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   "value": "<div class=\"ps889 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b817d055 ps56\">1.\u00a0  General Information <span id=\"i80e87a5a3a28491bac0041d431ab4944\"></span></span></div><div class=\"ps655 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:126.05pt\">Davide Campari-Milano N.V.</span><span class=\"f charStyle-58d8bcbe ps19754\" style=\"width:370.08pt\">, the Group\u2019s Parent Company, is listed on the Italian Stock Exchange, with its legal<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps16931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:52.08pt\">domicile in </span><span class=\"f charStyle-58d8bcbe ps19755\" style=\"width:51.1pt\">Amsterdam</span><span class=\"f charStyle-58d8bcbe ps19756\" style=\"width:24.84pt\">, the </span><span class=\"f charStyle-58d8bcbe ps1899\" style=\"width:53.9pt\">Netherlands</span><span class=\"f charStyle-58d8bcbe ps19757\" style=\"width:314.27pt\">, and its corporate address at Via Franco Sacchetti 20, 20099 Sesto<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps16933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:67.56pt\">San Giovanni, </span><span class=\"f charStyle-58d8bcbe ps19758\" style=\"width:48.02pt\">Milan, Italy</span><span class=\"f charStyle-58d8bcbe ps19759\" style=\"width:380.54pt\">. For the purposes of carrying out its business operations in Italy, the Company has</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps16934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">established a secondary seat with a permanent representative office, within the meaning of article 2508 of the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps19760 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Italian Civil Code. The Company is entered in both the Netherlands Chamber of Commerce under the number</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps19762 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:471.33pt\">78502934 and in the Milan Monza Brianza Lodi Chamber of Commerce under number 06672120158. </span><span class=\"f charStyle-58d8bcbe ps19761\" style=\"width:24.88pt\">At 31</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19767 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.9pt\">December 2025</span><span class=\"f charStyle-58d8bcbe ps15589\" style=\"width:6.31pt\">, </span><span class=\"f charStyle-58d8bcbe ps19763\" style=\"width:142.38pt\">51.0% of the share capital and </span><span class=\"f charStyle-58d8bcbe ps19764\" style=\"width:19.45pt\">82.3</span><span class=\"f charStyle-58d8bcbe ps19765\" style=\"width:8.89pt\">%</span><span class=\"f charStyle-58d8bcbe ps19766\" style=\"width:247.29pt\"> of the total voting rights of the Company were held by</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps19770 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:91.01pt\">the Italian branch of <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps19768\" style=\"width:58.97pt\">Lagfin S.C.A.</span><span class=\"f charStyle-58d8bcbe ps19769\" style=\"width:346.17pt\">, Soci\u00e9t\u00e9 en Commandite par Actions, headquartered in Luxembourg, which is</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps19773 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:95.83pt\">in turn controlled by </span><span class=\"f charStyle-58d8bcbe ps19771\" style=\"width:127.6pt\">Artemisia Management S.A.</span><span class=\"f charStyle-58d8bcbe ps19772\" style=\"width:272.74pt\">, Soci\u00e9t\u00e9 Anonyme, the ultimate controlling company of the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps19775 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:30.55pt\">Group.</span><span class=\"f charStyle-58d8bcbe ps19774\" style=\"width:2.77pt\"> </span></div><div class=\"ps19776 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Founded in 1860, Campari is a major player in the premium spirits industry, with an extensive and varied</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19777 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">product portfolio. The Group has a global distribution reach, trading in over 190 nations with leading positions in</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps19780 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:163.68pt\">Europe and the Americas. It has 24 </span><span class=\"f charStyle-58d8bcbe ps19778\" style=\"width:46.68pt\">production</span><span class=\"f charStyle-58d8bcbe ps19779\" style=\"width:285.72pt\"> sites, its own distribution network in 27 countries and employs,</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps19782 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:55.56pt\">on average, </span><span class=\"f charStyle-58d8bcbe ps17325\" style=\"width:25.01pt\">5,014</span><span class=\"f charStyle-58d8bcbe ps19781\" style=\"width:71.49pt\"> people globally.</span></div><div class=\"ps19784 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">On 4 March 2026 the Board of Directors of the Parent Company approved the Consolidated Financial</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps19787 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:280.51pt\">statements of Campari Group for the year ended 31 December </span><span class=\"f charStyle-58d8bcbe ps19785\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps19786\" style=\"width:137.2pt\"> and authorised them for issue.</span></div><div class=\"ps19788 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">The Board of Directors reserves the right to amend the financial statements, up to the date of the Shareholders\u2019</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19789 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Meeting of the Parent Company, should any significant events occur that require changes to be made. The</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19790 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">financial statements are presented in Euros (\u20ac), the reference currency for the Company and for many of its</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps19791 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:469.38pt\">subsidiaries. Unless otherwise indicated, the figures reported in these notes are expressed in millions of \u20ac.</span></div>",
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    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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  },
  "f-412": {
   "value": "<div class=\"ps889 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b817d055 ps56\">1.\u00a0  General Information <span id=\"i80e87a5a3a28491bac0041d431ab4944\"></span></span></div><div class=\"ps19784 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">On 4 March 2026 the Board of Directors of the Parent Company approved the Consolidated Financial</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps19787 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:280.51pt\">statements of Campari Group for the year ended 31 December </span><span class=\"f charStyle-58d8bcbe ps19785\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps19786\" style=\"width:137.2pt\"> and authorised them for issue.</span></div>",
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    "entity": "scheme:213800ED5AN2J56N6Z02",
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   "value": "Davide Campari-Milano N.V.",
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    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-414": {
   "value": "Amsterdam",
   "dimensions": {
    "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-415": {
   "value": "Netherlands",
   "dimensions": {
    "concept": "ifrs-full:DomicileOfEntity",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-416": {
   "value": "Netherlands",
   "dimensions": {
    "concept": "ifrs-full:CountryOfIncorporation",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-417": {
   "value": "Milan, Italy",
   "dimensions": {
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    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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  },
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   "value": "Lagfin S.C.A.",
   "dimensions": {
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    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-419": {
   "value": "Artemisia Management S.A.",
   "dimensions": {
    "concept": "ifrs-full:NameOfUltimateParentOfGroup",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-420": {
   "value": "Founded in 1860, Campari is a major player in the premium spirits industry, with an extensive and varied product portfolio. The Group has a global distribution reach, trading in over 190 nations with leading positions in Europe and the Americas. It has 24 production sites, its own distribution network in 27 countries and employs, on average, 5,014 people globally.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-428": {
   "value": "<div class=\"ps19793 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b817d055 ps56\">2.\u00a0  Accounting Information and Material General Accounting Policies<span id=\"if3d109f720944e06ac47bf85ac675cc7\"></span></span></div><div class=\"ps4292 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:192.49pt\">The Consolidated Financial statements </span><span class=\"f charStyle-58d8bcbe ps19794\" style=\"width:108.84pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps19795\" style=\"width:194.88pt\"> were prepared in accordance with the</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19796 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">International Financial Reporting Standards issued by the International Accounting Standards Board (\u2018IASB\u2019)</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps19797 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">and ratified by the European Union (\u2018IFRS-EU\u2019), and with Part 9 of Book 2 of the Dutch Civil Code. These</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19798 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">include all the international accounting standards (\u2018IAS\u2019) and interpretations of the International Financial</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps19799 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">Reporting Standards Interpretation Committee (\u2018IFRS IC\u2019), formerly the Standard Interpretations Committee</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps19800 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:30.52pt\">(\u2018SIC\u2019).</span></div><div class=\"ps19802 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">The accounting standards adopted by the Group are the same as those that were applied for the annual</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps19803 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">financial statements for the year ended 31 December 2024, except for the accounting standards specified in<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps19804 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">note 2 vii-\u2018Change in accounting standards-Summary of the new accounting standards endorsed and adopted</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps19805 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">by the Group from 1 January 2025\u2019. For the year ended 31 December 2025 there were no changes in</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps19807 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:144.99pt\">accounting estimates and errors.</span><span class=\"f charStyle-58d8bcbe ps19806\" style=\"width:2.77pt\"> </span></div><div class=\"ps19809 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">The financial statements were prepared in accordance with the historical cost method and taking any value</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps19810 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">adjustments into account were appropriate for certain categories of assets and liabilities, which were measured</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps19812 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:223.29pt\">in accordance with the methods provided by IFRS.</span><span class=\"f charStyle-58d8bcbe ps19811\" style=\"width:2.77pt\"> </span></div><div class=\"ps19813 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">Comparative information has been disclosed in respect of the preceding period for all amounts reported in the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps19814 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">financial statements and included for narrative and descriptive information where it is relevant to an</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps19815 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:256.46pt\">understanding of the current period\u2019s financial statements.</span></div><div class=\"ps1998 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">Whether individual items or groups of items have been disclosed separately in the primary financial statements<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps19817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">or in the notes depends on their materiality. Materiality is judged by reference to the size and nature of the item.</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.59pt\"> </span></div><div class=\"ps19818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">The deciding factor is whether the omission or misstatement could, individually or collectively, influence the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17294 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:339.39pt\">economic decisions that users make on the basis of the financial statements.</span></div><div class=\"ps19820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:411.05pt\">Unless otherwise indicated, the figures reported in these notes are expressed in millions of \u20ac.</span></div><div class=\"ps19822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">The Group has prepared the financial statements on the basis that it will continue to operate as a going concern.</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.59pt\"> </span></div><div class=\"ps19823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">The Directors consider that there are no material uncertainties that may cast significant doubt over this</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">assumption. They have formed a judgement that there is a reasonable expectation that the Group has adequate</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps19825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">resources to continue in operational existence for the foreseeable future, and not less than 12 months from the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps19827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:292.57pt\">date of signing the Company\u2019s Consolidated Financial statements.</span><span class=\"f charStyle-58d8bcbe ps19826\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Transactions with related parties form part of ordinary operations and are carried out under market conditions</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">(i.e. conditions that would apply between two independent parties) or using criteria that allow for the recovery of</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">costs incurred and a return on invested capital. All transactions with related parties were carried out in the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:73.13pt\">Group\u2019s interest.</span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">The Group is continuously improving its financial disclosures to make them more accessible and</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">understandable to stakeholders. Material accounting policies applied by the Group based on IFRS have been</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">identified and are indicated within the notes to the Consolidated Financial statements with \u2018Accounting policy\u2019,</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">as well as key assumptions and estimates. Disclosures are provided for transactions and other events or</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">conditions that are material for the Group, following the overall sequence of items in the consolidated statement</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">of profit or loss, and accounting subjects related to the consolidated statement of financial position categorised</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:103.3pt\">by their intrinsic nature.</span><span class=\"f charStyle-58d8bcbe ps19828\" style=\"width:2.77pt\"> </span></div><div class=\"ps19839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1333\">i.\u00a0  Form and Content<span id=\"i4d55ce4906464faeabdc736ff6633470\"></span></span></div><div class=\"ps4482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">In accordance with the format selected by the Group, the statement of profit or loss has been classified by</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps9922 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">function, and the statement of financial position is based on a distinction between current and non-current<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps9923 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">assets and liabilities. The Group considers that this format will provide a more meaningful representation of the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps9924 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:329.94pt\">items that have contributed to the results and assets and financial position.</span><span class=\"f charStyle-58d8bcbe ps19840\" style=\"width:2.77pt\"> </span></div><div class=\"ps9925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Transactions or events that may generate income and expenses that are not indicative of the entity\u2019s operational</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps8834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">performance, such as gains (losses) on the sale of fixed assets, restructuring and reorganization costs, non-</span></div><div class=\"ps1834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">recurring financial expenses, and any other non-recurring income (expenses), are described in the disclosures.</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.59pt\"> </span></div><div class=\"ps8835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">This presentation complies with the requirements and guidelines of the European Securities and Markets</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.22pt\"> </span></div><div class=\"ps8836 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:208.05pt\">Authority (\u2018ESMA\u2019) set out in ESMA/2015/1415.</span></div><div class=\"ps2266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">In 2025, the Group did not carry out any atypical and/or unusual transactions that, due to their materiality or</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps8837 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">size, type of counterparties to the transaction or method for determining the price and timing of the event</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps2090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">(proximity to the end of the period), could give rise to concerns over the accuracy or completeness of the</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps9926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">information in the financial statements, conflicts of interest, the safeguarding of Group assets or the protection of</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:98.33pt\">minority shareholders.</span></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:304.94pt\">The statement of cash flows was prepared using the indirect method.</span></div><div class=\"ps19842 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Seasonal Factors<span id=\"i4f789a71d447416fa3ba47b25fda0533\"></span></span></div><div class=\"ps1216 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">Sales of certain Group products are more affected than others by seasonal factors, because of different</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps3986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">consumption patterns or consumer habits. In particular, aperitif consumption tends to be concentrated during<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7502 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">spring and summer, whereas sales of other products, such as sparkling wines and spirits, are concentrated in</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7505 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">the last quarter of the year. Seasonal consumption cycles in the markets in which Campari Group operates may</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps19843 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">impact its financial results and operations. Notwithstanding Campari Group global presence, most of its revenue</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps19844 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">is in the northern hemisphere and unseasonably cool or wet weather in the summer months, can affect sales<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps18847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">volumes. In general, the Group\u2019s diversified product portfolio and its geographical sales spread substantially</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps19845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">help reduce risks relating to seasonal factors. Moreover, in order not to be excessively exposed to seasonal</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps19846 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">peaks, the Group is implementing initiatives to de-seasonalise the consumption moments of the main brands,</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps19847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">with particular attention to the aperitif segment, ensuring constant consumption throughout the year, unlocking</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps19848 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:247.8pt\">new consumption opportunities outside seasonal peaks.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-427": {
   "value": "<div class=\"ps19793 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b817d055 ps56\">2.\u00a0  Accounting Information and Material General Accounting Policies<span id=\"if3d109f720944e06ac47bf85ac675cc7\"></span></span></div><div class=\"ps19849 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Currency Conversion Criteria and Exchange Rates Applied to the Financial <span id=\"i36596adc6e0b46ce9221254af55568f0\"></span></span></div><div class=\"ps19850 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps56\">Statements</span></div><div class=\"ps19851 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:103.23pt\">Currency Conversion<span id=\"i8731a6b83d684a959db9f8452a39c4e0\"></span></span></div><div class=\"ps19852 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Items included in the financial statements of the Group\u2019s subsidiaries and joint-ventures are measured using the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps19853 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">currency of the primary economic environment in which each entity operates (its functional currency) and are</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps19854 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:265.51pt\">converted to the Group presentation currency (\u20ac) as follows:</span></div><div class=\"ps17605 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">statement of profit or loss items are converted at the average exchange rate for the period, while statement</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps19855 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">of financial position items are converted at period-end exchange rates; exchange rate differences resulting<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps19856 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.88pt\">from the application of differing criteria for conversion to the \u20ac of statement of profit or loss and statement of</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps17643 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">financial position items are recorded under the currency translation reserve under shareholders\u2019 equity until</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps19857 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:211.62pt\">the investment in question is sold or terminated;</span></div><div class=\"ps14378 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">any conversion differences between the value of initial shareholders\u2019 equity, as converted at end-of-period</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps19858 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">exchange rates, and the value of shareholders\u2019 equity for the previous year converted at current exchange</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps19860 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:276.65pt\">rates are also recorded under the currency translation reserve.</span><span class=\"f charStyle-58d8bcbe ps19859\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps19861\" style=\"width:398.3pt\">The key exchange rates used for conversion transactions are shown in the following table.</span></div><div class=\"ps8193 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:159.75pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:84pt\"></td><td style=\"padding:0;width:84pt\"></td><td style=\"padding:0;width:84pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18178 ss998\"><div><div class=\"ps2776 ss288\"><span class=\"f charStyle-183bdf94 ps19862\">for the year ended 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss288\"><span class=\"f charStyle-183bdf94 ps19863\">December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19865 ss386\"><div><div class=\"ps979 ss385\"><span class=\"f charStyle-183bdf94 ps19864\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12794 ss386\"><div><div class=\"ps2776 ss385\"><span class=\"f charStyle-183bdf94 ps19866\">for the year ended 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss385\"><span class=\"f charStyle-183bdf94 ps7554\">December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13608 ss386\"><div><div class=\"ps979 ss385\"><span class=\"f charStyle-183bdf94 ps19864\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19867 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps7559\">average rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19869 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps19868\">end-of-period rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12800 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps19870\">average rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19871 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps19868\">end-of-period rate<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18200 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">1.129<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19873 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.175<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12805 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.082<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19874 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.039<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Canadian Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps18210 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">1.578<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19875 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.609<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12808 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.482<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19876 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.495<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Jamaican Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps18217 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19877\">179.717<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19879 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19878\">186.719<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12811 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19878\">169.267<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19880 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19878\">161.513<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-40131897 ps132\">Argentine Peso</span><span class=\"f charStyle-85922b7e ps5098\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19882 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19881\">1,707.561<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19884 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19883\">1,707.561<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps12814 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19883\">1,070.806<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19885 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19883\">1,070.806<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Australian Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps18229 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">1.751<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19886 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.758<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12817 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.640<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19887 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.677<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Brazilian Real<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps18238 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">6.306<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19888 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">6.436<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19889 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">5.827<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19890 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">6.425<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Swiss Franc<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19891 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">0.937<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19892 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">0.931<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19893 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">0.953<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19894 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">0.941<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5271 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Yuan Renminbi<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19896 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19895\">8.115<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14550 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">8.226<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14552 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">7.786<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14554 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">7.583<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6904 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Great Britain Pounds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19897 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">0.857<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14560 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">0.873<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14562 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">0.847<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14564 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">0.829<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4642 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Japanese Yen<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19898 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19877\">168.946<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14571 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19878\">184.090<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14573 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19878\">163.817<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14575 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19878\">163.060<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4652 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">South Korea Won<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19899 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19881\">1,605.288<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14581 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19883\">1,696.940<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14583 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19883\">1,475.256<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14585 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19883\">1,532.150<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4660 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Mexican Peso<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19901 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19900\">21.673<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14592 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19902\">21.118<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14594 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">19.825<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14596 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">21.550<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11256 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">New Zealand Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19904 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">1.942<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14602 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">2.038<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14604 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.788<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14606 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.853<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps10236 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Peruvian Sol<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19905 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">4.025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14612 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">3.952<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14614 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">4.061<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14616 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">3.905<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14618 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-40131897 ps132\">Russian Ruble</span><span class=\"f charStyle-85922b7e ps5109\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19906 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19900\">94.286<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14623 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">92.496<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14625 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19878\">100.374<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14627 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19907\">116.562<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4674 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Singapore Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19908 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">1.475<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14633 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps978\">1.511<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14635 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.446<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14637 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.416<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14639 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Ukraine Hryvnia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19909 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19900\">47.083<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14644 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">49.795<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14646 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">43.469<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14648 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">43.686<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14238 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">South Africa Rand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19910 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19900\">20.176<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19911 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">19.444<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19912 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">19.832<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19913 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">19.619<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps19914 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.06pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps15261\" style=\"width:488.92pt\">The average exchange rate of the Argentine Peso was assumed to be equal to the spot exchange rate at the reporting date as required by the hyperinflation</span><span class=\"f charStyle-40131897 ps10312\" style=\"width:1.94pt\"> </span></div><div class=\"ps19917 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:56.77pt\">accounting standa</span><span class=\"f charStyle-0bdf54e2 ps19915\" style=\"width:115.06pt\"><span style=\"background-color:inherit\">rd. For reference only the average ex</span><span class=\"f ps21\"> </span></span><span class=\"f charStyle-40131897 ps19916\" style=\"width:126.75pt\">change rate would have been 1,409.130.</span></div><div class=\"ps19918 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><span class=\"f ps21\"> </span><sup>(2)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.45pt\"> On 2 March 2022, the European Central Bank (\u2018ECB\u2019) decided to suspend the publication of a \u20ac reference rate for the Russian Ruble until further notice. The</span><span class=\"f charStyle-40131897 ps10329\" style=\"width:1.94pt\"> </span></div><div class=\"ps19919 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:475.01pt\">Group has therefore decided to refer to an alternative reliable source for exchange rates based on executable and indicative quotes from multiple dealers.</span></div><div class=\"ps19921 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:308.02pt\">Transactions in foreign currencies (not hedged with derivatives)<span id=\"idce4905b8ef641fcacc1c7792eff65be\"></span></span></div><div class=\"ps19922 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Revenues and costs related to foreign currency transactions are reported at the exchange rate applied on the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps19923 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:192.74pt\">date on which the transaction is carried out.</span></div><div class=\"ps19924 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Monetary assets and liabilities in foreign currencies are initially converted into \u20ac at the exchange rate in effect on</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps19925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">the transaction date and subsequently converted into \u20ac at the exchange rate applied on the reporting date, with</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps19926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:303.07pt\">the difference in value being posted to the statement of profit or loss.</span></div><div class=\"ps19927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Non-monetary assets and liabilities arising from the payment/collection of a foreign currency advance are</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">initially recognised at the exchange rate in effect on the transaction date and are not subsequently modified to</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps19929 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:350.89pt\">take account of any change in the exchange rate in effect on the reporting date.</span></div><div class=\"ps19930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:67.18pt\">Hyperinflation<span id=\"i6167c8e6b62342019bfd18281198cfb7\"></span></span></div><div class=\"ps11499 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">If a subsidiary operates in a hyperinflationary economy, the related economic and financial results are adjusted</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">in accordance with the method established by IFRS, before being translated into the functional currency of the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17279 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Group (\u20ac). The economic and financial data are restated in local currency, taking into account the current</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps17280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">purchasing power of the currency on the date of the financial statements. This process requires a number of</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps19932 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:315.52pt\">complex procedural steps, which are maintained consistently over time.</span></div><div class=\"ps1987 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:277.18pt\">The restatement procedures used by the Group are as follows:</span></div><div class=\"ps17426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:148.88pt\">selection of a general price index;</span></div><div class=\"ps19933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:221.1pt\">segregation of monetary and non-monetary items;</span></div><div class=\"ps19934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:137.19pt\">restatement of non-cash items;</span></div><div class=\"ps19935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:198.24pt\">restatement of the statement of profit or loss;</span></div><div class=\"ps19936 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:162.73pt\">calculation of monetary profit or loss;</span></div><div class=\"ps19937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:306.1pt\">restatement of adjusted balance-sheet and income-statement values.<span class=\"f ps21\"> </span></span></div><div class=\"ps19938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">The restated statement of profit or loss is converted into \u20ac by applying the spot exchange rate at the end of the</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps19939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:259.99pt\">period instead of the average exchange rate for the period.</span></div><div class=\"ps19940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">No restatement of the values presented in the comparative period prior to the official declaration of the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps19941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:440.18pt\">subsidiary\u2019s adoption of hyperinflationary accounting is required in the Group\u2019s consolidated figures.</span></div><div class=\"ps19942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">The effect of restating non-cash items is recognised in the statement of profit or loss under net financial income</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17298 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:52.23pt\">(expenses).</span></div><div class=\"ps19945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:213.64pt\">The indexes used to remeasure the values </span><span class=\"f charStyle-58d8bcbe ps19943\" style=\"width:105.54pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps19944\" style=\"width:176.99pt\">, in accordance with hyperinflationary</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps19946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">economies IFRS rules, are shown in the following table. Specifically, the national Consumer Price Index</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps19949 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:157.73pt\">(\u2018nationwide CPI\u2019) of Argentina was </span><span class=\"f charStyle-58d8bcbe ps19947\" style=\"width:21.68pt\">used</span><span class=\"f charStyle-58d8bcbe ps19948\" style=\"width:2.77pt\">.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:243.75pt\"></td><td style=\"padding:0;width:126pt\"></td><td style=\"padding:0;width:126pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6552 ss351\"><div><div class=\"ps476 ss350\"><span class=\"f charStyle-183bdf94 ps6305\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19517 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19950\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19951 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19950\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19953 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps19952\">average rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19954 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps19952\">average rate<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">Consumer Price Index<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19956 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19955\">10,048.027<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19958 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19957\">7,708.683<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19395 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19959\">2025 conversion factor<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19602 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19959\">2024 conversion factor<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">January<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19397 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.278<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19610 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.809<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">February<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19399 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.248<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19619 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.597<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">March<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19401 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.203<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19960 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.439<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">April<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19403 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.170<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19961 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.322<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">May<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19405 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.153<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19962 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.269<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">June<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19407 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.135<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19963 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.214<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">July<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19409 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps11181\">1.113<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19964 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.167<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">August<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19412 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.093<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19965 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.120<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">September<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19415 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.071<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19966 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.082<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">October<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19967 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.046<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19968 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.054<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">November<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19969 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.021<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19970 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.029<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11650 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">December<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19420 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19971 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.000<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps20084 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:127.04pt\">Principles of consolidation<span id=\"i12ee6f5ae588463eb48d58ae255b4b03\"></span></span></div><div class=\"ps18173 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">The Consolidated Financial statements include the financial statements of the Parent Company and of the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps18174 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Italian and foreign subsidiaries. All subsidiaries are consolidated on a line-by-line basis. The carrying amount of</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps18175 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">the investments in subsidiaries is derecognised against the corresponding portion of the shareholders\u2019 equity of</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps18176 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">the subsidiaries. At the first consolidation stage, individual assets and liabilities are measured at fair value in the</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps12992 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">context of the purchase price allocation at the date control was acquired. Any residual positive difference in the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps11565 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">allocation is recorded under the asset item \u2018goodwill\u2019, and any negative amount is allocated to the statement of</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:57.19pt\">profit or loss.</span></div><div class=\"ps12994 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The subsidiaries\u2019 financial statements are based on the same financial year as the Parent Company and drawn</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps12995 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">up for the purposes of consolidation. When necessary, appropriate adjustments are made to subsidiaries\u2019</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps12999 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">financial statements to bring them into line with the Group\u2019s accounting policies. Joint-ventures are measured by</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps13001 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:122.22pt\">applying the equity method.</span></div><div class=\"ps13002 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">When preparing the Consolidated Financial statements, unrealised gains and losses resulting from intra-group</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1867 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">transactions are derecognised, as are the entries giving rise to payables and receivables, and costs and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps13004 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">revenues between the companies included in the basis of consolidation. All intra-group assets and liabilities,</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps13005 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">shareholders\u2019 equity, revenues, costs and cash flow relating to transactions between Group entities are fully</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps13006 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">derecognised on consolidation. All remaining assets and liabilities, expenses and revenues of the subsidiaries<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps13007 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">are fully reflected in the Consolidated Financial statements. Unrealised gains and losses generated on<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps13008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">transactions with joint-ventures are derecognised to the extent of the Group\u2019s percentage interest in those</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps13009 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:355.58pt\">companies. Dividends collected from consolidated companies are derecognised.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">The profit (loss) for the year and all other components of the statement of other comprehensive income are</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">attributed to the shareholders of the Parent Company and to non-controlling interests, even if this results in non-<span class=\"f ps21\"> </span></span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">controlling interests having a negative value. Non-controlling interests in shareholders\u2019 equity and related results</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:354.94pt\">are reported under the appropriate line items in the primary financial statements.</span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Net Sales <span id=\"ide1e1f2c0eb248749a3d6e25ca42040c\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:91.69pt\">Revenue recognition</span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Revenues are recognised when the customer gains control of the goods. Transfer of control is determined using</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:336.05pt\">a five-step analytical model applied to all revenues from customer contracts.</span><span class=\"f charStyle-2293a859 ps21256\" style=\"width:2.77pt\"> </span></div><div class=\"ps1266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">This occurs when the goods are delivered to the customer, who has complete discretion over the sales channel<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">and price of the products themselves, and there is no unfulfilled obligation that could affect acceptance by the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">customer. Delivery takes place when the products have been shipped to the specific location, the risks of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">obsolescence and loss have been transferred to the customer and the customer has accepted the products in</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">accordance with the sales contract, the terms and conditions of acceptance have expired, or the Group has</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1275 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">objective evidence that all criteria for acceptance have been met. The Group\u2019s revenues mainly include sales of</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">spirits on the market and, to a marginal extent, revenues from co-packing services in some way linked to the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">Group\u2019s core business, for which the breakdown of sales is not disclosed in consideration of their limited</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:52.22pt\">importance.</span></div><div class=\"ps1282 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">Revenues are recognised at the price stated in the contract, net of any estimates of deferred discounts or</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1284 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:338.25pt\">incentives granted to the customer in line with industry practice, for example:</span><span class=\"f charStyle-2293a859 ps21257\" style=\"width:2.77pt\"> </span></div><div class=\"ps1285 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:433.33pt\">volume/value discounts based on cumulative sales above a threshold at the end of a given period;</span></div><div class=\"ps1287 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.03pt\">performance-based discounts (such as discounts, rebates, performance bonuses, logistical discounts),</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1288 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:393.33pt\">based on promotional activities carried out by the customer and agreed upon in advance;</span></div><div class=\"ps1289 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.02pt\">customer incentives, such as discount vouchers, free products, price protection, market development</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1290 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:325.54pt\">allowances and price reduction allowances (to compensate for low sales);</span></div><div class=\"ps1291 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:351.66pt\">product placement allowances (such as contributions for placement and range).</span></div><div class=\"ps1292 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-2293a859 ps56\">Historical experience is used to estimate deferred discounts/incentives based on agreements with customers, </span></div><div class=\"ps21258 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-2293a859 ps56\">and revenues are recognised only to the extent that it is highly probable that there will be no need for <span class=\"f ps21\"> </span></span></div><div class=\"ps21259 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-2293a859 ps56\">subsequent significant adjustments.</span></div><div class=\"ps21260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">No financing element is deemed to be present as sales are made with only a brief delay before payment:</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21261 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">contracts are generally not entered into when there is more than one year between the transfer of the goods and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps21263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:131.09pt\">the payment by the customer.</span><span class=\"f charStyle-2293a859 ps21262\" style=\"width:2.77pt\"> </span></div><div class=\"ps21264 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Discounts relating to specific payment terms that lower the Group entity\u2019s collection risk or reduce administrative</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21265 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">costs, and/or improve liquidity (such as payments at the time of sale), are recognised as a reduction in<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:43.9pt\">revenues.</span></div><div class=\"ps21267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">A liability reducing the related trade receivable is recognised for deferred discounts due to customers in relation</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">to sales made up to the end of the period. Such liabilities can then be offset against the amounts payable by the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps21269 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">customer. Receivables are recognised when the goods are delivered, as this is the point in time that the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:436.66pt\">consideration is unconditional because only the passage of time is required before payment is due.</span></div><div class=\"ps14422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:137.23pt\">Consumption taxes recognition</span></div><div class=\"ps14423 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">The Group incurs consumption taxes worldwide. In most jurisdictions, excise duty is a production tax that is</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps14424 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">payable by the manufacturer, becomes payable when the product is removed from captive warehouses, and is</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps2951 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">not directly related to the sales value: the excise duty is consequently recognised as a cost for the Group.</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps14425 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Excise duties are normally recovered through the sales, although they are generally not shown as a separate</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps14426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">item on external invoices. Excise duty increases are not always passed on to the customer, and if a customer</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">does not pay for the product received, the Group cannot request a refund of the excise duty. For excise duties</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21271 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">passed on to customers, the Group considers itself an agent of the regulatory authorities, and consequently, the</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps21272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">re-invoiced excise values are excluded from the presentation of net sales in the primary statements and are</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps21274 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:222.54pt\">presented to offset the cost incurred by the Group.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps21273\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:99.44pt\">Net sales presentation</span></div><div class=\"ps21277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Net sales relate to spirit products in Campari Group\u2019s markets. Their nature, amount, timing and uncertainty, as</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21278 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">well as the corresponding cash flows, are affected by economic and business factors which differ across</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21279 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">markets, also as a function of their different sizes and maturity profiles. These elements are primarily attributable</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">to demographics, consumption habits also influenced by historical, social and climatic factors, local consumer</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">taste preferences, propensity to consume, the market commercial structure in terms of the weight of the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21281 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">distribution channels (off-premise vs. on-premise) as well as the retailers\u2019 concentration. As an effect of the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21282 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">above factors, the sales composition by brand differs from market to market. Therefore, the level of analysis of</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21284 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:284.43pt\">sales by operating segment reflects the four geographical areas.</span><span class=\"f charStyle-2293a859 ps21283\" style=\"width:2.77pt\"> </span></div><div class=\"ps21285 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">In order to highlight the main business performance drivers in a diversified context and to assess the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps7899 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">contribution of the different brands to the overall sales performance of the Group, further breakdowns by brand</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">category (i.e., Houses of Brands) and for major brands are provided to better explain their contribution to the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:30.56pt\">region.</span><span class=\"f charStyle-2293a859 ps21286\" style=\"width:2.77pt\"> </span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Operating Segment<span id=\"i9bfb064a7e5347728d18ed800c2cde78\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">For management purposes, the Group is organised into business units and has three reportable segments.</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21431 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">Each segment's business results, their nature, amount, timing and uncertainty as well as the related cash flow,</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps655 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">are affected by economic factors influenced by homogeneous elements primarily attributable to geographical<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21433 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:340.73pt\">areas\u2019 features, although markets have different sizes and maturity profiles. </span><span class=\"f charStyle-2293a859 ps21432\" style=\"width:155.45pt\">Secondarily, the definition of brand</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1532 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">priorities and the establishment of overarching guidelines for each brand cluster is managed by the Houses of</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21435 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:278.47pt\">Brands and is affecting the resource allocation to each region. </span><span class=\"f charStyle-2293a859 ps21434\" style=\"width:217.61pt\">The level of profitability analysed is the operating</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21436 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">result by the following regions: Americas (\u2018AMERICAS\u2019), Europe, Middle-East and Africa (\u2018EMEA\u2019) and Asia-</span></div><div class=\"ps21437 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">Pacific. The profitability of each region reflects the profit generated by the Group through sales to third parties in</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps21438 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">that region, thereby eliminating the effects of inter-company margins. In terms of financial position, the goodwill</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21439 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">is assigned to operating segments reflecting the allocation defined at the time of the related business</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps16940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.67pt\">combination.</span></div><div class=\"ps21620 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Advertising and Promotional Expenses<span id=\"i38e16ae4cc22486889874175c224fddc\"></span></span></div><div class=\"ps7892 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps21622 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Point of sale materials are charged to advertising and promotional expenses at the time when the items are</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17504 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:49.46pt\">purchased.</span></div><div class=\"ps17505 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Costs incurred in research, developing alternative products or processes, or conducting technological research</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21624 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:390.52pt\">and development are recognised in profit or loss in the period in which they are incurred.</span><span class=\"f charStyle-2293a859 ps21623\" style=\"width:2.77pt\"> </span></div><div class=\"ps21754 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Personnel Costs<span id=\"i503ae20b544d4cd58a2525ac5df8e7d2\"></span></span></div><div class=\"ps8858 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps8859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">For detailed information on the accounting policy on post-employment plans and share-based payments, please</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8860 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:457.16pt\">refer to note 7 v-\u2018Share-based payments\u2019 and 8 iv-\u2018Defined benefit and contribution plans\u2019, respectively. </span><span class=\"f charStyle-58d8bcbe ps21755\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps21784 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">viii.\u00a0  Depreciation and Amortisation<span id=\"i92368a538cb442a78753c4b6a3366bf9\"></span></span></div><div class=\"ps7692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps7693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">For detailed information on the accounting policy, please refer to notes 6 vii-\u2018Lease components in the statement</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">of financial position\u2019, 4 ii-\u2018Property, plant and equipment, right of use assets and biological assets\u2019, 4</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7695 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:338.44pt\">iii-\u2018Intangible assets\u2019 and 8 iii-\u2018Fair value information on assets and liabilities\u2019.<span class=\"f ps21\"> </span></span></div><div class=\"ps21829 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ix.\u00a0  Research and Innovation Costs<span id=\"icf66879a0a4d4e29abb02cee513d1918\"></span></span></div><div class=\"ps1529 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1530 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Costs incurred in research, in developing alternative products or processes, or in conducting technological</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1531 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">research and development are recognised in profit or loss in the period in which they are incurred under</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1532 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:171.13pt\">advertising and promotional expenses.</span></div><div class=\"ps21839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">x.\u00a0  Financial Income and Expenses<span id=\"i7b0f1b10bd0d4bd39f331821165ea732\"></span></span></div><div class=\"ps1536 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps1537 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Financial income and expenses include interest income and expenses in respect of financial instruments and</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:321.78pt\">the results of hedging transactions used to manage interest rate risk. </span><span class=\"f charStyle-2293a859 ps21840\" style=\"width:174.36pt\">Borrowing costs are recognised in the</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">statement of profit or loss income statement based on the effective interest method, except for the qualifying</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:299.06pt\">assets whose borrowing costs are capitalised on the underlying </span><span class=\"f charStyle-2293a859 ps21841\" style=\"width:23.89pt\">asset</span><span class=\"f charStyle-2293a859 ps21842\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-2293a859 ps21843\" style=\"width:170.39pt\"> The remaining financial components</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">include items in respect of post-employment plans, the discount unwind of long-term obligations and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17020 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">hyperinflation charges. The exchange gains or losses are inclusive of derivatives agreement impacts, excluding</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps17842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.27pt\">cash flow hedges that are used to cover the currency risk of highly probable future currency transactions.</span></div><div class=\"ps2267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">For detailed information on the accounting policy for financial instruments, please refer to note 6 i-\u2018Financial</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17843 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.65pt\">instruments\u2019.</span><span class=\"f charStyle-58d8bcbe ps6812\" style=\"width:2.77pt\"> </span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xi.\u00a0  Lease Components in the Statement of Profit or Loss<span id=\"i798acdfab63d47288a9d52171bc5a193\"></span></span><span class=\"f charStyle-6c6fcc93 ps21913\">\u00a0 </span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">For detailed information on the accounting policy, please refer to note 6 vii-\u2018Lease components in the statement</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:89.98pt\">of financial position\u2019.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps21914\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21923 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xii.\u00a0  Share of Profit (Loss) of Joint-Ventures<span id=\"i23cab2adac574659b64fe8dd82174abd\"></span></span><span class=\"f charStyle-6c6fcc93 ps21922\"> and Profit (loss) from other investments </span></div><div class=\"ps21925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps21926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:109.45pt\">Joint-venture recognition</span></div><div class=\"ps21927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">A joint-venture exists where there is a joint-control agreement under which the parties that hold joint control,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">have a right to the net assets covered by the agreement. Joint control is the contractually agreed sharing of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21929 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">control under an agreement, which solely exists when decisions on relevant activities require unanimous</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">consensus from all the parties sharing control. The factors considered to determine significant influence or joint</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21932 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:337.17pt\">control are similar to those necessary to determine control over subsidiaries.</span><span class=\"f charStyle-2293a859 ps21931\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps21933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:121.67pt\">Joint-venture measurement<span class=\"f ps21\"> </span></span></div><div class=\"ps21934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">These companies are initially recognised at cost plus acquisition-related costs and are subsequently reported in</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps21935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">the Consolidated Financial Statements using the equity method from the date on which significant influence or</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21936 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:330.54pt\">joint control commences and ending when that influence or control ceases.</span></div><div class=\"ps21937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">If there is a significant loss of influence or joint control, the holding and/or investment is recognised at fair value</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:488.05pt\">and the difference between the fair value and the carrying amount is recorded in the statement of profit or loss.</span></div><div class=\"ps21939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Any committed payments to increment the ownership interest in a joint-venture, in the form of a put and/or call</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.05pt\">option or a combination of both, cannot be estimated and recorded as a financial liability at the time of the</span><span class=\"f charStyle-2293a859 ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps21941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">transaction since the guidance valid for financial instruments does not apply to interests in joint-ventures that are</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">accounted for using the equity method. These written agreements for put and/or call options are derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21943 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">agreements and represented in the Group accounts as financial instruments measured at fair value with an</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impact in the statement of profit or loss. At the time of expiration of the call and/or put options, the derivative is</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">replaced by an increased value of the investment to be recorded against the cash out for the derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21947 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:51.64pt\">settlement. </span><span class=\"f charStyle-2293a859 ps21946\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps21948 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Contingent or variable and committed payments also in the form of an incentive plan granted to personnel of the</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21949 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">joint-venture are recorded as an incremental cost of the investment once the attainment of the performance</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21950 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.3pt\">condition becomes probable, based on the fair value of the replacement award as of the acquisition date.</span></div><div class=\"ps21951 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">The Group assesses the existence of any impairment indicators whenever events or circumstances indicate that</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21952 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">the carrying amount of the investment may not be recoverable; any impairment loss is allocated to the</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21953 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">investment with effect in the statement of profit or loss. If the Group\u2019s interest in any losses of joint-ventures</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21954 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">exceeds the carrying amount of the equity investment in the financial statements, the value of the equity</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21955 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">investment is derecognised, and the Group\u2019s portion of further losses is not reported, unless, and to the extent</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21957 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:324.37pt\">to which, the Group has a legal or implicit obligation to cover such losses.</span><span class=\"f charStyle-2293a859 ps21956\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps20082 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xiii.\u00a0  Taxation<span id=\"iae84338576634d61a4c719a9313cd6f9\"></span></span></div><div class=\"ps1484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Current tax is based on taxable profit for the year. Taxable profit is different from accounting profit due to</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">temporary differences between accounting and tax treatments and due to items that are never taxable or tax-</span></div><div class=\"ps9922 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:448.66pt\">deductible. Tax benefits are not recognised unless it is probable that the tax positions are sustainable.</span></div><div class=\"ps9923 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">In preparing the taxation estimates, a detailed assessment is performed considering uncertainties regarding the</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps9924 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">tax treatment of transactions carried out, which could give rise to disputes with the tax authorities, with related</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">tax liabilities included in current liabilities. Current tax assets and liabilities are offset when these relate to<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps8834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">income taxes levied by the same tax authority and a legal right of set-off exists, provided that the realisation of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:305.3pt\">the asset and the settlement of the liability take place simultaneously.</span></div><div class=\"ps8835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:432.14pt\">Other non-income taxes, such as property and capital taxes, are included in operating expenses.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps22077\" style=\"width:64.09pt\"> Penalties and</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8836 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">interest on tax liabilities are included in other operating income and expenses and financial income and</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps2266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">expenses, respectively, unless they qualify as income taxes based on local legislation, being in that case<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps8837 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:118.87pt\">classified as income taxes.</span></div><div class=\"ps2090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Deferred tax assets and liabilities are calculated on all temporary differences between the asset and liability</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps9926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">values recorded in the financial statements and the corresponding values recognised for tax purposes using the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps9927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">liability method. No deferred tax liability is provided in respect of any future dividend distributions of foreign<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">subsidiaries where the Group is able to control those, and it is probable that earnings will not be remitted in the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:304.95pt\">foreseeable future or where no liability would arise on the remittance.</span><span class=\"f charStyle-2293a859 ps22078\" style=\"width:16.62pt\">\u00a0 \u00a0 \u00a0 </span><div class=\"ps22384 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Acquisition and Sale of Businesses and Purchase of Non-Controlling Interests<span id=\"i8f33003f0e0242e4a7eb406f0ecf81d7\"></span></span></div><div class=\"ps4310 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:57.71pt\">Accounting </span><span class=\"f charStyle-b96b9181 ps13753\" style=\"width:28.86pt\">policy</span></div><div class=\"ps22386 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:153.9pt\">Business combinations recognition</span></div><div class=\"ps22387 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Business combinations are recorded by applying the acquisition method. Ancillary costs relating to the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps22388 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">transaction are recognised in the statement of profit or loss at the time at which they are incurred. The Group</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22389 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">verifies firstly whether the acquired set of activities and assets meets the definition of a business, and control is</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22390 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">transferred to the Group, meaning that the transaction falls within the definition of a business combination. In</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22391 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">particular, the Group deems an undertaking to be a business only if it is an integrated set of activities and assets</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps22392 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">that includes at least an input and a substantive process which, together, contribute to the ability to create an</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22393 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">output. A business can therefore exist even without the inclusion of all the inputs and processes necessary to</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17286 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">create an output. The Group undertakes this assessment by also applying the option of the \u2018concentration test\u2019</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17499 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:444.37pt\">to simplify the assessment itself for each business combination to segregate asset deal transactions.</span></div><div class=\"ps22394 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Information about the fair value measurement allocated to assets acquired and liabilities assumed in the context</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22396 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:195.42pt\">of the business combination are disclosed. </span><span class=\"f charStyle-2293a859 ps22395\" style=\"width:300.74pt\">Goodwill acquired in business combinations is initially measured at</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22397 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">cost, as the excess of the sum of payments transferred as part of a business combination, the value of the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22398 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">portion of shareholders\u2019 equity relating to non-controlling interests and the fair value of any interest previously</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7857 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">held in the acquired business over the Group\u2019s portion of the net fair value of the identifiable assets, liabilities</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">and contingent liabilities of the acquired company. If the value of the net assets acquired and liabilities assumed</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7860 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">on the acquisition date exceeds the sum of the transferred payments, the value of the non-controlling interests\u2019</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7861 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">portion of shareholders\u2019 equity and the fair value of any interest previously held in the acquired business, this</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7862 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:394.34pt\">excess value is recorded in the statement of profit or loss as income from the transaction.</span><span class=\"f charStyle-2293a859 ps22399\" style=\"width:2.77pt\"> </span></div><div class=\"ps7863 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Any changes in fair value allocation of the net assets acquired occurring once more information related to the</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7864 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">business acquired as per acquisition date becomes available during the measurement period (12 months from</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7865 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:279.96pt\">the date of acquisition), are included retrospectively in goodwill.</span></div><div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:477.92pt\">Definition of the business combination costs and shareholders\u2019 equity attributable to non-controlling interests</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">The cost of an acquisition is determined by the sum of the payments transferred as part of a business</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">combination, measured at fair value, on the acquisition date and at the value of the portion of shareholders\u2019<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">equity relating to non-controlling interests. Non-controlling interests relate to the portion of a consolidated</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">subsidiary shareholders\u2019 equity not directly or indirectly attributable to the Group. At the acquisition date,</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">components of non-controlling interests in the acquiree that are present ownership interests and entitle their</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:462.51pt\">holders to a proportionate share of the entity\u2019s net assets in the event of liquidation, are either measured:</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.03pt\">at the present ownership instruments\u2019 proportionate share in the recognised amounts of the acquiree\u2019s</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.97pt\">identifiable net assets, determined according to the rules set out by the accounting standard for business</span><span class=\"f charStyle-2293a859 ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:56.67pt\">combination;<span class=\"f ps21\"> </span></span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.42pt\">at fair value.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The designated methodology of measurement method of non-controlling interests is made for each business</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">combination on a transaction-by-transaction basis and is specified when the values deriving from the allocation</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:86.67pt\">process are shown.</span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">In the case of call options likely giving the acquirer present access to returns associated with the ownership</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">interest in the shares subject to the call, or in the case of put options granted to non-controlling interests giving</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">present access to the returns associated with the ownership interest in the shares subject to the non-controlling</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">interests put or in the case of a combination of both, it is assumed that the purchase will take place on the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">earliest possible date for the maximum number of shares and the business combination is accounted for as</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">though the acquisition is at 100% interest with the recognition of a financial liability at its fair value measured at</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">the present value of the expected cash outflow to be paid to the non-controlling shareholders at the expiry of the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">option as any contingent consideration; the liability is classified as a financial instrument and considered part of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">the acquisition consideration. Changes in the carrying amount of the financial liability are recognised in the</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.94pt\">statement of profit or loss.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">In the case of put option granted to non-controlling interests at the date of or after acquiring control of a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subsidiary, which does not provide a present ownership interest, the non-controlling interest is recognised on</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:41.67pt\">initial acq</span><span class=\"f charStyle-a0f5a13b ps22400\" style=\"width:454.54pt\">uisition and, under Group policy choice while the non-controlling interests put remains unexercised, the</span><span class=\"f charStyle-a0f5a13b ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps56\" style=\"width:263.3pt\">accounting at the end of each reporting period is as follows:</span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.98pt\">the amount that would have been recognised for the non-controlling interest value is determined by including</span><span class=\"f charStyle-a0f5a13b ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:402.16pt\">allocations of profit or loss, changes in OCI and dividends declared for the reporting period;</span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:336.6pt\">the non-controlling interest is derecognised as if it was acquired at that date;</span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.96pt\">a financial liability is recognised at the present value of the amount payable on exercise of the non-controlling</span><span class=\"f charStyle-a0f5a13b ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:57.2pt\">interests put;</span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:365.31pt\">the Group accounts for the difference between (b) and (c) as an equity transaction.</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">If the non-controlling interests put expires unexercised, the position is unwound so that the non-controlling</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:440.51pt\">interest is recognised at the amount it would have been as if the put option had never been granted.</span><span class=\"f charStyle-2293a859 ps22401\" style=\"width:13.85pt\">\u00a0 \u00a0  </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">In the case of business combinations made in stages, the interest previously held by the Group in the acquired</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">business is revalued at fair value on the date on which the control is acquired, and any resulting gains or losses</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:211.05pt\">are recognised in the statement of profit or loss.</span><span class=\"f charStyle-2293a859 ps22402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:156.11pt\">Goodwill in a business combination</span></div><div class=\"ps7260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">The goodwill acquired in a business combination is allocated to the individual cash-generating units or to the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">groups of cash-generating units likely to benefit from merger synergies, regardless of whether other assets or</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.15pt\">liabilities from the acquisition are assigned to these units or groups of units.</span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">In the event of a business disposal, the goodwill of the cash-generating unit connected to the disposal is</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">included in the carrying value of the net items sold by measuring its relative fair value, having as reference the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:437.7pt\">proceeds from the sale and the most recent fair value attributed to the related cash-generating unit.</span><span class=\"f charStyle-2293a859 ps22403\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:82.78pt\">Business disposal </span><span class=\"f charStyle-ca5f4806 ps22404\" style=\"width:48.9pt\">recognition</span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">The assets and liabilities of the disposal group are classified as held for sale and measured at their relative fair</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">values at the date of classification. Relative fair value is determined reflecting the price that would be received to</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">sell an asset or paid to transfer a liability in an orderly transaction between market participants. The relative fair</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">value method is used to allocate the consideration received proportionally to the fair values of the identifiable</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">assets and liabilities in the disposal group. Where goodwill has been allocated to a cash-generating unit ('CGU')</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">disposed in these circumstances is measured based on the relative values of the disposed operation and the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">portion of the cash-generating unit retained. Any difference between the carrying amount and the allocated fair</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:256.04pt\">value is recognised in profit or loss at the time of disposal.</span></div></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Property, Plant and Equipment, Right of Use Assets and Biological Assets<span id=\"i7ab0f0c6725c4fc4a6e25c73fcb2cbc0\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Property, plant and equipment are stated at cost less accumulated depreciation, which is applied on a straight-</span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:311.07pt\">line basis to estimated residual values over their expected useful lives.</span><span class=\"f charStyle-2293a859 ps18246\" style=\"width:2.77pt\"> </span></div><div class=\"ps1263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:484.32pt\">For right of use assets, please refer to the note 6 vii-\u2018Lease components in the statement of financial position\u2019.</span></div><div class=\"ps1266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">For biological assets accounting treatment, please refer to note 8 iii-\u2018Fair value information on assets and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:42.76pt\">liabilities\u2019.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps22413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Land, even if acquired in conjunction with a building, is not depreciated, nor are held-for-sale tangible assets,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">which are reported at the lower of their carrying amount and fair value less cost to sell. Barrels are depreciated<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">based on the useful life, which can vary depending on the maturing work in progress for the liquid. For lease-</span></div><div class=\"ps1275 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">hold-improvements, the period of depreciation is the shorter of the economic life of the asset and the contract</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">duration of the underlying lease agreement. For right of use assets, unless the Group is reasonably certain that</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">it will obtain ownership of the leased asset at the end of the lease term, they are amortised on a straight-line</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:401.55pt\">basis over their estimated useful life or the term of the agreement, whichever is the shorter.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps22414\" style=\"width:11.08pt\">\u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div><div class=\"ps1281 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">The Group depreciation rate ranges by asset category are as follows:</span></div><div class=\"ps22424 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1729 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:266.25pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps47 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">business-related properties and light construction:\u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22417 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22416\">\u00a0 1.5%-10%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8762 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">plant and machinery:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22419 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22418\"> 2.5%-12.5%</span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">furniture, office and electronic equipment:\u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps15097 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22420\">\u00a0 10%-20%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1089 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">vehicles:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22421 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps484\"> 20%-25%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps15164 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">miscellaneous equipment:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22423 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22422\">\u00a0  2%-30%</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">Depreciation ceases on the date on which the asset is classified as held for sale or on which the asset is<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22427 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:273.88pt\">derecognised for accounting purposes, whichever occurs first.</span></div><div class=\"ps22429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Depreciation rates are revised through an ongoing assessment of the residual useful life of each asset category.</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.59pt\"> </span></div><div class=\"ps22430 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">This assessment is conducted in accordance with the technical and physical condition of the assets, the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22432 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:467.74pt\">technological environment, external factors, and generally accepted market and industry valuation criteria.</span><span class=\"f charStyle-2293a859 ps22431\" style=\"width:2.77pt\"> </span></div><div class=\"ps22434 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The Group performs impairment tests when there is an indication of impairment at the level of individual fixed</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22435 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">asset or group of fixed assets, to ensure that property, plant and equipment are not carried at above their</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps22436 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:96.12pt\">recoverable amounts.</span></div><div class=\"ps22438 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Borrowing costs are capitalised as part of the cost of an asset, only when they are generally attributable to a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps22439 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:71.66pt\">qualifying asset.</span></div><div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps1483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:126.67pt\">Intangible assets recognition</span></div><div class=\"ps1534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Intangible assets with definite life are recorded at cost, net of accumulated amortisation and any impairment</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps4482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">losses. In the event they are acquired through business combinations, they are reported separately from</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps9922 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:483.3pt\">goodwill and brands, and measured at fair value, when this can reliably be measured, on the acquisition date.</span></div><div class=\"ps9923 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Intangible assets produced internally are not capitalised and are reported in the statement of profit or loss for the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9924 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">financial year in which they are incurred; there are no significant development costs to be considered. The costs</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">of innovation projects and studies are recorded in the income statement in full in the year in which they are</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps8834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:38.89pt\">incurred.<span class=\"f ps21\"> </span></span></div><div class=\"ps1834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Software represents the cost of purchasing assets and licences and, if incurred, external consultancy fees and</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">internal labour costs to prepare the technology so that it is capable of operating in the manner intended by</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps8836 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">management; there are normally no costs associated with development. These costs are recorded in the year in</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps2266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:399.93pt\">which the internal or external costs are incurred, to train personnel and other related costs.</span></div><div class=\"ps8837 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The following contracts are managed as a service contract with the related costs expensed as they are incurred:</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps2090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">cloud computing arrangements under which i) the Group contracts to pay a fee in exchange for a right to access</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">the supplier\u2019s application software for a specified term; ii) the cloud infrastructure is managed and controlled by</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.03pt\">the supplier, insofar as access to the software is on an \u2018as needed\u2019 basis over the internet or via a dedicated line</span><span class=\"f charStyle-2293a859 ps7894\" style=\"width:2.77pt\"> </span></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">and iii) the contract does not convey any rights over tangible assets to the Group. Any prepayment giving a right</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">to a future service is recognised as a prepaid asset. Detailed analysis is undertaken to determine whether the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:386.64pt\">implementation costs for software hosted under cloud arrangements can be capitalised.</span><span class=\"f charStyle-2293a859 ps22566\" style=\"width:2.77pt\"> </span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Intangible assets amortisation and impairment</span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">Intangible assets with a finite life are amortised on a straight-line basis in relation to their useful life and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">reviewed for impairment whenever events or circumstances indicate that the carrying amount may not be</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">recoverable. The amortisation period of intangible assets with a finite life is reviewed at least at the end of every</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">financial year in order to ascertain any changes in their useful life, which, if identified, will be treated as changes</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.09pt\">in estimates.</span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Other intangible assets with indefinite and definite life contain distribution rights and key money, the latter tested</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.24pt\">for impairment leveraging on a specialised third-party expert opinion connected to real estate assets.</span><span class=\"f charStyle-2293a859 ps22567\" style=\"width:3.45pt\"> </span><span class=\"f charStyle-2293a859 ps22568\" style=\"width:39.43pt\">Software</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:109.97pt\">amortisation rate is 20%.</span><span class=\"f charStyle-2293a859 ps22569\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps22570\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:224.93pt\">Intangible assets with indefinite life impairment test</span></div><div class=\"ps1227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Goodwill, brands and other intangible assets with an indefinite life are not amortised and are reviewed for</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impairment tests every year or more frequently if there is any indication that the asset may be impaired. The</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">annual approval of the impairment test results is performed by the Board of Directors of Davide Campari-Milano</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:480.15pt\">N.V., which takes place before the approval of the annual financial reports (consolidated and Company only).</span><span class=\"f charStyle-2293a859 ps22571\" style=\"width:2.77pt\"> </span></div><div class=\"ps1559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The ability to recover assets is ascertained by comparing the carrying amount to the related recoverable value,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:413.26pt\">which is represented by the higher of the fair value less cost of disposal, and the value in use.</span></div><div class=\"ps1561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">In the absence of a binding sale agreement, the fair value is estimated on the basis of recent transaction values</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">in an active market, or based on the best information available to determine the amount that could be obtained</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">from selling the asset. The value in use is determined by discounting expected cash flows resulting from the use</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">of the asset, and, if significant and reasonably determinable, the cash flows resulting from its sale at the end of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">its useful life. Cash flows are determined on the basis of reasonable, documented assumptions representing the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">best estimate of the future economic conditions that will occur during the remaining useful life of the asset, with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps9942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">greater weight given to external information. Growth rate assumptions are applied to the years beyond the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:479.75pt\">business plan horizon. The discount rate applied takes into account the implicit risk of the business segment.</span></div><div class=\"ps9944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">When it is not possible to determine the recoverable value of an individual asset, the Group estimates the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:323.32pt\">recoverable value of the cash-generating unit to which the asset belongs.</span></div><div class=\"ps9946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Impairment loss is recorded if the recoverable value of an asset is lower than its carrying amount by posting the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">related cost in the statement of profit or loss and is charged to other operating expenses. Goodwill impairments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:133.32pt\">can no longer be written back.</span></div><div class=\"ps22849 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vi.\u00a0  Other Non-Current Liabilities<span id=\"ie46aa3a946c84348a2fbbb94c09b7a22\"></span></span><span class=\"f charStyle-6c6fcc93 ps22848\"> </span></div><div class=\"ps22851 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps22852 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">For detailed information on the accounting policy on post-employment plans and share-based payments, please</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22853 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:454.39pt\">refer to note 7 v-\u2018Share-based payments\u2019 and 8 iv-\u2018Defined benefit and contribution plans\u2019, respectively.</span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Disposal groups are classified as held for sale when their recovery is expected to occur primarily through a sale</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">transaction rather than continued use. These items are measured at the lower of their carrying amount and fair</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:102.19pt\">value less costs to sell.</span></div><div class=\"ps3019 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps22912 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:368.61pt\">For details on the accounting policy, please refer to note 6 i-\u2018Financial instruments\u2019. </span><span class=\"f charStyle-58d8bcbe ps22911\" style=\"width:13.85pt\">\u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div><div class=\"ps23094 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Trade Payables<span id=\"i4fd8e36513544a0496d4992ea6146801\"></span></span></div><div class=\"ps23096 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:365.84pt\">For details on the accounting policy, please refer to note 6 i-\u2018Financial instruments\u2019.</span><div class=\"ps23124 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Inventories and Biological Assets<span id=\"icf3c4835487e44a98dd170f5785536e7\"></span></span></div><div class=\"ps23126 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps23127 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Inventories are stated at the lower of cost and net realisable value. Costs of finished products include raw</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps23128 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">materials, supplies and consumables, direct labour and expenses and an appropriate proportion of production</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps23129 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">and other overheads. Cost is calculated at the weighted average cost incurred in acquiring inventories. Maturing<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23130 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">inventory includes the depreciation cost of the barrels used in the ageing process on a straight-line basis over</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23131 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">the ageing horizon. Maturing inventory, as well as biological assets that, due to their nature, are retained for<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23132 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">more than one year, are classified as current assets, as they are expected to be realised in the normal operating<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23133 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:25.55pt\">cycle.</span></div><div class=\"ps23134 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">For detailed information on the accounting policy for inventory biological assets, please also refer to note 8</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps23136 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:216.06pt\">iii-\u2018Fair value information on assets and liabilities\u2019</span><span class=\"f charStyle-2293a859 ps23135\" style=\"width:2.77pt\">.</span></div><div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps23189 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps23190 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:297.73pt\">Financial instruments held by the Group are categorised as follows.</span></div><div class=\"ps23192 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:240.55pt\">Financial assets, including trade and other receivables<span class=\"f ps21\"> </span></span></div><div class=\"ps14661 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets include investments, short-term securities and financial receivables, which, in turn, include the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23193 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">positive fair value of financial derivatives, trade and other receivables and cash and cash equivalents. Trade</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23194 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">receivables arise from contracts with customers and are recognised when performance obligations are satisfied,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23195 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">and the consideration due is unconditional as only the passage of time is required before the payment is</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps23196 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:40.56pt\">received.</span></div><div class=\"ps23197 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">Cash and cash equivalents include cash, bank deposits and highly liquid securities that are readily convertible</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23198 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">into cash and are subject to an insignificant risk of a change in value. Deposits and securities included in this</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23199 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">category mature in less than three months based on the conditions existing on the date of the acquisition of the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23200 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">asset. Current securities include short-term securities or marketable securities that represent a temporary</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23202 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:446.61pt\">investment of cash and do not meet the requirements for classification as cash and cash equivalents.</span><span class=\"f charStyle-2293a859 ps23201\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps23204 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Financial assets are classified and measured based on a business model developed by the Group. The</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23205 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">business model has been defined at a level that reflects the way in which groups of financial assets are</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps23206 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">managed to achieve a particular business objective. The model\u2019s measurement process requires an<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23207 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">assessment based on both quantitative and qualitative factors relating to, for example, the way in which the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23208 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">performance of the financial assets in question is communicated to management with strategic responsibilities<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23209 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:364.96pt\">and the way in which the risks connected with these financial assets are managed.</span></div><div class=\"ps22484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:435.43pt\">The Group measures a financial asset at amortised cost if it meets both of the following conditions:</span></div><div class=\"ps23210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.04pt\">it is held under a business model whose objective is to hold assets aiming to collect contractual cash flows;</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:19.45pt\">and,</span></div><div class=\"ps23212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.94pt\">its contractual terms and conditions are such that the cash flows generated by the asset are attributable</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:281.06pt\">exclusively to payments of the principal and the related interest.</span></div><div class=\"ps23214 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">Financial assets measured at amortised cost are measured at fair value at the time of initial recognition;</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps23215 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">subsequent measurements reflect the repayments made, the effects of applying the effective interest method</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">and any write-downs. Any gain or loss made on derecognition is recognised in profit or loss, together with</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:156.69pt\">foreign exchange gains and losses.</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets also include investments in companies that are not held for trading. These assets are strategic</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">investments, and the Group has decided to recognise changes in the related fair values through profit or loss</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:44.4pt\">(\u2018FVTPL\u2019).</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets represented by debt securities are classified and valued in the statement of financial position</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">based on the business model adopted to manage these financial assets and the financial flows associated with</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">each financial asset. They are measured at fair value through other comprehensive income (\u2018FVOCI\u2019) if all the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:198.3pt\">conditions required by IFRS 9 are respected.</span><span class=\"f charStyle-2293a859 ps23216\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps23217\" style=\"width:11.08pt\">\u00a0 \u00a0 </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:135.52pt\">Impairment of a financial asset</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets are tested for recoverability by applying an impairment model based on the expected credit loss</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:32.76pt\">(\u2018ECL\u2019).</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group applies the simplified method for trade receivables, which considers the probability of default over</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">the financial instrument\u2019s life (lifetime expected credit losses). In making impairment assessments, the Group</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">considers its historical credit loss experience, adjusted for forward-looking factors specific to the nature of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Group\u2019s receivables and economic environment. If any such evidence exists, an impairment loss is recognised</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">under selling, general and administrative expenses. More specifically, non-performing receivables are analysed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">based on the debtor\u2019s creditworthiness and ability to pay the sums due, as well as the degree of effective</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.92pt\">coverage provided by any collateral and personal guarantees in existence.</span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">With regard to trade receivables, two approaches are applied to estimate impairment, based on the specific</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">characteristics of the individual countries in which the Group operates and its constant growth at a global level:</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">one is a matrix-based model and the other applies the probability of default (\u2018PD\u2019) obtained from external</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">sources specialising in the country in which each subsidiary is located. The provision matrix, including the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:331.6pt\">overall actual result of the year, is reported in the relevant disclosure notes.</span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">A financial asset is impaired when internal or external information indicates that it is unlikely that the Group will</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:154.97pt\">receive the full contractual amount.</span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Lastly, with regard to other financial assets measured at amortised cost, and, more specifically, cash and cash</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">equivalents, the impact in terms of expected loss is not considered material and for this reason no adjustment is</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:111.66pt\">made to the book values.</span><span class=\"f charStyle-2293a859 ps5973\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps23218\" style=\"width:72.02pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:238.88pt\">Financial liabilities, including trade and other payables</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Financial liabilities include financial payables, bonds and loans due to banks, which, in turn, include the negative</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">fair value of financial derivatives, trade payables and other payables including contingent consideration and</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:313.32pt\">variable payments deriving from business combinations or asset deals.</span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Financial liabilities are classified and measured at amortised cost, except for financial liabilities that are initially<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">measured at fair value, i.e., derivative instruments, financial liabilities relating to earn-out linked to business</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.29pt\">combinations and financial liabilities for put options over non-controlling interests.</span><span class=\"f charStyle-2293a859 ps23219\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Trade and other payables are initially recognised at fair value including transaction costs and subsequently</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:112.19pt\">carried at amortised cost.</span><span class=\"f charStyle-2293a859 ps3146\" style=\"width:41.55pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Derecognition of financial assets and liabilities</span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:467.52pt\">primarily derecognised (i.e., removed from the Group\u2019s consolidated statement of financial position) when:</span><span class=\"f charStyle-2293a859 ps23220\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:279.37pt\">the rights to receive cash flows from the asset have expired, or,</span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482pt\">the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">the received cash flows in full without material delay to a third party under a \u2018pass-through\u2019 arrangement and</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.99pt\">either (i) the Group has transferred substantially all the risks and rewards of the asset, or (ii) the Group has</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.01pt\">neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:87.19pt\">control of the asset.</span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">When an existing financial liability is replaced by another from the same lender on substantially different terms,</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">derecognition of the original liability and the recognition of a new liability. The difference in the respective</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:283.26pt\">carrying amounts is recognised in the statement of profit or loss.</span><span class=\"f charStyle-2293a859 ps23221\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">For detailed information on the accounting policy for put and call options over joint-ventures agreements, please</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:423.16pt\">refer to note 3 xii-\u2018Share of profit (loss) of joint-ventures and Profit (loss) from other investments\u2019</span><span class=\"f charStyle-2293a859 ps23222\" style=\"width:2.77pt\">.</span></div><div class=\"ps7834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:11.08pt\">\u00a0 \u00a0 </span></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:205.01pt\">Financial derivatives and hedging transactions</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Financial derivatives embedded in contracts in which the primary element is a financial asset that falls within the</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">scope of IFRS 9 are not treated separately. The hybrid instrument is instead examined as a whole for</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.85pt\">classification in the statement of financial position and subsequent measurement.</span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Financial derivatives are used exclusively for hedging purposes to reduce exchange and interest rate risk. They</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">are only accounted for by applying the methods established for hedge accounting (fair value hedge or cash flow</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">hedge) if, at the start of the hedging period, the hedging relationship has been designated. It is assumed that the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">hedge is highly effective: this effectiveness must be reliably measured during the accounting periods for which it</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:286.62pt\">is designated. All financial derivatives are measured at fair value.</span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Where financial instruments meet the requirements to be reported using hedge accounting procedures, the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.08pt\">accounting treatment related to fair value hedge or cash flow hedge is applied.<span class=\"f ps21\"> </span></span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">If hedge accounting cannot be applied, any gains or losses resulting from measuring the financial derivative at</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:268.24pt\">its present value are posted to the statement of profit or loss.</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The Group is exposed to certain risks related to its ongoing business operations. The primary risks managed</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:329.93pt\">using derivative instruments are foreign currency risk and interest rate risk.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Derivatives are designated as hedging instruments in the form of i) foreign exchange forward and option</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">contracts, elected as cash flow hedges to hedge highly probable forecast sales and purchases in different</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">currencies compared to \u20ac and, ii) interest-rate swap contracts to mitigate the risk associated with variable</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:378.85pt\">interest rate changes on loan and bond agreements not issued at a fixed interest rate.</span><span class=\"f charStyle-2293a859 ps23223\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The Group also uses derivatives not designated as hedging instruments to reflect the change in fair value of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">foreign exchange rates of forward and option contracts that are not elected in hedge relationships, but are,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:443.86pt\">nevertheless, intended to reduce the level of foreign currency risk for expected sales and purchases.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">For Campari Group, net exposure to foreign exchange effects is limited to highly probable intra-group</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">transactions among Group companies relating to certain sales and purchases, regulated in currencies other</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:19.45pt\">than</span><span class=\"f charStyle-58d8bcbe ps23224\" style=\"width:4.3pt\"> </span><span class=\"f charStyle-2293a859 ps23225\" style=\"width:472.48pt\">the functional currencies of the companies. Although these transactions represent only a portion of the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">overall business, the Group determines the net exposure to the primary currencies (US$, GBP, AUD) based on</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">its predicted intercompany sales and purchases up to 18 months. Moreover, the Group determines the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">existence of an economic relationship between the hedging instrument and hedged item based on the currency,</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">amount and timing of their respective cash flows. The Group\u2019s reference is the budget exposure split by</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">currencies and, as effectively as possible, any under/over exposure which may arise through plain vanilla</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">currency derivatives. The derivative covers the period of exposure from the point the cash flows of the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">transactions forecasted up to the point of settlement of the resulting receivable or payable that is denominated in</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">the foreign currency. Derivative contracts aiming to mitigate currency exchange risks are dynamically and</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">qualitatively managed based on business needs and specific contexts and circumstances. These are not framed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">within fixed or quantitative policies regarding the percentage of coverage to be achieved. To avoid excessive</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">coverage, the budget for future transactions is typically hedged at a level between 50% and 90% throughout the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.45pt\">whole year. In the hedge relationships the main sources of ineffectiveness are:</span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:215.35pt\">interest rate differentials between currencies and</span><span class=\"f charStyle-2293a859 ps23226\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.04pt\">discrepancies between invoices issued and hedging contracts (i.e., changes in the timing of the hedge</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.99pt\">transaction).</span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Regarding derivative contracts intended to hedge interest rate exposures, they are namely connected with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">financing and there is no established quantitative policy concerning the optimal level of exposure to fixed or<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">variable rates: the Group manages its interest rate risk by having a balanced portfolio of fixed and variable rate</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">loans and borrowings. The preferred exposure to fixed or variable rates is dynamically managed centrally within</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">the Group, considering current and future market conditions, the Group's level of indebtedness, business</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">performance and in the context of the Group's expansion initiatives. The Group determines the existence of an</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">economic relationship between the hedging instrument and hedged item based on the reference interest rates,</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">tenors, repricing dates and maturities and the notional or par amount.</span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps20060\" style=\"width:72.02pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:92.79pt\">Financial guarantees</span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">The Group recognises financial guarantees as a financial liability if the likelihood of these guarantees being</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">called is assessed not to be remote and the Group is expected to be liable for any legal obligation in respect of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">these financial guarantee agreements. Financial guarantee contract liabilities are measured initially at their fair</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">value, with subsequent remeasurement impacting profit or loss. They are represented as a long- or short-term</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">financial liability, depending on the time of the expected execution of the guarantees. If the likelihood of these</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">guarantees being called is assessed to be remote, they are treated as commitments with disclosure</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">requirements only. This occurs when they are represented as other forms of security in favour of third parties,</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:361.64pt\">such as customs guarantees for excise duties and guarantees to grant credit lines</span><div class=\"ps23881 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Lease Components in the Statement of Financial Position<span id=\"i04d5a7a1a17f4f86bd78ec08746568e1\"></span></span></div><div class=\"ps23883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps23884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The Group has various agreements in place for the use of offices, vehicles, machinery, shops and other minor</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps23885 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">assets belonging to third parties. Each agreement is subject to a detailed analysis to define whether or not a</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23886 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">right of use/financial liability has to be recognised. Variable lease payments that are not linked to an index or</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23887 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:368.22pt\">rate continue to be charged to the statement of profit or loss as costs for the period.</span></div><div class=\"ps23888 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Lease agreements are generally entered into for a term of 3-10 years but may contain options to extend them.</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.59pt\"> </span></div><div class=\"ps23889 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">The terms of a lease are negotiated individually and may contain a wide range of different terms and conditions.</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps23890 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">Such agreements do not include covenants, but the leased assets may be used to guarantee the liability arising<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23891 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:136.62pt\">from contractual commitments.<span class=\"f ps21\"> </span></span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">The value assigned to the right of use corresponds to the amount of the lease liabilities recognised, plus initial</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">direct costs incurred, lease payments settled on the start date of the agreement or previously and restoration</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">costs, net of any lease incentives received. Restoration costs, which may be recognised in rare cases, normally</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">relate to offices, for which there could be a contractual requirement to restore them to their original state at the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">end of the lease agreement. The Group estimates the restoration obligation based on the agreement with the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">lessor, or by using expert valuations of third parties. The value of the liability, discounted to present value, as</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">determined above, increases the right of use of the underlying asset and a dedicated provision is created to</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:27.02pt\">offset.</span><span class=\"f charStyle-2293a859 ps23892\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">The discount rate used to measure the financial liability is the incremental borrowing rate (\u2018IBR\u2019) when the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">implicit interest rate in the lease agreement cannot be easily determined (explicit interest rates in lease</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">agreements are rare). The incremental borrowing rates used to evaluate leasing contracts are determined by</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">the Group and are revised on a recurring basis; they are applied to all agreements with similar characteristics,</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">which are treated as a single portfolio of agreements. The rates are determined using the average effective debt</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">rate of the subsidiary, appropriately adjusted and the most important elements considered in adjusting the rate</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">are the credit-risk spread of each country observable on the market and the different durations of the lease</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:55.56pt\">agreements.<span class=\"f ps21\"> </span></span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">The term of the lease is calculated considering the non-cancellable period of the lease together with a) the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">periods covered by an option to extend the agreement, if it is reasonably certain that it will be exercised, or b)</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">any period covered by an option to terminate the lease contract, if it is reasonably certain that it will not be</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">exercised. The Group assesses whether it is reasonably certain that any exercising of such options to extend or</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">to terminate the agreements will take place, considering all the relevant factors that create a financial incentive</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:82.77pt\">for such decisions.</span><span class=\"f charStyle-2293a859 ps22412\" style=\"width:13.85pt\">\u00a0 \u00a0  </span></div><div class=\"ps24594 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Shareholders\u2019 Equity<span id=\"icd9d2b9934a24489a733c940a8ef9e47\"></span></span></div><div class=\"ps24596 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps24597 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.87pt\">Own shares (both ordinary and special voting shares) are reported as a reduction in shareholders\u2019 equity.</span></div><div class=\"ps25529 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Share-Based Payments<span id=\"i60740e306d9845f1896e76a736d638d0\"></span></span></div><div class=\"ps3972 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps3973 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-b96b9181 ps1256\" style=\"width:232.54pt\">Compensation plans in the form of stock options</span></div><div class=\"ps3974 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The Group has multiple incentive plans in place, including benefits in the form of stock option plans, governed in</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps3978 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">accordance with the shareholders\u2019 resolution, pursuant to applicable law and implemented by means of a<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">specific regulation (\u2018Stock Option Regulations\u2019). The purpose of the plan is to offer beneficiaries, who occupy</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps3981 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">key positions in the Group the opportunity to own shares in Davide Campari-Milano N.V., thereby aligning their</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps3985 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">interests with those of other shareholders and fostering loyalty, in the context of the strategic goals to be</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1216 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">achieved. The recipients are employees, directors and/or individuals who regularly work for one or more Group</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps3986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">companies, who have been identified by the Board of Directors of Davide Campari-Milano N.V., and who, on the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7502 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">approval date of the plan and until the date that the options are exercised, have worked as employees and/or<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7505 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">directors and/or in any other capacity at one or more Group companies without interruption. The Board of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps19843 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Directors of Davide Campari-Milano N.V. has the right to draft regulations, select beneficiaries and determine<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps19844 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.29pt\">the share quantities and values for the execution of the stock option plans.</span></div><div class=\"ps18847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">The fair value of stock options is represented by the value of the option calculated by applying the Black-<span class=\"f ps21\"> </span></span></div><div class=\"ps19845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Scholes model, and the grant date starts once the options are assigned. Volatility is estimated with the help of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps19846 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">data supplied by a market information provider together with a leading bank, and corresponds to the estimate of</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps19847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">volatility recorded in the period covered by the plan. The stock options are recorded at fair value with an</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps19848 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">offsetting entry in the stock option reserve. The dilutive effect of options not yet exercised is included in the</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:176.67pt\">calculation of diluted earnings per share</span><span class=\"f charStyle-2293a859 ps25530\" style=\"width:19.39pt\">.\u00a0 \u00a0 \u00a0 </span><span class=\"f charStyle-58d8bcbe ps25531\" style=\"width:8.31pt\">\u00a0  </span><span class=\"f charStyle-58d8bcbe ps25532\" style=\"width:8.31pt\">\u00a0  </span><div class=\"ps25580 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps25581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:496.21pt\">Share-based payments in the form of the Employees Share Ownership Plan ('ESOP') and Mid-Term</span><span class=\"f charStyle-b96b9181 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps14348 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:99.34pt\">Incentive Plan (\u2018MTI\u2019)</span></div><div class=\"ps11490 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Shareholders\u2019 Meeting of 8 April 2021 approved the resolution for the implementation of the Employee</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps25582 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Share Ownership Plan (\u2018ESOP\u2019). ESOP is a share matching plan offering employees the opportunity to invest in</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps21000 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Davide Campari-Milano N.V. shares. The ESOP is intended for all Group employees, with the exception of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25583 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">members of the Board of Directors. These employees will be offered the opportunity to allocate certain amounts</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps25584 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">to the plan, which will be used to purchase shares of Davide Campari-Milano N.V. (the \u2018Purchased Shares\u2019) by</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps25585 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">the plan administrator and, after a three-year vesting period, complementary free shares will be awarded. The</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps25587 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:269.99pt\">free shares granted represent an equity-settled arrangement.</span><span class=\"f charStyle-2293a859 ps25586\" style=\"width:2.77pt\"> </span></div><div class=\"ps24847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The accounting treatment for the ESOP follows the accounting treatment applied for benefits granted in the form</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps24848 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">of stock option plans. The fair value of the ESOP Plan is represented by the value of the option calculated by<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25588 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">applying the Black-Scholes model. In the event that the granting of the benefit in the form of a share-based</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25589 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">scheme is not permitted or it is not effective on the basis of specific national legislation, the same benefits are</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps25590 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">granted in the form of a phantom stock option plan. These plans confer the same rights as the ESOP but are</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps25591 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">cash-settled and the initial fair value measurement is calculated by applying the Black-Scholes model. The cost</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps25592 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">resulting from this valuation is spread over the vesting period, with an impact on the profit or loss using a long-</span></div><div class=\"ps25593 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">term liability offsetting account (instead of an equity reserve). As a subsequent measurement, at each balance</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps25594 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">sheet date and at least once a year and on the settlement date, the value of the phantom plan must be fully<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">remeasured on the basis of the current market value of the Davide Campari-Milano N.V. shares. Any cumulative</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps11386 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.05pt\">changes in fair value are recognised in the profit or loss in the remeasurement period to align the liability with</span><span class=\"f charStyle-2293a859 ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps11387 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:260.17pt\">the \u2018pro-rata\u2019 value of the expected bonus payment payout.</span><span class=\"f charStyle-2293a859 ps25595\" style=\"width:2.77pt\"> </span></div><div class=\"ps1993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">On 13 April 2022, the Annual General Meeting approved a Mid-Term Incentive Plan (\u2018MTI\u2019) based on Campari</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps11389 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">shares and aimed at rewarding Camparistas for their active participation in the Group performance and fostering</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps11390 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">their retention. Eligible Camparistas will be granted a right to receive a number of Campari shares for free,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps11391 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subject to their uninterrupted employment over a three-year vesting period from the grant date. The number of</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps11392 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">award rights to be granted to each beneficiary will be calculated based on the beneficiary\u2019s annual base gross</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps11393 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">salary as of 31 December preceding the grant date. The MTI Plan approved in April 2022 foresees 3 grants for</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps11394 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:69.98pt\">the following thr</span><span class=\"f charStyle-2293a859 ps9385\" style=\"width:41.11pt\">ee years.</span></div><div class=\"ps11396 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">The ESOP and MTI information documents, drafted in accordance with applicable legislation, are available on</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps11397 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:108.69pt\">the Company\u2019s website: </span><span class=\"f charStyle-6e73145d ps25596\" style=\"width:228.93pt\">www.camparigroup.com/en/page/group/governance</span><span class=\"f charStyle-2293a859 ps25597\" style=\"width:2.77pt\">.</span></div><div class=\"ps25634 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps25635 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b96b9181 ps56\">Share-based payments in the form of Long-Term Incentive Plan (\u2018LTI\u2019)</span></div><div class=\"ps9727 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The General Meeting of 11 April 2024 approved a Remuneration Policy that entitles key management personnel</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25636 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">and senior employees to receive Long-Term Incentive Plans. The plans entitle eligible Camparistas to receive a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps25637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">number of Campari shares for free, subject to their uninterrupted employment over a contractually defined</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps25638 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">vesting period from the grant date (Restricted Stock Units or \u2018RSU\u2019) and a number of Campari shares for free,</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps25639 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subject to the achievement of Campari Group\u2019s performance conditions (Performance Stock Units or \u2018PSU\u2019) to</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps25640 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">be achieved over the vesting period. The performance conditions are both market conditions represented by the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22436 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">relative Total Shareholders\u2019 Return (\u2018TSR\u2019) and non-market conditions represented by renewable energy targets.</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.59pt\"> </span></div><div class=\"ps25641 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">The fair value of these plans has been measured based on the following: for RSU the number of award rights to</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps12486 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">be granted to each beneficiary is calculated based on the beneficiary\u2019s annual base gross salary as of 31<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25642 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">December preceding the grant date; for PSU the fair value has been measured using a stochastic or Black-</span></div><div class=\"ps25643 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Scholes method, where service and non-market conditions attached to the agreements were not taken into<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25644 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:141.1pt\">account in measuring fair value.</span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Shareholders\u2019 Equity Attributable to Non-Controlling Interests<span id=\"i6ddebcb4bc494d54b2188a174807a082\"></span></span></div><div class=\"ps1254 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">For accounting policy over non-controlling interests relating to the portion of a subsidiary\u2019s shareholders\u2019 equity</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">that is not directly or indirectly attributable to the Group, please refer to note 4 i \u2018Acquisition and sale of</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:238.34pt\">businesses and purchase of non-controlling interests\u2019.</span></div><div class=\"ps25952 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ix.\u00a0  Basic and Diluted Earnings per Share<span id=\"ica4e63769afc497bb00ea76cba230dc5\"></span></span></div><div class=\"ps25953 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps3005 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Basic earnings per share are calculated by dividing the Group\u2019s net result for the period by the weighted</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21258 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:429.27pt\">average number of shares outstanding during the period, excluding the Group\u2019s own shares held.</span></div><div class=\"ps25954 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">For the purposes of calculating the diluted earnings (loss) per share, the weighted average of outstanding</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25955 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">shares is adjusted in line with the assumption that all potential share-based payment plans and outstanding</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:221.44pt\">convertible bond shares with diluting effect will be </span><span class=\"f charStyle-2293a859 ps25956\" style=\"width:43.9pt\">converted</span><span class=\"f charStyle-2293a859 ps25957\" style=\"width:11.08pt\">.\u00a0  <span class=\"f ps21\"> </span></span><div class=\"ps25977 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Provisions for Risks, Charges and Contingent Assets and Liabilities<span id=\"ia9081d352c7d4bd0a5d90f2f36c22ab9\"></span></span></div><div class=\"ps3959 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps3960 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Provisions arising from legal or constructive obligations resulting from past events are reliably estimated and</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps3961 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">reviewed periodically to reflect changes in circumstances, timescales and discount rates. Revisions to estimates</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3962 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">of provisions are booked to the same statement of profit or loss item that contains the accrual, or, if the liability</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">relates to tangible assets (i.e., dismantling and restoration), these revisions are reported as an offsetting entry to</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps3963 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">the related asset. Where the financial impact of the timing is significant and the payment dates of the obligations</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">can be reliably estimated, the provision is discounted to present value. The related amount over time is</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17511 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">allocated to the statement of profit or loss. When the Group expects that all or part of the provisions will be</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25980 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">repaid by third parties, a receivable is recorded under assets only if it is virtually certain and the accrual and</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25981 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:276.03pt\">related repayment are posted to the statement of profit or loss.</span></div><div class=\"ps1580 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Dedicated restructuring provisions are only reported if there is a restructuring obligation deriving from a formal</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17017 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">detailed restructuring program, which has led to a reasonable expectation by interested parties that the</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25982 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">restructuring will be carried out with an outflow of resources whose amount can be reliably estimated, either</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1540 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">because the process has already started or because the main features of the restructuring program have</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1541 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:128.35pt\">already been communicated.</span></div><div class=\"ps1542 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.23pt\">For detailed information on the accounting policy related to tax provisions, refer to note 3 xiii-\u2018Taxation\u2019.</span><span class=\"f charStyle-2293a859 ps25983\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps1543 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">The Group may be involved in legal proceedings, in respect of which it is not possible to make a reliable</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1544 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">estimate of any expected settlement. Such cases are reported as contingent liabilities with a specific disclosure</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17156 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:180.55pt\">made available for information purposes.</span><span class=\"f charStyle-2293a859 ps25984\" style=\"width:2.77pt\"> </span></div><div class=\"ps25985 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The Group discloses purely contingent assets and provides information when there are material amounts that</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps25986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">are highly likely to be realised. The Group records the relevant asset only when the original uncertainty relating</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25988 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.68pt\">to it no longer applies and it is virtually certain that the asset will be realised</span><span class=\"f charStyle-2293a859 ps25987\" style=\"width:2.77pt\">.</span></div><div class=\"ps26126 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Commitments and Risks<span id=\"ibc2397973d78493993013f4c55e0c2b3\"></span></span></div><div class=\"ps26128 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps24677 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">Guarantees are disclosed at fair value determined based on the present value of the difference in cash flows</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps26129 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">between the contractual payments required under the debt instrument and the payments that would be required</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps26130 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">without the guarantee, or the estimated amount that would be payable to a third party for assuming the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26131 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:50.56pt\">obligations.</span></div><div class=\"ps26133 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:404.94pt\">For the accounting policy on financial guarantees, please refer to note 6-\u2018Net financial debt\u2019.</span><span class=\"f charStyle-2293a859 ps26132\" style=\"width:2.77pt\"> </span></div><div class=\"ps26151 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Fair Value Information on Assets and Liabilities<span id=\"if2edeecf2a55458e960be05d8323a9a7\"></span></span></div><div class=\"ps24485 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps24487 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:188.86pt\">Fair value on financial assets and liabilities</span></div><div class=\"ps24488 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:408.78pt\">For fair value information on financial assets and liabilities, please refer to note 6 i-\u2018Financial </span><span class=\"f charStyle-6e73145d ps26152\" style=\"width:56.65pt\">instruments\u2019.</span><span class=\"f charStyle-6e73145d ps1927\" style=\"width:2.77pt\"> </span></div><div class=\"ps26153 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:133.88pt\">Fair value on biological assets<span class=\"f ps21\"> </span></span></div><div class=\"ps26154 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group\u2019s biological assets include grapes for champagne production, sugar cane plantations for rum</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26155 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">production and agave for tequila/mezcal production, which are used as raw materials for the production of those</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps26156 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:28.87pt\">spirits.</span><span class=\"f charStyle-2293a859 ps6790\" style=\"width:2.77pt\"> </span></div><div class=\"ps26157 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">Grapevines remain classified as fixed biological assets valued at cost, net of accumulated depreciation and</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps17581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">accumulated impairment losses. Immature vines are stated at accumulated cost. Capitalisation of costs ceases<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26158 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">when the vines reach maturity. Depreciation commences when the grapevines are considered mature, which is</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26159 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">when they produce their first commercially viable crop. Grapes growing on the plant are immediately classified</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26160 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">as biological inventory since agricultural output covers a one-year period and the harvest is expected to occur in</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps26161 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">the second half of the year. Taking into account the biological and vegetative cycle, all the costs incurred in</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps15429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">anticipation of the future harvest (services, products and other ancillary costs) are considered as inventory in</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15430 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">current biological assets at the reporting date, at a value that is in line with the fair value of the growing grapes<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15431 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:249.43pt\">based on available information on commodities markets.</span></div><div class=\"ps15433 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">Sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps12184 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">depreciation and accumulated impairment losses up to the harvest, which occurs from February to June. At</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps12185 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">harvest time, the agricultural output that covers a one-year period is classified as an inventory item at a value</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps12186 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">estimated based on the costs of infrastructure, land preparation and sugar cane cultivation, with reference to an</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">active market for comparable plantations and similar output in terms of age and qualitative characteristics, if<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:42.23pt\">available.</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Agave plantations remain classified as fixed biological assets valued at cost, net of accumulated depreciation</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">and accumulated impairment losses. The vegetative cycle for the ripening of the agave fruit is approximately six</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">years. During this period, the agave plants have not yet matured to be used for distillation purposes but can</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">theoretically be sold as medium-aged plants. Agave cannot be distinguished from planting and can only be</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:81.93pt\">harvested once. T</span><span class=\"f charStyle-2293a859 ps26162\" style=\"width:414.26pt\">he value of the growing product is represented as biological inventory and the reported fair</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">value is estimated on the basis of the costs of infrastructure, soil preparation and agave cultivation, in the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">absence of an active reference market for comparable plantations and similar productions in terms of age and</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.42pt\">qualitative characteristics.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The following biological assets are not measured at fair value, and consequently are not represented in this</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:82.22pt\">disclosure section:</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">grapevines and agave plantations which remain classified as fixed biological assets valued at cost, net of</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:278.9pt\">accumulated depreciation and accumulated impairment losses,</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:332.21pt\">depreciation and accumulated impairment losses, up to the annual harvest.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Fair value measurement of current biological assets in inventory (agricultural produce: agave, grapes and sugar)</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">is determined based on the sale price net of estimated sales costs, if available, or having as the main reference</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">the total production costs in case the agricultural product is so peculiar that there is an absence of any active</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:486.02pt\">reference market for comparable plantations and similar output in terms of age and qualitative characteristics. </span><span class=\"f charStyle-2293a859 ps26163\" style=\"width:2.77pt\"> </span></div><div class=\"ps26515 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Defined Benefit and Contribution Plans<span id=\"ie00818342c8e417ebceb6ac5d03ee5fc\"></span></span></div><div class=\"ps17523 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps26517 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:124.92pt\">Post-employment benefits</span></div><div class=\"ps26518 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:490.29pt\">Group companies provide post-employment benefits to staff, both directly and by contributing to external funds.</span></div><div class=\"ps3023 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">The procedures for providing these benefits vary depending on the legal, fiscal and economic conditions in each</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps26519 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:163.31pt\">country in which the Group operates.</span></div><div class=\"ps26520 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:93.89pt\">Defined benefit plans</span></div><div class=\"ps25680 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">The Group\u2019s obligations and the annual cost reported in the statement of profit or loss are determined by</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:270.55pt\">independent actuaries using the projected unit credit method.</span></div><div class=\"ps25688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The costs associated with an increase in the present value of the obligation, as the time for payment of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17251 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">benefits draws nearer, are included under financial expenses, while the service costs are posted under the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps26522 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:354.4pt\">reporting line of cost of sales and selling, general and administrative expenses.\u00a0 <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps26521\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps16012 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:115.56pt\">Defined contribution plans</span></div><div class=\"ps26523 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Based on legal or contractual obligations, or on a voluntary basis, the Group fulfils post-employment employee<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26524 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">obligations by paying contributions to a separate entity (publicly or privately administered pension funds),</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps26525 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">without making any actuarial calculation. At the end of the financial year, any liabilities for contributions to be</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps26526 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">paid are included in 'Other current liabilities\u2019, while the cost for the period is recognised under the reporting line</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:288.31pt\">of cost of sales and selling, general and administrative expenses.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-426": {
   "value": "<div class=\"ps19793 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b817d055 ps56\">2.\u00a0  Accounting Information and Material General Accounting Policies<span id=\"if3d109f720944e06ac47bf85ac675cc7\"></span></span></div><div class=\"ps19802 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">The accounting standards adopted by the Group are the same as those that were applied for the annual</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps19803 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">financial statements for the year ended 31 December 2024, except for the accounting standards specified in<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps19804 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">note 2 vii-\u2018Change in accounting standards-Summary of the new accounting standards endorsed and adopted</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps19805 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">by the Group from 1 January 2025\u2019. For the year ended 31 December 2025 there were no changes in</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps19807 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:144.99pt\">accounting estimates and errors.</span><span class=\"f charStyle-58d8bcbe ps19806\" style=\"width:2.77pt\"> </span></div><div class=\"ps21204 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Change in Accounting Standards<span id=\"i16de08ddb1ff40669a56ee4e5b63bb0e\"></span></span></div><div class=\"ps21210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-da37ff7c ps1250\" style=\"width:84.03pt\">Summary of the <span id=\"i04217860190f44d5aafbca4e9c5f3177\"></span></span><span class=\"f charStyle-da37ff7c ps21206\" style=\"width:180.6pt\">New Accounting Standards Endorsed<span class=\"f ps21\"> </span></span><span class=\"f charStyle-da37ff7c ps21207\" style=\"width:28.06pt\"> and </span><span class=\"f charStyle-da37ff7c ps21208\" style=\"width:39.04pt\">Adopted</span><span class=\"f charStyle-da37ff7c ps21209\" style=\"width:107.81pt\"> by the Group from 1</span><span class=\"f charStyle-da37ff7c ps370\" style=\"width:2.78pt\"> </span></div><div class=\"ps21211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-da37ff7c ps56\" style=\"width:63.35pt\">January 2025</span></div><div class=\"ps21213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">These amendments applied for the first time in 2025 but did not have a significant impact to be reported on<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21214 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:233.68pt\">Campari Group\u2019s Consolidated Financial statements.<span class=\"f ps21\"> </span></span></div><div class=\"ps21216 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Amendments to IAS 21-\u2018The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability\u2019 (issued</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps21217 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">on 15 August 2023). The amendments clarify how an entity should assess whether a currency is exchangeable<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21218 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">and how it should determine a spot exchange rate when exchangeability is lacking. The amendments also</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps21219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">require disclosure of information that enables users of its financial statements to understand how the currency</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps21220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">not being exchangeable into the other currency affects, or is expected to affect, the entity\u2019s financial</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps21221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:207.2pt\">performance, financial position and cash flows.</span></div><div class=\"ps21223 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:439.52pt\">Accounting standards, amendments and interpretations that have been endorsed but are<span id=\"ie82c88e9417b4c13b342378eabf92e52\"></span></span><span class=\"f charStyle-562c451e ps94\" style=\"width:3.05pt\"> </span></div><div class=\"ps21224 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps56\" style=\"width:323.73pt\">not yet applicable/have not been adopted in advance by the Group</span></div><div class=\"ps3489 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">The Group is still assessing the impact of these amendments on its financial position or operating results, in so</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:114.43pt\">far as they are applicable.</span></div><div class=\"ps21228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482pt\">Amendments to IFRS 9 and IFRS 7-\u2018Amendments to the Classification and Measurement of Financial</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps21229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.96pt\">Instruments\u2019 (issued on 30 May 2024). The amendments are effective for annual periods starting on or after 1</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21231 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:117.25pt\">January 2026 and include:</span><span class=\"f charStyle-58d8bcbe ps21230\" style=\"width:2.77pt\"> </span></div><div class=\"ps21232 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps2296\" style=\"width:11.66pt\">a) <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.92pt\">a clarification that a financial liability is derecognised on the \u2018settlement date\u2019 and the introduction of an</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps21233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.03pt\">accounting policy choice (if specific conditions are met) to derecognise financial liabilities settled using an</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21234 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:239.95pt\">electronic payment system before the settlement date;</span></div><div class=\"ps21235 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps2296\" style=\"width:11.66pt\">b) <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.05pt\">additional guidance on how the contractual cash flows for financial assets with ESG and similar features</span><span class=\"f charStyle-58d8bcbe ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps21237 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:91.13pt\">should be assessed;</span><span class=\"f charStyle-58d8bcbe ps21236\" style=\"width:2.77pt\"> </span></div><div class=\"ps21238 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps2297\" style=\"width:11.1pt\">c) <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">clarifications on what constitute \u2018non-recourse features\u2019 and what are the characteristics of contractually</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps21239 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:83.32pt\">linked instruments;</span></div><div class=\"ps21240 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps2296\" style=\"width:11.66pt\">d) <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">the introduction of disclosures for financial instruments with contingent features and additional disclosure</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21242 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:81.1pt\">requirements for e</span><span class=\"f charStyle-58d8bcbe ps21241\" style=\"width:344.4pt\">quity instruments classified at fair value through other comprehensive income.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.03pt\">Amendments to IFRS 9 and IFRS 7-\u2018Contracts Referencing Nature-dependent Electricity\u2019 (issued on 18</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.95pt\">December 2024). The following amendments would enable the contracts relating to nature-based electricity</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:313.5pt\">to be better recognised in companies\u2019 financial statements and include:</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps2296\" style=\"width:11.66pt\">a) <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:345.34pt\">a clarification of the application of the \"own-use\" exemption to these contracts;</span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps2296\" style=\"width:11.66pt\">b) <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">an amendment of the hedge accounting requirements to allow contracts for electricity from nature-dependent</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:403.86pt\">renewable energy sources to be used as a hedging instrument if certain conditions are met;</span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps2297\" style=\"width:11.1pt\">c) <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">the introduction of additional disclosure requirements to enable investors to understand the impact of these</span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:305.9pt\">contracts on a company\u2019s financial performance and future cash flow.</span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:375.88pt\">The amendments are effective for annual periods starting on or after 1 January 2026.</span></div><div class=\"ps1481 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482pt\">Annual Improvements to IFRS Accounting Standards-Volume 11 (issued on 18 July 2024). It includes</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">amendments that either clarify the wording of an IFRS standard or correct relatively minor unintended</span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps1483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.95pt\">consequences, oversights or conflicts between requirements in the standards. The amendments contained in</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.95pt\">the Annual Improvements relate to IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7. The amendments are</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:278.11pt\">effective for annual periods starting on or after 1 January 2026.</span></div><div class=\"ps9922 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482pt\">IFRS 18-\u2018Presentation and Disclosure in Financial Statements\u2019 (issued on 9 April 2024). IFRS 18 replaces</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps9923 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482pt\">IAS 1-\u2018Presentation of Financial Statements\u2019, introducing new requirements for presentation within the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps9924 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.04pt\">statement of profit or loss, including specified totals and subtotals. Furthermore, entities are required to</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">classify all income and expenses within the statement of profit or loss into one of five categories: operating,</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps8834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.99pt\">investing, financing, income taxes and discontinued operations, whereof the first three are new. It also</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.06pt\">requires disclosure of newly defined management-defined performance measures ('MPMs'), which are</span><span class=\"f charStyle-58d8bcbe ps1297\" style=\"width:2.77pt\"> </span></div><div class=\"ps8835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">subtotals of income and expenses, and includes new requirements for aggregation and disaggregation of</span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps8836 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:441.77pt\">financial information based on the identified \u2018roles\u2019 of the primary financial statements and the notes.</span><span class=\"f charStyle-58d8bcbe ps21243\" style=\"width:2.77pt\"> </span></div><div class=\"ps2266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.93pt\">In addition, narrow-scope amendments have been made to IAS 7-\u2018Statement of Cash Flows\u2019, which include</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps8837 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.92pt\">changing the starting point for determining cash flows from operations under the indirect method, from \u2018profit</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps2090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.93pt\">or loss\u2019 to \u2018operating profit or loss\u2019 and removing the optionality around classification of cash flows from</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.04pt\">dividends and interest. In addition, there are consequential amendments to several other standards. IFRS 18</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.93pt\">will apply retrospectively. The amendments are effective for annual periods starting on or after 1 January</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.05pt\">2027. Early adoption is permitted; however, the Group does not intend to apply them before the effective</span><span class=\"f charStyle-58d8bcbe ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps9928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">date. The Group is currently assessing the effect of the new accounting standard on its statements of profit</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps9930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:449.96pt\">or loss and cash flow, as well as on the disclosure of performance measures defined by management.</span></div><div class=\"ps21244 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:354.26pt\">Accounting standards, amendments and interpretations not yet endorsed<span id=\"i425217f3501748018c220d5f964769fb\"></span></span></div><div class=\"ps37 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">The Group is still assessing the impact of these amendments on its financial position or operating results, in so</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps38 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:114.43pt\">far as they are applicable.</span></div><div class=\"ps40 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.99pt\">Amendments to IAS 21-\u2018Translation to a hyperinflationary presentation currency\u2019 (issued on 13 November</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps41 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.03pt\">2025). The amendments provide guidance for translating a company\u2019s financial statements from a non-</span></div><div class=\"ps42 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">hyperinflationary functional currency into a hyperinflationary presentation currency. The amendments apply</span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps43 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">retrospectively for annual reporting periods beginning on or after 1 January 2027 and earlier application is</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps44 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.96pt\">permitted. As this scenario does not apply to the Group, the amendments are not expected to have any</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps45 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:32.21pt\">impact.</span></div><div class=\"ps49 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.88pt\">Amendments to Illustrative Examples on IFRS 7, IFRS 18, IAS 1, IAS 8, IAS 36 and IAS 37 - Disclosures</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps50 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">about Uncertainties in the financial statements (issued on 28 November 2025). As the illustrative examples</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps51 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">do not form part of the mandatory sections of IFRS Accounting Standards, they will not be subject to</span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps2248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">endorsement. The Group has been applying these examples where relevant, and their implementation has</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:154.96pt\">not resulted in any material impact.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-425": {
   "value": "<div class=\"ps19793 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b817d055 ps56\">2.\u00a0  Accounting Information and Material General Accounting Policies<span id=\"if3d109f720944e06ac47bf85ac675cc7\"></span></span></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:304.94pt\">The statement of cash flows was prepared using the indirect method.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-424": {
   "value": "<div class=\"ps19793 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b817d055 ps56\">2.\u00a0  Accounting Information and Material General Accounting Policies<span id=\"if3d109f720944e06ac47bf85ac675cc7\"></span></span></div><div class=\"ps4292 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:192.49pt\">The Consolidated Financial statements </span><span class=\"f charStyle-58d8bcbe ps19794\" style=\"width:108.84pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps19795\" style=\"width:194.88pt\"> were prepared in accordance with the</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19796 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">International Financial Reporting Standards issued by the International Accounting Standards Board (\u2018IASB\u2019)</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps19797 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">and ratified by the European Union (\u2018IFRS-EU\u2019), and with Part 9 of Book 2 of the Dutch Civil Code. These</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19798 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">include all the international accounting standards (\u2018IAS\u2019) and interpretations of the International Financial</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps19799 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">Reporting Standards Interpretation Committee (\u2018IFRS IC\u2019), formerly the Standard Interpretations Committee</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps19800 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:30.52pt\">(\u2018SIC\u2019).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:StatementOfIFRSCompliance",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-423": {
   "value": "<div class=\"ps19793 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b817d055 ps56\">2.\u00a0  Accounting Information and Material General Accounting Policies<span id=\"if3d109f720944e06ac47bf85ac675cc7\"></span></span></div><div class=\"ps19822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">The Group has prepared the financial statements on the basis that it will continue to operate as a going concern.</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.59pt\"> </span></div><div class=\"ps19823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">The Directors consider that there are no material uncertainties that may cast significant doubt over this</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">assumption. They have formed a judgement that there is a reasonable expectation that the Group has adequate</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps19825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">resources to continue in operational existence for the foreseeable future, and not less than 12 months from the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps19827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:292.57pt\">date of signing the Company\u2019s Consolidated Financial statements.</span><span class=\"f charStyle-58d8bcbe ps19826\" style=\"width:2.77pt\"> </span></div><div class=\"ps19972 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Use of Estimates<span id=\"i7ac3c33e6be94755aa7631b5d37f9a93\"></span></span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:209.2pt\">Going Concern Including Net Financial Debt</span><span class=\"f charStyle-a745408e ps20049\" style=\"width:23.3pt\"> and </span><span class=\"f charStyle-a745408e ps20050\" style=\"width:65.48pt\">Liquidity Risk</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">In terms of its operating and financial profiles, the Group continues to be very sound and was not exposed to</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:136.44pt\">any going-concern issues in </span><span class=\"f charStyle-58d8bcbe ps20051\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps20052\" style=\"width:337.54pt\">. Furthermore, it does not anticipate any such issues in the 12 months</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:336.08pt\">subsequent to the authorisation of these Consolidated Financial statements.</span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">With regard to the Group\u2019s net debt position and namely with respect to financial assets, these are not subject to</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">particular risks, since the investments considered by the Group are always the subject of a careful and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">scrupulous preliminary analysis and are always coherent with financial needs. With respect to financial liabilities,</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">the Group\u2019s indebtedness ratios measured internally (given the lack of covenants on existing debt) were under</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:413.37pt\">control and consistently at a level considered entirely manageable by the Group. During </span><span class=\"f charStyle-58d8bcbe ps20053\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps20054\" style=\"width:60.62pt\">, the Group\u2019s</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">financial structure was confirmed to have been strengthened by the availability of significant committed and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">uncommitted credit lines. No renegotiation of interest rates or conditions was performed outside the normal</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">course of business. The debt profile is appropriately balanced between variable and fixed rate, thus minimising</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:180.5pt\">the Group\u2019s exposure to market risk. In </span><span class=\"f charStyle-58d8bcbe ps20055\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps20056\" style=\"width:293.42pt\"> with respect to lease and rental agreements, there were no new</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">significant negotiations, including sub-leases, nor significant contract amendments generating financial</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">receivables or liabilities. In terms of fair value measurement hierarchies of financial items, there were no</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:361.64pt\">changes to be reflected other than those disclosed in the related disclosure notes.</span><span class=\"f charStyle-58d8bcbe ps20057\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">A separate analysis was performed with reference to financial liabilities arising from put option and earn-out</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">agreements valued at fair value and where the basis of the estimate is linked to brand performance. The</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">analysis was conducted in conjunction with the considerations described in relation to the impairment test on</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">goodwill, brands and intangible assets with an indefinite life in order to ensure homogeneity and consistency in</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">the valuation, and from the analyses no particular circumstances emerged requiring revisions of these liabilities</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:171.1pt\">outside the normal course of business.</span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">The macroeconomic trend in 2025 did not trigger any significant change in contracts with customers or any</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">change in the revenue recognition criteria previously identified. Significant judgements were used to review the</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">expected credit losses based on the Group business model to manage financial instruments, namely with</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">reference to the markets directly impacted by the Russia-Ukraine conflict. To facilitate liquidity management, the</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">Group continued the reverse factoring program, confirmed with a limited number of trusted suppliers involved,</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">consistent with previous years: the trade payables under reverse factoring agreements continued to be</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">classified as a component of the Group\u2019s operating working capital with no separate disclosure as primary line</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:376.04pt\">items of the Consolidated Financial statements in consideration of the total exposure.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-422": {
   "value": "<div class=\"ps19793 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b817d055 ps56\">2.\u00a0  Accounting Information and Material General Accounting Policies<span id=\"if3d109f720944e06ac47bf85ac675cc7\"></span></span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Transactions with related parties form part of ordinary operations and are carried out under market conditions</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">(i.e. conditions that would apply between two independent parties) or using criteria that allow for the recovery of</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">costs incurred and a return on invested capital. All transactions with related parties were carried out in the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:73.13pt\">Group\u2019s interest.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-421": {
   "value": "<div class=\"ps19793 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b817d055 ps56\">2.\u00a0  Accounting Information and Material General Accounting Policies<span id=\"if3d109f720944e06ac47bf85ac675cc7\"></span></span></div><div class=\"ps19802 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">The accounting standards adopted by the Group are the same as those that were applied for the annual</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps19803 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">financial statements for the year ended 31 December 2024, except for the accounting standards specified in<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps19804 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">note 2 vii-\u2018Change in accounting standards-Summary of the new accounting standards endorsed and adopted</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps19805 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">by the Group from 1 January 2025\u2019. For the year ended 31 December 2025 there were no changes in</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps19807 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:144.99pt\">accounting estimates and errors.</span><span class=\"f charStyle-58d8bcbe ps19806\" style=\"width:2.77pt\"> </span></div><div class=\"ps21204 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Change in Accounting Standards<span id=\"i16de08ddb1ff40669a56ee4e5b63bb0e\"></span></span></div><div class=\"ps21210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-da37ff7c ps1250\" style=\"width:84.03pt\">Summary of the <span id=\"i04217860190f44d5aafbca4e9c5f3177\"></span></span><span class=\"f charStyle-da37ff7c ps21206\" style=\"width:180.6pt\">New Accounting Standards Endorsed<span class=\"f ps21\"> </span></span><span class=\"f charStyle-da37ff7c ps21207\" style=\"width:28.06pt\"> and </span><span class=\"f charStyle-da37ff7c ps21208\" style=\"width:39.04pt\">Adopted</span><span class=\"f charStyle-da37ff7c ps21209\" style=\"width:107.81pt\"> by the Group from 1</span><span class=\"f charStyle-da37ff7c ps370\" style=\"width:2.78pt\"> </span></div><div class=\"ps21211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-da37ff7c ps56\" style=\"width:63.35pt\">January 2025</span></div><div class=\"ps21213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">These amendments applied for the first time in 2025 but did not have a significant impact to be reported on<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21214 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:233.68pt\">Campari Group\u2019s Consolidated Financial statements.<span class=\"f ps21\"> </span></span></div><div class=\"ps21216 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Amendments to IAS 21-\u2018The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability\u2019 (issued</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps21217 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">on 15 August 2023). The amendments clarify how an entity should assess whether a currency is exchangeable<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21218 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">and how it should determine a spot exchange rate when exchangeability is lacking. The amendments also</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps21219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">require disclosure of information that enables users of its financial statements to understand how the currency</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps21220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">not being exchangeable into the other currency affects, or is expected to affect, the entity\u2019s financial</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps21221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:207.2pt\">performance, financial position and cash flows.</span></div><div class=\"ps21223 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:439.52pt\">Accounting standards, amendments and interpretations that have been endorsed but are<span id=\"ie82c88e9417b4c13b342378eabf92e52\"></span></span><span class=\"f charStyle-562c451e ps94\" style=\"width:3.05pt\"> </span></div><div class=\"ps21224 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps56\" style=\"width:323.73pt\">not yet applicable/have not been adopted in advance by the Group</span></div><div class=\"ps3489 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">The Group is still assessing the impact of these amendments on its financial position or operating results, in so</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:114.43pt\">far as they are applicable.</span></div><div class=\"ps21228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482pt\">Amendments to IFRS 9 and IFRS 7-\u2018Amendments to the Classification and Measurement of Financial</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps21229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.96pt\">Instruments\u2019 (issued on 30 May 2024). The amendments are effective for annual periods starting on or after 1</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21231 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:117.25pt\">January 2026 and include:</span><span class=\"f charStyle-58d8bcbe ps21230\" style=\"width:2.77pt\"> </span></div><div class=\"ps21232 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps2296\" style=\"width:11.66pt\">a) <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.92pt\">a clarification that a financial liability is derecognised on the \u2018settlement date\u2019 and the introduction of an</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps21233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.03pt\">accounting policy choice (if specific conditions are met) to derecognise financial liabilities settled using an</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21234 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:239.95pt\">electronic payment system before the settlement date;</span></div><div class=\"ps21235 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps2296\" style=\"width:11.66pt\">b) <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.05pt\">additional guidance on how the contractual cash flows for financial assets with ESG and similar features</span><span class=\"f charStyle-58d8bcbe ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps21237 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:91.13pt\">should be assessed;</span><span class=\"f charStyle-58d8bcbe ps21236\" style=\"width:2.77pt\"> </span></div><div class=\"ps21238 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps2297\" style=\"width:11.1pt\">c) <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">clarifications on what constitute \u2018non-recourse features\u2019 and what are the characteristics of contractually</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps21239 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:83.32pt\">linked instruments;</span></div><div class=\"ps21240 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps2296\" style=\"width:11.66pt\">d) <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">the introduction of disclosures for financial instruments with contingent features and additional disclosure</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21242 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:81.1pt\">requirements for e</span><span class=\"f charStyle-58d8bcbe ps21241\" style=\"width:344.4pt\">quity instruments classified at fair value through other comprehensive income.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.03pt\">Amendments to IFRS 9 and IFRS 7-\u2018Contracts Referencing Nature-dependent Electricity\u2019 (issued on 18</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.95pt\">December 2024). The following amendments would enable the contracts relating to nature-based electricity</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:313.5pt\">to be better recognised in companies\u2019 financial statements and include:</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps2296\" style=\"width:11.66pt\">a) <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:345.34pt\">a clarification of the application of the \"own-use\" exemption to these contracts;</span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps2296\" style=\"width:11.66pt\">b) <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">an amendment of the hedge accounting requirements to allow contracts for electricity from nature-dependent</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:403.86pt\">renewable energy sources to be used as a hedging instrument if certain conditions are met;</span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps2297\" style=\"width:11.1pt\">c) <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">the introduction of additional disclosure requirements to enable investors to understand the impact of these</span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:305.9pt\">contracts on a company\u2019s financial performance and future cash flow.</span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:375.88pt\">The amendments are effective for annual periods starting on or after 1 January 2026.</span></div><div class=\"ps1481 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482pt\">Annual Improvements to IFRS Accounting Standards-Volume 11 (issued on 18 July 2024). It includes</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">amendments that either clarify the wording of an IFRS standard or correct relatively minor unintended</span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps1483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.95pt\">consequences, oversights or conflicts between requirements in the standards. The amendments contained in</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.95pt\">the Annual Improvements relate to IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7. The amendments are</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:278.11pt\">effective for annual periods starting on or after 1 January 2026.</span></div><div class=\"ps9922 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482pt\">IFRS 18-\u2018Presentation and Disclosure in Financial Statements\u2019 (issued on 9 April 2024). IFRS 18 replaces</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps9923 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482pt\">IAS 1-\u2018Presentation of Financial Statements\u2019, introducing new requirements for presentation within the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps9924 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.04pt\">statement of profit or loss, including specified totals and subtotals. Furthermore, entities are required to</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">classify all income and expenses within the statement of profit or loss into one of five categories: operating,</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps8834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.99pt\">investing, financing, income taxes and discontinued operations, whereof the first three are new. It also</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.06pt\">requires disclosure of newly defined management-defined performance measures ('MPMs'), which are</span><span class=\"f charStyle-58d8bcbe ps1297\" style=\"width:2.77pt\"> </span></div><div class=\"ps8835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">subtotals of income and expenses, and includes new requirements for aggregation and disaggregation of</span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps8836 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:441.77pt\">financial information based on the identified \u2018roles\u2019 of the primary financial statements and the notes.</span><span class=\"f charStyle-58d8bcbe ps21243\" style=\"width:2.77pt\"> </span></div><div class=\"ps2266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.93pt\">In addition, narrow-scope amendments have been made to IAS 7-\u2018Statement of Cash Flows\u2019, which include</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps8837 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.92pt\">changing the starting point for determining cash flows from operations under the indirect method, from \u2018profit</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps2090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.93pt\">or loss\u2019 to \u2018operating profit or loss\u2019 and removing the optionality around classification of cash flows from</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.04pt\">dividends and interest. In addition, there are consequential amendments to several other standards. IFRS 18</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.93pt\">will apply retrospectively. The amendments are effective for annual periods starting on or after 1 January</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.05pt\">2027. Early adoption is permitted; however, the Group does not intend to apply them before the effective</span><span class=\"f charStyle-58d8bcbe ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps9928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">date. The Group is currently assessing the effect of the new accounting standard on its statements of profit</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps9930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:449.96pt\">or loss and cash flow, as well as on the disclosure of performance measures defined by management.</span></div><div class=\"ps21244 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:354.26pt\">Accounting standards, amendments and interpretations not yet endorsed<span id=\"i425217f3501748018c220d5f964769fb\"></span></span></div><div class=\"ps37 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">The Group is still assessing the impact of these amendments on its financial position or operating results, in so</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps38 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:114.43pt\">far as they are applicable.</span></div><div class=\"ps40 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.99pt\">Amendments to IAS 21-\u2018Translation to a hyperinflationary presentation currency\u2019 (issued on 13 November</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps41 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.03pt\">2025). The amendments provide guidance for translating a company\u2019s financial statements from a non-</span></div><div class=\"ps42 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">hyperinflationary functional currency into a hyperinflationary presentation currency. The amendments apply</span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps43 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">retrospectively for annual reporting periods beginning on or after 1 January 2027 and earlier application is</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps44 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.96pt\">permitted. As this scenario does not apply to the Group, the amendments are not expected to have any</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps45 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:32.21pt\">impact.</span></div><div class=\"ps49 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.88pt\">Amendments to Illustrative Examples on IFRS 7, IFRS 18, IAS 1, IAS 8, IAS 36 and IAS 37 - Disclosures</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps50 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">about Uncertainties in the financial statements (issued on 28 November 2025). As the illustrative examples</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps51 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">do not form part of the mandatory sections of IFRS Accounting Standards, they will not be subject to</span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps2248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">endorsement. The Group has been applying these examples where relevant, and their implementation has</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:154.96pt\">not resulted in any material impact.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-429": {
   "value": "<div class=\"ps19839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1333\">i.\u00a0  Form and Content<span id=\"i4d55ce4906464faeabdc736ff6633470\"></span></span></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:304.94pt\">The statement of cash flows was prepared using the indirect method.</span></div><div class=\"ps24040 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">viii.\u00a0  Reconciliation with Net Financial Debt and Consolidated Statement of Cash Flow<span id=\"i9052aa8f2f6347428b267af93c4fd6f9\"></span></span></div><div class=\"ps24091 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:445.67pt\">Reconciliation of the changes in financial liabilities used in financing activities with the Consolidated </span><span class=\"f charStyle-58d8bcbe ps24090\" style=\"width:50.54pt\">Statements</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps24092 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:210.5pt\">of Cash Flows is provided in the following table.</span></div><div class=\"ps22544 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:43.5pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:40.5pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:41.25pt\"></td><td style=\"padding:0;width:40.5pt\"></td><td style=\"padding:0;width:41.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss636\"><div><div class=\"ps6839 ss635\"><span class=\"f charStyle-d669f8f1 ps132\">cash flow generated (absorbed) <span class=\"f ps21\"> </span></span></div><div class=\"ps6841 ss635\"><span class=\"f charStyle-d669f8f1 ps132\">from financial liabilities</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20218 ss1844\"><div><div class=\"ps979 ss1843\"><span class=\"f charStyle-183bdf94 ps2715\">bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8654 ss443\"><div><div class=\"ps2776 ss180\"><span class=\"f charStyle-183bdf94 ps17053\">payables for <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss180\"><span class=\"f charStyle-183bdf94 ps18195\">interest</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13065 ss1709\"><div><div class=\"ps979 ss1708\"><span class=\"f charStyle-183bdf94 ps24093\">borrowings<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24094 ss1820\"><div><div class=\"ps979 ss1623\"><span class=\"f charStyle-183bdf94 ps12793\">lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24097 ss1844\"><div><div class=\"ps2776 ss1843\"><span class=\"f charStyle-183bdf94 ps24095\">other financial assets <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1843\"><span class=\"f charStyle-183bdf94 ps24096\">(liabilities)</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24098 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps22881\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24100 ss544\"><div><div class=\"ps485 ss532\"><span class=\"f charStyle-183bdf94 ps24099\">non-current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8658 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps24101\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13071 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-40131897 ps23436\">current</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps992 ss1399\"><div><div class=\"ps485 ss1397\"><span class=\"f charStyle-40131897 ps24102\">non-current</span><span class=\"f charStyle-85922b7e ps24103\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24104 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps22881\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24105 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps13998\">non-current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24106 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-183bdf94 ps23436\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8564 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps13998\">non-current<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24107 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6598 ss544\"><div><div class=\"ps485 ss532\"><span class=\"f charStyle-183bdf94 ps24108\">(1,580.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24109 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(21.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18657 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-183bdf94 ps13330\">(289.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1003 ss1399\"><div><div class=\"ps485 ss1397\"><span class=\"f charStyle-183bdf94 ps24110\">(916.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6607 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6377\">(18.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24111 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps6374\">(58.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24112 ss1050\"><div><div class=\"ps476 ss1049\"><span class=\"f charStyle-183bdf94 ps16253\">19.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24113 ss224\"><div><div class=\"ps476 ss214\"><span class=\"f charStyle-183bdf94 ps16271\">20.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss637\"><div><div class=\"ps476 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Notional liabilities addition<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24114 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6613 ss544\"><div><div class=\"ps485 ss532\"><span class=\"f charStyle-183bdf94 ps20889\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24115 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18663 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-183bdf94 ps20883\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1015 ss1399\"><div><div class=\"ps485 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6621 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24116 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps6374\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24117 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-183bdf94 ps20883\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24118 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps7531\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss637\"><div><div class=\"ps476 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Interest accrued<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24119 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps6627 ss544\"><div><div class=\"ps485 ss532\"><span class=\"f charStyle-183bdf94 ps20889\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24120 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(90.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps18671 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-183bdf94 ps20883\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps1025 ss1399\"><div><div class=\"ps485 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps6633 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24122 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps24121\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24123 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-183bdf94 ps11767\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24124 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps7531\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss637\"><div><div class=\"ps476 ss635\"><span class=\"f charStyle-4b81288d ps132\">New financing</span><span class=\"f charStyle-85922b7e ps24125\"><sup>(2)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24126 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-ba8ac8da ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps6639 ss544\"><div><div class=\"ps485 ss532\"><span class=\"f charStyle-ba8ac8da ps20889\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps4546 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24127 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-ba8ac8da ps16253\">50.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps1035 ss1399\"><div><div class=\"ps485 ss1397\"><span class=\"f charStyle-ba8ac8da ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps6646 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-ba8ac8da ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24128 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-ba8ac8da ps7531\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24129 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-ba8ac8da ps11767\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24130 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-ba8ac8da ps24121\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss637\"><div><div class=\"ps476 ss635\"><span class=\"f charStyle-4b81288d ps132\">Repayment</span><span class=\"f charStyle-85922b7e ps24131\"><sup>(2)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24132 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-ba8ac8da ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24133 ss544\"><div><div class=\"ps485 ss532\"><span class=\"f charStyle-ba8ac8da ps20889\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps15961 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7298\">90.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24135 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-ba8ac8da ps24134\">212.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps1048 ss1399\"><div><div class=\"ps485 ss1397\"><span class=\"f charStyle-ba8ac8da ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24136 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-ba8ac8da ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24137 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-ba8ac8da ps16271\">23.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24139 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-ba8ac8da ps24138\">(8.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24140 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-ba8ac8da ps24121\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#dbdbdb;padding:0\"><div class=\"ps4628 ss637\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-0788a2e8 ps132\"> - of which long-term debt</span></div></div></div></td><td style=\"background-color:#dbdbdb;padding:0\"><div class=\"ps24141 ss187\"><div><div class=\"ps6279 ss179\"><span class=\"f charStyle-d669f8f1 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24142 ss544\"><div><div class=\"ps6279 ss532\"><span class=\"f charStyle-d669f8f1 ps20889\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24143 ss188\"><div><div class=\"ps6279 ss180\"><span class=\"f charStyle-d669f8f1 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps18685 ss1050\"><div><div class=\"ps6279 ss1049\"><span class=\"f charStyle-d669f8f1 ps24134\">166.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps19625 ss1399\"><div><div class=\"ps6279 ss1397\"><span class=\"f charStyle-d669f8f1 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24144 ss187\"><div><div class=\"ps6279 ss179\"><span class=\"f charStyle-d669f8f1 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24145 ss224\"><div><div class=\"ps6279 ss214\"><span class=\"f charStyle-d669f8f1 ps7531\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24146 ss1050\"><div><div class=\"ps6279 ss1049\"><span class=\"f charStyle-d669f8f1 ps20883\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;padding:0\"><div class=\"ps24147 ss224\"><div><div class=\"ps6279 ss214\"><span class=\"f charStyle-d669f8f1 ps7531\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#dbdbdb;padding:0\"><div class=\"ps6894 ss637\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-d669f8f1 ps132\"> - of which other borrowings<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;padding:0\"><div class=\"ps24148 ss187\"><div><div class=\"ps6279 ss179\"><span class=\"f charStyle-d669f8f1 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24149 ss544\"><div><div class=\"ps6279 ss532\"><span class=\"f charStyle-d669f8f1 ps20889\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24150 ss188\"><div><div class=\"ps6279 ss180\"><span class=\"f charStyle-d669f8f1 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24151 ss1050\"><div><div class=\"ps6279 ss1049\"><span class=\"f charStyle-d669f8f1 ps16253\">45.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps19702 ss1399\"><div><div class=\"ps6279 ss1397\"><span class=\"f charStyle-d669f8f1 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24152 ss187\"><div><div class=\"ps6279 ss179\"><span class=\"f charStyle-d669f8f1 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24153 ss224\"><div><div class=\"ps6279 ss214\"><span class=\"f charStyle-d669f8f1 ps7531\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24154 ss1050\"><div><div class=\"ps6279 ss1049\"><span class=\"f charStyle-d669f8f1 ps20883\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;padding:0\"><div class=\"ps24155 ss224\"><div><div class=\"ps6279 ss214\"><span class=\"f charStyle-d669f8f1 ps7531\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5271 ss637\"><div><div class=\"ps476 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24156 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24157 ss544\"><div><div class=\"ps485 ss532\"><span class=\"f charStyle-183bdf94 ps20889\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24158 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24159 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-183bdf94 ps11767\">8.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps19709 ss1399\"><div><div class=\"ps485 ss1397\"><span class=\"f charStyle-183bdf94 ps16502\">37.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24160 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6704\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24162 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps24161\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24163 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-183bdf94 ps24138\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24164 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps24121\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6904 ss637\"><div><div class=\"ps476 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Reclassification<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24165 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24166 ss544\"><div><div class=\"ps485 ss532\"><span class=\"f charStyle-183bdf94 ps20889\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24167 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24168 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-183bdf94 ps13330\">(252.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24169 ss1399\"><div><div class=\"ps485 ss1397\"><span class=\"f charStyle-183bdf94 ps16566\">252.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24170 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6732\">(1.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24171 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps24161\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24173 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-183bdf94 ps24172\">(14.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24174 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps16271\">14.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss637\"><div><div class=\"ps476 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24175 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24176 ss544\"><div><div class=\"ps485 ss532\"><span class=\"f charStyle-183bdf94 ps20952\">(9.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24177 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24178 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-183bdf94 ps24138\">(1.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24180 ss1399\"><div><div class=\"ps485 ss1397\"><span class=\"f charStyle-183bdf94 ps24179\">(1.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24181 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24182 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps24161\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24184 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-183bdf94 ps24183\">(11.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24185 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps6374\">(10.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4652 ss637\"><div><div class=\"ps476 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24186 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-ba8ac8da ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24187 ss544\"><div><div class=\"ps485 ss532\"><span class=\"f charStyle-ba8ac8da ps24108\">(1,590.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24188 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7324\">(21.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24189 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-ba8ac8da ps13330\">(272.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24190 ss1399\"><div><div class=\"ps485 ss1397\"><span class=\"f charStyle-ba8ac8da ps24110\">(627.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24191 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-ba8ac8da ps6377\">(19.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24192 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-ba8ac8da ps6374\">(52.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24193 ss1050\"><div><div class=\"ps485 ss1049\"><span class=\"f charStyle-ba8ac8da ps24172\">(10.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24194 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-ba8ac8da ps16271\">21.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24195 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:87.07pt\">Included related derivatives.</span></div><div class=\"ps24196 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:173.72pt\">Cash flow generated (absorbed) from financial liabilities.</span></div><div class=\"ps24323 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:105.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:44.25pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:33.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:42pt\"></td><td style=\"padding:0;width:48pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1846\"><div><div class=\"ps24198 ss1845\"><span class=\"f charStyle-d669f8f1 ps132\">cash Flow generated <span class=\"f ps21\"> </span></span></div><div class=\"ps7517 ss1845\"><span class=\"f charStyle-d669f8f1 ps132\">(absorbed) from financial </span></div><div class=\"ps24199 ss1845\"><span class=\"f charStyle-d669f8f1 ps132\">liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24201 ss1641\"><div><div class=\"ps2579 ss916\"><span class=\"f charStyle-183bdf94 ps24200\">bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12428 ss454\"><div><div class=\"ps5026 ss44\"><span class=\"f charStyle-183bdf94 ps14984\">payables for <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss44\"><span class=\"f charStyle-183bdf94 ps18411\">interest</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24203 ss1633\"><div><div class=\"ps2579 ss1632\"><span class=\"f charStyle-183bdf94 ps24202\">borrowings<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24204 ss1624\"><div><div class=\"ps2579 ss1623\"><span class=\"f charStyle-183bdf94 ps12793\">lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14436 ss1847\"><div><div class=\"ps5026 ss255\"><span class=\"f charStyle-183bdf94 ps24205\">other financial assets <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss255\"><span class=\"f charStyle-183bdf94 ps20189\">(liabilities)</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7726 ss1848\"><div><div class=\"ps485 ss1845\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24206 ss274\"><div><div class=\"ps485 ss273\"><span class=\"f charStyle-183bdf94 ps8955\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24207 ss201\"><div><div class=\"ps485 ss195\"><span class=\"f charStyle-183bdf94 ps5034\">non-current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21083 ss45\"><div><div class=\"ps485 ss44\"><span class=\"f charStyle-183bdf94 ps4040\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24209 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-40131897 ps19613\">current</span><span class=\"f charStyle-85922b7e ps24208\"><sup>(3)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24211 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-40131897 ps19667\">non-current</span><span class=\"f charStyle-85922b7e ps24210\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24212 ss245\"><div><div class=\"ps485 ss237\"><span class=\"f charStyle-183bdf94 ps20202\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24213 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-183bdf94 ps18342\">non-current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24215 ss272\"><div><div class=\"ps485 ss271\"><span class=\"f charStyle-183bdf94 ps24214\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24216 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-183bdf94 ps5174\">non-current<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2968 ss1848\"><div><div class=\"ps485 ss1845\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24218 ss274\"><div><div class=\"ps485 ss273\"><span class=\"f charStyle-183bdf94 ps24217\">(300.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24219 ss201\"><div><div class=\"ps485 ss195\"><span class=\"f charStyle-183bdf94 ps23717\">(845.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24220 ss45\"><div><div class=\"ps485 ss44\"><span class=\"f charStyle-183bdf94 ps4222\">(14.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24221 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps18281\">(130.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24222 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7593\">(901.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24223 ss245\"><div><div class=\"ps485 ss237\"><span class=\"f charStyle-183bdf94 ps5328\">(16.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24225 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-183bdf94 ps24224\">(60.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24226 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps16506\">20.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24227 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps11680\">10.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5727 ss1848\"><div><div class=\"ps476 ss1845\"><span class=\"f charStyle-183bdf94 ps132\">Notional liabilities addition<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24228 ss274\"><div><div class=\"ps485 ss273\"><span class=\"f charStyle-183bdf94 ps11826\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24229 ss201\"><div><div class=\"ps485 ss195\"><span class=\"f charStyle-183bdf94 ps14718\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21091 ss45\"><div><div class=\"ps485 ss44\"><span class=\"f charStyle-183bdf94 ps7586\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8674 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24230 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24231 ss245\"><div><div class=\"ps485 ss237\"><span class=\"f charStyle-183bdf94 ps8550\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24232 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-183bdf94 ps24224\">(19.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24233 ss272\"><div><div class=\"ps485 ss271\"><span class=\"f charStyle-183bdf94 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24235 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5196 ss1848\"><div><div class=\"ps476 ss1845\"><span class=\"f charStyle-183bdf94 ps132\">Interest accrued<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24236 ss274\"><div><div class=\"ps485 ss273\"><span class=\"f charStyle-183bdf94 ps11826\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24237 ss201\"><div><div class=\"ps485 ss195\"><span class=\"f charStyle-183bdf94 ps14718\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps21098 ss45\"><div><div class=\"ps485 ss44\"><span class=\"f charStyle-183bdf94 ps4222\">(90.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24238 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24239 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24240 ss245\"><div><div class=\"ps485 ss237\"><span class=\"f charStyle-183bdf94 ps8550\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24242 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(3.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24243 ss272\"><div><div class=\"ps485 ss271\"><span class=\"f charStyle-183bdf94 ps19650\">(6.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24245 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-183bdf94 ps24244\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps924 ss1848\"><div><div class=\"ps476 ss1845\"><span class=\"f charStyle-4b81288d ps132\">New financing</span><span class=\"f charStyle-85922b7e ps24125\"><sup>(2)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24246 ss274\"><div><div class=\"ps485 ss273\"><span class=\"f charStyle-ba8ac8da ps11826\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24247 ss201\"><div><div class=\"ps485 ss195\"><span class=\"f charStyle-ba8ac8da ps23717\">(770.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps21104 ss45\"><div><div class=\"ps485 ss44\"><span class=\"f charStyle-ba8ac8da ps7586\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24248 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-ba8ac8da ps18281\">(393.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24249 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-ba8ac8da ps7593\">(125.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24250 ss245\"><div><div class=\"ps485 ss237\"><span class=\"f charStyle-ba8ac8da ps8550\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24251 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-ba8ac8da ps11724\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24252 ss272\"><div><div class=\"ps485 ss271\"><span class=\"f charStyle-ba8ac8da ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24253 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-ba8ac8da ps24244\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps928 ss1848\"><div><div class=\"ps476 ss1845\"><span class=\"f charStyle-4b81288d ps132\">Repayment</span><span class=\"f charStyle-85922b7e ps24131\"><sup>(2)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24254 ss274\"><div><div class=\"ps485 ss273\"><span class=\"f charStyle-ba8ac8da ps9028\">300.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24256 ss201\"><div><div class=\"ps485 ss195\"><span class=\"f charStyle-ba8ac8da ps24255\">8.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps21110 ss45\"><div><div class=\"ps485 ss44\"><span class=\"f charStyle-ba8ac8da ps4402\">90.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24257 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-ba8ac8da ps6612\">371.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24258 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-ba8ac8da ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24259 ss245\"><div><div class=\"ps485 ss237\"><span class=\"f charStyle-ba8ac8da ps8550\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24260 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-ba8ac8da ps4719\">22.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24261 ss272\"><div><div class=\"ps485 ss271\"><span class=\"f charStyle-ba8ac8da ps12892\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24262 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-ba8ac8da ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#dbdbdb;padding:0\"><div class=\"ps6443 ss1848\"><div><div class=\"ps2776 ss1845\"><span class=\"f charStyle-0788a2e8 ps132\"> - of which long-term debt</span><span class=\"f charStyle-9d0ae393 ps24263\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#dbdbdb;padding:0\"><div class=\"ps24264 ss274\"><div><div class=\"ps6279 ss273\"><span class=\"f charStyle-d669f8f1 ps11826\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24265 ss201\"><div><div class=\"ps6279 ss195\"><span class=\"f charStyle-d669f8f1 ps14718\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps21116 ss45\"><div><div class=\"ps6279 ss44\"><span class=\"f charStyle-d669f8f1 ps7586\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24266 ss397\"><div><div class=\"ps6279 ss392\"><span class=\"f charStyle-d669f8f1 ps6620\">46.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24267 ss456\"><div><div class=\"ps6279 ss452\"><span class=\"f charStyle-d669f8f1 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24268 ss245\"><div><div class=\"ps6279 ss237\"><span class=\"f charStyle-d669f8f1 ps8550\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24269 ss270\"><div><div class=\"ps6279 ss269\"><span class=\"f charStyle-d669f8f1 ps11724\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24270 ss272\"><div><div class=\"ps6279 ss271\"><span class=\"f charStyle-d669f8f1 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;padding:0\"><div class=\"ps24271 ss976\"><div><div class=\"ps6279 ss655\"><span class=\"f charStyle-d669f8f1 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#dbdbdb;padding:0\"><div class=\"ps7572 ss1848\"><div><div class=\"ps2776 ss1845\"><span class=\"f charStyle-0788a2e8 ps132\"> - of which other borrowings</span></div></div></div></td><td style=\"background-color:#dbdbdb;padding:0\"><div class=\"ps24272 ss274\"><div><div class=\"ps6279 ss273\"><span class=\"f charStyle-d669f8f1 ps11826\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24273 ss201\"><div><div class=\"ps6279 ss195\"><span class=\"f charStyle-d669f8f1 ps14718\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps21122 ss45\"><div><div class=\"ps6279 ss44\"><span class=\"f charStyle-d669f8f1 ps7586\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24274 ss397\"><div><div class=\"ps6279 ss392\"><span class=\"f charStyle-d669f8f1 ps6612\">324.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps9722 ss456\"><div><div class=\"ps6279 ss452\"><span class=\"f charStyle-d669f8f1 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24275 ss245\"><div><div class=\"ps6279 ss237\"><span class=\"f charStyle-d669f8f1 ps8550\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24276 ss270\"><div><div class=\"ps6279 ss269\"><span class=\"f charStyle-d669f8f1 ps11724\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24277 ss272\"><div><div class=\"ps6279 ss271\"><span class=\"f charStyle-d669f8f1 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#dbdbdb;padding:0\"><div class=\"ps24278 ss976\"><div><div class=\"ps6279 ss655\"><span class=\"f charStyle-d669f8f1 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps7580 ss1848\"><div><div class=\"ps476 ss1845\"><span class=\"f charStyle-183bdf94 ps132\">Perimeter effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24279 ss274\"><div><div class=\"ps485 ss273\"><span class=\"f charStyle-183bdf94 ps11826\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24280 ss201\"><div><div class=\"ps485 ss195\"><span class=\"f charStyle-183bdf94 ps14718\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps21128 ss45\"><div><div class=\"ps485 ss44\"><span class=\"f charStyle-183bdf94 ps7586\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24282 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps24281\">(11.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24283 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24284 ss245\"><div><div class=\"ps485 ss237\"><span class=\"f charStyle-183bdf94 ps5410\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24285 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24286 ss272\"><div><div class=\"ps485 ss271\"><span class=\"f charStyle-183bdf94 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24287 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps7589 ss1848\"><div><div class=\"ps476 ss1845\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24288 ss274\"><div><div class=\"ps485 ss273\"><span class=\"f charStyle-183bdf94 ps11826\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24289 ss201\"><div><div class=\"ps485 ss195\"><span class=\"f charStyle-183bdf94 ps14718\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps21135 ss45\"><div><div class=\"ps485 ss44\"><span class=\"f charStyle-183bdf94 ps7586\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps8729 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps6657\">6.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24290 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7554\">(20.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24291 ss245\"><div><div class=\"ps485 ss237\"><span class=\"f charStyle-183bdf94 ps8550\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24292 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24293 ss272\"><div><div class=\"ps485 ss271\"><span class=\"f charStyle-183bdf94 ps12892\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24294 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps7597 ss1848\"><div><div class=\"ps476 ss1845\"><span class=\"f charStyle-183bdf94 ps132\">Reclassification<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24295 ss274\"><div><div class=\"ps485 ss273\"><span class=\"f charStyle-183bdf94 ps11826\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24296 ss201\"><div><div class=\"ps485 ss195\"><span class=\"f charStyle-183bdf94 ps14718\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24297 ss45\"><div><div class=\"ps485 ss44\"><span class=\"f charStyle-183bdf94 ps7586\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24298 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps18281\">(130.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24299 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">130.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24300 ss245\"><div><div class=\"ps485 ss237\"><span class=\"f charStyle-183bdf94 ps5410\">(2.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24302 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">2.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24303 ss272\"><div><div class=\"ps485 ss271\"><span class=\"f charStyle-183bdf94 ps12892\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24304 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-183bdf94 ps24244\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18275 ss1848\"><div><div class=\"ps476 ss1845\"><span class=\"f charStyle-183bdf94 ps132\">Other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24305 ss274\"><div><div class=\"ps485 ss273\"><span class=\"f charStyle-183bdf94 ps11826\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24306 ss201\"><div><div class=\"ps485 ss195\"><span class=\"f charStyle-183bdf94 ps4145\">27.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps21142 ss45\"><div><div class=\"ps485 ss44\"><span class=\"f charStyle-183bdf94 ps4352\">(6.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24307 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps6738\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24309 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24310 ss245\"><div><div class=\"ps485 ss237\"><span class=\"f charStyle-183bdf94 ps5611\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24311 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24312 ss272\"><div><div class=\"ps485 ss271\"><span class=\"f charStyle-183bdf94 ps12892\">4.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24313 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-183bdf94 ps11680\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20623 ss1848\"><div><div class=\"ps476 ss1845\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24314 ss274\"><div><div class=\"ps485 ss273\"><span class=\"f charStyle-ba8ac8da ps11826\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24315 ss201\"><div><div class=\"ps485 ss195\"><span class=\"f charStyle-ba8ac8da ps16473\">(1,580.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24316 ss45\"><div><div class=\"ps485 ss44\"><span class=\"f charStyle-ba8ac8da ps4222\">(21.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24317 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-ba8ac8da ps18281\">(289.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24318 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-ba8ac8da ps7593\">(916.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24319 ss245\"><div><div class=\"ps485 ss237\"><span class=\"f charStyle-ba8ac8da ps5328\">(18.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24320 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-ba8ac8da ps24224\">(58.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24321 ss272\"><div><div class=\"ps485 ss271\"><span class=\"f charStyle-ba8ac8da ps16506\">19.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24322 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-ba8ac8da ps11680\">20.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11735 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:87.07pt\">Included related derivatives.</span></div><div class=\"ps11736 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:173.72pt\">Cash flow generated (absorbed) from financial liabilities.</span></div><div class=\"ps11737 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(3)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:459.81pt\">Net change in short-term financial payables and bank loans is equal to \u20ac69.2 million (proceeds of \u20ac393.9 million net of repayments of \u20ac324.7 million).</span></div><div class=\"ps24324 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(4)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:283.72pt\">The repayment of non-current borrowings related to the long-term debt item is \u20ac46.6 million.</span></div><div class=\"ps24325 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ix.\u00a0  Explanatory Notes to the Consolidated Statement of Cash Flow<span id=\"i5bf1848750fb442e98331756055fa9c9\"></span></span></div><div class=\"ps11394 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">This section aims to provide additional explanatory information on items indicated in the Consolidated Statement</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps11395 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:66.08pt\">of Cash Flows:</span></div><div class=\"ps11396 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.02pt\">change in provisions: the cash absorption of \u20ac53.7 million was primarily attributable to the execution of the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps11397 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.02pt\">restructuring plan initiated in late 2024, which was designed to support cost containment objectives. The</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps11398 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:308.29pt\">outflows included payments for employee termination of \u20ac54.4 million;</span></div><div class=\"ps11399 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:325.45pt\">purchase of tangible and intangible fixed assets net of disposal totalling </span><span class=\"f charStyle-58d8bcbe ps24326\" style=\"width:30.57pt\">\u20ac269.6</span><span class=\"f charStyle-58d8bcbe ps24327\" style=\"width:125.95pt\"> million primarily attributable</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps11400 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">to initiatives focused on continuously enhancing the supply chain, via efficiency improvements, sustainability-</span></div><div class=\"ps11401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:259.98pt\">related initiatives and business infrastructure development;</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:196.96pt\">proceeds from non-core assets disposal for</span><span class=\"f charStyle-58d8bcbe ps24328\" style=\"width:111.94pt\"> \u20ac101.3 million of which </span><span class=\"f charStyle-58d8bcbe ps24329\" style=\"width:65.5pt\">\u20ac100.9 million,</span><span class=\"f charStyle-58d8bcbe ps24330\" style=\"width:107.57pt\"> related to Cinzano and</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.92pt\">Frattina business, as well as a bottling facility in Australia (\u20ac 101.1 million), including the cash contributed to</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:174.99pt\">the businesses disposed (\u20ac 0.3 million);</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.93pt\">interest received amounted to \u20ac15.9 million. The variation compared to the previous year was primarily</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:45.33pt\">related to </span><span class=\"f charStyle-58d8bcbe ps13766\" style=\"width:436.71pt\">the higher interest received in 2024, driven by the significant, positive cash position held ahead of</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:125.55pt\">the Courvoisier deal closing.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-432": {
   "value": "<div class=\"ps19849 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Currency Conversion Criteria and Exchange Rates Applied to the Financial <span id=\"i36596adc6e0b46ce9221254af55568f0\"></span></span></div><div class=\"ps19850 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps56\">Statements</span></div><div class=\"ps19851 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:103.23pt\">Currency Conversion<span id=\"i8731a6b83d684a959db9f8452a39c4e0\"></span></span></div><div class=\"ps19852 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Items included in the financial statements of the Group\u2019s subsidiaries and joint-ventures are measured using the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps19853 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">currency of the primary economic environment in which each entity operates (its functional currency) and are</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps19854 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:265.51pt\">converted to the Group presentation currency (\u20ac) as follows:</span></div><div class=\"ps17605 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">statement of profit or loss items are converted at the average exchange rate for the period, while statement</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps19855 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">of financial position items are converted at period-end exchange rates; exchange rate differences resulting<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps19856 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.88pt\">from the application of differing criteria for conversion to the \u20ac of statement of profit or loss and statement of</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps17643 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">financial position items are recorded under the currency translation reserve under shareholders\u2019 equity until</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps19857 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:211.62pt\">the investment in question is sold or terminated;</span></div><div class=\"ps14378 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">any conversion differences between the value of initial shareholders\u2019 equity, as converted at end-of-period</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps19858 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">exchange rates, and the value of shareholders\u2019 equity for the previous year converted at current exchange</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps19860 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:276.65pt\">rates are also recorded under the currency translation reserve.</span><span class=\"f charStyle-58d8bcbe ps19859\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps19861\" style=\"width:398.3pt\">The key exchange rates used for conversion transactions are shown in the following table.</span></div><div class=\"ps8193 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:159.75pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:84pt\"></td><td style=\"padding:0;width:84pt\"></td><td style=\"padding:0;width:84pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18178 ss998\"><div><div class=\"ps2776 ss288\"><span class=\"f charStyle-183bdf94 ps19862\">for the year ended 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss288\"><span class=\"f charStyle-183bdf94 ps19863\">December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19865 ss386\"><div><div class=\"ps979 ss385\"><span class=\"f charStyle-183bdf94 ps19864\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12794 ss386\"><div><div class=\"ps2776 ss385\"><span class=\"f charStyle-183bdf94 ps19866\">for the year ended 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss385\"><span class=\"f charStyle-183bdf94 ps7554\">December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13608 ss386\"><div><div class=\"ps979 ss385\"><span class=\"f charStyle-183bdf94 ps19864\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19867 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps7559\">average rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19869 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps19868\">end-of-period rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12800 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps19870\">average rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19871 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps19868\">end-of-period rate<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18200 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">1.129<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19873 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.175<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12805 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.082<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19874 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.039<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Canadian Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps18210 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">1.578<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19875 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.609<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12808 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.482<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19876 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.495<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Jamaican Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps18217 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19877\">179.717<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19879 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19878\">186.719<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12811 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19878\">169.267<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19880 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19878\">161.513<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-40131897 ps132\">Argentine Peso</span><span class=\"f charStyle-85922b7e ps5098\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19882 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19881\">1,707.561<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19884 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19883\">1,707.561<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps12814 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19883\">1,070.806<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19885 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19883\">1,070.806<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Australian Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps18229 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">1.751<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19886 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.758<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12817 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.640<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19887 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.677<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Brazilian Real<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps18238 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">6.306<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19888 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">6.436<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19889 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">5.827<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19890 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">6.425<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Swiss Franc<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19891 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">0.937<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19892 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">0.931<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19893 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">0.953<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19894 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">0.941<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5271 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Yuan Renminbi<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19896 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19895\">8.115<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14550 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">8.226<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14552 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">7.786<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14554 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">7.583<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6904 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Great Britain Pounds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19897 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">0.857<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14560 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">0.873<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14562 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">0.847<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14564 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">0.829<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4642 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Japanese Yen<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19898 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19877\">168.946<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14571 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19878\">184.090<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14573 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19878\">163.817<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14575 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19878\">163.060<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4652 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">South Korea Won<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19899 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19881\">1,605.288<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14581 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19883\">1,696.940<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14583 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19883\">1,475.256<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14585 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19883\">1,532.150<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4660 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Mexican Peso<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19901 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19900\">21.673<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14592 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19902\">21.118<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14594 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">19.825<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14596 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">21.550<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11256 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">New Zealand Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19904 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">1.942<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14602 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">2.038<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14604 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.788<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14606 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.853<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps10236 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Peruvian Sol<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19905 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">4.025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14612 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">3.952<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14614 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">4.061<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14616 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">3.905<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14618 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-40131897 ps132\">Russian Ruble</span><span class=\"f charStyle-85922b7e ps5109\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19906 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19900\">94.286<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14623 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">92.496<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14625 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19878\">100.374<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14627 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19907\">116.562<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4674 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Singapore Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19908 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">1.475<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14633 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps978\">1.511<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14635 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.446<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14637 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">1.416<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14639 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">Ukraine Hryvnia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19909 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19900\">47.083<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14644 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">49.795<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14646 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">43.469<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14648 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">43.686<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14238 ss983\"><div><div class=\"ps476 ss982\"><span class=\"f charStyle-183bdf94 ps132\">South Africa Rand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19910 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19900\">20.176<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19911 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">19.444<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19912 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">19.832<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19913 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps19903\">19.619<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps19914 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.06pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps15261\" style=\"width:488.92pt\">The average exchange rate of the Argentine Peso was assumed to be equal to the spot exchange rate at the reporting date as required by the hyperinflation</span><span class=\"f charStyle-40131897 ps10312\" style=\"width:1.94pt\"> </span></div><div class=\"ps19917 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:56.77pt\">accounting standa</span><span class=\"f charStyle-0bdf54e2 ps19915\" style=\"width:115.06pt\"><span style=\"background-color:inherit\">rd. For reference only the average ex</span><span class=\"f ps21\"> </span></span><span class=\"f charStyle-40131897 ps19916\" style=\"width:126.75pt\">change rate would have been 1,409.130.</span></div><div class=\"ps19918 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><span class=\"f ps21\"> </span><sup>(2)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.45pt\"> On 2 March 2022, the European Central Bank (\u2018ECB\u2019) decided to suspend the publication of a \u20ac reference rate for the Russian Ruble until further notice. The</span><span class=\"f charStyle-40131897 ps10329\" style=\"width:1.94pt\"> </span></div><div class=\"ps19919 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:475.01pt\">Group has therefore decided to refer to an alternative reliable source for exchange rates based on executable and indicative quotes from multiple dealers.</span></div><div class=\"ps19921 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:308.02pt\">Transactions in foreign currencies (not hedged with derivatives)<span id=\"idce4905b8ef641fcacc1c7792eff65be\"></span></span></div><div class=\"ps19922 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Revenues and costs related to foreign currency transactions are reported at the exchange rate applied on the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps19923 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:192.74pt\">date on which the transaction is carried out.</span></div><div class=\"ps19924 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Monetary assets and liabilities in foreign currencies are initially converted into \u20ac at the exchange rate in effect on</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps19925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">the transaction date and subsequently converted into \u20ac at the exchange rate applied on the reporting date, with</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps19926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:303.07pt\">the difference in value being posted to the statement of profit or loss.</span></div><div class=\"ps19927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Non-monetary assets and liabilities arising from the payment/collection of a foreign currency advance are</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">initially recognised at the exchange rate in effect on the transaction date and are not subsequently modified to</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps19929 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:350.89pt\">take account of any change in the exchange rate in effect on the reporting date.</span></div><div class=\"ps19930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:67.18pt\">Hyperinflation<span id=\"i6167c8e6b62342019bfd18281198cfb7\"></span></span></div><div class=\"ps11499 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">If a subsidiary operates in a hyperinflationary economy, the related economic and financial results are adjusted</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">in accordance with the method established by IFRS, before being translated into the functional currency of the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17279 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Group (\u20ac). The economic and financial data are restated in local currency, taking into account the current</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps17280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">purchasing power of the currency on the date of the financial statements. This process requires a number of</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps19932 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:315.52pt\">complex procedural steps, which are maintained consistently over time.</span></div><div class=\"ps1987 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:277.18pt\">The restatement procedures used by the Group are as follows:</span></div><div class=\"ps17426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:148.88pt\">selection of a general price index;</span></div><div class=\"ps19933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:221.1pt\">segregation of monetary and non-monetary items;</span></div><div class=\"ps19934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:137.19pt\">restatement of non-cash items;</span></div><div class=\"ps19935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:198.24pt\">restatement of the statement of profit or loss;</span></div><div class=\"ps19936 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:162.73pt\">calculation of monetary profit or loss;</span></div><div class=\"ps19937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:306.1pt\">restatement of adjusted balance-sheet and income-statement values.<span class=\"f ps21\"> </span></span></div><div class=\"ps19938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">The restated statement of profit or loss is converted into \u20ac by applying the spot exchange rate at the end of the</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps19939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:259.99pt\">period instead of the average exchange rate for the period.</span></div><div class=\"ps19940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">No restatement of the values presented in the comparative period prior to the official declaration of the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps19941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:440.18pt\">subsidiary\u2019s adoption of hyperinflationary accounting is required in the Group\u2019s consolidated figures.</span></div><div class=\"ps19942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">The effect of restating non-cash items is recognised in the statement of profit or loss under net financial income</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17298 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:52.23pt\">(expenses).</span></div><div class=\"ps19945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:213.64pt\">The indexes used to remeasure the values </span><span class=\"f charStyle-58d8bcbe ps19943\" style=\"width:105.54pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps19944\" style=\"width:176.99pt\">, in accordance with hyperinflationary</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps19946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">economies IFRS rules, are shown in the following table. Specifically, the national Consumer Price Index</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps19949 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:157.73pt\">(\u2018nationwide CPI\u2019) of Argentina was </span><span class=\"f charStyle-58d8bcbe ps19947\" style=\"width:21.68pt\">used</span><span class=\"f charStyle-58d8bcbe ps19948\" style=\"width:2.77pt\">.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:243.75pt\"></td><td style=\"padding:0;width:126pt\"></td><td style=\"padding:0;width:126pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6552 ss351\"><div><div class=\"ps476 ss350\"><span class=\"f charStyle-183bdf94 ps6305\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19517 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19950\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19951 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19950\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19953 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps19952\">average rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19954 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps19952\">average rate<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">Consumer Price Index<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19956 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19955\">10,048.027<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19958 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19957\">7,708.683<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19395 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19959\">2025 conversion factor<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19602 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19959\">2024 conversion factor<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">January<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19397 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.278<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19610 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.809<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">February<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19399 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.248<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19619 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.597<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">March<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19401 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.203<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19960 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.439<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">April<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19403 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.170<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19961 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.322<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">May<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19405 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.153<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19962 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.269<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">June<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19407 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.135<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19963 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.214<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">July<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19409 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps11181\">1.113<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19964 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.167<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">August<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19412 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.093<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19965 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.120<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">September<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19415 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.071<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19966 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.082<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">October<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19967 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.046<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19968 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.054<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">November<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19969 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.021<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19970 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.029<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11650 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">December<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19420 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19971 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.000<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-431": {
   "value": "<div class=\"ps19849 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Currency Conversion Criteria and Exchange Rates Applied to the Financial <span id=\"i36596adc6e0b46ce9221254af55568f0\"></span></span></div><div class=\"ps19850 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps56\">Statements</span></div><div class=\"ps19851 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:103.23pt\">Currency Conversion<span id=\"i8731a6b83d684a959db9f8452a39c4e0\"></span></span></div><div class=\"ps19852 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Items included in the financial statements of the Group\u2019s subsidiaries and joint-ventures are measured using the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps19853 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">currency of the primary economic environment in which each entity operates (its functional currency) and are</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps19854 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:265.51pt\">converted to the Group presentation currency (\u20ac) as follows:</span></div><div class=\"ps17605 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">statement of profit or loss items are converted at the average exchange rate for the period, while statement</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps19855 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">of financial position items are converted at period-end exchange rates; exchange rate differences resulting<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps19856 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.88pt\">from the application of differing criteria for conversion to the \u20ac of statement of profit or loss and statement of</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps17643 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">financial position items are recorded under the currency translation reserve under shareholders\u2019 equity until</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps19857 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:211.62pt\">the investment in question is sold or terminated;</span></div><div class=\"ps14378 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">any conversion differences between the value of initial shareholders\u2019 equity, as converted at end-of-period</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps19858 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">exchange rates, and the value of shareholders\u2019 equity for the previous year converted at current exchange</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:276.65pt\">rates are also recorded under the currency translation reserve.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-430": {
   "value": "<div class=\"ps19849 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Currency Conversion Criteria and Exchange Rates Applied to the Financial <span id=\"i36596adc6e0b46ce9221254af55568f0\"></span></span></div><div class=\"ps19850 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps56\">Statements</span></div><div class=\"ps19930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:67.18pt\">Hyperinflation<span id=\"i6167c8e6b62342019bfd18281198cfb7\"></span></span></div><div class=\"ps11499 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">If a subsidiary operates in a hyperinflationary economy, the related economic and financial results are adjusted</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">in accordance with the method established by IFRS, before being translated into the functional currency of the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17279 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Group (\u20ac). The economic and financial data are restated in local currency, taking into account the current</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps17280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">purchasing power of the currency on the date of the financial statements. This process requires a number of</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps19932 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:315.52pt\">complex procedural steps, which are maintained consistently over time.</span></div><div class=\"ps1987 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:277.18pt\">The restatement procedures used by the Group are as follows:</span></div><div class=\"ps17426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:148.88pt\">selection of a general price index;</span></div><div class=\"ps19933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:221.1pt\">segregation of monetary and non-monetary items;</span></div><div class=\"ps19934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:137.19pt\">restatement of non-cash items;</span></div><div class=\"ps19935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:198.24pt\">restatement of the statement of profit or loss;</span></div><div class=\"ps19936 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:162.73pt\">calculation of monetary profit or loss;</span></div><div class=\"ps19937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:306.1pt\">restatement of adjusted balance-sheet and income-statement values.<span class=\"f ps21\"> </span></span></div><div class=\"ps19938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">The restated statement of profit or loss is converted into \u20ac by applying the spot exchange rate at the end of the</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps19939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:259.99pt\">period instead of the average exchange rate for the period.</span></div><div class=\"ps19940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">No restatement of the values presented in the comparative period prior to the official declaration of the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps19941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:440.18pt\">subsidiary\u2019s adoption of hyperinflationary accounting is required in the Group\u2019s consolidated figures.</span></div><div class=\"ps19942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">The effect of restating non-cash items is recognised in the statement of profit or loss under net financial income</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17298 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:52.23pt\">(expenses).</span></div><div class=\"ps19945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:213.64pt\">The indexes used to remeasure the values </span><span class=\"f charStyle-58d8bcbe ps19943\" style=\"width:105.54pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps19944\" style=\"width:176.99pt\">, in accordance with hyperinflationary</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps19946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">economies IFRS rules, are shown in the following table. Specifically, the national Consumer Price Index</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps19949 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:157.73pt\">(\u2018nationwide CPI\u2019) of Argentina was </span><span class=\"f charStyle-58d8bcbe ps19947\" style=\"width:21.68pt\">used</span><span class=\"f charStyle-58d8bcbe ps19948\" style=\"width:2.77pt\">.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:243.75pt\"></td><td style=\"padding:0;width:126pt\"></td><td style=\"padding:0;width:126pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6552 ss351\"><div><div class=\"ps476 ss350\"><span class=\"f charStyle-183bdf94 ps6305\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19517 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19950\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19951 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19950\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19953 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps19952\">average rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19954 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps19952\">average rate<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">Consumer Price Index<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19956 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19955\">10,048.027<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19958 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19957\">7,708.683<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19395 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19959\">2025 conversion factor<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19602 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps19959\">2024 conversion factor<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">January<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19397 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.278<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19610 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.809<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">February<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19399 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.248<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19619 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.597<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">March<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19401 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.203<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19960 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.439<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">April<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19403 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.170<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19961 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.322<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">May<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19405 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.153<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19962 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.269<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">June<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19407 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.135<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19963 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.214<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">July<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19409 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps11181\">1.113<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19964 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.167<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">August<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19412 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.093<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19965 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.120<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">September<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19415 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.071<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19966 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.082<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">October<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19967 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.046<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19968 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.054<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">November<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19969 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.021<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19970 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.029<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11650 ss388\"><div><div class=\"ps476 ss383\"><span class=\"f charStyle-183bdf94 ps132\">December<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19420 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19971 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps1682\">1.000<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfHyperinflationaryReportingExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-433": {
   "value": "<div class=\"ps19972 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Use of Estimates<span id=\"i7ac3c33e6be94755aa7631b5d37f9a93\"></span></span></div><div class=\"ps19976 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:237.98pt\">Preparation of the Consolidated Financial statements </span><span class=\"f charStyle-58d8bcbe ps19974\" style=\"width:96.24pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps19975\" style=\"width:161.91pt\"> and the related notes in accordance</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps19977 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">with IFRS requires management to make estimates and assumptions that have an impact on the Group\u2019s assets</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps19978 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">and liabilities and items in the profit or loss during the year. These estimates and assumptions, which are based</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps19979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">on the best valuations available at the time of their preparation and are reviewed regularly, may differ from the</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps19980 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">actual circumstances and may be revised accordingly at the time the circumstances change or when new</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps19981 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:391.98pt\">information becomes available. Future outcomes can consequently differ from estimates.</span></div><div class=\"ps19982 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">Details of critical estimates and judgements that could have a material impact on the financial statements are</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps19983 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:167.17pt\">set out in the related notes as follows:<span class=\"f ps21\"> </span></span></div><div class=\"ps19984 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">business combination and disposal: management judgement to determine all the factors relevant to the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps19985 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.05pt\">relationship with the investee to ascertain whether control has been established and whether the investee</span><span class=\"f charStyle-58d8bcbe ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps19986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.06pt\">should be consolidated as a subsidiary in the context of a business combination; management judgement to</span><span class=\"f charStyle-58d8bcbe ps1297\" style=\"width:2.77pt\"> </span></div><div class=\"ps19988 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:68.05pt\">determine the r</span><span class=\"f charStyle-58d8bcbe ps19987\" style=\"width:109.84pt\">elative fair values of the </span><span class=\"f charStyle-58d8bcbe ps7252\" style=\"width:304.04pt\">net assets to be derecognised in the context of a business disposal.</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps19989 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">Management judgement to define fair acquisition values that are attributed to the assets and liabilities</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps19992 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:204.78pt\">acquired and disposed. Please refer to note </span><span class=\"f charStyle-58d8bcbe ps19990\" style=\"width:5.56pt\">4</span><span class=\"f charStyle-58d8bcbe ps19991\" style=\"width:271.71pt\"> i-\u2018Acquisition and sale of businesses and purchase of non-</span></div><div class=\"ps19993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.96pt\">controlling interests\u2019, 4 viii-'Disposal Group Classified as Held for Sale', 6 iv-\u2018Other non-current financial</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps19995 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:353.59pt\">assets\u2019, 6 v-\u2018Non-current financial debt\u2019, 6 vi-\u2018Current financial debt\u2019 and </span><span class=\"f charStyle-58d8bcbe ps19994\" style=\"width:128.38pt\">3 vi- 'Selling, General and</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.22pt\"> </span></div><div class=\"ps19997 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:386.68pt\">Administrative Expenses and Other Income and Expenses from business disposal'.</span><span class=\"f charStyle-58d8bcbe ps19996\" style=\"width:95.3pt\"> of the Consolidated<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps19999 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:94.42pt\">Financial statements </span><span class=\"f charStyle-58d8bcbe ps2299\" style=\"width:96.12pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps19998\" style=\"width:2.77pt\">;</span></div><div class=\"ps20000 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.03pt\">disclosures for contingent assets and liabilities: management judgement in assessing the likelihood of</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps20001 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.05pt\">whether a liability will arise and an estimate to quantify the possible range of any settlement and judgement</span><span class=\"f charStyle-58d8bcbe ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps20002 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.02pt\">in assessing the likelihood of the assets collection. Please refer to note 8 i- \u2018Provisions for risks, charges and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps20005 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:325.69pt\">contingent assets and liabilities\u2019 of the Consolidated Financial statements </span><span class=\"f charStyle-58d8bcbe ps20003\" style=\"width:96.12pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps20004\" style=\"width:2.77pt\">;</span></div><div class=\"ps20006 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">restructuring provisions, provisions for risks and charges: management judgement in assessing the likelihood</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps20007 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.06pt\">of whether a liability will arise and an estimate to quantify the possible range of any settlement. Please refer</span><span class=\"f charStyle-58d8bcbe ps1297\" style=\"width:2.77pt\"> </span></div><div class=\"ps20008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">to note 8 i- \u2018Provisions for risks, charges and contingent assets and liabilities\u2019 of the Consolidated Financial</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps20011 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:51.65pt\">statements </span><span class=\"f charStyle-58d8bcbe ps20009\" style=\"width:96.12pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps20010\" style=\"width:2.77pt\">;</span></div><div class=\"ps20012 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482pt\">compensation plans in the form of share-based payments: management estimate in determining the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps20013 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482pt\">assumptions in calculating the fair value of the plans. Please refer to note 7 v-\u2018Share-based payments\u2019 of the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps20016 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:155.54pt\">Consolidated Financial statements </span><span class=\"f charStyle-58d8bcbe ps20014\" style=\"width:96.12pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps20015\" style=\"width:2.77pt\">;</span></div><div class=\"ps20017 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">goodwill and intangible assets: management judgement of the assets to be recognised and synergies</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps20018 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">resulting from an acquisition. Management judgements and estimates required to determine future cash</span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps20019 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">flows and appropriate applicable assumptions to support the intangible asset value. Please refer to note 4</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps20022 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:275.13pt\">iii-\u2018Intangible assets\u2019 of the Consolidated Financial statements </span><span class=\"f charStyle-58d8bcbe ps20020\" style=\"width:96.12pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps20021\" style=\"width:2.77pt\">;</span></div><div class=\"ps20023 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">taxation: management judgement and estimate required to assess uncertain tax positions and the</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps20024 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">recoverability of deferred tax assets. Please refer to note 3 xiii-\u2018Taxation\u2019 of the Consolidated Financial</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps20025 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:51.65pt\">statements </span><span class=\"f charStyle-58d8bcbe ps20009\" style=\"width:96.12pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps20010\" style=\"width:2.77pt\">;</span></div><div class=\"ps20026 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.96pt\">incremental interest rate for lease transactions: management judgements and estimates required to</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps20027 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.96pt\">determine the rate level. Please refer to note 6 vii- \u2018Lease components in the statement of financial position\u2019</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps20030 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:183.3pt\">of the Consolidated Financial statements </span><span class=\"f charStyle-58d8bcbe ps20028\" style=\"width:96.12pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps20029\" style=\"width:2.77pt\">.</span></div><div><div id=\"ie3b68c32b5114a90ac1b831374b8108c_649\" style=\"position:absolute;top:56.69pt\"></div><div class=\"ps1253 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:102.01pt\">Macroeconomic and <span id=\"idc0ab3b5cfa84b9babca675af43c0769\"></span></span><span class=\"f charStyle-562c451e ps20032\" style=\"width:116.04pt\">Geopolitical Uncertainty</span></div><div class=\"ps1254 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:32.42pt\">During </span><span class=\"f charStyle-58d8bcbe ps20033\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps2083\" style=\"width:441.47pt\">, Campari Group continued to closely monitor and assess developments in the macroeconomic and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">geopolitical landscape. Particular attention was given to the ongoing conflicts and the emerging implications of</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">newly introduced import tariffs in key strategic markets. Following the announcement on 2 April 2025 by the</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.59pt\"> </span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">Trump Administration regarding the introduction of new tariffs on imports into the United States from Mexico,</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Canada, Jamaica and the European Union, alongside the prospect of further reciprocal measures, the Group</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">initiated an assessment of the potential impacts on its operations and financial performance. Although these</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">tariffs were temporarily suspended during the first six months of 2025, they have been subject to continuous</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">monitoring due to their potentially significant implications for the United States beverage alcohol industry. During</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">2025, the impact for Campari Group was limited to imports from the European Union and Jamaica into the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">United States. Given the evolving regulatory framework the Group has proactively introduced inventory</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1275 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">management measures across key geographies, alongside other mitigation actions, to absorb potential supply</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">chain disruptions arising from regulatory decisions, which may not always be foreseeable. In view of the</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">persistent uncertainty in the global trade and the shifting legal landscape, Campari Group continues to assess</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">and implement all viable mitigation strategies to safeguard operational resilience and ensure business</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1281 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:44.25pt\">continuity.</span></div><div class=\"ps20035 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:89.17pt\">Sustainability and <span id=\"id95223eaf38942b5a19fed909ece407b\"></span></span><span class=\"f charStyle-562c451e ps20034\" style=\"width:114.19pt\">Climate-related Matters</span></div><div class=\"ps1706 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Campari Group recognises the material significance of sustainability and climate\u2011related challenges and is</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1708 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">actively progressing against its defined sustainability priorities, supported by all major global functions. Building</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1709 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">on recent advances, the Group has established more ambitious medium\u2011 and long\u2011term environmental, social</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1710 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">and governance targets. In the current macroeconomic context, it is important to note that production activities,</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1711 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">the value chain and strategic execution may be affected by climate\u2011related developments, including both</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1712 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">physical risks, arising from acute events and chronic factors such as rising temperatures and water stress, and</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1713 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:66.64pt\">transition risks.</span></div><div class=\"ps1714 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">To strengthen its resilience, the Group has conducted a comprehensive climate\u2011change risk assessment across</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1715 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">its operations and value chain, identifying environmental risks and opportunities and informing mitigation and</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1716 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">adaptation measures. Through this work, Campari Group aims to reinforce its long\u2011term sustainability</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1718 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:268.19pt\">performance and contribute to broader climate\u2011action efforts.</span></div><div class=\"ps1719 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">Climate and nature-related risks encompass the potential for adverse impacts on people, ecosystems, assets,</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1720 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">services, supply chains and infrastructure, arising from changes in climatic conditions, rising temperatures and</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1722 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">broader environmental degradation. Physical risks relate to the increasing frequency and severity of extreme</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1723 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">weather events and to ecological pressures such as soil depletion or declining pollinator populations. Transition</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1724 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">risks and opportunities stem from the shift towards a low\u2011carbon, environmentally sustainable economy,</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1725 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:326.69pt\">influenced by evolving regulation, technology and consumer expectations.</span></div><div class=\"ps1726 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">As part of the 2025 assessment, Campari Group analysed physical and transition risks across its agricultural</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps2312 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">and packaging value chains, focusing on sugar and glass, two critical inputs for its core product categories. The</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps2313 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">analysis indicates increasing volatility in European sugar\u2011beet yields under adverse climate scenarios and rising</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps2314 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">cost pressures linked to stricter environmental regulations, including carbon\u2011pricing mechanisms and restrictions</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps2315 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">on plant\u2011protection products. For glass\u2011packaging, scenario\u2011based modelling highlights growing exposure to</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps2316 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">decarbonisation requirements and carbon\u2011price trajectories, which may materially increase production costs</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1324 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">over time. Overall, climate\u2011related risks are expected to increase cost volatility across key inputs, reinforcing the</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1325 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">importance of supply\u2011chain resilience. Campari Group mitigates these risks through diversified sourcing</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1327 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">strategies, multiple suppliers across regions and the option to substitute beet sugar with cane sugar when</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1328 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">needed. The Sustainable Sourcing Program will further enhance oversight on suppliers\u2019 ESG performance and</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1329 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:118.34pt\">climate\u2011risk management. </span><span class=\"f charStyle-58d8bcbe ps20036\" style=\"width:377.89pt\">For more information refer to the \u2018Impacts, Risk and Opportunities related to Climate</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1330 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:221.28pt\">change\u2019 paragraph in the Sustainability statement.</span></div><div class=\"ps1332 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Climate change is therefore a major disruptive force with the potential to drive substantial changes to the</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps20037 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">Group\u2019s operations in the short- to medium- and long-term. The assessments and considerations conducted</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps20038 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">were consistent with those carried out and disclosed in the Consolidated Financial statements as of 31</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps20041 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:49pt\">December </span><span class=\"f charStyle-58d8bcbe ps20039\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps20040\" style=\"width:424.99pt\">. No issues were identified that could not be attributed to, or resolved within, the ordinary course</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps2253 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">of business, nor was any material impact on the going concern assumption observed. The impact of climate<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps12656 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">change on cash flow forecasts has been incorporated into the projections used to identify triggering events for</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps20042 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">impairment assessments of non-current assets, including goodwill and brands. These projections are supported</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps20043 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:297.15pt\">by capital expenditure plans that include climate-related initiatives.</span><span class=\"f charStyle-58d8bcbe ps12174\" style=\"width:199.07pt\"> Furthermore, the potential effects of climate</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1567 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">change on factors influencing the carrying amount of fixed assets, such as residual values, useful lives and</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps20046 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:192.07pt\">depreciation methods, were evaluated and </span><span class=\"f charStyle-58d8bcbe ps20044\" style=\"width:159.25pt\">no triggering factors were identified </span><span class=\"f charStyle-58d8bcbe ps20045\" style=\"width:144.84pt\">for the year ended 31 December</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps20047 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps4079\" style=\"width:233.83pt\"> that would necessitate a revision of these estimates.</span></div></div><div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:209.2pt\">Going Concern Including Net Financial Debt</span><span class=\"f charStyle-a745408e ps20049\" style=\"width:23.3pt\"> and </span><span class=\"f charStyle-a745408e ps20050\" style=\"width:65.48pt\">Liquidity Risk</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">In terms of its operating and financial profiles, the Group continues to be very sound and was not exposed to</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:136.44pt\">any going-concern issues in </span><span class=\"f charStyle-58d8bcbe ps20051\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps20052\" style=\"width:337.54pt\">. Furthermore, it does not anticipate any such issues in the 12 months</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:336.08pt\">subsequent to the authorisation of these Consolidated Financial statements.</span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">With regard to the Group\u2019s net debt position and namely with respect to financial assets, these are not subject to</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">particular risks, since the investments considered by the Group are always the subject of a careful and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">scrupulous preliminary analysis and are always coherent with financial needs. With respect to financial liabilities,</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">the Group\u2019s indebtedness ratios measured internally (given the lack of covenants on existing debt) were under</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:413.37pt\">control and consistently at a level considered entirely manageable by the Group. During </span><span class=\"f charStyle-58d8bcbe ps20053\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps20054\" style=\"width:60.62pt\">, the Group\u2019s</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">financial structure was confirmed to have been strengthened by the availability of significant committed and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">uncommitted credit lines. No renegotiation of interest rates or conditions was performed outside the normal</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">course of business. The debt profile is appropriately balanced between variable and fixed rate, thus minimising</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:180.5pt\">the Group\u2019s exposure to market risk. In </span><span class=\"f charStyle-58d8bcbe ps20055\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps20056\" style=\"width:293.42pt\"> with respect to lease and rental agreements, there were no new</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">significant negotiations, including sub-leases, nor significant contract amendments generating financial</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">receivables or liabilities. In terms of fair value measurement hierarchies of financial items, there were no</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:361.64pt\">changes to be reflected other than those disclosed in the related disclosure notes.</span><span class=\"f charStyle-58d8bcbe ps20057\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">A separate analysis was performed with reference to financial liabilities arising from put option and earn-out</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">agreements valued at fair value and where the basis of the estimate is linked to brand performance. The</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">analysis was conducted in conjunction with the considerations described in relation to the impairment test on</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">goodwill, brands and intangible assets with an indefinite life in order to ensure homogeneity and consistency in</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">the valuation, and from the analyses no particular circumstances emerged requiring revisions of these liabilities</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:171.1pt\">outside the normal course of business.</span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">The macroeconomic trend in 2025 did not trigger any significant change in contracts with customers or any</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">change in the revenue recognition criteria previously identified. Significant judgements were used to review the</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">expected credit losses based on the Group business model to manage financial instruments, namely with</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">reference to the markets directly impacted by the Russia-Ukraine conflict. To facilitate liquidity management, the</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">Group continued the reverse factoring program, confirmed with a limited number of trusted suppliers involved,</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">consistent with previous years: the trade payables under reverse factoring agreements continued to be</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">classified as a component of the Group\u2019s operating working capital with no separate disclosure as primary line</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:376.04pt\">items of the Consolidated Financial statements in consideration of the total exposure.</span><span class=\"f charStyle-58d8bcbe ps20058\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:68.83pt\">Impairment of </span><span class=\"f charStyle-a745408e ps20059\" style=\"width:32.79pt\">Assets</span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:2.77pt\">I</span><span class=\"f charStyle-58d8bcbe ps20060\" style=\"width:493.34pt\">ntangible assets with an indefinite life are represented by goodwill and brands, both associated with business</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:483.58pt\">acquisitions. The Group expects to obtain positive cash flow from these assets for an indefinite period of time.</span><span class=\"f charStyle-58d8bcbe ps20061\" style=\"width:2.77pt\"> </span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Given the current environment marked by ongoing volatility and exposure to downside risks, including potentially</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">weak business sentiment and muted growth expectations, partially linked to the evolving United States import</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">tariffs introduced under the Trump Administration, the Group performed an assessment to identify any event that</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">might trigger the risk of impairment on its goodwill, brands and intangible assets with a finite life. This</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">assessment, including sensitivity analysis on the medium-term impact of the tariff risks on the recoverability of</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:407.2pt\">the goodwill value of the cash generating unit ('CGU') and brand values of the ones that are </span><span class=\"f charStyle-58d8bcbe ps20062\" style=\"width:48.33pt\">particularly</span><span class=\"f charStyle-58d8bcbe ps20063\" style=\"width:40.61pt\"> exposed</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">to the United States tariff risks, confirmed that these external events have not led to any substantial change on</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:200.52pt\">the recoverability of these intangible assets </span><span class=\"f charStyle-58d8bcbe ps20064\" style=\"width:295.66pt\">except for Cabo Wabo, Forty Creek and Wilderness brands for a</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:458.29pt\">total value of \u20ac67.4 million at the average exchange rate for the period 1 January to 31 December 2025.</span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">In the current macroeconomic circumstances, there was no evidence of significant deterioration of consumer</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">demand affecting business plans. Moreover, there has not been significant interruption of the operation of the</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Group\u2019s plants or supply from suppliers or problems with logistics and freight transport activities that the Group</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:259.95pt\">was not able to mitigate in the ordinary course of business.</span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">Furthermore, the assessment of current business conditions, performed in the context of the ongoing business</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">review and disposal initiatives, resulted in impairment charges on certain tangible assets for a total value of</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">\u20ac22.6 million (primarily related to the property, plant and equipment dedicated to the production of Wilderness</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">brand, as disclosed in the related notes); however, no further business developments are expected to trigger</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:46.48pt\">additional </span><span class=\"f charStyle-58d8bcbe ps20065\" style=\"width:49.44pt\">impairment</span><span class=\"f charStyle-58d8bcbe ps20066\" style=\"width:400.24pt\"> indicators, as the planned mitigation measures in response to the introduction of United</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">States tariffs are not anticipated to have a direct impact on operations in the near term. Moreover, there was no</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">direct impact caused by international conflicts as the Group does not have any production facilities and</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:192.76pt\">inventories in the countries directly involved</span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:88.25pt\">Provision For Risk</span><span class=\"f charStyle-a745408e ps20067\" style=\"width:23.3pt\"> and </span><span class=\"f charStyle-a745408e ps865\" style=\"width:39.99pt\">Charges</span><span class=\"f charStyle-a745408e ps20068\" style=\"width:23.3pt\"> and </span><span class=\"f charStyle-a745408e ps20069\" style=\"width:90.5pt\">Onerous Contracts</span></div><div class=\"ps20070 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">In terms of the assessment of provisions for risks and charges and onerous contracts, significant judgements</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps17167 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:436.23pt\">were used to assess the impact of triggering events. The restructuring provision recognised in the </span><span class=\"f charStyle-58d8bcbe ps20071\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps20072\" style=\"width:37.66pt\"> Group's</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps20073 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">Consolidated Financial statements was subject to a comprehensive evaluation and ongoing monitoring process</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps17331 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:132.76pt\">regarding its utilisation during </span><span class=\"f charStyle-58d8bcbe ps20074\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps20075\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-58d8bcbe ps20076\" style=\"width:2.77pt\"> </span></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:41.08pt\">Taxation</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">During the year, all material assumptions and estimates considered in the preparation of this annual report were</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">reviewed. In particular, tax rates were investigated to check for any changes that occurred during the period in</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">the various tax jurisdictions and any amendments substantially enacted were considered in assessing both</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">current and deferred taxes. The review conducted has not identified any new triggering events that could</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:59.52pt\">influence the </span><span class=\"f charStyle-58d8bcbe ps20077\" style=\"width:157.91pt\">recoverability of deferred tax assets</span><span class=\"f charStyle-58d8bcbe ps20078\" style=\"width:278.69pt\"> and the recognition of any additional liabilities for uncertain tax</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">positions or tax risks related to the macroeconomic environment or concerning climate-related or other</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">environmental matters. With reference to OECD global minimum taxes (\u2018Pillar Two\u2019), the Group updated its</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:107.69pt\">assessment confirming </span><span class=\"f charStyle-58d8bcbe ps20079\" style=\"width:63.8pt\">no significant </span><span class=\"f charStyle-58d8bcbe ps796\" style=\"width:33.34pt\">amount</span><span class=\"f charStyle-58d8bcbe ps20080\" style=\"width:70.69pt\"> of current taxe</span><span class=\"f charStyle-58d8bcbe ps20081\" style=\"width:220.68pt\">s needed to be recorded in the profit or loss for</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps4079\" style=\"width:2.77pt\">.</span></div><div class=\"ps22384 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Acquisition and Sale of Businesses and Purchase of Non-Controlling Interests<span id=\"i8f33003f0e0242e4a7eb406f0ecf81d7\"></span></span></div><div class=\"ps4310 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:57.71pt\">Accounting </span><span class=\"f charStyle-b96b9181 ps13753\" style=\"width:28.86pt\">policy</span></div><div class=\"ps22386 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:153.9pt\">Business combinations recognition</span></div><div class=\"ps22387 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Business combinations are recorded by applying the acquisition method. Ancillary costs relating to the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps22388 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">transaction are recognised in the statement of profit or loss at the time at which they are incurred. The Group</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22389 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">verifies firstly whether the acquired set of activities and assets meets the definition of a business, and control is</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22390 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">transferred to the Group, meaning that the transaction falls within the definition of a business combination. In</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22391 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">particular, the Group deems an undertaking to be a business only if it is an integrated set of activities and assets</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps22392 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">that includes at least an input and a substantive process which, together, contribute to the ability to create an</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22393 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">output. A business can therefore exist even without the inclusion of all the inputs and processes necessary to</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17286 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">create an output. The Group undertakes this assessment by also applying the option of the \u2018concentration test\u2019</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17499 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:444.37pt\">to simplify the assessment itself for each business combination to segregate asset deal transactions.</span></div><div class=\"ps22394 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Information about the fair value measurement allocated to assets acquired and liabilities assumed in the context</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22396 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:195.42pt\">of the business combination are disclosed. </span><span class=\"f charStyle-2293a859 ps22395\" style=\"width:300.74pt\">Goodwill acquired in business combinations is initially measured at</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22397 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">cost, as the excess of the sum of payments transferred as part of a business combination, the value of the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22398 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">portion of shareholders\u2019 equity relating to non-controlling interests and the fair value of any interest previously</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7857 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">held in the acquired business over the Group\u2019s portion of the net fair value of the identifiable assets, liabilities</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">and contingent liabilities of the acquired company. If the value of the net assets acquired and liabilities assumed</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7860 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">on the acquisition date exceeds the sum of the transferred payments, the value of the non-controlling interests\u2019</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7861 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">portion of shareholders\u2019 equity and the fair value of any interest previously held in the acquired business, this</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7862 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:394.34pt\">excess value is recorded in the statement of profit or loss as income from the transaction.</span><span class=\"f charStyle-2293a859 ps22399\" style=\"width:2.77pt\"> </span></div><div class=\"ps7863 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Any changes in fair value allocation of the net assets acquired occurring once more information related to the</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7864 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">business acquired as per acquisition date becomes available during the measurement period (12 months from</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7865 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:279.96pt\">the date of acquisition), are included retrospectively in goodwill.</span></div><div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:477.92pt\">Definition of the business combination costs and shareholders\u2019 equity attributable to non-controlling interests</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">The cost of an acquisition is determined by the sum of the payments transferred as part of a business</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">combination, measured at fair value, on the acquisition date and at the value of the portion of shareholders\u2019<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">equity relating to non-controlling interests. Non-controlling interests relate to the portion of a consolidated</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">subsidiary shareholders\u2019 equity not directly or indirectly attributable to the Group. At the acquisition date,</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">components of non-controlling interests in the acquiree that are present ownership interests and entitle their</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:462.51pt\">holders to a proportionate share of the entity\u2019s net assets in the event of liquidation, are either measured:</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.03pt\">at the present ownership instruments\u2019 proportionate share in the recognised amounts of the acquiree\u2019s</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.97pt\">identifiable net assets, determined according to the rules set out by the accounting standard for business</span><span class=\"f charStyle-2293a859 ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:56.67pt\">combination;<span class=\"f ps21\"> </span></span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.42pt\">at fair value.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The designated methodology of measurement method of non-controlling interests is made for each business</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">combination on a transaction-by-transaction basis and is specified when the values deriving from the allocation</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:86.67pt\">process are shown.</span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">In the case of call options likely giving the acquirer present access to returns associated with the ownership</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">interest in the shares subject to the call, or in the case of put options granted to non-controlling interests giving</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">present access to the returns associated with the ownership interest in the shares subject to the non-controlling</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">interests put or in the case of a combination of both, it is assumed that the purchase will take place on the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">earliest possible date for the maximum number of shares and the business combination is accounted for as</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">though the acquisition is at 100% interest with the recognition of a financial liability at its fair value measured at</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">the present value of the expected cash outflow to be paid to the non-controlling shareholders at the expiry of the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">option as any contingent consideration; the liability is classified as a financial instrument and considered part of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">the acquisition consideration. Changes in the carrying amount of the financial liability are recognised in the</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.94pt\">statement of profit or loss.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">In the case of put option granted to non-controlling interests at the date of or after acquiring control of a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subsidiary, which does not provide a present ownership interest, the non-controlling interest is recognised on</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:41.67pt\">initial acq</span><span class=\"f charStyle-a0f5a13b ps22400\" style=\"width:454.54pt\">uisition and, under Group policy choice while the non-controlling interests put remains unexercised, the</span><span class=\"f charStyle-a0f5a13b ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps56\" style=\"width:263.3pt\">accounting at the end of each reporting period is as follows:</span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.98pt\">the amount that would have been recognised for the non-controlling interest value is determined by including</span><span class=\"f charStyle-a0f5a13b ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:402.16pt\">allocations of profit or loss, changes in OCI and dividends declared for the reporting period;</span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:336.6pt\">the non-controlling interest is derecognised as if it was acquired at that date;</span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.96pt\">a financial liability is recognised at the present value of the amount payable on exercise of the non-controlling</span><span class=\"f charStyle-a0f5a13b ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:57.2pt\">interests put;</span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:365.31pt\">the Group accounts for the difference between (b) and (c) as an equity transaction.</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">If the non-controlling interests put expires unexercised, the position is unwound so that the non-controlling</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:440.51pt\">interest is recognised at the amount it would have been as if the put option had never been granted.</span><span class=\"f charStyle-2293a859 ps22401\" style=\"width:13.85pt\">\u00a0 \u00a0  </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">In the case of business combinations made in stages, the interest previously held by the Group in the acquired</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">business is revalued at fair value on the date on which the control is acquired, and any resulting gains or losses</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:211.05pt\">are recognised in the statement of profit or loss.</span><span class=\"f charStyle-2293a859 ps22402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:156.11pt\">Goodwill in a business combination</span></div><div class=\"ps7260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">The goodwill acquired in a business combination is allocated to the individual cash-generating units or to the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">groups of cash-generating units likely to benefit from merger synergies, regardless of whether other assets or</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.15pt\">liabilities from the acquisition are assigned to these units or groups of units.</span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">In the event of a business disposal, the goodwill of the cash-generating unit connected to the disposal is</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">included in the carrying value of the net items sold by measuring its relative fair value, having as reference the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:437.7pt\">proceeds from the sale and the most recent fair value attributed to the related cash-generating unit.</span><span class=\"f charStyle-2293a859 ps22403\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:82.78pt\">Business disposal </span><span class=\"f charStyle-ca5f4806 ps22404\" style=\"width:48.9pt\">recognition</span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">The assets and liabilities of the disposal group are classified as held for sale and measured at their relative fair</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">values at the date of classification. Relative fair value is determined reflecting the price that would be received to</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">sell an asset or paid to transfer a liability in an orderly transaction between market participants. The relative fair</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">value method is used to allocate the consideration received proportionally to the fair values of the identifiable</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">assets and liabilities in the disposal group. Where goodwill has been allocated to a cash-generating unit ('CGU')</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">disposed in these circumstances is measured based on the relative values of the disposed operation and the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">portion of the cash-generating unit retained. Any difference between the carrying amount and the allocated fair</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:256.04pt\">value is recognised in profit or loss at the time of disposal.</span></div></div><div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Intangible assets amortisation and impairment</span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">Intangible assets with a finite life are amortised on a straight-line basis in relation to their useful life and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">reviewed for impairment whenever events or circumstances indicate that the carrying amount may not be</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">recoverable. The amortisation period of intangible assets with a finite life is reviewed at least at the end of every</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">financial year in order to ascertain any changes in their useful life, which, if identified, will be treated as changes</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.09pt\">in estimates.</span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Other intangible assets with indefinite and definite life contain distribution rights and key money, the latter tested</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.24pt\">for impairment leveraging on a specialised third-party expert opinion connected to real estate assets.</span><span class=\"f charStyle-2293a859 ps22567\" style=\"width:3.45pt\"> </span><span class=\"f charStyle-2293a859 ps22568\" style=\"width:39.43pt\">Software</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:109.97pt\">amortisation rate is 20%.</span><span class=\"f charStyle-2293a859 ps22569\" style=\"width:2.77pt\"> </span><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:224.93pt\">Intangible assets with indefinite life impairment test</span></div><div class=\"ps1227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Goodwill, brands and other intangible assets with an indefinite life are not amortised and are reviewed for</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impairment tests every year or more frequently if there is any indication that the asset may be impaired. The</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">annual approval of the impairment test results is performed by the Board of Directors of Davide Campari-Milano</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:480.15pt\">N.V., which takes place before the approval of the annual financial reports (consolidated and Company only).</span><span class=\"f charStyle-2293a859 ps22571\" style=\"width:2.77pt\"> </span></div><div class=\"ps1559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The ability to recover assets is ascertained by comparing the carrying amount to the related recoverable value,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:413.26pt\">which is represented by the higher of the fair value less cost of disposal, and the value in use.</span></div><div class=\"ps1561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">In the absence of a binding sale agreement, the fair value is estimated on the basis of recent transaction values</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">in an active market, or based on the best information available to determine the amount that could be obtained</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">from selling the asset. The value in use is determined by discounting expected cash flows resulting from the use</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">of the asset, and, if significant and reasonably determinable, the cash flows resulting from its sale at the end of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">its useful life. Cash flows are determined on the basis of reasonable, documented assumptions representing the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">best estimate of the future economic conditions that will occur during the remaining useful life of the asset, with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps9942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">greater weight given to external information. Growth rate assumptions are applied to the years beyond the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:479.75pt\">business plan horizon. The discount rate applied takes into account the implicit risk of the business segment.</span></div><div class=\"ps9944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">When it is not possible to determine the recoverable value of an individual asset, the Group estimates the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:323.32pt\">recoverable value of the cash-generating unit to which the asset belongs.</span></div><div class=\"ps9946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Impairment loss is recorded if the recoverable value of an asset is lower than its carrying amount by posting the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">related cost in the statement of profit or loss and is charged to other operating expenses. Goodwill impairments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:133.32pt\">can no longer be written back.</span></div><div class=\"ps22678 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:54.96pt\">Impairment<span id=\"i43f18b7eddc347e4aac05e7f23d934b8\"></span></span><span class=\"f charStyle-562c451e ps6931\" style=\"width:20.76pt\"> test</span><span class=\"f charStyle-562c451e ps22677\" style=\"width:3.05pt\"> </span></div><div class=\"ps48 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">In line with prior years, the approval of the Group\u2019s annual assessment of the recoverability of intangible assets</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps49 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">with an indefinite useful life was completed prior to the 2025 year\u2011end. Accordingly, the carrying amount of such</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps50 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">intangible assets, i.e., the amount at which the assets are recognised in the Group\u2019s Consolidated Statement of</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps51 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Financial Position, was determined as at 30 September 2025, representing the most recent actual data available</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps2248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">at the time of the assessment. The outcomes of the impairment tests remained valid as at 31 December 2025,</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps2250 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">as no events or indicators of impairment arose during the fourth quarter of 2025 that would suggest a material</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps2252 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:359.4pt\">reduction in either the carrying amounts or the recoverable amounts of the assets</span><span class=\"f charStyle-58d8bcbe ps22679\" style=\"width:2.77pt\">.</span></div><div class=\"ps2253 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Consistent with previous years, the Group considered the business plan, including the 2026 budget and</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps2254 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">2027-2028 strategic plans (drafted by the Group\u2019s companies in 2025 and approved by the Board of Directors of</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps2255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Davide Campari-Milano N.V.), as the basis of the annual impairment test. Moreover, cash flow projections are</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">extrapolated beyond the plan period covered to be adapted for a ten-year period, with growth rates gradually</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps2260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">normalising towards the level of the perpetuity growth rate. The use of a ten-year period is justified by the long</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps2261 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">lifecycle of the brands with respect to the reference markets, and it also takes into account the long ageing</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps2262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">process of certain brands. Assumptions of future cash flows were made based on the conservative approach, in</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">terms of both expected growth rates and operating margin trends. In addition, projections were based on</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">reasonableness, prudence and consistency regarding the allocation of future selling, general and administrative</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22680 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">expenses, trends in capital investment, conditions of financial equilibrium and the main macroeconomic</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">variables. Cash flow projections relate to current operating conditions and therefore do not include cash flows</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:312.19pt\">connected with extraordinary events that are not currently foreseeable.</span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Regarding climate-related matters, the business plan considered the necessary investments to pursue the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Group\u2019s global sustainability strategy, including the path to decarbonisation based on challenging and ambitious</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">medium- and long-term environmental targets committed. Such investments were taken into account also in</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:174.95pt\">long horizon (i.e., in the terminal value).</span><span class=\"f charStyle-58d8bcbe ps22681\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">Regarding currencies, it should be noted that the projections were determined based on the exchange rates to</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">\u20ac, assumed unchanged to the ones used for drafting the 2026 budget. Although applicable IFRS principles</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">require that exchange rates are assumed flat to the current fiscal year over the time horizon, the fluctuations of</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:417.74pt\">2026 budgeted currencies are estimated not to have a meaningful impact on future cash flows.</span></div><div class=\"ps15682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">Goodwill values were tested at the aggregate level based on the values allocated to the three cash\u2010generating</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps15683 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">units ('CGUs'), i.e., EMEA CGU, Americas CGU, and Asia-Pacific CGU, in line with the Group\u2019s geographical</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15684 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">segment reporting. This structure reflects the lowest level at which goodwill is monitored by the Group and is</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15685 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">considered appropriate, given the synergies and efficiencies obtained at regional level based on its current</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps15686 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:106.66pt\">organisational structure.</span></div><div class=\"ps15687 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The allocation of goodwill for each CGU is based on the previous allocation values, adjusted to consider the</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps15688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">exchange rate effects and other variations such as perimeter change. The carrying amounts of the CGUs were</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15689 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">determined by combining the goodwill, the brand values allocated based on the profitability achieved by the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps15690 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">brand in each CGU, as well as the fixed assets and working capital, which were mainly allocated based on the</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps15691 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">relevant sales achieved in each CGU. The recoverable amounts of the CGUs were determined based on the</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">\u2018value in use\u2019 methodology. The asset value is measured by discounting the estimated future cash flows</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps15693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">generated by the continued use of such asset. Expected cash flows, which were based on the Group\u2019s cash</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps15694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">flow estimates, were discounted using a post\u2010tax discount rate, reflecting both the time value of money and a</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps2088 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">further adjustment to include the market risk and the specific risks for the business of the relevant CGU. In the</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps15695 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">impairment test performed, it has been verified that the use of a post-tax approach provides consistent results</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps15696 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:350.57pt\">with the ones which would have been obtained by adopting a pre-tax approach.</span></div><div class=\"ps15697 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">The main assumptions used in calculating the value in use of the CGUs are the long-term growth rates and</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps15698 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">discount rates. Terminal value was determined using the perpetuity growth method of discounting. Specifically, a</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15699 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">conservative perpetual growth rate was used that corresponds to the estimated inflation rates of the consumer</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps15700 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">price for the period 2026\u20102030 for the Group\u2019s key markets (source: IMF, October 2025 release), assumed to be</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15701 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">2.2% for the EMEA CGU, 2.9% for the Americas CGU and 2.4% for the Asia-Pacific CGU or 2.5% for the Group</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps15702 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">overall. The value in use of the CGUs was calculated by discounting the estimated value of future cash flows,</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps15703 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">including the terminal value, which it is assumed will derive from the continuing use of the assets, at a discount</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17522 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">rate (net of taxes and adjusted for risk) that reflects the average weighted cost of capital. Specifically, the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22683 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">discount rate used was the Weighted Average Cost of Capital (\u2018WACC\u2019), which depends on the risk associated</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22684 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">with the estimated cash flows. The WACC was determined based on observable indicators and market</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps22685 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">parameters, the current value of money and the specific risks connected with the business of the relevant CGU.</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.59pt\"> </span></div><div class=\"ps22686 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">The calculation of WACC was in line with a set of spirits industry comparable peers. The discount rates used in</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22687 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">the 2025 impairment test for the three CGUs, are as follows: 7.0% for the EMEA CGU, 8.9% for the Americas</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps22688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">CGU and 6.6% for the Asia-Pacific CGU, or 7.8% for the Group overall (decreased by approximately 30 basis</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22690 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:213.29pt\">points compared with the 2024 impairment test).</span><span class=\"f charStyle-58d8bcbe ps22689\" style=\"width:2.77pt\"> </span></div><div class=\"ps22691 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">To take into account the current market volatility and uncertainty over future economic prospects, sensitivity</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17250 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">analyses were carried out to assess the recoverability of goodwill value. Based on the methodology described</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">above, the impairment test for goodwill as of 31 December 2025 confirmed the full recoverability, including</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">sensitivity, of all the CGUs with sufficient headroom to exclude goodwill impairment losses that may arise from</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps22694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:162.23pt\">meaningful business downside risks.</span></div><div class=\"ps22712 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:321.75pt\"></td><td style=\"padding:0;width:87pt\"></td><td style=\"padding:0;width:87pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ef;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22697 ss126\"><div><div class=\"ps2415 ss110\"><span class=\"f charStyle-40131897 ps22696\">at 31 December 2025</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22698 ss126\"><div><div class=\"ps2415 ss110\"><span class=\"f charStyle-183bdf94 ps22696\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">CGU<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22700 ss126\"><div><div class=\"ps485 ss110\"><span class=\"f charStyle-183bdf94 ps22699\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6467 ss126\"><div><div class=\"ps485 ss110\"><span class=\"f charStyle-183bdf94 ps22699\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22702 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22701\">1,299.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22703 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22701\">1,464.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">EMEA<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22705 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22704\">866.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22706 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22704\">885.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22708 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22707\">67.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22709 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22707\">70.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22710 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-ba8ac8da ps22701\">2,233.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22711 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-ba8ac8da ps22701\">2,420.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15282 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:125.18pt\">Changes in goodwill values </span><span class=\"f charStyle-58d8bcbe ps22713\" style=\"width:97.08pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22714\" style=\"width:71.5pt\"> compared with </span><span class=\"f charStyle-58d8bcbe ps22715\" style=\"width:85.66pt\">31 December 2024</span><span class=\"f charStyle-58d8bcbe ps22716\" style=\"width:116.79pt\"> , are primarily attributable<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22717 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">to exchange rate effects of \u20ac147.0 million, driven by the weakening of the US dollar against the Euro.</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.22pt\"> </span></div><div class=\"ps22718 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Additionally, there was a negative perimeter effect equal to \u20ac23.0 million in connection with the divestments of</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22719 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Cinzano and Frattina proportionally allocated to the three CGUs based on the brands\u2019 profitability, as well the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22720 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:184.39pt\">disposal of the Derrimut plant in Australia.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">In addition, a separate impairment test was conducted to measure the capability of each brand to sustain its</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1881 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">value using the value in use criteria. As the Group does not manage selling, general and administrative costs at</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">brand level, the brand\u2019s profitability is measured taking into consideration the allocated costs incurred on a</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">global scale and across geographies. For the brand valuation, the Group uses the Multi\u2010period Excess Earnings</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1885 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Method ('MEEM') valuation, a widely accepted valuation methodology in practice for determining the brands' fair</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1886 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">value. The \u2019value in use\u2019 methodology is considered valid, assuming that the identification of a representative</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps4460 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:411.97pt\">sample of comparable transactions is not easily available across the different types of assets.</span></div><div class=\"ps892 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">MEEM is an earnings\u2010based valuation method. The theoretical premise of the MEEM is that the value of a brand</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps4461 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">is equal to the current value of the residual cash flows attributable to the asset analysed. According to this</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps4471 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">method, the relevant earnings attributable to the intangible asset are calculated using the income that the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps4472 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">company would record after having deducted the earnings attributable to all the other assets (contributory asset</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps4475 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">charge), i.e. deducting from the company\u2019s results the remuneration for using other assets that contribute to the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1201 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">generation of such results. Estimates of income flows generated by individual brands, net of contributory asset</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps3963 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">charge, and of the terminal value, discounted to present value using an appropriate discount rate, were used to</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps3440 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:185pt\">calculate the recoverable value of brands.</span><span class=\"f charStyle-58d8bcbe ps22722\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Consistent with the impairment test on goodwill, a 10-year cash projection was developed for the brand</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps4482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">impairment test. In the case of The GlenGrant single malt Scotch whisky, a 15-year time horizon was adopted, in</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps4483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">line with previous years. The use of a fifteen-year time horizon is justified by the long-term effect of the brand</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">ageing strategy, a commonly implemented market practice for premium spirits players. The discount rates used</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps4489 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">for the individual brands tested varied from 7.9%% to 8.8% and took into account a specific risk premium for the</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1908 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">brand in question. To determine the terminal value of each brand, a perpetual growth rate between 2.3% and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps4491 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:337.15pt\">2.5%, in line with the inflation estimates for the 2026-2030 period, was used.</span><span class=\"f charStyle-58d8bcbe ps22723\" style=\"width:2.77pt\"> </span></div><div class=\"ps17269 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The impairment test as of 2025 has indicated impairment losses, for an aggregated amount of \u20ac67.4 million, for</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps17270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">the brands of Cabo Wabo, Forty Creek and Wilderness Trail Distillery. The losses reflect the persisting weak<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17271 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">performance of the brands, driven by challenging market, industry, and category dynamics, as well as Campari</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3141 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Group\u2019s strategic decision to focus on key priority brands. Such loss was mainly attributable to the Americas</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">CGU in line with the geographic distribution of brand profitability. Excluding the aforementioned brands, the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1952 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">sensitivity analyses indicated impairment risks for the brands of Grand Marnier, The GlenGrant, Bulldog, Picon,</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps8883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">and Courvoisier. Considering a theoretical increase of WACC by +100 bps and decrease of the growth rate (\u2018g\u2019)</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps17273 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">by -100 bps, the combined theoretical impairment risk for the above-mentioned brands, excluding the</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17274 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">impairment loss already registered for the year, would be \u20ac178.0 million. The Group will closely monitor the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps8842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:393.29pt\">future development of these brands and carefully assess the recoverability of their brand </span><span class=\"f charStyle-58d8bcbe ps22724\" style=\"width:28.9pt\">values</span><span class=\"f charStyle-58d8bcbe ps22725\" style=\"width:2.77pt\">.</span></div><div class=\"ps22759 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:327.75pt\"></td><td style=\"padding:0;width:84pt\"></td><td style=\"padding:0;width:84pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6554 ss1232\"><div><div class=\"ps485 ss1231\"><span class=\"f charStyle-183bdf94 ps3368\">at 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22726 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6550\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps18329 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6550\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22727 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6557\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18349 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6557\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Grand Marnier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22728 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">300.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22729 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">300.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Courvoisier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19601 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">189.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19603 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">189.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Wild Turkey<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19609 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">155.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19611 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">175.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Picon<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19618 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">123.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19620 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">123.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">The GlenGrant and Old Smuggler<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22730 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">88.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22731 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">88.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Jamaican Rum Portfolio<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22732 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">83.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22733 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">96.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Frangelico<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22734 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">54.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps13085 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">54.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Forty Creek<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22735 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">47.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22736 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">59.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Bulldog<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22737 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">26.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22738 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">27.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Cabo Wabo<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22739 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">17.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22740 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">46.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-40131897 ps132\">Averna</span><span class=\"f charStyle-85922b7e ps22741\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22742 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22743 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">53.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-40131897 ps132\">Braulio</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22744 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22745 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Riccadonna<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22747 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps22746\">11.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22748 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps22746\">11.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11650 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Del Professore<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22749 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22750 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness Trail<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22751 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">3.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22752 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">40.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11659 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-40131897 ps132\">X-Rated Fusion Liqueur</span><span class=\"f charStyle-85922b7e ps557\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22753 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22754 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11663 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22755 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">26.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22756 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11174 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22757 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">1,144.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22758 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">1,314.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22762 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:199.03pt\">The amount as at 31 December 2025 was reclassified as an ass</span><span class=\"f charStyle-40131897 ps22760\" style=\"width:84.34pt\">et held for sale during the y</span><span class=\"f charStyle-40131897 ps22761\" style=\"width:11.67pt\">ear.</span></div><div class=\"ps22763 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:271.53pt\">Asset with finite life. The brand value amortised over a timeframe of 10 years until 2025.<span class=\"f ps21\"> </span></span></div><div class=\"ps25529 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Share-Based Payments<span id=\"i60740e306d9845f1896e76a736d638d0\"></span></span></div><div class=\"ps3972 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps3973 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-b96b9181 ps1256\" style=\"width:232.54pt\">Compensation plans in the form of stock options</span></div><div class=\"ps3974 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The Group has multiple incentive plans in place, including benefits in the form of stock option plans, governed in</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps3978 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">accordance with the shareholders\u2019 resolution, pursuant to applicable law and implemented by means of a<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">specific regulation (\u2018Stock Option Regulations\u2019). The purpose of the plan is to offer beneficiaries, who occupy</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps3981 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">key positions in the Group the opportunity to own shares in Davide Campari-Milano N.V., thereby aligning their</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps3985 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">interests with those of other shareholders and fostering loyalty, in the context of the strategic goals to be</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1216 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">achieved. The recipients are employees, directors and/or individuals who regularly work for one or more Group</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps3986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">companies, who have been identified by the Board of Directors of Davide Campari-Milano N.V., and who, on the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7502 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">approval date of the plan and until the date that the options are exercised, have worked as employees and/or<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7505 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">directors and/or in any other capacity at one or more Group companies without interruption. The Board of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps19843 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Directors of Davide Campari-Milano N.V. has the right to draft regulations, select beneficiaries and determine<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps19844 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.29pt\">the share quantities and values for the execution of the stock option plans.</span></div><div class=\"ps18847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">The fair value of stock options is represented by the value of the option calculated by applying the Black-<span class=\"f ps21\"> </span></span></div><div class=\"ps19845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Scholes model, and the grant date starts once the options are assigned. Volatility is estimated with the help of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps19846 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">data supplied by a market information provider together with a leading bank, and corresponds to the estimate of</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps19847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">volatility recorded in the period covered by the plan. The stock options are recorded at fair value with an</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps19848 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">offsetting entry in the stock option reserve. The dilutive effect of options not yet exercised is included in the</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps25534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:176.67pt\">calculation of diluted earnings per share</span><span class=\"f charStyle-2293a859 ps25530\" style=\"width:19.39pt\">.\u00a0 \u00a0 \u00a0 </span><span class=\"f charStyle-58d8bcbe ps25531\" style=\"width:8.31pt\">\u00a0  </span><span class=\"f charStyle-58d8bcbe ps25532\" style=\"width:8.31pt\">\u00a0  </span><span class=\"f charStyle-58d8bcbe ps25533\" style=\"width:19.39pt\">\u00a0 \u00a0 \u00a0  </span></div><div class=\"ps25571 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Considering the transition to the new Long-Term Incentive Plan described below, no stock options have been</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps25572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:92.24pt\">granted during 2025.</span></div><div class=\"ps25576 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:238.87pt\">The average remaining life of outstanding options </span><span class=\"f charStyle-58d8bcbe ps25573\" style=\"width:103.5pt\">at 31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps25574\" style=\"width:129.17pt\"> was 1.9 years (2.7 years <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps25575\" style=\"width:24.68pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2024</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:6.1pt\">).</span><div class=\"ps25580 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps25581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:496.21pt\">Share-based payments in the form of the Employees Share Ownership Plan ('ESOP') and Mid-Term</span><span class=\"f charStyle-b96b9181 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps14348 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:99.34pt\">Incentive Plan (\u2018MTI\u2019)</span></div><div class=\"ps11490 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Shareholders\u2019 Meeting of 8 April 2021 approved the resolution for the implementation of the Employee</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps25582 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Share Ownership Plan (\u2018ESOP\u2019). ESOP is a share matching plan offering employees the opportunity to invest in</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps21000 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Davide Campari-Milano N.V. shares. The ESOP is intended for all Group employees, with the exception of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25583 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">members of the Board of Directors. These employees will be offered the opportunity to allocate certain amounts</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps25584 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">to the plan, which will be used to purchase shares of Davide Campari-Milano N.V. (the \u2018Purchased Shares\u2019) by</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps25585 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">the plan administrator and, after a three-year vesting period, complementary free shares will be awarded. The</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps25587 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:269.99pt\">free shares granted represent an equity-settled arrangement.</span><span class=\"f charStyle-2293a859 ps25586\" style=\"width:2.77pt\"> </span></div><div class=\"ps24847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The accounting treatment for the ESOP follows the accounting treatment applied for benefits granted in the form</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps24848 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">of stock option plans. The fair value of the ESOP Plan is represented by the value of the option calculated by<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25588 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">applying the Black-Scholes model. In the event that the granting of the benefit in the form of a share-based</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25589 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">scheme is not permitted or it is not effective on the basis of specific national legislation, the same benefits are</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps25590 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">granted in the form of a phantom stock option plan. These plans confer the same rights as the ESOP but are</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps25591 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">cash-settled and the initial fair value measurement is calculated by applying the Black-Scholes model. The cost</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps25592 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">resulting from this valuation is spread over the vesting period, with an impact on the profit or loss using a long-</span></div><div class=\"ps25593 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">term liability offsetting account (instead of an equity reserve). As a subsequent measurement, at each balance</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps25594 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">sheet date and at least once a year and on the settlement date, the value of the phantom plan must be fully<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">remeasured on the basis of the current market value of the Davide Campari-Milano N.V. shares. Any cumulative</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps11386 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.05pt\">changes in fair value are recognised in the profit or loss in the remeasurement period to align the liability with</span><span class=\"f charStyle-2293a859 ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps11387 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:260.17pt\">the \u2018pro-rata\u2019 value of the expected bonus payment payout.</span><span class=\"f charStyle-2293a859 ps25595\" style=\"width:2.77pt\"> </span></div><div class=\"ps1993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">On 13 April 2022, the Annual General Meeting approved a Mid-Term Incentive Plan (\u2018MTI\u2019) based on Campari</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps11389 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">shares and aimed at rewarding Camparistas for their active participation in the Group performance and fostering</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps11390 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">their retention. Eligible Camparistas will be granted a right to receive a number of Campari shares for free,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps11391 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subject to their uninterrupted employment over a three-year vesting period from the grant date. The number of</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps11392 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">award rights to be granted to each beneficiary will be calculated based on the beneficiary\u2019s annual base gross</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps11393 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">salary as of 31 December preceding the grant date. The MTI Plan approved in April 2022 foresees 3 grants for</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps11394 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:69.98pt\">the following thr</span><span class=\"f charStyle-2293a859 ps9385\" style=\"width:41.11pt\">ee years.</span></div><div class=\"ps11396 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">The ESOP and MTI information documents, drafted in accordance with applicable legislation, are available on</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps11397 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:108.69pt\">the Company\u2019s website: </span><span class=\"f charStyle-6e73145d ps25596\" style=\"width:228.93pt\">www.camparigroup.com/en/page/group/governance</span><span class=\"f charStyle-2293a859 ps25597\" style=\"width:2.77pt\">.</span></div><div class=\"ps25618 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">The following assumptions were used for the weighted average fair value measurement of the ESOP plan for</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23474 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">complementary free share assignment in the twelve months ended 31 December 2025 and 31 December 2024.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.59pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25619 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:479.98pt\">The weighted average fair value for complementary free shares assigned in 2025 was \u20ac6.06 (\u20ac9.09 in 2024).</span></div><div class=\"ps25630 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:323.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Black-Scholes - model parameters<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25600 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps8689\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps12317 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps8689\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Expected dividends (\u20ac)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25602 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25621\">0.065<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps12325 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25621\">0.065<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Expected volatility (%)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25604 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25622\"></span><span class=\"ps25622\">225.09%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12333 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25622\"></span><span class=\"ps25622\">199.74%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Historic volatility (%)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25624 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25623\"></span><span class=\"ps25623\">31.48%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12369 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25623\"></span><span class=\"ps25623\">24.00%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Market interest rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25626 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25625\"></span><span class=\"ps25625\">2.18%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12376 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25625\"></span><span class=\"ps25625\">2.75%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Expected option life (years)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25628 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25627\">3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25629 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25627\">3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25634 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps25635 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b96b9181 ps56\">Share-based payments in the form of Long-Term Incentive Plan (\u2018LTI\u2019)</span></div><div class=\"ps9727 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The General Meeting of 11 April 2024 approved a Remuneration Policy that entitles key management personnel</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25636 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">and senior employees to receive Long-Term Incentive Plans. The plans entitle eligible Camparistas to receive a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps25637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">number of Campari shares for free, subject to their uninterrupted employment over a contractually defined</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps25638 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">vesting period from the grant date (Restricted Stock Units or \u2018RSU\u2019) and a number of Campari shares for free,</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps25639 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subject to the achievement of Campari Group\u2019s performance conditions (Performance Stock Units or \u2018PSU\u2019) to</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps25640 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">be achieved over the vesting period. The performance conditions are both market conditions represented by the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22436 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">relative Total Shareholders\u2019 Return (\u2018TSR\u2019) and non-market conditions represented by renewable energy targets.</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.59pt\"> </span></div><div class=\"ps25641 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">The fair value of these plans has been measured based on the following: for RSU the number of award rights to</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps12486 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">be granted to each beneficiary is calculated based on the beneficiary\u2019s annual base gross salary as of 31<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25642 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">December preceding the grant date; for PSU the fair value has been measured using a stochastic or Black-</span></div><div class=\"ps25643 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Scholes method, where service and non-market conditions attached to the agreements were not taken into<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25644 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:141.1pt\">account in measuring fair value.</span></div><div class=\"ps7439 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:460.29pt\">The following assumptions were used for the fair value measurement of PSU assigned during the year </span><span class=\"f charStyle-58d8bcbe ps25675\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps25676\" style=\"width:13.69pt\">, in</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps17200 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:181.27pt\">connection with LTI plans for Lead Team.</span></div><div class=\"ps16204 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:323.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Black-Scholes and stochastic method - model parameters<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25600 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-40131897 ps8689\">at 31 December 2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps12317 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps8689\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Expected dividends yield (%)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25602 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25625\"></span><span class=\"ps25625\">1.14%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps12325 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25625\"></span><span class=\"ps25625\">0.71%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Expected volatility (%)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25604 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25623\"></span><span class=\"ps25623\">27.55%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12333 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25623\"></span><span class=\"ps25623\">22.46%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Historic volatility (%)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25624 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25677\"></span><span class=\"ps25677\">34%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12369 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25677\"></span><span class=\"ps25677\">24%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Market interest rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25626 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25625\"></span><span class=\"ps25625\">2.21%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12376 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25625\"></span><span class=\"ps25625\">3.30%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Expected option life (years)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25628 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25678\">3.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25629 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25678\">7.55<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25977 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Provisions for Risks, Charges and Contingent Assets and Liabilities<span id=\"ia9081d352c7d4bd0a5d90f2f36c22ab9\"></span></span></div><div class=\"ps3959 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps3960 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Provisions arising from legal or constructive obligations resulting from past events are reliably estimated and</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps3961 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">reviewed periodically to reflect changes in circumstances, timescales and discount rates. Revisions to estimates</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3962 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">of provisions are booked to the same statement of profit or loss item that contains the accrual, or, if the liability</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">relates to tangible assets (i.e., dismantling and restoration), these revisions are reported as an offsetting entry to</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps3963 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">the related asset. Where the financial impact of the timing is significant and the payment dates of the obligations</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">can be reliably estimated, the provision is discounted to present value. The related amount over time is</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17511 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">allocated to the statement of profit or loss. When the Group expects that all or part of the provisions will be</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25980 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">repaid by third parties, a receivable is recorded under assets only if it is virtually certain and the accrual and</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25981 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:276.03pt\">related repayment are posted to the statement of profit or loss.</span></div><div class=\"ps1580 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Dedicated restructuring provisions are only reported if there is a restructuring obligation deriving from a formal</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17017 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">detailed restructuring program, which has led to a reasonable expectation by interested parties that the</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25982 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">restructuring will be carried out with an outflow of resources whose amount can be reliably estimated, either</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1540 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">because the process has already started or because the main features of the restructuring program have</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1541 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:128.35pt\">already been communicated.</span></div><div class=\"ps1542 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.23pt\">For detailed information on the accounting policy related to tax provisions, refer to note 3 xiii-\u2018Taxation\u2019.</span><span class=\"f charStyle-2293a859 ps25983\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps1543 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">The Group may be involved in legal proceedings, in respect of which it is not possible to make a reliable</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1544 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">estimate of any expected settlement. Such cases are reported as contingent liabilities with a specific disclosure</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17156 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:180.55pt\">made available for information purposes.</span><span class=\"f charStyle-2293a859 ps25984\" style=\"width:2.77pt\"> </span></div><div class=\"ps25985 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The Group discloses purely contingent assets and provides information when there are material amounts that</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps25986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">are highly likely to be realised. The Group records the relevant asset only when the original uncertainty relating</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25988 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.68pt\">to it no longer applies and it is virtually certain that the asset will be realised</span><span class=\"f charStyle-2293a859 ps25987\" style=\"width:2.77pt\">.</span></div><div class=\"ps26151 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Fair Value Information on Assets and Liabilities<span id=\"if2edeecf2a55458e960be05d8323a9a7\"></span></span></div><div class=\"ps24485 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps24487 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:188.86pt\">Fair value on financial assets and liabilities</span></div><div class=\"ps24488 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:408.78pt\">For fair value information on financial assets and liabilities, please refer to note 6 i-\u2018Financial </span><span class=\"f charStyle-6e73145d ps26152\" style=\"width:56.65pt\">instruments\u2019.</span><span class=\"f charStyle-6e73145d ps1927\" style=\"width:2.77pt\"> </span></div><div class=\"ps26153 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:133.88pt\">Fair value on biological assets<span class=\"f ps21\"> </span></span></div><div class=\"ps26154 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group\u2019s biological assets include grapes for champagne production, sugar cane plantations for rum</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26155 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">production and agave for tequila/mezcal production, which are used as raw materials for the production of those</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps26156 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:28.87pt\">spirits.</span><span class=\"f charStyle-2293a859 ps6790\" style=\"width:2.77pt\"> </span></div><div class=\"ps26157 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">Grapevines remain classified as fixed biological assets valued at cost, net of accumulated depreciation and</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps17581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">accumulated impairment losses. Immature vines are stated at accumulated cost. Capitalisation of costs ceases<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26158 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">when the vines reach maturity. Depreciation commences when the grapevines are considered mature, which is</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26159 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">when they produce their first commercially viable crop. Grapes growing on the plant are immediately classified</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26160 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">as biological inventory since agricultural output covers a one-year period and the harvest is expected to occur in</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps26161 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">the second half of the year. Taking into account the biological and vegetative cycle, all the costs incurred in</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps15429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">anticipation of the future harvest (services, products and other ancillary costs) are considered as inventory in</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15430 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">current biological assets at the reporting date, at a value that is in line with the fair value of the growing grapes<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15431 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:249.43pt\">based on available information on commodities markets.</span></div><div class=\"ps15433 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">Sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps12184 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">depreciation and accumulated impairment losses up to the harvest, which occurs from February to June. At</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps12185 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">harvest time, the agricultural output that covers a one-year period is classified as an inventory item at a value</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps12186 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">estimated based on the costs of infrastructure, land preparation and sugar cane cultivation, with reference to an</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">active market for comparable plantations and similar output in terms of age and qualitative characteristics, if<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:42.23pt\">available.</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Agave plantations remain classified as fixed biological assets valued at cost, net of accumulated depreciation</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">and accumulated impairment losses. The vegetative cycle for the ripening of the agave fruit is approximately six</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">years. During this period, the agave plants have not yet matured to be used for distillation purposes but can</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">theoretically be sold as medium-aged plants. Agave cannot be distinguished from planting and can only be</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:81.93pt\">harvested once. T</span><span class=\"f charStyle-2293a859 ps26162\" style=\"width:414.26pt\">he value of the growing product is represented as biological inventory and the reported fair</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">value is estimated on the basis of the costs of infrastructure, soil preparation and agave cultivation, in the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">absence of an active reference market for comparable plantations and similar productions in terms of age and</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.42pt\">qualitative characteristics.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The following biological assets are not measured at fair value, and consequently are not represented in this</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:82.22pt\">disclosure section:</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">grapevines and agave plantations which remain classified as fixed biological assets valued at cost, net of</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:278.9pt\">accumulated depreciation and accumulated impairment losses,</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:332.21pt\">depreciation and accumulated impairment losses, up to the annual harvest.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Fair value measurement of current biological assets in inventory (agricultural produce: agave, grapes and sugar)</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">is determined based on the sale price net of estimated sales costs, if available, or having as the main reference</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">the total production costs in case the agricultural product is so peculiar that there is an absence of any active</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div>reference market for comparable plantations and similar output in terms of age and qualitative characteristics.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-434": {
   "value": "iv.\u00a0  Use of EstimatesPreparation of the Consolidated Financial statements at 31 December 2025 and the related notes in accordance with IFRS requires management to make estimates and assumptions that have an impact on the Group\u2019s assets and liabilities and items in the profit or loss during the year. These estimates and assumptions, which are based on the best valuations available at the time of their preparation and are reviewed regularly, may differ from the actual circumstances and may be revised accordingly at the time the circumstances change or when new information becomes available. Future outcomes can consequently differ from estimates.Details of critical estimates and judgements that could have a material impact on the financial statements are set out in the related notes as follows: -\u00a0   business combination and disposal: management judgement to determine all the factors relevant to the relationship with the investee to ascertain whether control has been established and whether the investee should be consolidated as a subsidiary in the context of a business combination; management judgement to determine the relative fair values of the net assets to be derecognised in the context of a business disposal. Management judgement to define fair acquisition values that are attributed to the assets and liabilities acquired and disposed. Please refer to note 4 i-\u2018Acquisition and sale of businesses and purchase of non-controlling interests\u2019, 4 viii-'Disposal Group Classified as Held for Sale', 6 iv-\u2018Other non-current financial assets\u2019, 6 v-\u2018Non-current financial debt\u2019, 6 vi-\u2018Current financial debt\u2019 and 3 vi- 'Selling, General and Administrative Expenses and Other Income and Expenses from business disposal'. of the Consolidated   Financial statements at 31 December 2025;-\u00a0   disclosures for contingent assets and liabilities: management judgement in assessing the likelihood of whether a liability will arise and an estimate to quantify the possible range of any settlement and judgement in assessing the likelihood of the assets collection. Please refer to note 8 i- \u2018Provisions for risks, charges and   contingent assets and liabilities\u2019 of the Consolidated Financial statements at 31 December 2025;-\u00a0   restructuring provisions, provisions for risks and charges: management judgement in assessing the likelihood of whether a liability will arise and an estimate to quantify the possible range of any settlement. Please refer to note 8 i- \u2018Provisions for risks, charges and contingent assets and liabilities\u2019 of the Consolidated Financial statements at 31 December 2025;-\u00a0   compensation plans in the form of share-based payments: management estimate in determining the assumptions in calculating the fair value of the plans. Please refer to note 7 v-\u2018Share-based payments\u2019 of the Consolidated Financial statements at 31 December 2025;-\u00a0   goodwill and intangible assets: management judgement of the assets to be recognised and synergies resulting from an acquisition. Management judgements and estimates required to determine future cash flows and appropriate applicable assumptions to support the intangible asset value. Please refer to note 4 iii-\u2018Intangible assets\u2019 of the Consolidated Financial statements at 31 December 2025;-\u00a0   taxation: management judgement and estimate required to assess uncertain tax positions and the recoverability of deferred tax assets. Please refer to note 3 xiii-\u2018Taxation\u2019 of the Consolidated Financial statements at 31 December 2025;-\u00a0   incremental interest rate for lease transactions: management judgements and estimates required to determine the rate level. Please refer to note 6 vii- \u2018Lease components in the statement of financial position\u2019 of the Consolidated Financial statements at 31 December 2025.Macroeconomic and Geopolitical UncertaintyDuring 2025, Campari Group continued to closely monitor and assess developments in the macroeconomic and   geopolitical landscape. Particular attention was given to the ongoing conflicts and the emerging implications of newly introduced import tariffs in key strategic markets. Following the announcement on 2 April 2025 by the Trump Administration regarding the introduction of new tariffs on imports into the United States from Mexico, Canada, Jamaica and the European Union, alongside the prospect of further reciprocal measures, the Group initiated an assessment of the potential impacts on its operations and financial performance. Although these tariffs were temporarily suspended during the first six months of 2025, they have been subject to continuous monitoring due to their potentially significant implications for the United States beverage alcohol industry. During 2025, the impact for Campari Group was limited to imports from the European Union and Jamaica into the United States. Given the evolving regulatory framework the Group has proactively introduced inventory management measures across key geographies, alongside other mitigation actions, to absorb potential supply chain disruptions arising from regulatory decisions, which may not always be foreseeable. In view of the persistent uncertainty in the global trade and the shifting legal landscape, Campari Group continues to assess and implement all viable mitigation strategies to safeguard operational resilience and ensure business continuity.Sustainability and Climate-related MattersCampari Group recognises the material significance of sustainability and climate\u2011related challenges and is actively progressing against its defined sustainability priorities, supported by all major global functions. Building on recent advances, the Group has established more ambitious medium\u2011 and long\u2011term environmental, social and governance targets. In the current macroeconomic context, it is important to note that production activities, the value chain and strategic execution may be affected by climate\u2011related developments, including both physical risks, arising from acute events and chronic factors such as rising temperatures and water stress, and transition risks.To strengthen its resilience, the Group has conducted a comprehensive climate\u2011change risk assessment across its operations and value chain, identifying environmental risks and opportunities and informing mitigation and adaptation measures. Through this work, Campari Group aims to reinforce its long\u2011term sustainability performance and contribute to broader climate\u2011action efforts.Climate and nature-related risks encompass the potential for adverse impacts on people, ecosystems, assets, services, supply chains and infrastructure, arising from changes in climatic conditions, rising temperatures and broader environmental degradation. Physical risks relate to the increasing frequency and severity of extreme weather events and to ecological pressures such as soil depletion or declining pollinator populations. Transition risks and opportunities stem from the shift towards a low\u2011carbon, environmentally sustainable economy, influenced by evolving regulation, technology and consumer expectations.As part of the 2025 assessment, Campari Group analysed physical and transition risks across its agricultural and packaging value chains, focusing on sugar and glass, two critical inputs for its core product categories. The analysis indicates increasing volatility in European sugar\u2011beet yields under adverse climate scenarios and rising cost pressures linked to stricter environmental regulations, including carbon\u2011pricing mechanisms and restrictions on plant\u2011protection products. For glass\u2011packaging, scenario\u2011based modelling highlights growing exposure to decarbonisation requirements and carbon\u2011price trajectories, which may materially increase production costs over time. Overall, climate\u2011related risks are expected to increase cost volatility across key inputs, reinforcing the importance of supply\u2011chain resilience. Campari Group mitigates these risks through diversified sourcing strategies, multiple suppliers across regions and the option to substitute beet sugar with cane sugar when needed. The Sustainable Sourcing Program will further enhance oversight on suppliers\u2019 ESG performance and climate\u2011risk management. For more information refer to the \u2018Impacts, Risk and Opportunities related to Climate change\u2019 paragraph in the Sustainability statement.Climate change is therefore a major disruptive force with the potential to drive substantial changes to the Group\u2019s operations in the short- to medium- and long-term. The assessments and considerations conducted were consistent with those carried out and disclosed in the Consolidated Financial statements as of 31 December 2025. No issues were identified that could not be attributed to, or resolved within, the ordinary course of business, nor was any material impact on the going concern assumption observed. The impact of climate   change on cash flow forecasts has been incorporated into the projections used to identify triggering events for impairment assessments of non-current assets, including goodwill and brands. These projections are supported by capital expenditure plans that include climate-related initiatives. Furthermore, the potential effects of climate change on factors influencing the carrying amount of fixed assets, such as residual values, useful lives and depreciation methods, were evaluated and no triggering factors were identified for the year ended 31 December 2025 that would necessitate a revision of these estimates.Going Concern Including Net Financial Debt and Liquidity RiskIn terms of its operating and financial profiles, the Group continues to be very sound and was not exposed to any going-concern issues in 2025. Furthermore, it does not anticipate any such issues in the 12 months subsequent to the authorisation of these Consolidated Financial statements.With regard to the Group\u2019s net debt position and namely with respect to financial assets, these are not subject to particular risks, since the investments considered by the Group are always the subject of a careful and scrupulous preliminary analysis and are always coherent with financial needs. With respect to financial liabilities, the Group\u2019s indebtedness ratios measured internally (given the lack of covenants on existing debt) were under control and consistently at a level considered entirely manageable by the Group. During 2025, the Group\u2019s financial structure was confirmed to have been strengthened by the availability of significant committed and uncommitted credit lines. No renegotiation of interest rates or conditions was performed outside the normal course of business. The debt profile is appropriately balanced between variable and fixed rate, thus minimising the Group\u2019s exposure to market risk. In 2025 with respect to lease and rental agreements, there were no new significant negotiations, including sub-leases, nor significant contract amendments generating financial receivables or liabilities. In terms of fair value measurement hierarchies of financial items, there were no changes to be reflected other than those disclosed in the related disclosure notes. A separate analysis was performed with reference to financial liabilities arising from put option and earn-out agreements valued at fair value and where the basis of the estimate is linked to brand performance. The analysis was conducted in conjunction with the considerations described in relation to the impairment test on goodwill, brands and intangible assets with an indefinite life in order to ensure homogeneity and consistency in the valuation, and from the analyses no particular circumstances emerged requiring revisions of these liabilities outside the normal course of business.The macroeconomic trend in 2025 did not trigger any significant change in contracts with customers or any change in the revenue recognition criteria previously identified. Significant judgements were used to review the expected credit losses based on the Group business model to manage financial instruments, namely with reference to the markets directly impacted by the Russia-Ukraine conflict. To facilitate liquidity management, the Group continued the reverse factoring program, confirmed with a limited number of trusted suppliers involved, consistent with previous years: the trade payables under reverse factoring agreements continued to be classified as a component of the Group\u2019s operating working capital with no separate disclosure as primary line items of the Consolidated Financial statements in consideration of the total exposure. Impairment of AssetsIntangible assets with an indefinite life are represented by goodwill and brands, both associated with business acquisitions. The Group expects to obtain positive cash flow from these assets for an indefinite period of time. Given the current environment marked by ongoing volatility and exposure to downside risks, including potentially weak business sentiment and muted growth expectations, partially linked to the evolving United States import tariffs introduced under the Trump Administration, the Group performed an assessment to identify any event that might trigger the risk of impairment on its goodwill, brands and intangible assets with a finite life. This assessment, including sensitivity analysis on the medium-term impact of the tariff risks on the recoverability of the goodwill value of the cash generating unit ('CGU') and brand values of the ones that are particularly exposed to the United States tariff risks, confirmed that these external events have not led to any substantial change on the recoverability of these intangible assets except for Cabo Wabo, Forty Creek and Wilderness brands for a total value of \u20ac67.4 million at the average exchange rate for the period 1 January to 31 December 2025.In the current macroeconomic circumstances, there was no evidence of significant deterioration of consumer demand affecting business plans. Moreover, there has not been significant interruption of the operation of the Group\u2019s plants or supply from suppliers or problems with logistics and freight transport activities that the Group was not able to mitigate in the ordinary course of business.Furthermore, the assessment of current business conditions, performed in the context of the ongoing business review and disposal initiatives, resulted in impairment charges on certain tangible assets for a total value of \u20ac22.6 million (primarily related to the property, plant and equipment dedicated to the production of Wilderness brand, as disclosed in the related notes); however, no further business developments are expected to trigger additional impairment indicators, as the planned mitigation measures in response to the introduction of United States tariffs are not anticipated to have a direct impact on operations in the near term. Moreover, there was no direct impact caused by international conflicts as the Group does not have any production facilities and inventories in the countries directly involvedProvision For Risk and Charges and Onerous ContractsIn terms of the assessment of provisions for risks and charges and onerous contracts, significant judgements were used to assess the impact of triggering events. The restructuring provision recognised in the 2024 Group's Consolidated Financial statements was subject to a comprehensive evaluation and ongoing monitoring process regarding its utilisation during 2025. TaxationDuring the year, all material assumptions and estimates considered in the preparation of this annual report were reviewed. In particular, tax rates were investigated to check for any changes that occurred during the period in the various tax jurisdictions and any amendments substantially enacted were considered in assessing both current and deferred taxes. The review conducted has not identified any new triggering events that could influence the recoverability of deferred tax assets and the recognition of any additional liabilities for uncertain tax positions or tax risks related to the macroeconomic environment or concerning climate-related or other environmental matters. With reference to OECD global minimum taxes (\u2018Pillar Two\u2019), the Group updated its assessment confirming no significant amount of current taxes needed to be recorded in the profit or loss for 2025.i.\u00a0  Acquisition and Sale of Businesses and Purchase of Non-Controlling InterestsAccounting policyBusiness combinations recognitionBusiness combinations are recorded by applying the acquisition method. Ancillary costs relating to the transaction are recognised in the statement of profit or loss at the time at which they are incurred. The Group verifies firstly whether the acquired set of activities and assets meets the definition of a business, and control is transferred to the Group, meaning that the transaction falls within the definition of a business combination. In particular, the Group deems an undertaking to be a business only if it is an integrated set of activities and assets that includes at least an input and a substantive process which, together, contribute to the ability to create an output. A business can therefore exist even without the inclusion of all the inputs and processes necessary to create an output. The Group undertakes this assessment by also applying the option of the \u2018concentration test\u2019 to simplify the assessment itself for each business combination to segregate asset deal transactions.Information about the fair value measurement allocated to assets acquired and liabilities assumed in the context of the business combination are disclosed. Goodwill acquired in business combinations is initially measured at cost, as the excess of the sum of payments transferred as part of a business combination, the value of the portion of shareholders\u2019 equity relating to non-controlling interests and the fair value of any interest previously held in the acquired business over the Group\u2019s portion of the net fair value of the identifiable assets, liabilities and contingent liabilities of the acquired company. If the value of the net assets acquired and liabilities assumed on the acquisition date exceeds the sum of the transferred payments, the value of the non-controlling interests\u2019 portion of shareholders\u2019 equity and the fair value of any interest previously held in the acquired business, this excess value is recorded in the statement of profit or loss as income from the transaction. Any changes in fair value allocation of the net assets acquired occurring once more information related to the business acquired as per acquisition date becomes available during the measurement period (12 months from the date of acquisition), are included retrospectively in goodwill.Definition of the business combination costs and shareholders\u2019 equity attributable to non-controlling interestsThe cost of an acquisition is determined by the sum of the payments transferred as part of a business combination, measured at fair value, on the acquisition date and at the value of the portion of shareholders\u2019   equity relating to non-controlling interests. Non-controlling interests relate to the portion of a consolidated subsidiary shareholders\u2019 equity not directly or indirectly attributable to the Group. At the acquisition date, components of non-controlling interests in the acquiree that are present ownership interests and entitle their holders to a proportionate share of the entity\u2019s net assets in the event of liquidation, are either measured:-\u00a0   at the present ownership instruments\u2019 proportionate share in the recognised amounts of the acquiree\u2019s identifiable net assets, determined according to the rules set out by the accounting standard for business combination; -\u00a0   at fair value.The designated methodology of measurement method of non-controlling interests is made for each business combination on a transaction-by-transaction basis and is specified when the values deriving from the allocation process are shown.In the case of call options likely giving the acquirer present access to returns associated with the ownership interest in the shares subject to the call, or in the case of put options granted to non-controlling interests giving present access to the returns associated with the ownership interest in the shares subject to the non-controlling interests put or in the case of a combination of both, it is assumed that the purchase will take place on the earliest possible date for the maximum number of shares and the business combination is accounted for as though the acquisition is at 100% interest with the recognition of a financial liability at its fair value measured at the present value of the expected cash outflow to be paid to the non-controlling shareholders at the expiry of the option as any contingent consideration; the liability is classified as a financial instrument and considered part of the acquisition consideration. Changes in the carrying amount of the financial liability are recognised in the statement of profit or loss.In the case of put option granted to non-controlling interests at the date of or after acquiring control of a subsidiary, which does not provide a present ownership interest, the non-controlling interest is recognised on initial acquisition and, under Group policy choice while the non-controlling interests put remains unexercised, the accounting at the end of each reporting period is as follows:-\u00a0   the amount that would have been recognised for the non-controlling interest value is determined by including allocations of profit or loss, changes in OCI and dividends declared for the reporting period;-\u00a0   the non-controlling interest is derecognised as if it was acquired at that date;-\u00a0   a financial liability is recognised at the present value of the amount payable on exercise of the non-controlling interests put;-\u00a0   the Group accounts for the difference between (b) and (c) as an equity transaction.If the non-controlling interests put expires unexercised, the position is unwound so that the non-controlling interest is recognised at the amount it would have been as if the put option had never been granted.\u00a0 \u00a0  In the case of business combinations made in stages, the interest previously held by the Group in the acquired business is revalued at fair value on the date on which the control is acquired, and any resulting gains or losses are recognised in the statement of profit or loss. Goodwill in a business combinationThe goodwill acquired in a business combination is allocated to the individual cash-generating units or to the groups of cash-generating units likely to benefit from merger synergies, regardless of whether other assets or liabilities from the acquisition are assigned to these units or groups of units.In the event of a business disposal, the goodwill of the cash-generating unit connected to the disposal is included in the carrying value of the net items sold by measuring its relative fair value, having as reference the proceeds from the sale and the most recent fair value attributed to the related cash-generating unit. Business disposal recognitionThe assets and liabilities of the disposal group are classified as held for sale and measured at their relative fair values at the date of classification. Relative fair value is determined reflecting the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The relative fair value method is used to allocate the consideration received proportionally to the fair values of the identifiable assets and liabilities in the disposal group. Where goodwill has been allocated to a cash-generating unit ('CGU') and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative values of the disposed operation and the portion of the cash-generating unit retained. Any difference between the carrying amount and the allocated fair value is recognised in profit or loss at the time of disposal.iii.\u00a0  Intangible AssetsIntangible assets amortisation and impairmentIntangible assets with a finite life are amortised on a straight-line basis in relation to their useful life and reviewed for impairment whenever events or circumstances indicate that the carrying amount may not be recoverable. The amortisation period of intangible assets with a finite life is reviewed at least at the end of every financial year in order to ascertain any changes in their useful life, which, if identified, will be treated as changes in estimates.Other intangible assets with indefinite and definite life contain distribution rights and key money, the latter tested for impairment leveraging on a specialised third-party expert opinion connected to real estate assets. Software amortisation rate is 20%. Intangible assets with indefinite life impairment testGoodwill, brands and other intangible assets with an indefinite life are not amortised and are reviewed for impairment tests every year or more frequently if there is any indication that the asset may be impaired. The annual approval of the impairment test results is performed by the Board of Directors of Davide Campari-Milano N.V., which takes place before the approval of the annual financial reports (consolidated and Company only). The ability to recover assets is ascertained by comparing the carrying amount to the related recoverable value, which is represented by the higher of the fair value less cost of disposal, and the value in use.In the absence of a binding sale agreement, the fair value is estimated on the basis of recent transaction values in an active market, or based on the best information available to determine the amount that could be obtained from selling the asset. The value in use is determined by discounting expected cash flows resulting from the use of the asset, and, if significant and reasonably determinable, the cash flows resulting from its sale at the end of its useful life. Cash flows are determined on the basis of reasonable, documented assumptions representing the best estimate of the future economic conditions that will occur during the remaining useful life of the asset, with greater weight given to external information. Growth rate assumptions are applied to the years beyond the business plan horizon. The discount rate applied takes into account the implicit risk of the business segment.When it is not possible to determine the recoverable value of an individual asset, the Group estimates the recoverable value of the cash-generating unit to which the asset belongs.Impairment loss is recorded if the recoverable value of an asset is lower than its carrying amount by posting the related cost in the statement of profit or loss and is charged to other operating expenses. Goodwill impairments   can no longer be written back.Impairment test In line with prior years, the approval of the Group\u2019s annual assessment of the recoverability of intangible assets with an indefinite useful life was completed prior to the 2025 year\u2011end. Accordingly, the carrying amount of such intangible assets, i.e., the amount at which the assets are recognised in the Group\u2019s Consolidated Statement of Financial Position, was determined as at 30 September 2025, representing the most recent actual data available at the time of the assessment. The outcomes of the impairment tests remained valid as at 31 December 2025, as no events or indicators of impairment arose during the fourth quarter of 2025 that would suggest a material reduction in either the carrying amounts or the recoverable amounts of the assets.Consistent with previous years, the Group considered the business plan, including the 2026 budget and 2027-2028 strategic plans (drafted by the Group\u2019s companies in 2025 and approved by the Board of Directors of Davide Campari-Milano N.V.), as the basis of the annual impairment test. Moreover, cash flow projections are extrapolated beyond the plan period covered to be adapted for a ten-year period, with growth rates gradually normalising towards the level of the perpetuity growth rate. The use of a ten-year period is justified by the long lifecycle of the brands with respect to the reference markets, and it also takes into account the long ageing process of certain brands. Assumptions of future cash flows were made based on the conservative approach, in terms of both expected growth rates and operating margin trends. In addition, projections were based on reasonableness, prudence and consistency regarding the allocation of future selling, general and administrative expenses, trends in capital investment, conditions of financial equilibrium and the main macroeconomic variables. Cash flow projections relate to current operating conditions and therefore do not include cash flows connected with extraordinary events that are not currently foreseeable.Regarding climate-related matters, the business plan considered the necessary investments to pursue the Group\u2019s global sustainability strategy, including the path to decarbonisation based on challenging and ambitious medium- and long-term environmental targets committed. Such investments were taken into account also in long horizon (i.e., in the terminal value). Regarding currencies, it should be noted that the projections were determined based on the exchange rates to \u20ac, assumed unchanged to the ones used for drafting the 2026 budget. Although applicable IFRS principles require that exchange rates are assumed flat to the current fiscal year over the time horizon, the fluctuations of 2026 budgeted currencies are estimated not to have a meaningful impact on future cash flows.Goodwill values were tested at the aggregate level based on the values allocated to the three cash\u2010generating units ('CGUs'), i.e., EMEA CGU, Americas CGU, and Asia-Pacific CGU, in line with the Group\u2019s geographical segment reporting. This structure reflects the lowest level at which goodwill is monitored by the Group and is considered appropriate, given the synergies and efficiencies obtained at regional level based on its current organisational structure.The allocation of goodwill for each CGU is based on the previous allocation values, adjusted to consider the exchange rate effects and other variations such as perimeter change. The carrying amounts of the CGUs were determined by combining the goodwill, the brand values allocated based on the profitability achieved by the brand in each CGU, as well as the fixed assets and working capital, which were mainly allocated based on the relevant sales achieved in each CGU. The recoverable amounts of the CGUs were determined based on the \u2018value in use\u2019 methodology. The asset value is measured by discounting the estimated future cash flows generated by the continued use of such asset. Expected cash flows, which were based on the Group\u2019s cash flow estimates, were discounted using a post\u2010tax discount rate, reflecting both the time value of money and a further adjustment to include the market risk and the specific risks for the business of the relevant CGU. In the impairment test performed, it has been verified that the use of a post-tax approach provides consistent results with the ones which would have been obtained by adopting a pre-tax approach.The main assumptions used in calculating the value in use of the CGUs are the long-term growth rates and discount rates. Terminal value was determined using the perpetuity growth method of discounting. Specifically, a conservative perpetual growth rate was used that corresponds to the estimated inflation rates of the consumer price for the period 2026\u20102030 for the Group\u2019s key markets (source: IMF, October 2025 release), assumed to be 2.2% for the EMEA CGU, 2.9% for the Americas CGU and 2.4% for the Asia-Pacific CGU or 2.5% for the Group overall. The value in use of the CGUs was calculated by discounting the estimated value of future cash flows, including the terminal value, which it is assumed will derive from the continuing use of the assets, at a discount rate (net of taxes and adjusted for risk) that reflects the average weighted cost of capital. Specifically, the discount rate used was the Weighted Average Cost of Capital (\u2018WACC\u2019), which depends on the risk associated with the estimated cash flows. The WACC was determined based on observable indicators and market parameters, the current value of money and the specific risks connected with the business of the relevant CGU. The calculation of WACC was in line with a set of spirits industry comparable peers. The discount rates used in the 2025 impairment test for the three CGUs, are as follows: 7.0% for the EMEA CGU, 8.9% for the Americas CGU and 6.6% for the Asia-Pacific CGU, or 7.8% for the Group overall (decreased by approximately 30 basis points compared with the 2024 impairment test). To take into account the current market volatility and uncertainty over future economic prospects, sensitivity analyses were carried out to assess the recoverability of goodwill value. Based on the methodology described above, the impairment test for goodwill as of 31 December 2025 confirmed the full recoverability, including sensitivity, of all the CGUs with sufficient headroom to exclude goodwill impairment losses that may arise from meaningful business downside risks.at 31 December 2025at 31 December 2024 CGU \u20ac million \u20ac million Americas 1,299.3 1,464.1 EMEA 866.6 885.9 Asia-Pacific 67.6 70.1 Total 2,233.4 2,420.1 Changes in goodwill values at 31 December 2025 compared with 31 December 2024 , are primarily attributable   to exchange rate effects of \u20ac147.0 million, driven by the weakening of the US dollar against the Euro. Additionally, there was a negative perimeter effect equal to \u20ac23.0 million in connection with the divestments of Cinzano and Frattina proportionally allocated to the three CGUs based on the brands\u2019 profitability, as well the disposal of the Derrimut plant in Australia.In addition, a separate impairment test was conducted to measure the capability of each brand to sustain its value using the value in use criteria. As the Group does not manage selling, general and administrative costs at brand level, the brand\u2019s profitability is measured taking into consideration the allocated costs incurred on a global scale and across geographies. For the brand valuation, the Group uses the Multi\u2010period Excess Earnings Method ('MEEM') valuation, a widely accepted valuation methodology in practice for determining the brands' fair value. The \u2019value in use\u2019 methodology is considered valid, assuming that the identification of a representative sample of comparable transactions is not easily available across the different types of assets.MEEM is an earnings\u2010based valuation method. The theoretical premise of the MEEM is that the value of a brand is equal to the current value of the residual cash flows attributable to the asset analysed. According to this method, the relevant earnings attributable to the intangible asset are calculated using the income that the company would record after having deducted the earnings attributable to all the other assets (contributory asset charge), i.e. deducting from the company\u2019s results the remuneration for using other assets that contribute to the generation of such results. Estimates of income flows generated by individual brands, net of contributory asset charge, and of the terminal value, discounted to present value using an appropriate discount rate, were used to calculate the recoverable value of brands. Consistent with the impairment test on goodwill, a 10-year cash projection was developed for the brand impairment test. In the case of The GlenGrant single malt Scotch whisky, a 15-year time horizon was adopted, in line with previous years. The use of a fifteen-year time horizon is justified by the long-term effect of the brand ageing strategy, a commonly implemented market practice for premium spirits players. The discount rates used for the individual brands tested varied from 7.9%% to 8.8% and took into account a specific risk premium for the brand in question. To determine the terminal value of each brand, a perpetual growth rate between 2.3% and 2.5%, in line with the inflation estimates for the 2026-2030 period, was used. The impairment test as of 2025 has indicated impairment losses, for an aggregated amount of \u20ac67.4 million, for the brands of Cabo Wabo, Forty Creek and Wilderness Trail Distillery. The losses reflect the persisting weak   performance of the brands, driven by challenging market, industry, and category dynamics, as well as Campari Group\u2019s strategic decision to focus on key priority brands. Such loss was mainly attributable to the Americas CGU in line with the geographic distribution of brand profitability. Excluding the aforementioned brands, the sensitivity analyses indicated impairment risks for the brands of Grand Marnier, The GlenGrant, Bulldog, Picon, and Courvoisier. Considering a theoretical increase of WACC by +100 bps and decrease of the growth rate (\u2018g\u2019) by -100 bps, the combined theoretical impairment risk for the above-mentioned brands, excluding the impairment loss already registered for the year, would be \u20ac178.0 million. The Group will closely monitor the future development of these brands and carefully assess the recoverability of their brand values.at 31 December 2025 2024 \u20ac million \u20ac million Grand Marnier 300.7 300.7 Courvoisier 189.2 189.2 Wild Turkey 155.4 175.8 Picon 123.6 123.6 The GlenGrant and Old Smuggler 88.8 88.8 Jamaican Rum Portfolio 83.3 96.2 Frangelico 54.0 54.0 Forty Creek 47.0 59.5 Bulldog 26.2 27.6 Cabo Wabo 17.2 46.0 Averna(1)- 53.3 Braulio12.2 12.2 Riccadonna 11.3 11.3 Del Professore 6.4 6.4 Wilderness Trail 3.0 40.9 X-Rated Fusion Liqueur(2)- 2.3 Other 26.0 27.0 Total 1,144.3 1,314.8 (1) The amount as at 31 December 2025 was reclassified as an asset held for sale during the year.(2) Asset with finite life. The brand value amortised over a timeframe of 10 years until 2025. v.\u00a0  Share-Based PaymentsAccounting policy-\u00a0   Compensation plans in the form of stock optionsThe Group has multiple incentive plans in place, including benefits in the form of stock option plans, governed in accordance with the shareholders\u2019 resolution, pursuant to applicable law and implemented by means of a   specific regulation (\u2018Stock Option Regulations\u2019). The purpose of the plan is to offer beneficiaries, who occupy key positions in the Group the opportunity to own shares in Davide Campari-Milano N.V., thereby aligning their interests with those of other shareholders and fostering loyalty, in the context of the strategic goals to be achieved. The recipients are employees, directors and/or individuals who regularly work for one or more Group companies, who have been identified by the Board of Directors of Davide Campari-Milano N.V., and who, on the approval date of the plan and until the date that the options are exercised, have worked as employees and/or   directors and/or in any other capacity at one or more Group companies without interruption. The Board of Directors of Davide Campari-Milano N.V. has the right to draft regulations, select beneficiaries and determine   the share quantities and values for the execution of the stock option plans.The fair value of stock options is represented by the value of the option calculated by applying the Black- Scholes model, and the grant date starts once the options are assigned. Volatility is estimated with the help of data supplied by a market information provider together with a leading bank, and corresponds to the estimate of volatility recorded in the period covered by the plan. The stock options are recorded at fair value with an offsetting entry in the stock option reserve. The dilutive effect of options not yet exercised is included in the calculation of diluted earnings per shareConsidering the transition to the new Long-Term Incentive Plan described below, no stock options have been granted during 2025.The average remaining life of outstanding options at 31 December 2025  was 1.9 years (2.7 years  at 31 December 2024).Accounting policyShare-based payments in the form of the Employees Share Ownership Plan ('ESOP') and Mid-Term Incentive Plan (\u2018MTI\u2019)The Shareholders\u2019 Meeting of 8 April 2021 approved the resolution for the implementation of the Employee Share Ownership Plan (\u2018ESOP\u2019). ESOP is a share matching plan offering employees the opportunity to invest in Davide Campari-Milano N.V. shares. The ESOP is intended for all Group employees, with the exception of   members of the Board of Directors. These employees will be offered the opportunity to allocate certain amounts to the plan, which will be used to purchase shares of Davide Campari-Milano N.V. (the \u2018Purchased Shares\u2019) by the plan administrator and, after a three-year vesting period, complementary free shares will be awarded. The free shares granted represent an equity-settled arrangement. The accounting treatment for the ESOP follows the accounting treatment applied for benefits granted in the form of stock option plans. The fair value of the ESOP Plan is represented by the value of the option calculated by   applying the Black-Scholes model. In the event that the granting of the benefit in the form of a share-based scheme is not permitted or it is not effective on the basis of specific national legislation, the same benefits are granted in the form of a phantom stock option plan. These plans confer the same rights as the ESOP but are cash-settled and the initial fair value measurement is calculated by applying the Black-Scholes model. The cost resulting from this valuation is spread over the vesting period, with an impact on the profit or loss using a long-term liability offsetting account (instead of an equity reserve). As a subsequent measurement, at each balance sheet date and at least once a year and on the settlement date, the value of the phantom plan must be fully   remeasured on the basis of the current market value of the Davide Campari-Milano N.V. shares. Any cumulative changes in fair value are recognised in the profit or loss in the remeasurement period to align the liability with the \u2018pro-rata\u2019 value of the expected bonus payment payout. On 13 April 2022, the Annual General Meeting approved a Mid-Term Incentive Plan (\u2018MTI\u2019) based on Campari shares and aimed at rewarding Camparistas for their active participation in the Group performance and fostering their retention. Eligible Camparistas will be granted a right to receive a number of Campari shares for free,   subject to their uninterrupted employment over a three-year vesting period from the grant date. The number of award rights to be granted to each beneficiary will be calculated based on the beneficiary\u2019s annual base gross salary as of 31 December preceding the grant date. The MTI Plan approved in April 2022 foresees 3 grants for the following three years.The ESOP and MTI information documents, drafted in accordance with applicable legislation, are available on the Company\u2019s website: www.camparigroup.com/en/page/group/governance.The following assumptions were used for the weighted average fair value measurement of the ESOP plan for complementary free share assignment in the twelve months ended 31 December 2025 and 31 December 2024.   The weighted average fair value for complementary free shares assigned in 2025 was \u20ac6.06 (\u20ac9.09 in 2024).Black-Scholes - model parameters at 31 December 2025 at 31 December 2024 Expected dividends (\u20ac) 0.065 0.065 Expected volatility (%) 225.09%199.74%Historic volatility (%) 31.48%24.00%Market interest rate 2.18%2.75%Expected option life (years) 3 3 Accounting policyShare-based payments in the form of Long-Term Incentive Plan (\u2018LTI\u2019)The General Meeting of 11 April 2024 approved a Remuneration Policy that entitles key management personnel and senior employees to receive Long-Term Incentive Plans. The plans entitle eligible Camparistas to receive a number of Campari shares for free, subject to their uninterrupted employment over a contractually defined vesting period from the grant date (Restricted Stock Units or \u2018RSU\u2019) and a number of Campari shares for free, subject to the achievement of Campari Group\u2019s performance conditions (Performance Stock Units or \u2018PSU\u2019) to be achieved over the vesting period. The performance conditions are both market conditions represented by the relative Total Shareholders\u2019 Return (\u2018TSR\u2019) and non-market conditions represented by renewable energy targets. The fair value of these plans has been measured based on the following: for RSU the number of award rights to be granted to each beneficiary is calculated based on the beneficiary\u2019s annual base gross salary as of 31   December preceding the grant date; for PSU the fair value has been measured using a stochastic or Black-Scholes method, where service and non-market conditions attached to the agreements were not taken into   account in measuring fair value.The following assumptions were used for the fair value measurement of PSU assigned during the year 2025, in connection with LTI plans for Lead Team.Black-Scholes and stochastic method - model parameters at 31 December 2025at 31 December 2024 Expected dividends yield (%) 1.14%0.71%Expected volatility (%) 27.55%22.46%Historic volatility (%) 34%24%Market interest rate 2.21%3.30%Expected option life (years) 3.00 7.55 i.\u00a0  Provisions for Risks, Charges and Contingent Assets and LiabilitiesAccounting policyProvisions arising from legal or constructive obligations resulting from past events are reliably estimated and reviewed periodically to reflect changes in circumstances, timescales and discount rates. Revisions to estimates of provisions are booked to the same statement of profit or loss item that contains the accrual, or, if the liability relates to tangible assets (i.e., dismantling and restoration), these revisions are reported as an offsetting entry to the related asset. Where the financial impact of the timing is significant and the payment dates of the obligations can be reliably estimated, the provision is discounted to present value. The related amount over time is allocated to the statement of profit or loss. When the Group expects that all or part of the provisions will be repaid by third parties, a receivable is recorded under assets only if it is virtually certain and the accrual and related repayment are posted to the statement of profit or loss.Dedicated restructuring provisions are only reported if there is a restructuring obligation deriving from a formal detailed restructuring program, which has led to a reasonable expectation by interested parties that the restructuring will be carried out with an outflow of resources whose amount can be reliably estimated, either because the process has already started or because the main features of the restructuring program have already been communicated.For detailed information on the accounting policy related to tax provisions, refer to note 3 xiii-\u2018Taxation\u2019.\u00a0  The Group may be involved in legal proceedings, in respect of which it is not possible to make a reliable estimate of any expected settlement. Such cases are reported as contingent liabilities with a specific disclosure made available for information purposes. The Group discloses purely contingent assets and provides information when there are material amounts that are highly likely to be realised. The Group records the relevant asset only when the original uncertainty relating to it no longer applies and it is virtually certain that the asset will be realised.iii.\u00a0  Fair Value Information on Assets and LiabilitiesAccounting policyFair value on financial assets and liabilitiesFor fair value information on financial assets and liabilities, please refer to note 6 i-\u2018Financial instruments\u2019. Fair value on biological assets The Group\u2019s biological assets include grapes for champagne production, sugar cane plantations for rum production and agave for tequila/mezcal production, which are used as raw materials for the production of those spirits. Grapevines remain classified as fixed biological assets valued at cost, net of accumulated depreciation and accumulated impairment losses. Immature vines are stated at accumulated cost. Capitalisation of costs ceases   when the vines reach maturity. Depreciation commences when the grapevines are considered mature, which is when they produce their first commercially viable crop. Grapes growing on the plant are immediately classified as biological inventory since agricultural output covers a one-year period and the harvest is expected to occur in the second half of the year. Taking into account the biological and vegetative cycle, all the costs incurred in anticipation of the future harvest (services, products and other ancillary costs) are considered as inventory in current biological assets at the reporting date, at a value that is in line with the fair value of the growing grapes   based on available information on commodities markets.Sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated depreciation and accumulated impairment losses up to the harvest, which occurs from February to June. At harvest time, the agricultural output that covers a one-year period is classified as an inventory item at a value estimated based on the costs of infrastructure, land preparation and sugar cane cultivation, with reference to an active market for comparable plantations and similar output in terms of age and qualitative characteristics, if   available.Agave plantations remain classified as fixed biological assets valued at cost, net of accumulated depreciation and accumulated impairment losses. The vegetative cycle for the ripening of the agave fruit is approximately six years. During this period, the agave plants have not yet matured to be used for distillation purposes but can theoretically be sold as medium-aged plants. Agave cannot be distinguished from planting and can only be harvested once. The value of the growing product is represented as biological inventory and the reported fair value is estimated on the basis of the costs of infrastructure, soil preparation and agave cultivation, in the absence of an active reference market for comparable plantations and similar productions in terms of age and qualitative characteristics.The following biological assets are not measured at fair value, and consequently are not represented in this disclosure section:-\u00a0   grapevines and agave plantations which remain classified as fixed biological assets valued at cost, net of accumulated depreciation and accumulated impairment losses,-\u00a0   sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated depreciation and accumulated impairment losses, up to the annual harvest.Fair value measurement of current biological assets in inventory (agricultural produce: agave, grapes and sugar) is determined based on the sale price net of estimated sales costs, if available, or having as the main reference the total production costs in case the agricultural product is so peculiar that there is an absence of any active reference market for comparable plantations and similar output in terms of age and qualitative characteristics.",
   "dimensions": {
    "concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-439": {
   "value": "<div class=\"ps20082 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Principles of Control and Consolidation<span id=\"i921f898eafd94c6ba0764a22f89e2c83\"></span></span></div><div class=\"ps20083 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:95.88pt\">Principles of control<span id=\"ia50511d7696d4bbf8f1a6ae08e2497fa\"></span></span></div><div class=\"ps1204 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">Control is determined when the Group is exposed to or has a right to variable returns resulting from its</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1205 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">involvement with the investee, and, at the same time, has the ability to use its power over the investee to affect</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1206 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:61.1pt\">these returns.</span></div><div class=\"ps1207 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:278.6pt\">Specifically, the Group controls a business if, and only if, it has:</span></div><div class=\"ps1208 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.95pt\">power over the investee (or holds valid rights that give it the actual ability to manage significant activities of</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1209 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:59.99pt\">the investee);<span class=\"f ps21\"> </span></span></div><div class=\"ps1210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:374.91pt\">exposure or rights to variable returns resulting from its involvement with the investee;</span></div><div class=\"ps1211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:329.68pt\">the ability to use its power over the investee to affect the size of its returns.</span></div><div class=\"ps1212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Generally, control is assumed to exist when the Group possesses a majority of the voting rights. In support of</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps25 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">this assumption and when the Group holds less than the majority of the voting rights (or similar rights), the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps26 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Group considers all relevant facts and circumstances in assessing whether it controls the investee, including</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps27 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">contractual arrangements with other holders of voting rights, rights arising from contractual arrangements, and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps28 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:227.55pt\">the Group\u2019s voting rights and potential voting rights.</span></div><div class=\"ps29 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The Group reassesses whether or not it controls a subsidiary if facts and circumstances indicate that one or</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps30 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">more of the three significant elements defining control have changed. Consolidation of a subsidiary begins when<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps31 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">the Group obtains direct or indirect control of that subsidiary (or through one or more other subsidiaries) and</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps32 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">ceases when the Group loses control therefrom. The assets, liabilities, revenues and costs of the subsidiary</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps33 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">acquired or disposed of over the year are included in the Consolidated Financial statements from the date on</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps34 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">which the Group obtains control until the date on which the Group no longer exercises control over the</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps35 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:42.6pt\">company.</span></div><div class=\"ps36 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Changes in investments in subsidiaries that do not result in acquisition or loss of control are recorded as</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps37 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:142.24pt\">changes in shareholders\u2019 equity.</span></div><div class=\"ps38 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">If the Group loses control of a subsidiary, the related assets (including goodwill), liabilities, non-controlling</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps39 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">interests and other components of shareholders\u2019 equity are derecognised, while any gain or loss is recognised</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps40 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:406.55pt\">in the statement of profit or loss. Any ownership interest maintained is recorded at fair value.</span></div><div class=\"ps20084 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:127.04pt\">Principles of consolidation<span id=\"i12ee6f5ae588463eb48d58ae255b4b03\"></span></span></div><div class=\"ps18173 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">The Consolidated Financial statements include the financial statements of the Parent Company and of the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps18174 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Italian and foreign subsidiaries. All subsidiaries are consolidated on a line-by-line basis. The carrying amount of</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps18175 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">the investments in subsidiaries is derecognised against the corresponding portion of the shareholders\u2019 equity of</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps18176 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">the subsidiaries. At the first consolidation stage, individual assets and liabilities are measured at fair value in the</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps12992 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">context of the purchase price allocation at the date control was acquired. Any residual positive difference in the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps11565 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">allocation is recorded under the asset item \u2018goodwill\u2019, and any negative amount is allocated to the statement of</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:57.19pt\">profit or loss.</span></div><div class=\"ps12994 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The subsidiaries\u2019 financial statements are based on the same financial year as the Parent Company and drawn</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps12995 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">up for the purposes of consolidation. When necessary, appropriate adjustments are made to subsidiaries\u2019</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps12999 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">financial statements to bring them into line with the Group\u2019s accounting policies. Joint-ventures are measured by</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps13001 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:122.22pt\">applying the equity method.</span></div><div class=\"ps13002 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">When preparing the Consolidated Financial statements, unrealised gains and losses resulting from intra-group</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1867 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">transactions are derecognised, as are the entries giving rise to payables and receivables, and costs and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps13004 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">revenues between the companies included in the basis of consolidation. All intra-group assets and liabilities,</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps13005 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">shareholders\u2019 equity, revenues, costs and cash flow relating to transactions between Group entities are fully</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps13006 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">derecognised on consolidation. All remaining assets and liabilities, expenses and revenues of the subsidiaries<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps13007 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">are fully reflected in the Consolidated Financial statements. Unrealised gains and losses generated on<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps13008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">transactions with joint-ventures are derecognised to the extent of the Group\u2019s percentage interest in those</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps13009 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:355.58pt\">companies. Dividends collected from consolidated companies are derecognised.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">The profit (loss) for the year and all other components of the statement of other comprehensive income are</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">attributed to the shareholders of the Parent Company and to non-controlling interests, even if this results in non-<span class=\"f ps21\"> </span></span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">controlling interests having a negative value. Non-controlling interests in shareholders\u2019 equity and related results</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:354.94pt\">are reported under the appropriate line items in the primary financial statements.</span></div><div class=\"ps20086 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:106.28pt\">Basis of consolidation<span id=\"i98247008acdf478690a08db6c7d05a73\"></span></span><span class=\"f charStyle-562c451e ps20085\" style=\"width:3.05pt\"> </span></div><div class=\"ps20088 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The following change was made to the basis of consolidation, resulting from the acquisitions and reorganization</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps20090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:62.22pt\">of companies:</span><span class=\"f charStyle-d01d3980 ps20089\" style=\"width:3.33pt\"> </span></div><div class=\"ps20091 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">on 17 September 2025 Campari 612220 Ltd, previously named Campari New Zealand Limited, completed</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps20092 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:245.53pt\">the liquidation process in line with local applicable laws;</span></div><div class=\"ps20093 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">on 1 November 2025, Soci\u00e9t\u00e9 des Produits Marnier Lapostolle S.A.S. was merged within Campari France</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps20094 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.99pt\">S.A.S. with the aim of optimizing and streamlining the Group\u2019s structure. For statutory and tax purposes, the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps16941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:216.45pt\">effective date of the merger was 1 January 2025.</span></div><div class=\"ps20099 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:278.28pt\">The following tables list the companies included in the basis of </span><span class=\"f charStyle-58d8bcbe ps20096\" style=\"width:58.35pt\">consolidation</span><span class=\"f charStyle-58d8bcbe ps20097\" style=\"width:13.87pt\"> at </span><span class=\"f charStyle-58d8bcbe ps20098\" style=\"width:85.02pt\">31 December 2025</span><span class=\"f charStyle-58d8bcbe ps2489\" style=\"width:2.77pt\">.</span></div><div class=\"ps20232 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">name of company, activity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20218 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">registered office<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15574 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-ee7239d7 ps20219\">share capital at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-ee7239d7 ps11927\">2025</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12794 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-2977ca59 ps18668\">% owned by</span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-2977ca59 ps20222\">Davide Campari-Milano N.V.</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ee7239d7 ps20223\">indirect ownership <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ee7239d7 ps20224\">through<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20226 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20225\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20228 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20227\">amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20230 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20229\">direct<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20231 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps11966\">Indirect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:54.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2347 ss1589\"><div><div class=\"ps20101 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Davide Campari-Milano N.V., <span class=\"f ps21\"> </span></span></div><div class=\"ps13585 ss635\"><span class=\"f charStyle-183bdf94 ps132\">holding, trading and manufacturing </span></div><div class=\"ps20102 ss635\"><span class=\"f charStyle-183bdf94 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20105 ss1589\"><div><div class=\"ps20103 ss635\"><span class=\"f charStyle-40131897 ps132\">legal domicile: Amsterdam </span></div><div class=\"ps20101 ss635\"><span class=\"f charStyle-40131897 ps132\">(Netherlands)</span></div><div class=\"ps13585 ss635\"><span class=\"f charStyle-40131897 ps132\">corporate address: Via Franco </span></div><div class=\"ps20102 ss635\"><span class=\"f charStyle-40131897 ps132\">Sacchetti 20, 20099 Sesto San </span></div><div class=\"ps20104 ss635\"><span class=\"f charStyle-40131897 ps132\">Giovanni, Milan, Italy.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20108 ss1590\"><div><div class=\"ps20107 ss180\"><span class=\"f charStyle-ef51c266 ps20106\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20111 ss1590\"><div><div class=\"ps20107 ss180\"><span class=\"f charStyle-c6dd72c8 ps20109\">12,312,677</span><span class=\"f charStyle-c069816f ps20110\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td colspan=\"7\" style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1096 ss1591\"><div><div class=\"ps20112 ss49\"><span class=\"f charStyle-ee7239d7 ps12286\">Fully consolidated companies<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps14014 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps5110 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari International S.r.l., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps20113 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Via Franco Sacchetti 20, 20099 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Sesto San Giovanni; Milan, Italy</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps20116 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac700,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps20118 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps8618 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Mixology S.r.l., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20120 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Piazza Duomo 21, 20121 Milan, </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20122 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20121\">\u20ac68,880</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20123 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Europe and Africa<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Austria GmbH, trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20124 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Naglergasse 1/Top 13,1010 Wien, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Austria<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20125 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac500,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20126 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps10236 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Benelux S.A., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20127 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Rue aux Laines 68-72, 1000 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Bruxelles, Belgium<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20129 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac1,000,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps14614 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">61.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20130 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">38.99<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20131 ss513\"><div><div class=\"ps20115 ss18\"><span class=\"f charStyle-ef51c266 ps18053\">Glen Grant Ltd. 38.99%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps7047 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Deutschland GmbH, </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20132 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Adelgundenstr. 7 Munich, 80538 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Germany</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20133 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac5,200,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20134 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20135 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Espa\u00f1a S.L.U., holding </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20136 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Calle de la Marina 16-18, planta 29, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Barcelona, Spain</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20137 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac4,279,331</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20138 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps10085 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari RUS LLC, trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20139 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">115088, Moscow, 2nd <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Yuzhnoportovy proezd, 14/22, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Russia</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20142 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">RUB<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20144 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">210,000,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20145 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20147 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Schweiz A.G., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20148 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Lindenstrasse 8, 6341 Baar, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Switzerland</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20150 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">CHF<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20151 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">500,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20152 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2412 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Ukraine LLC, trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20153 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">8, Illinska Street, 5 Floor, block 8 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">and 9, Kiev, 4070 Ukraine</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20154 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">UAH<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20155 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">87,396,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20156 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">99.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20157 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">1.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20158 ss513\"><div><div class=\"ps20115 ss18\"><span class=\"f charStyle-ef51c266 ps8247\">Campari RUS LLC 1%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20159 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Glen Grant Ltd., manufacturing and </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20160 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Glen Grant Distillery, Elgin Road, <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Rothes, Morayshire, AB38 7BS, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">United Kingdom</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20161 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">GBP<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20162 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">164,949,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20163 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20164 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Hellas Single Member </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Societe Anonyme, manufacturing </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20165 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">6 and E Street, A\u2019 Industrial Area, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">38500 Volos, Greece</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20166 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac6,811,220</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20167 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20168 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari France S.A.S., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20169 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">14 rue Montalivet 75008 Paris, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20170 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps9116\">\u20ac263,298,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20172 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20173 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Bellonnie et Bourdillon </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Successeurs S.A.S., manufacturing </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20174 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Zone de G\u00e9nipa, 97224,</span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">Ducos, Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20176 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20175\">\u20ac15,100,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20177 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.83<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20181 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps20178\">Campari France <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps6493\">S.A.S.98.83%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20182 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Distilleries Agricole de Sainte Luce </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">S.A.S., agricultural production </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company </span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20183 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Zone de G\u00e9nipa, 97224,</span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">Ducos, Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20184 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac4,999,861</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20185 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.83<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20191 ss1596\"><div><div class=\"ps20187 ss18\"><span class=\"f charStyle-ef51c266 ps20186\">Bellonnie et Bourdillon <span class=\"f ps21\"> </span></span></div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps20188\">Successeurs S.A.S. </span></div><div class=\"ps20190 ss18\"><span class=\"f charStyle-ef51c266 ps20189\">100%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps19559 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">SCEA Trois Rivi\u00e8res, agricultural </span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">service company </span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20192 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">Zone de G\u00e9nipa, 97224,</span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">Ducos, Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20195 ss1598\"><div><div class=\"ps20194 ss1468\"><span class=\"f charStyle-ef51c266 ps20193\">\u20ac5,920</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20196 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.83<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20204 ss1600\"><div><div class=\"ps20197 ss18\"><span class=\"f charStyle-ef51c266 ps20186\">Bellonnie et Bourdillon <span class=\"f ps21\"> </span></span></div><div class=\"ps20199 ss18\"><span class=\"f charStyle-ef51c266 ps20198\">Successeurs S.A.S. 25%\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  </span></div><div class=\"ps20201 ss18\"><span class=\"f charStyle-ef51c266 ps20200\">Distilleries Agricoles de </span></div><div class=\"ps20203 ss18\"><span class=\"f charStyle-ef51c266 ps20202\">Sainte Luce S.A.S 75%</span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20205 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Champagne Lallier S.A.S., </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20206 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4 Place de la Lib\u00e9ration, 51160, Ay, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20207 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac5,000,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20208 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20211 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps5306\">Campari France S.A.S. <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20189\">100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20212 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Eric Luc, manufacturing and </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">property company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20213 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5 rue Ritterbandt, 51160, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Ay, France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20214 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac700,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20215 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">95.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20217 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps5306\">Campari France S.A.S. <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20216\">95%<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">name of company, activity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20218 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">registered office<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15574 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-ee7239d7 ps20219\">share capital at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-ee7239d7 ps11927\">2025</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12794 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-2977ca59 ps18668\">% owned by</span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-2977ca59 ps20222\">Davide Campari-Milano N.V.</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ee7239d7 ps20223\">indirect ownership <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ee7239d7 ps20224\">through<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20226 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20225\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20228 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20227\">amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20230 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20229\">direct<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20231 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps11966\">Indirect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2347 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Courvoisier S.A.S., manufacturing </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20105 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">2 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20108 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps9116\">\u20ac168,100,293</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20233 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20234 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps5306\">Campari France S.A.S. <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20189\">100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps3332 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">L. De Salignc &amp; CIE, trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20235 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">2 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20236 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac1,143,750</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20237 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20239 ss513\"><div><div class=\"ps20115 ss18\"><span class=\"f charStyle-ef51c266 ps20238\">Courvoisier S.A.S 100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps11246 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Distillerie Charentaise Jubert </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">S.A.S., manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20240 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">12 rue Guy Barat, 16120 <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Ch\u00e2teauneuf-Sur-Charente, France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20241 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac329,400</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20242 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20243 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps20238\">Courvoisier S.A.S 100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps8003 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">SCEA Domaine Guilloteau, </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">agricultural production company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20244 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">16 rue de la Croix, Les Basses <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Champagn\u00e8res, 16200 Les </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">M\u00e9tairies, France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20245 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20121\">\u20ac10,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20246 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">85.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20248 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps20247\">Courvoisier S.A.S 85%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps8335 ss1604\"><div><div class=\"ps1143 ss635\"><span class=\"f charStyle-40131897 ps132\">SICA Des Baronnies de Jarnac, </span></div><div class=\"ps1145 ss635\"><span class=\"f charStyle-40131897 ps132\">agricultural production company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20249 ss1604\"><div><div class=\"ps1143 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps1145 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20251 ss1605\"><div><div class=\"ps20250 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac116,720</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20252 ss1606\"><div><div class=\"ps20250 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">16.38<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20257 ss1607\"><div><div class=\"ps20254 ss18\"><span class=\"f charStyle-ef51c266 ps20253\">Courvoisier S.A.S 8.19%<span class=\"f ps21\"> </span></span></div><div class=\"ps20250 ss18\"><span class=\"f charStyle-ef51c266 ps9102\">Distillerie Charentaise <span class=\"f ps21\"> </span></span></div><div class=\"ps20256 ss18\"><span class=\"f charStyle-ef51c266 ps20255\">Jubert S.A.S. 8.19%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20258 ss1597\"><div><div class=\"ps10703 ss635\"><span class=\"f charStyle-40131897 ps132\">SICA Quinze des Borderies et </span></div><div class=\"ps10701 ss635\"><span class=\"f charStyle-40131897 ps132\">Champagnes, agricultural </span></div><div class=\"ps10704 ss635\"><span class=\"f charStyle-40131897 ps132\">production company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20259 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20260 ss1598\"><div><div class=\"ps20194 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac164,121</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20261 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">5.42<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20262 ss1600\"><div><div class=\"ps20197 ss18\"><span class=\"f charStyle-ef51c266 ps20253\">Courvoisier S.A.S 3.61%<span class=\"f ps21\"> </span></span></div><div class=\"ps20199 ss18\"><span class=\"f charStyle-ef51c266 ps9102\">Distillerie Charentaise <span class=\"f ps21\"> </span></span></div><div class=\"ps20201 ss18\"><span class=\"f charStyle-ef51c266 ps20255\">Jubert S.A.S. 1.81%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20263 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Association Coop\u00e9rative des </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Bouilleurs de Cru, agricultural </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">production company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20264 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">2 place Du Chateau, 16200 Jarnac <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20265 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac251,436</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20266 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">1.96<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20268 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps2687\">SCEA Domaine <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20267\">Guilloteau 2.30%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps7053 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari South Africa Pty Ltd., </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20269 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">2nd Floor ICR House Alphen Park, </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Constantia main road, Constantia, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">Western Cape 7806, South Africa</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20271 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20270\">ZAR<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20272 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">235,247,750<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20273 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20274 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Espa\u00f1a S.L.U.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps19385 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps13674 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari America, LLC, </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20275 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">1114 Avenue of the Americas, 19th <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Floor New York, 10036 United </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">States</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20276 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20277 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">626,321,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20278 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2708 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Wilderness Trail Distillery, LLC, </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">holding company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20279 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4095 Lebanon Road Danville, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Kentucky 40422 United States</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20280 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20282 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20281\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20283 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">70.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20284 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps14696\">Campari America LLC <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20216\">70%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps15818 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Wilderness Trace Distillery, LLC, </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20285 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4095 Lebanon Road Danville, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Kentucky 40422 United States</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20286 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20287 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20281\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20288 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">70.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20291 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps20289\">Wilderness Trail Distillery, <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20290\">LLC 100%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps4726 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Argentina S.A., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20292 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Tucuman, Piso 4 1107 Buenos </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Aires, Ciudad de Buenos Aires</span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">Argentina</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20293 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">ARS<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20297 ss1594\"><div><div class=\"ps20296 ss180\"><span class=\"f charStyle-b04ca002 ps20294\">1,179,665,930</span><span class=\"f charStyle-cb7d1392 ps20295\"><sup>(2)</sup></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20298 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.81<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20299 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">1.19<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20301 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps19613\">Campari do Brasil Ltda. <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20300\">1.19%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps13947 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari do Brasil Ltda., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20302 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Alameda Rio Negro 585, Edificio <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Demini, Conjunto 62, Alphaville-<span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Barueri-SP, Brasil<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20303 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">BRL<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20304 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">36,870,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20305 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">99.9999<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20306 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20281\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20308 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps8247\">Campari Schweiz A.G. <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20307\">0.0001%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps13958 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Mexico S.A. de C.V.,\u00a0 </span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20309 ss1597\"><div><div class=\"ps10703 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Avenida Americas 1500 Piso G-A <span class=\"f ps21\"> </span></span></div><div class=\"ps10701 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Colonia Country Club, Guadalajara, </span></div><div class=\"ps10704 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Jalisco, 44610 Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20311 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20313 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20312\">6,384,020,642<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20314 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20315 ss1600\"><div><div class=\"ps20197 ss18\"><span class=\"f charStyle-c6dd72c8 ps7974\">Campari Espa\u00f1a S.L.U. </span></div><div class=\"ps20199 ss18\"><span class=\"f charStyle-c6dd72c8 ps17811\">99.00% </span></div><div class=\"ps20201 ss18\"><span class=\"f charStyle-c6dd72c8 ps14959\">Campari America, LLC <span class=\"f ps21\"> </span></span></div><div class=\"ps20203 ss18\"><span class=\"f charStyle-c6dd72c8 ps20300\">1.00%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps19549 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Mexico Destiladora S.A. </span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">de C.V.</span><span class=\"f charStyle-85922b7e ps20316\"><sup>(3)</sup></span><span class=\"f charStyle-40131897 ps20317\">, manufacturing company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20318 ss1597\"><div><div class=\"ps10703 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Camino Real a Atotonilco No. 1081, <span class=\"f ps21\"> </span></span></div><div class=\"ps10701 ss635\"><span class=\"f charStyle-183bdf94 ps132\">La Trinidad, San Ignacio Cerro </span></div><div class=\"ps10704 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Gordo, Jalisco, Z.C. 47195, Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20319 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20320 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">10,100,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20321 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20327 ss1600\" style=\"overflow:hidden\"><div><div class=\"ps20322 ss18\"><span class=\"f charStyle-ef51c266 ps18582\">Campari Mexico, S.A. de <span class=\"f ps21\"> </span></span></div><div class=\"ps20324 ss18\"><span class=\"f charStyle-ef51c266 ps20323\">C.V. 99.99%</span></div><div class=\"ps20194 ss18\"><span class=\"f charStyle-ef51c266 ps14959\">Campari America, LLC <span class=\"f ps21\"> </span></span></div><div class=\"ps20325 ss18\"><span class=\"f charStyle-ef51c266 ps20300\">0.01%</span></div></div></div></td></tr><tr style=\"height:39pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20328 ss1608\"><div><div class=\"ps9448 ss635\"><span class=\"f charStyle-40131897 ps132\">Licorera Ancho Reyes y cia, </span></div><div class=\"ps9449 ss635\"><span class=\"f charStyle-40131897 ps132\">S.A.P.I. de C.V., manufacturing and </span></div><div class=\"ps9450 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20329 ss1608\"><div><div class=\"ps9448 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Paseo de los Tamarindos No. 90 <span class=\"f ps21\"> </span></span></div><div class=\"ps9449 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Edificio Arcos Bosques Torre II-Piso </span></div><div class=\"ps9450 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5C Col. Bosques de las Lomas, </span></div><div class=\"ps9451 ss635\"><span class=\"f charStyle-183bdf94 ps132\">05120, Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20330 ss1609\"><div><div class=\"ps18102 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20332 ss1609\"><div><div class=\"ps18102 ss180\"><span class=\"f charStyle-ef51c266 ps20331\">73,972</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20333 ss1609\"><div><div class=\"ps18102 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20337 ss1610\"><div><div class=\"ps20334 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Espa\u00f1a S.L.U. <span class=\"f ps21\"> </span></span></div><div class=\"ps18116 ss18\"><span class=\"f charStyle-ef51c266 ps17811\">99.99%<span class=\"f ps21\"> </span></span></div><div class=\"ps18102 ss18\"><span class=\"f charStyle-ef51c266 ps18582\">Campari Mexico, S.A. de <span class=\"f ps21\"> </span></span></div><div class=\"ps18117 ss18\"><span class=\"f charStyle-ef51c266 ps20335\">C.V. 0.01%</span></div></div></div></td></tr><tr style=\"height:36pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20338 ss1611\"><div><div class=\"ps2372 ss635\"><span class=\"f charStyle-40131897 ps132\">Casa Montelobos, S.A.P.I. de C.V., </span></div><div class=\"ps2374 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2377 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20339 ss1611\"><div><div class=\"ps2372 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Paseo de los Tamarindos No. 90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Edificio Arcos Bosques Torre II-Piso </span></div><div class=\"ps2377 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5C Col. Bosques de las Lomas, </span></div><div class=\"ps2378 ss635\"><span class=\"f charStyle-183bdf94 ps132\">05120, Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20340 ss1612\"><div><div class=\"ps18074 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20342 ss1612\"><div><div class=\"ps18074 ss180\"><span class=\"f charStyle-ef51c266 ps20341\">5,287,771.00</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20343 ss1612\"><div><div class=\"ps18074 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20346 ss511\"><div><div class=\"ps20344 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Espa\u00f1a S.L.U. <span class=\"f ps21\"> </span></span></div><div class=\"ps18085 ss18\"><span class=\"f charStyle-ef51c266 ps17811\">99.99%<span class=\"f ps21\"> </span></span></div><div class=\"ps18087 ss18\"><span class=\"f charStyle-ef51c266 ps18582\">Campari Mexico, S.A. de <span class=\"f ps21\"> </span></span></div><div class=\"ps20345 ss18\"><span class=\"f charStyle-ef51c266 ps20335\">C.V. 0.01%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20347 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Peru SAC, trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20348 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Av. Jorge Basadre No.607, oficina <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">702, distrito de San Isidro, Lima, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Peru</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20349 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">PEN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20351 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20350\">34,733,589</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20352 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20354 ss1596\"><div><div class=\"ps20187 ss18\"><span class=\"f charStyle-c6dd72c8 ps7974\">Campari Esp\u00e3na S.L.U. </span></div><div class=\"ps20141 ss18\"><span class=\"f charStyle-c6dd72c8 ps20353\">99.92%, Campari do </span></div><div class=\"ps20190 ss18\"><span class=\"f charStyle-c6dd72c8 ps6592\">Brasil Ltda. 0.08%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20355 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Forty Creek Distillery Ltd., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20356 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">297 South Service Road West, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Grimsby, ON L3M 1Y6 Canada</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20357 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">CAD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20358 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">105,500,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20359 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20360 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">J. Wray and Nephew Ltd., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20361 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">23 Dominica Drive, Kingston 5, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Jamaica</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20362 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">JMD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20363 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">750,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20364 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20365 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Esp\u00e3na S.L.U.<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">name of company, activity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20218 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">registered office<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15574 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-ee7239d7 ps20219\">share capital at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-ee7239d7 ps11927\">2025</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12794 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-2977ca59 ps18668\">% owned by</span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-2977ca59 ps20222\">Davide Campari-Milano N.V.</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ee7239d7 ps20223\">indirect ownership <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ee7239d7 ps20224\">through<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20226 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20225\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20228 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20227\">amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20230 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20229\">direct<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20231 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps11966\">Indirect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps2347 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Asia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20366 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari (Beijing) Trading Co. Ltd., </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20367 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Building 1, Level 5, Room 66, 16 <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Chaowai Avenue, Chaoyang </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">District, Beijing, China</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20368 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">CNY<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20369 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">261,896,430<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20370 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps4163 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Australia Pty Ltd., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20371 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Level 21, 141 Walker Street North <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Sydney, 2060, Australia</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20372 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">AUD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20373 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">56,500,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps14520 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:41.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps6443 ss1613\"><div><div class=\"ps9871 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari India Private Ltd., trading </span></div><div class=\"ps9872 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20374 ss1613\"><div><div class=\"ps9870 ss635\"><span class=\"f charStyle-40131897 ps132\">Regus Eversun Business Centre, </span></div><div class=\"ps9871 ss635\"><span class=\"f charStyle-40131897 ps132\">Level 5, Punj Essen House, 17 &amp; </span></div><div class=\"ps9872 ss635\"><span class=\"f charStyle-40131897 ps132\">18, Nehru Place, Delhi 110019, </span></div><div class=\"ps9873 ss635\"><span class=\"f charStyle-40131897 ps132\">India</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20377 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps20375\">INR<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20378 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">172,260<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20379 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20380 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">0.01<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20384 ss1615\"><div><div class=\"ps20381 ss18\"><span class=\"f charStyle-ef51c266 ps18414\">Campari Australia Pty <span class=\"f ps21\"> </span></span></div><div class=\"ps20383 ss18\"><span class=\"f charStyle-ef51c266 ps20382\">Ltd. 0.01%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps3361 ss1601\"><div><div class=\"ps9998 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari New Zealand Limited</span><span class=\"f charStyle-85922b7e ps20385\"><sup>(4)</sup></span><span class=\"f charStyle-40131897 ps20386\">, <span class=\"f ps21\"> </span></span></div><div class=\"ps2551 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20387 ss1601\"><div><div class=\"ps9998 ss635\"><span class=\"f charStyle-40131897 ps132\">Level 5, 60 Parnell Road, Parnell</span></div><div class=\"ps2551 ss635\"><span class=\"f charStyle-40131897 ps132\">Auckland CBD, 1010, New Zealand</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20389 ss1616\"><div><div class=\"ps20388 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">NZD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20390 ss1616\"><div><div class=\"ps20388 ss180\"><span class=\"f charStyle-ef51c266 ps7987\">5,180,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20391 ss1616\"><div><div class=\"ps20388 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20393 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ef51c266 ps18414\">Campari Australia Pty <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ef51c266 ps20392\">Ltd.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps10952 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Singapore Pte Ltd., </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20394 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">152 Beach Road, #24-06, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">1Gateway East, 189721, Singapore </span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20396 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20395\">SGD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20397 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">19,100,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps12870 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20398 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Korea Co. Ltd., trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20399 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5th Floor, 14 Samsung-ro 133-gil <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Gangnam-gu, Seoul, South Korea, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Songpa-gu, Seoul, Korea</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20400 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps18814\">KRW<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20401 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20312\">2,000,000,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20402 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20403 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps2758\">Glen Grant Ltd.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps962 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Japan Limited, trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20404 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">107-0062 Tokyo 1-1-1 Minami-<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Aoyama, Shin Aoyama Bldg West </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">6F, Minato-Ku Japan</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20405 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps6334\">JPY<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20406 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">100,000,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20407 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps20408 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:158.61pt\">The \u20ac12,312,677 represents ordinary share capital.</span></div><div class=\"ps20409 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:282.08pt\">The share capital does not include effects related to the hyperinflation accounting standard.</span></div><div class=\"ps20410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(3)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:57.8pt\"> Inactive company.</span></div><div class=\"ps20411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(4)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.55pt\"> Campari New Zealand Limited, trading company, was previously named Thirsty Camel Limited. Campari 612220 Ltd., previously Campari New Zealand</span><span class=\"f charStyle-40131897 ps413\" style=\"width:1.94pt\"> </span></div><div class=\"ps20412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:133.7pt\">Limited, was liquidated in September 2025.</span></div><div class=\"ps22384 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Acquisition and Sale of Businesses and Purchase of Non-Controlling Interests<span id=\"i8f33003f0e0242e4a7eb406f0ecf81d7\"></span></span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:477.92pt\">Definition of the business combination costs and shareholders\u2019 equity attributable to non-controlling interests</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">The cost of an acquisition is determined by the sum of the payments transferred as part of a business</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">combination, measured at fair value, on the acquisition date and at the value of the portion of shareholders\u2019<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">equity relating to non-controlling interests. Non-controlling interests relate to the portion of a consolidated</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">subsidiary shareholders\u2019 equity not directly or indirectly attributable to the Group. At the acquisition date,</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">components of non-controlling interests in the acquiree that are present ownership interests and entitle their</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:462.51pt\">holders to a proportionate share of the entity\u2019s net assets in the event of liquidation, are either measured:</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.03pt\">at the present ownership instruments\u2019 proportionate share in the recognised amounts of the acquiree\u2019s</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.97pt\">identifiable net assets, determined according to the rules set out by the accounting standard for business</span><span class=\"f charStyle-2293a859 ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:56.67pt\">combination;<span class=\"f ps21\"> </span></span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.42pt\">at fair value.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The designated methodology of measurement method of non-controlling interests is made for each business</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">combination on a transaction-by-transaction basis and is specified when the values deriving from the allocation</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:86.67pt\">process are shown.</span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">In the case of call options likely giving the acquirer present access to returns associated with the ownership</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">interest in the shares subject to the call, or in the case of put options granted to non-controlling interests giving</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">present access to the returns associated with the ownership interest in the shares subject to the non-controlling</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">interests put or in the case of a combination of both, it is assumed that the purchase will take place on the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">earliest possible date for the maximum number of shares and the business combination is accounted for as</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">though the acquisition is at 100% interest with the recognition of a financial liability at its fair value measured at</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">the present value of the expected cash outflow to be paid to the non-controlling shareholders at the expiry of the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">option as any contingent consideration; the liability is classified as a financial instrument and considered part of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">the acquisition consideration. Changes in the carrying amount of the financial liability are recognised in the</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.94pt\">statement of profit or loss.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">In the case of put option granted to non-controlling interests at the date of or after acquiring control of a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subsidiary, which does not provide a present ownership interest, the non-controlling interest is recognised on</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:41.67pt\">initial acq</span><span class=\"f charStyle-a0f5a13b ps22400\" style=\"width:454.54pt\">uisition and, under Group policy choice while the non-controlling interests put remains unexercised, the</span><span class=\"f charStyle-a0f5a13b ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps56\" style=\"width:263.3pt\">accounting at the end of each reporting period is as follows:</span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.98pt\">the amount that would have been recognised for the non-controlling interest value is determined by including</span><span class=\"f charStyle-a0f5a13b ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:402.16pt\">allocations of profit or loss, changes in OCI and dividends declared for the reporting period;</span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:336.6pt\">the non-controlling interest is derecognised as if it was acquired at that date;</span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.96pt\">a financial liability is recognised at the present value of the amount payable on exercise of the non-controlling</span><span class=\"f charStyle-a0f5a13b ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:57.2pt\">interests put;</span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:365.31pt\">the Group accounts for the difference between (b) and (c) as an equity transaction.</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">If the non-controlling interests put expires unexercised, the position is unwound so that the non-controlling</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:440.51pt\">interest is recognised at the amount it would have been as if the put option had never been granted.</span><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Shareholders\u2019 Equity Attributable to Non-Controlling Interests<span id=\"i6ddebcb4bc494d54b2188a174807a082\"></span></span></div><div class=\"ps1254 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">For accounting policy over non-controlling interests relating to the portion of a subsidiary\u2019s shareholders\u2019 equity</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">that is not directly or indirectly attributable to the Group, please refer to note 4 i \u2018Acquisition and sale of</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:238.34pt\">businesses and purchase of non-controlling interests\u2019.</span></div><div class=\"ps1266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure<span class=\"f ps21\"> </span></span></div><div class=\"ps1267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:257.19pt\">The changes during the year are reflected in the following </span><span class=\"f charStyle-58d8bcbe ps25712\" style=\"width:21.67pt\">table</span><span class=\"f charStyle-58d8bcbe ps25713\" style=\"width:2.77pt\">.</span></div><div class=\"ps10315 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:111pt\"></td><td style=\"padding:0;width:96pt\"></td><td style=\"padding:0;width:96pt\"></td><td style=\"padding:0;width:96pt\"></td><td style=\"padding:0;width:96pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss525\"><div><div class=\"ps2776 ss518\"><span class=\"f charStyle-183bdf94 ps132\">non-controlling interests<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss518\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25716 ss1897\"><div><div class=\"ps2776 ss1669\"><span class=\"f charStyle-183bdf94 ps25714\">Bellonnie et<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1669\"><span class=\"f charStyle-183bdf94 ps25715\">Bourdillon group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4586 ss1897\"><div><div class=\"ps979 ss1669\"><span class=\"f charStyle-183bdf94 ps25717\">Wilderness Trail Distillery<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25718 ss1897\"><div><div class=\"ps979 ss1669\"><span class=\"f charStyle-183bdf94 ps575\">Courvoisier Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18448 ss1897\"><div><div class=\"ps979 ss1669\"><span class=\"f charStyle-183bdf94 ps25719\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25721 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4595 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25723 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25724 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">net result<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25726 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25725\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4607 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25727\">(12.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25728 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25729 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25727\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">translation difference<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25730 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4617 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25727\">(19.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25731 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25732 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25727\">(19.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25733 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25720\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25734 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25720\">2.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25735 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25736 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25720\">2.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">reclassification to group net equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25737 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25739 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25738\">29.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25740 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25741 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25738\">29.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25742 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25743 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25744 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25745 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25799 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:111pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss877\"><div><div class=\"ps5026 ss518\"><span class=\"f charStyle-183bdf94 ps132\">non-controlling interests<span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss518\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25716 ss1373\"><div><div class=\"ps2578 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Bellonnie et<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Bourdillon <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss46\"><span class=\"f charStyle-183bdf94 ps132\">group</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1130 ss1373\"><div><div class=\"ps2578 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Ancho Reyes <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss46\"><span class=\"f charStyle-183bdf94 ps132\">and </span></div><div class=\"ps2580 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Montelobos</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25746 ss1373\"><div><div class=\"ps5026 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Trans <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Beverages</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16213 ss1373\"><div><div class=\"ps5026 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Trail Distillery</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1072 ss1373\"><div><div class=\"ps5026 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Thirsty Camel <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Ltd.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11961 ss1373\"><div><div class=\"ps5026 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Courvoisier <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Group</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps12796 ss1373\"><div><div class=\"ps13338 ss46\"><span class=\"f charStyle-183bdf94 ps132\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7726 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25747 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25748 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25749 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25750 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25751 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25752 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25753 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">1.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2968 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">net result<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25754 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25755 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25756 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25757 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(4.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15796 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25758 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps25759 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5727 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">translation difference<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25760 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25761 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25762 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25763 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6862\">10.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps15748 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25764 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25765 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6862\">10.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5196 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">perimeter effect for acquisition<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25766 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25767 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25768 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25769 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14022 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25770 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25771 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps924 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25772 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25773 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25774 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25775 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25776 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25777 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25778 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">2.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps928 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">dividends<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25779 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25780 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25781 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25782 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25783 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25784 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25785 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6443 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">reclassification to group net equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25786 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25787 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25788 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25789 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(7.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25790 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25791 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25792 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(3.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7572 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25793 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25794 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25795 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25796 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15751 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25797 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25798 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25816 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:201pt\"></td><td style=\"padding:0;width:81.75pt\"></td><td style=\"padding:0;width:106.5pt\"></td><td style=\"padding:0;width:106.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">Company name<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18720 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25800\">Country of business<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24382 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94 ps25801\">% of minority interest 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24384 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94 ps25801\">% of minority interest 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">Bellonnie et Bourdillon group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18726 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25802\">Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24961 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">1.17</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25805 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">3.47</span><span class=\"ps25804\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness Trail Distillery, LLC<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14475 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps23494\">United States<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25806 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">30.0</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25807 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">30.0</span><span class=\"ps25804\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">SCEA Domaine Guilloteau<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14483 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25808\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25809 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">15.0</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25810 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">15.0<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">SICA des Baronnies de Jarnac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14495 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25808\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25811 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">83.6</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25812 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">83.6<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">SICA Quinze des Borderies et Champagnes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14506 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25808\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25813 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">94.6</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25814 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">94.6<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">Association Coop\u00e9rative des Bouilleurs de Cru<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps14517 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25808\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps24987 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">98.0</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25815 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">98.0<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">The financial statements of the subsidiaries shown below are based on the same accounting standards applied</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps25820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:61.64pt\">for the Group.</span><span class=\"f charStyle-58d8bcbe ps25819\" style=\"width:2.77pt\"> </span></div><div class=\"ps25863 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:173.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td></tr><tr style=\"height:36pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1902\"><div><div class=\"ps1083 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">for the year ended 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8954 ss1903\"><div><div class=\"ps2374 ss618\"><span class=\"f charStyle-183bdf94 ps6491\">total non-controlling <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss618\"><span class=\"f charStyle-183bdf94 ps25822\">interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20844 ss1903\"><div><div class=\"ps2374 ss618\"><span class=\"f charStyle-183bdf94 ps14963\">Bellonnie et Bourdillon <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss618\"><span class=\"f charStyle-183bdf94 ps25823\">group</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25825 ss1903\"><div><div class=\"ps2374 ss618\"><span class=\"f charStyle-183bdf94 ps24724\">Wilderness Trail <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss618\"><span class=\"f charStyle-183bdf94 ps25824\">Distillery</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24097 ss1903\"><div><div class=\"ps1083 ss618\"><span class=\"f charStyle-183bdf94 ps23495\">Courvoisier Group<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps10737 ss1904\"><div><div class=\"ps485 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Net sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8985 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">85.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20861 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">20.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25828 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">2.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25829 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">64.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps1089 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Profit (loss) for the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25831 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25830\">(67.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps20871 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25832\">(11.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:1pt solid #000;padding:0\"><div class=\"ps25833 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25830\">(45.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:1pt solid #000;padding:0\"><div class=\"ps25835 ss1905\"><div><div class=\"ps485 ss618\"><span class=\"f charStyle-ba8ac8da ps25834\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps5494 ss1906\"><div><div class=\"ps1094 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Profit (loss) for the period <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">attributable to non-controlling interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25836 ss628\"><div><div class=\"ps473 ss618\"><span class=\"f charStyle-ba8ac8da ps25830\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps20885 ss628\"><div><div class=\"ps473 ss618\"><span class=\"f charStyle-ba8ac8da ps25834\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:1pt solid #000;padding:0\"><div class=\"ps25837 ss628\"><div><div class=\"ps473 ss618\"><span class=\"f charStyle-ba8ac8da ps25830\">(12.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt solid #000;padding:0\"><div class=\"ps25838 ss628\"><div><div class=\"ps473 ss618\"><span class=\"f charStyle-183bdf94 ps21514\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9031 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">218.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20896 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">54.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25840 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">43.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25841 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">52.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps9042 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">563.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25842 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">59.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25843 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">436.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25844 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps9054 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">140.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25845 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">32.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25846 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">14.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25847 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">44.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Non-current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps9067 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">8.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25848 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25849 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25850 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">8.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps6300 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Net assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25851 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">633.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25852 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">79.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25853 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">462.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25854 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps5134 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Net assets attributable to non-controlling interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25855 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25839\">156.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25856 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25857 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25839\">138.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;padding:0\"><div class=\"ps25858 ss1905\"><div><div class=\"ps485 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1907\"><div><div class=\"ps13336 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Of which represented as non-controlling interest <span class=\"f ps21\"> </span></span></div><div class=\"ps13337 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">in Campari Group statement </span></div><div class=\"ps13338 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">of changes in shareholders' equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25859 ss1908\"><div><div class=\"ps13338 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25860 ss1908\"><div><div class=\"ps13338 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25861 ss1908\"><div><div class=\"ps13338 ss618\"><span class=\"f charStyle-ba8ac8da ps21514\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25862 ss1908\"><div><div class=\"ps13338 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:173.25pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:48pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1907\"><div><div class=\"ps2579 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">for the year ended 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8954 ss1655\"><div><div class=\"ps2578 ss269\"><span class=\"f charStyle-183bdf94 ps25864\">total non-<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss269\"><span class=\"f charStyle-183bdf94 ps25865\">controlling </span></div><div class=\"ps2580 ss269\"><span class=\"f charStyle-183bdf94 ps25866\">interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps16234 ss1655\"><div><div class=\"ps2578 ss269\"><span class=\"f charStyle-183bdf94 ps25867\">Bellonnie et <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss269\"><span class=\"f charStyle-183bdf94 ps25868\">Bourdillon </span></div><div class=\"ps2580 ss269\"><span class=\"f charStyle-183bdf94 ps25869\">group</span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14807 ss1655\"><div><div class=\"ps2578 ss269\"><span class=\"f charStyle-183bdf94 ps25870\">Ancho <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss269\"><span class=\"f charStyle-183bdf94 ps4513\">Reyes and </span></div><div class=\"ps2580 ss269\"><span class=\"f charStyle-183bdf94 ps18328\">Montelobos</span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25872 ss1655\"><div><div class=\"ps2578 ss269\"><span class=\"f charStyle-183bdf94 ps25871\">Trans <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss269\"><span class=\"f charStyle-183bdf94 ps4513\">Beverages </span></div><div class=\"ps2580 ss269\"><span class=\"f charStyle-183bdf94 ps21376\">Co</span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25874 ss1655\"><div><div class=\"ps2578 ss269\"><span class=\"f charStyle-183bdf94 ps4264\">Wilderness <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss269\"><span class=\"f charStyle-183bdf94 ps4361\">Trail </span></div><div class=\"ps2580 ss269\"><span class=\"f charStyle-183bdf94 ps25873\">Distillery</span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25875 ss1655\"><div><div class=\"ps5026 ss269\"><span class=\"f charStyle-183bdf94 ps18373\">Thirsty <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss269\"><span class=\"f charStyle-183bdf94 ps25865\">Camel Ltd</span></div></div></div></td><td style=\"border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps13609 ss1863\"><div><div class=\"ps5026 ss655\"><span class=\"f charStyle-183bdf94 ps25876\">Courvoisier <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss655\"><span class=\"f charStyle-183bdf94 ps25877\">Group</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps2968 ss1904\"><div><div class=\"ps485 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Net sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25878 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4690\">112.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25879 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25880 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">7.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25881 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">21.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25882 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">31.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25883 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">19.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24227 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps11680\">35.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps5727 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Profit (loss) for the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25884 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24224\">(37.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25885 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24224\">(10.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25886 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(4.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25887 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25888 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(6.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25889 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(4.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;padding:0\"><div class=\"ps24235 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-ba8ac8da ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5196 ss1906\"><div><div class=\"ps1094 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Profit (loss) for the period <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">attributable to non-controlling interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25890 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25891 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25892 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25893 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25894 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(4.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25895 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24245 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps510 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25896 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">221.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25897 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">58.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25898 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">14.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25899 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">17.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25900 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">47.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25901 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">21.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25902 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps11680\">55.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps515 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25903 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">659.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25904 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">50.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25905 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">5.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25906 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25907 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">541.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25908 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">5.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25910 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps25909\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps8324 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25911 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">284.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25912 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">85.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25913 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">22.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25914 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">13.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25915 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps3320\">11.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25916 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">28.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25917 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps11680\">54.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps5120 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Non-current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25918 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps3320\">11.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25919 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">2.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25920 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25921 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25922 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">4.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25923 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25924 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps25909\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps3384 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Net assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25925 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">585.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25926 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">21.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25927 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(3.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25928 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">4.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25929 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">572.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25930 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(3.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;padding:0\"><div class=\"ps25931 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-ba8ac8da ps25909\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25932 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Net assets attributable to non-controlling interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25933 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps4615\">170.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25934 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps24301\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25935 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25936 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps24301\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25937 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps4615\">171.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25938 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25939 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-ba8ac8da ps25909\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20258 ss1907\"><div><div class=\"ps13336 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Of which represented as non-controlling interest <span class=\"f ps21\"> </span></span></div><div class=\"ps13337 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">in Campari Group statement </span></div><div class=\"ps13338 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">of changes in shareholders' equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25940 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps24301\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25941 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps24301\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25942 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps11724\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25943 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps11724\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25944 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps11724\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25945 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps11724\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25946 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-ba8ac8da ps25909\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25947 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">viii.\u00a0  Transactions with Non-Controlling Interests<span id=\"icc785a6017b746c0810a1d3eda4304f5\"></span></span></div><div class=\"ps1285 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:278.84pt\">There were no other transactions with non-controlling interests </span><span class=\"f charStyle-58d8bcbe ps25948\" style=\"width:143.89pt\">for the year ended 31 December</span><span class=\"f charStyle-58d8bcbe ps25949\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-58d8bcbe ps25950\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps25951\" style=\"width:2.77pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-438": {
   "value": "<div class=\"ps20082 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Principles of Control and Consolidation<span id=\"i921f898eafd94c6ba0764a22f89e2c83\"></span></span></div><div class=\"ps20086 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:106.28pt\">Basis of consolidation<span id=\"i98247008acdf478690a08db6c7d05a73\"></span></span><span class=\"f charStyle-562c451e ps20085\" style=\"width:3.05pt\"> </span></div><div class=\"ps20088 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The following change was made to the basis of consolidation, resulting from the acquisitions and reorganization</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps20090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:62.22pt\">of companies:</span><span class=\"f charStyle-d01d3980 ps20089\" style=\"width:3.33pt\"> </span></div><div class=\"ps20091 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">on 17 September 2025 Campari 612220 Ltd, previously named Campari New Zealand Limited, completed</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps20092 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:245.53pt\">the liquidation process in line with local applicable laws;</span></div><div class=\"ps20093 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">on 1 November 2025, Soci\u00e9t\u00e9 des Produits Marnier Lapostolle S.A.S. was merged within Campari France</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps20094 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.99pt\">S.A.S. with the aim of optimizing and streamlining the Group\u2019s structure. For statutory and tax purposes, the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps16941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:216.45pt\">effective date of the merger was 1 January 2025.</span></div><div class=\"ps20099 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:278.28pt\">The following tables list the companies included in the basis of </span><span class=\"f charStyle-58d8bcbe ps20096\" style=\"width:58.35pt\">consolidation</span><span class=\"f charStyle-58d8bcbe ps20097\" style=\"width:13.87pt\"> at </span><span class=\"f charStyle-58d8bcbe ps20098\" style=\"width:85.02pt\">31 December 2025</span><span class=\"f charStyle-58d8bcbe ps2489\" style=\"width:2.77pt\">.</span></div><div class=\"ps20232 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">name of company, activity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20218 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">registered office<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15574 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-ee7239d7 ps20219\">share capital at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-ee7239d7 ps11927\">2025</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12794 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-2977ca59 ps18668\">% owned by</span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-2977ca59 ps20222\">Davide Campari-Milano N.V.</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ee7239d7 ps20223\">indirect ownership <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ee7239d7 ps20224\">through<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20226 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20225\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20228 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20227\">amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20230 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20229\">direct<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20231 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps11966\">Indirect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:54.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2347 ss1589\"><div><div class=\"ps20101 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Davide Campari-Milano N.V., <span class=\"f ps21\"> </span></span></div><div class=\"ps13585 ss635\"><span class=\"f charStyle-183bdf94 ps132\">holding, trading and manufacturing </span></div><div class=\"ps20102 ss635\"><span class=\"f charStyle-183bdf94 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20105 ss1589\"><div><div class=\"ps20103 ss635\"><span class=\"f charStyle-40131897 ps132\">legal domicile: Amsterdam </span></div><div class=\"ps20101 ss635\"><span class=\"f charStyle-40131897 ps132\">(Netherlands)</span></div><div class=\"ps13585 ss635\"><span class=\"f charStyle-40131897 ps132\">corporate address: Via Franco </span></div><div class=\"ps20102 ss635\"><span class=\"f charStyle-40131897 ps132\">Sacchetti 20, 20099 Sesto San </span></div><div class=\"ps20104 ss635\"><span class=\"f charStyle-40131897 ps132\">Giovanni, Milan, Italy.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20108 ss1590\"><div><div class=\"ps20107 ss180\"><span class=\"f charStyle-ef51c266 ps20106\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20111 ss1590\"><div><div class=\"ps20107 ss180\"><span class=\"f charStyle-c6dd72c8 ps20109\">12,312,677</span><span class=\"f charStyle-c069816f ps20110\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td colspan=\"7\" style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1096 ss1591\"><div><div class=\"ps20112 ss49\"><span class=\"f charStyle-ee7239d7 ps12286\">Fully consolidated companies<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps14014 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps5110 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari International S.r.l., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps20113 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Via Franco Sacchetti 20, 20099 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Sesto San Giovanni; Milan, Italy</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps20116 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac700,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps20118 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps8618 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Mixology S.r.l., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20120 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Piazza Duomo 21, 20121 Milan, </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20122 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20121\">\u20ac68,880</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20123 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Europe and Africa<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Austria GmbH, trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20124 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Naglergasse 1/Top 13,1010 Wien, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Austria<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20125 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac500,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20126 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps10236 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Benelux S.A., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20127 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Rue aux Laines 68-72, 1000 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Bruxelles, Belgium<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20129 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac1,000,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps14614 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">61.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20130 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">38.99<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20131 ss513\"><div><div class=\"ps20115 ss18\"><span class=\"f charStyle-ef51c266 ps18053\">Glen Grant Ltd. 38.99%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps7047 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Deutschland GmbH, </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20132 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Adelgundenstr. 7 Munich, 80538 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Germany</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20133 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac5,200,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20134 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20135 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Espa\u00f1a S.L.U., holding </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20136 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Calle de la Marina 16-18, planta 29, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Barcelona, Spain</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20137 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac4,279,331</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20138 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps10085 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari RUS LLC, trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20139 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">115088, Moscow, 2nd <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Yuzhnoportovy proezd, 14/22, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Russia</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20142 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">RUB<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20144 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">210,000,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20145 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20147 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Schweiz A.G., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20148 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Lindenstrasse 8, 6341 Baar, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Switzerland</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20150 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">CHF<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20151 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">500,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20152 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2412 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Ukraine LLC, trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20153 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">8, Illinska Street, 5 Floor, block 8 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">and 9, Kiev, 4070 Ukraine</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20154 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">UAH<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20155 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">87,396,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20156 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">99.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20157 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">1.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20158 ss513\"><div><div class=\"ps20115 ss18\"><span class=\"f charStyle-ef51c266 ps8247\">Campari RUS LLC 1%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20159 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Glen Grant Ltd., manufacturing and </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20160 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Glen Grant Distillery, Elgin Road, <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Rothes, Morayshire, AB38 7BS, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">United Kingdom</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20161 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">GBP<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20162 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">164,949,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20163 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20164 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Hellas Single Member </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Societe Anonyme, manufacturing </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20165 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">6 and E Street, A\u2019 Industrial Area, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">38500 Volos, Greece</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20166 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac6,811,220</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20167 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20168 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari France S.A.S., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20169 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">14 rue Montalivet 75008 Paris, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20170 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps9116\">\u20ac263,298,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20172 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20173 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Bellonnie et Bourdillon </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Successeurs S.A.S., manufacturing </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20174 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Zone de G\u00e9nipa, 97224,</span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">Ducos, Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20176 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20175\">\u20ac15,100,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20177 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.83<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20181 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps20178\">Campari France <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps6493\">S.A.S.98.83%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20182 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Distilleries Agricole de Sainte Luce </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">S.A.S., agricultural production </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company </span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20183 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Zone de G\u00e9nipa, 97224,</span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">Ducos, Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20184 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac4,999,861</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20185 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.83<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20191 ss1596\"><div><div class=\"ps20187 ss18\"><span class=\"f charStyle-ef51c266 ps20186\">Bellonnie et Bourdillon <span class=\"f ps21\"> </span></span></div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps20188\">Successeurs S.A.S. </span></div><div class=\"ps20190 ss18\"><span class=\"f charStyle-ef51c266 ps20189\">100%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps19559 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">SCEA Trois Rivi\u00e8res, agricultural </span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">service company </span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20192 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">Zone de G\u00e9nipa, 97224,</span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">Ducos, Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20195 ss1598\"><div><div class=\"ps20194 ss1468\"><span class=\"f charStyle-ef51c266 ps20193\">\u20ac5,920</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20196 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.83<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20204 ss1600\"><div><div class=\"ps20197 ss18\"><span class=\"f charStyle-ef51c266 ps20186\">Bellonnie et Bourdillon <span class=\"f ps21\"> </span></span></div><div class=\"ps20199 ss18\"><span class=\"f charStyle-ef51c266 ps20198\">Successeurs S.A.S. 25%\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  </span></div><div class=\"ps20201 ss18\"><span class=\"f charStyle-ef51c266 ps20200\">Distilleries Agricoles de </span></div><div class=\"ps20203 ss18\"><span class=\"f charStyle-ef51c266 ps20202\">Sainte Luce S.A.S 75%</span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20205 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Champagne Lallier S.A.S., </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20206 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4 Place de la Lib\u00e9ration, 51160, Ay, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20207 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac5,000,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20208 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20211 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps5306\">Campari France S.A.S. <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20189\">100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20212 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Eric Luc, manufacturing and </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">property company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20213 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5 rue Ritterbandt, 51160, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Ay, France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20214 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac700,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20215 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">95.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20217 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps5306\">Campari France S.A.S. <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20216\">95%<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">name of company, activity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20218 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">registered office<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15574 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-ee7239d7 ps20219\">share capital at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-ee7239d7 ps11927\">2025</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12794 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-2977ca59 ps18668\">% owned by</span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-2977ca59 ps20222\">Davide Campari-Milano N.V.</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ee7239d7 ps20223\">indirect ownership <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ee7239d7 ps20224\">through<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20226 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20225\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20228 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20227\">amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20230 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20229\">direct<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20231 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps11966\">Indirect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2347 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Courvoisier S.A.S., manufacturing </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20105 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">2 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20108 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps9116\">\u20ac168,100,293</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20233 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20234 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps5306\">Campari France S.A.S. <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20189\">100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps3332 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">L. De Salignc &amp; CIE, trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20235 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">2 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20236 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac1,143,750</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20237 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20239 ss513\"><div><div class=\"ps20115 ss18\"><span class=\"f charStyle-ef51c266 ps20238\">Courvoisier S.A.S 100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps11246 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Distillerie Charentaise Jubert </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">S.A.S., manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20240 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">12 rue Guy Barat, 16120 <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Ch\u00e2teauneuf-Sur-Charente, France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20241 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac329,400</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20242 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20243 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps20238\">Courvoisier S.A.S 100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps8003 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">SCEA Domaine Guilloteau, </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">agricultural production company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20244 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">16 rue de la Croix, Les Basses <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Champagn\u00e8res, 16200 Les </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">M\u00e9tairies, France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20245 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20121\">\u20ac10,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20246 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">85.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20248 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps20247\">Courvoisier S.A.S 85%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps8335 ss1604\"><div><div class=\"ps1143 ss635\"><span class=\"f charStyle-40131897 ps132\">SICA Des Baronnies de Jarnac, </span></div><div class=\"ps1145 ss635\"><span class=\"f charStyle-40131897 ps132\">agricultural production company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20249 ss1604\"><div><div class=\"ps1143 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps1145 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20251 ss1605\"><div><div class=\"ps20250 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac116,720</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20252 ss1606\"><div><div class=\"ps20250 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">16.38<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20257 ss1607\"><div><div class=\"ps20254 ss18\"><span class=\"f charStyle-ef51c266 ps20253\">Courvoisier S.A.S 8.19%<span class=\"f ps21\"> </span></span></div><div class=\"ps20250 ss18\"><span class=\"f charStyle-ef51c266 ps9102\">Distillerie Charentaise <span class=\"f ps21\"> </span></span></div><div class=\"ps20256 ss18\"><span class=\"f charStyle-ef51c266 ps20255\">Jubert S.A.S. 8.19%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20258 ss1597\"><div><div class=\"ps10703 ss635\"><span class=\"f charStyle-40131897 ps132\">SICA Quinze des Borderies et </span></div><div class=\"ps10701 ss635\"><span class=\"f charStyle-40131897 ps132\">Champagnes, agricultural </span></div><div class=\"ps10704 ss635\"><span class=\"f charStyle-40131897 ps132\">production company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20259 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20260 ss1598\"><div><div class=\"ps20194 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac164,121</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20261 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">5.42<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20262 ss1600\"><div><div class=\"ps20197 ss18\"><span class=\"f charStyle-ef51c266 ps20253\">Courvoisier S.A.S 3.61%<span class=\"f ps21\"> </span></span></div><div class=\"ps20199 ss18\"><span class=\"f charStyle-ef51c266 ps9102\">Distillerie Charentaise <span class=\"f ps21\"> </span></span></div><div class=\"ps20201 ss18\"><span class=\"f charStyle-ef51c266 ps20255\">Jubert S.A.S. 1.81%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20263 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Association Coop\u00e9rative des </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Bouilleurs de Cru, agricultural </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">production company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20264 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">2 place Du Chateau, 16200 Jarnac <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20265 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac251,436</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20266 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">1.96<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20268 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps2687\">SCEA Domaine <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20267\">Guilloteau 2.30%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps7053 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari South Africa Pty Ltd., </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20269 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">2nd Floor ICR House Alphen Park, </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Constantia main road, Constantia, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">Western Cape 7806, South Africa</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20271 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20270\">ZAR<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20272 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">235,247,750<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20273 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20274 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Espa\u00f1a S.L.U.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps19385 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps13674 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari America, LLC, </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20275 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">1114 Avenue of the Americas, 19th <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Floor New York, 10036 United </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">States</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20276 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20277 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">626,321,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20278 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2708 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Wilderness Trail Distillery, LLC, </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">holding company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20279 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4095 Lebanon Road Danville, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Kentucky 40422 United States</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20280 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20282 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20281\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20283 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">70.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20284 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps14696\">Campari America LLC <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20216\">70%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps15818 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Wilderness Trace Distillery, LLC, </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20285 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4095 Lebanon Road Danville, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Kentucky 40422 United States</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20286 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20287 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20281\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20288 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">70.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20291 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps20289\">Wilderness Trail Distillery, <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20290\">LLC 100%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps4726 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Argentina S.A., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20292 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Tucuman, Piso 4 1107 Buenos </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Aires, Ciudad de Buenos Aires</span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">Argentina</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20293 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">ARS<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20297 ss1594\"><div><div class=\"ps20296 ss180\"><span class=\"f charStyle-b04ca002 ps20294\">1,179,665,930</span><span class=\"f charStyle-cb7d1392 ps20295\"><sup>(2)</sup></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20298 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.81<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20299 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">1.19<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20301 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps19613\">Campari do Brasil Ltda. <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20300\">1.19%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps13947 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari do Brasil Ltda., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20302 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Alameda Rio Negro 585, Edificio <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Demini, Conjunto 62, Alphaville-<span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Barueri-SP, Brasil<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20303 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">BRL<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20304 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">36,870,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20305 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">99.9999<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20306 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20281\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20308 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps8247\">Campari Schweiz A.G. <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20307\">0.0001%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps13958 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Mexico S.A. de C.V.,\u00a0 </span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20309 ss1597\"><div><div class=\"ps10703 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Avenida Americas 1500 Piso G-A <span class=\"f ps21\"> </span></span></div><div class=\"ps10701 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Colonia Country Club, Guadalajara, </span></div><div class=\"ps10704 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Jalisco, 44610 Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20311 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20313 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20312\">6,384,020,642<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20314 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20315 ss1600\"><div><div class=\"ps20197 ss18\"><span class=\"f charStyle-c6dd72c8 ps7974\">Campari Espa\u00f1a S.L.U. </span></div><div class=\"ps20199 ss18\"><span class=\"f charStyle-c6dd72c8 ps17811\">99.00% </span></div><div class=\"ps20201 ss18\"><span class=\"f charStyle-c6dd72c8 ps14959\">Campari America, LLC <span class=\"f ps21\"> </span></span></div><div class=\"ps20203 ss18\"><span class=\"f charStyle-c6dd72c8 ps20300\">1.00%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps19549 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Mexico Destiladora S.A. </span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">de C.V.</span><span class=\"f charStyle-85922b7e ps20316\"><sup>(3)</sup></span><span class=\"f charStyle-40131897 ps20317\">, manufacturing company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20318 ss1597\"><div><div class=\"ps10703 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Camino Real a Atotonilco No. 1081, <span class=\"f ps21\"> </span></span></div><div class=\"ps10701 ss635\"><span class=\"f charStyle-183bdf94 ps132\">La Trinidad, San Ignacio Cerro </span></div><div class=\"ps10704 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Gordo, Jalisco, Z.C. 47195, Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20319 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20320 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">10,100,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20321 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20327 ss1600\" style=\"overflow:hidden\"><div><div class=\"ps20322 ss18\"><span class=\"f charStyle-ef51c266 ps18582\">Campari Mexico, S.A. de <span class=\"f ps21\"> </span></span></div><div class=\"ps20324 ss18\"><span class=\"f charStyle-ef51c266 ps20323\">C.V. 99.99%</span></div><div class=\"ps20194 ss18\"><span class=\"f charStyle-ef51c266 ps14959\">Campari America, LLC <span class=\"f ps21\"> </span></span></div><div class=\"ps20325 ss18\"><span class=\"f charStyle-ef51c266 ps20300\">0.01%</span></div></div></div></td></tr><tr style=\"height:39pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20328 ss1608\"><div><div class=\"ps9448 ss635\"><span class=\"f charStyle-40131897 ps132\">Licorera Ancho Reyes y cia, </span></div><div class=\"ps9449 ss635\"><span class=\"f charStyle-40131897 ps132\">S.A.P.I. de C.V., manufacturing and </span></div><div class=\"ps9450 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20329 ss1608\"><div><div class=\"ps9448 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Paseo de los Tamarindos No. 90 <span class=\"f ps21\"> </span></span></div><div class=\"ps9449 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Edificio Arcos Bosques Torre II-Piso </span></div><div class=\"ps9450 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5C Col. Bosques de las Lomas, </span></div><div class=\"ps9451 ss635\"><span class=\"f charStyle-183bdf94 ps132\">05120, Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20330 ss1609\"><div><div class=\"ps18102 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20332 ss1609\"><div><div class=\"ps18102 ss180\"><span class=\"f charStyle-ef51c266 ps20331\">73,972</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20333 ss1609\"><div><div class=\"ps18102 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20337 ss1610\"><div><div class=\"ps20334 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Espa\u00f1a S.L.U. <span class=\"f ps21\"> </span></span></div><div class=\"ps18116 ss18\"><span class=\"f charStyle-ef51c266 ps17811\">99.99%<span class=\"f ps21\"> </span></span></div><div class=\"ps18102 ss18\"><span class=\"f charStyle-ef51c266 ps18582\">Campari Mexico, S.A. de <span class=\"f ps21\"> </span></span></div><div class=\"ps18117 ss18\"><span class=\"f charStyle-ef51c266 ps20335\">C.V. 0.01%</span></div></div></div></td></tr><tr style=\"height:36pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20338 ss1611\"><div><div class=\"ps2372 ss635\"><span class=\"f charStyle-40131897 ps132\">Casa Montelobos, S.A.P.I. de C.V., </span></div><div class=\"ps2374 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2377 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20339 ss1611\"><div><div class=\"ps2372 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Paseo de los Tamarindos No. 90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Edificio Arcos Bosques Torre II-Piso </span></div><div class=\"ps2377 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5C Col. Bosques de las Lomas, </span></div><div class=\"ps2378 ss635\"><span class=\"f charStyle-183bdf94 ps132\">05120, Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20340 ss1612\"><div><div class=\"ps18074 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20342 ss1612\"><div><div class=\"ps18074 ss180\"><span class=\"f charStyle-ef51c266 ps20341\">5,287,771.00</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20343 ss1612\"><div><div class=\"ps18074 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20346 ss511\"><div><div class=\"ps20344 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Espa\u00f1a S.L.U. <span class=\"f ps21\"> </span></span></div><div class=\"ps18085 ss18\"><span class=\"f charStyle-ef51c266 ps17811\">99.99%<span class=\"f ps21\"> </span></span></div><div class=\"ps18087 ss18\"><span class=\"f charStyle-ef51c266 ps18582\">Campari Mexico, S.A. de <span class=\"f ps21\"> </span></span></div><div class=\"ps20345 ss18\"><span class=\"f charStyle-ef51c266 ps20335\">C.V. 0.01%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20347 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Peru SAC, trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20348 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Av. Jorge Basadre No.607, oficina <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">702, distrito de San Isidro, Lima, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Peru</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20349 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">PEN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20351 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20350\">34,733,589</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20352 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20354 ss1596\"><div><div class=\"ps20187 ss18\"><span class=\"f charStyle-c6dd72c8 ps7974\">Campari Esp\u00e3na S.L.U. </span></div><div class=\"ps20141 ss18\"><span class=\"f charStyle-c6dd72c8 ps20353\">99.92%, Campari do </span></div><div class=\"ps20190 ss18\"><span class=\"f charStyle-c6dd72c8 ps6592\">Brasil Ltda. 0.08%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20355 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Forty Creek Distillery Ltd., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20356 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">297 South Service Road West, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Grimsby, ON L3M 1Y6 Canada</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20357 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">CAD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20358 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">105,500,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20359 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20360 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">J. Wray and Nephew Ltd., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20361 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">23 Dominica Drive, Kingston 5, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Jamaica</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20362 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">JMD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20363 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">750,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20364 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20365 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Esp\u00e3na S.L.U.<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">name of company, activity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20218 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">registered office<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15574 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-ee7239d7 ps20219\">share capital at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-ee7239d7 ps11927\">2025</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12794 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-2977ca59 ps18668\">% owned by</span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-2977ca59 ps20222\">Davide Campari-Milano N.V.</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ee7239d7 ps20223\">indirect ownership <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ee7239d7 ps20224\">through<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20226 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20225\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20228 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20227\">amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20230 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20229\">direct<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20231 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps11966\">Indirect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps2347 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Asia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20366 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari (Beijing) Trading Co. Ltd., </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20367 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Building 1, Level 5, Room 66, 16 <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Chaowai Avenue, Chaoyang </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">District, Beijing, China</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20368 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">CNY<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20369 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">261,896,430<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20370 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps4163 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Australia Pty Ltd., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20371 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Level 21, 141 Walker Street North <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Sydney, 2060, Australia</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20372 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">AUD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20373 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">56,500,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps14520 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:41.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps6443 ss1613\"><div><div class=\"ps9871 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari India Private Ltd., trading </span></div><div class=\"ps9872 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20374 ss1613\"><div><div class=\"ps9870 ss635\"><span class=\"f charStyle-40131897 ps132\">Regus Eversun Business Centre, </span></div><div class=\"ps9871 ss635\"><span class=\"f charStyle-40131897 ps132\">Level 5, Punj Essen House, 17 &amp; </span></div><div class=\"ps9872 ss635\"><span class=\"f charStyle-40131897 ps132\">18, Nehru Place, Delhi 110019, </span></div><div class=\"ps9873 ss635\"><span class=\"f charStyle-40131897 ps132\">India</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20377 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps20375\">INR<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20378 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">172,260<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20379 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20380 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">0.01<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20384 ss1615\"><div><div class=\"ps20381 ss18\"><span class=\"f charStyle-ef51c266 ps18414\">Campari Australia Pty <span class=\"f ps21\"> </span></span></div><div class=\"ps20383 ss18\"><span class=\"f charStyle-ef51c266 ps20382\">Ltd. 0.01%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps3361 ss1601\"><div><div class=\"ps9998 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari New Zealand Limited</span><span class=\"f charStyle-85922b7e ps20385\"><sup>(4)</sup></span><span class=\"f charStyle-40131897 ps20386\">, <span class=\"f ps21\"> </span></span></div><div class=\"ps2551 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20387 ss1601\"><div><div class=\"ps9998 ss635\"><span class=\"f charStyle-40131897 ps132\">Level 5, 60 Parnell Road, Parnell</span></div><div class=\"ps2551 ss635\"><span class=\"f charStyle-40131897 ps132\">Auckland CBD, 1010, New Zealand</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20389 ss1616\"><div><div class=\"ps20388 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">NZD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20390 ss1616\"><div><div class=\"ps20388 ss180\"><span class=\"f charStyle-ef51c266 ps7987\">5,180,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20391 ss1616\"><div><div class=\"ps20388 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20393 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ef51c266 ps18414\">Campari Australia Pty <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ef51c266 ps20392\">Ltd.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps10952 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Singapore Pte Ltd., </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20394 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">152 Beach Road, #24-06, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">1Gateway East, 189721, Singapore </span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20396 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20395\">SGD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20397 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">19,100,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps12870 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20398 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Korea Co. Ltd., trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20399 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5th Floor, 14 Samsung-ro 133-gil <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Gangnam-gu, Seoul, South Korea, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Songpa-gu, Seoul, Korea</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20400 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps18814\">KRW<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20401 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20312\">2,000,000,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20402 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20403 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps2758\">Glen Grant Ltd.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps962 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Japan Limited, trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20404 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">107-0062 Tokyo 1-1-1 Minami-<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Aoyama, Shin Aoyama Bldg West </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">6F, Minato-Ku Japan</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20405 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps6334\">JPY<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20406 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">100,000,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20407 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps20408 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:158.61pt\">The \u20ac12,312,677 represents ordinary share capital.</span></div><div class=\"ps20409 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:282.08pt\">The share capital does not include effects related to the hyperinflation accounting standard.</span></div><div class=\"ps20410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(3)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:57.8pt\"> Inactive company.</span></div><div class=\"ps20411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(4)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.55pt\"> Campari New Zealand Limited, trading company, was previously named Thirsty Camel Limited. Campari 612220 Ltd., previously Campari New Zealand</span><span class=\"f charStyle-40131897 ps413\" style=\"width:1.94pt\"> </span></div><div class=\"ps20412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:133.7pt\">Limited, was liquidated in September 2025.</span></div><div class=\"ps26900 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Related Parties<span id=\"iaf65e132494d41ebb19deafc53bee6d3\"></span></span></div><div class=\"ps22376 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps22377 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:103.55pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26901\" style=\"width:392.6pt\">, Davide Campari-Milano N.V. was controlled by the Italian Branch of Lagfin S.C.A.,</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22378 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">Soci\u00e9t\u00e9 en Commandite par Actions. Davide Campari-Milano N.V. and its Italian subsidiaries have adopted the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps22379 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">national tax consolidation scheme governed by articles 117 et seq. of the Consolidated Law on Corporate</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22380 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Income Tax (\u2018TUIR\u2019) for 2024 to 2026 and the individual Italian companies' income tax receivables and payables</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22381 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">were recorded from or to, respectively, the Italian Branch of Lagfin S.C.A., Soci\u00e9t\u00e9 en Commandite par Actions.</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22382 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Furthermore, Lagfin S.C.A., Soci\u00e9t\u00e9 en Commandite par Actions, Davide Campari-Milano N.V. and some of its</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26902 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">Italian subsidiaries, have joined the Group wide VAT scheme pursuant to article 73, para. 3 of Presidential</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps26905 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:268.3pt\">Decree (\u2018DPR\u2019) 633/72. All tax receivables and payables are </span><span class=\"f charStyle-58d8bcbe ps26903\" style=\"width:89.46pt\">non-interest-bearing</span><span class=\"f charStyle-58d8bcbe ps26904\" style=\"width:2.77pt\">.</span></div><div class=\"ps26909 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:446.21pt\">The following table indicates the amounts for the various categories of transactions with related </span><span class=\"f charStyle-58d8bcbe ps26907\" style=\"width:30pt\">parties</span><span class=\"f charStyle-58d8bcbe ps26908\" style=\"width:20pt\">. No</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps26910 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:471.33pt\">material transactions with related parties had an impact on the profit or loss for the period ended </span><span class=\"f charStyle-58d8bcbe ps19761\" style=\"width:24.82pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps26911 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2025</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:2.77pt\">.</span></div><div class=\"ps26936 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:206.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:68.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26914 ss410\"><div><div class=\"ps2776 ss409\"><span class=\"f charStyle-183bdf94 ps26913\">payables for tax <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss409\"><span class=\"f charStyle-183bdf94 ps16129\">consolidation</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8655 ss628\"><div><div class=\"ps2776 ss618\"><span class=\"f charStyle-183bdf94 ps26915\">receivables (payables) <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss618\"><span class=\"f charStyle-183bdf94 ps26916\">for Group VAT</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26041 ss375\"><div><div class=\"ps2776 ss374\"><span class=\"f charStyle-183bdf94 ps26917\">other non-current tax <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss374\"><span class=\"f charStyle-183bdf94 ps26918\">receivables (payables)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23974 ss1836\"><div><div class=\"ps2776 ss1835\"><span class=\"f charStyle-40131897 ps26919\">other financial </span></div><div class=\"ps2777 ss1835\"><span class=\"f charStyle-40131897 ps9089\">(liabilities)</span><span class=\"f charStyle-85922b7e ps26920\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps8198 ss1672\"><div><div class=\"ps476 ss1671\"><span class=\"f charStyle-183bdf94 ps132\">31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26922 ss941\"><div><div class=\"ps485 ss409\"><span class=\"f charStyle-183bdf94 ps26921\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps478 ss1905\"><div><div class=\"ps485 ss618\"><span class=\"f charStyle-183bdf94 ps26923\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26044 ss1238\"><div><div class=\"ps485 ss374\"><span class=\"f charStyle-183bdf94 ps22420\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23977 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps26924\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1126 ss1672\"><div><div class=\"ps485 ss1671\"><span class=\"f charStyle-183bdf94 ps132\">Lagfin S.C.A., Soci\u00e9t\u00e9 en Commandite par Actions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26926 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94 ps26925\">(31.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps483 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">4.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24701 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps20531\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23978 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps490 ss1672\"><div><div class=\"ps485 ss1671\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26927 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-ba8ac8da ps26925\">(31.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps493 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">4.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26049 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-ba8ac8da ps20531\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23979 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-ba8ac8da ps24003\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps498 ss1672\"><div><div class=\"ps485 ss1671\"><span class=\"f charStyle-ba8ac8da ps132\">% on the related financial statements item<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26930 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps26928\"></span><span class=\"ps26928\">60.9<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps26929\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps501 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps20673\"></span><span class=\"ps20673\">(3.5)</span><span class=\"ps26931\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26052 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps26932\"></span><span class=\"ps26932\">0.3<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps26933\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26935 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps26934\"></span><span class=\"ps26934\">1.6<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps23976\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.41pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps26754\" style=\"width:488.78pt\">A related right-of-use asset with an amount of \u20ac0.8 million was recorded (please refer to note 4 ii-'Property, Plant and Equipment, Right-of-Use Assets and</span><span class=\"f charStyle-40131897 ps465\" style=\"width:1.94pt\"> </span></div><div class=\"ps26938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:56.74pt\">Biological Assets).</span></div><div class=\"ps26954 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:206.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td><td style=\"padding:0;width:78.75pt\"></td><td style=\"padding:0;width:65.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26914 ss410\"><div><div class=\"ps2776 ss409\"><span class=\"f charStyle-183bdf94 ps26940\">receivables for tax <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss409\"><span class=\"f charStyle-183bdf94 ps16129\">consolidation</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8655 ss628\"><div><div class=\"ps2776 ss618\"><span class=\"f charStyle-183bdf94 ps26915\">receivables (payables) <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss618\"><span class=\"f charStyle-183bdf94 ps26916\">for Group VAT</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26041 ss1177\"><div><div class=\"ps2776 ss1166\"><span class=\"f charStyle-183bdf94 ps26941\">other non-current tax <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1166\"><span class=\"f charStyle-183bdf94 ps26942\">receivables (payables)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26944 ss410\"><div><div class=\"ps2776 ss409\"><span class=\"f charStyle-40131897 ps4739\">other financial </span></div><div class=\"ps2777 ss409\"><span class=\"f charStyle-40131897 ps26943\">(liabilities)</span><span class=\"f charStyle-85922b7e ps12351\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1672\"><div><div class=\"ps476 ss1671\"><span class=\"f charStyle-183bdf94 ps132\">31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26922 ss941\"><div><div class=\"ps485 ss409\"><span class=\"f charStyle-183bdf94 ps26921\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps478 ss1905\"><div><div class=\"ps485 ss618\"><span class=\"f charStyle-183bdf94 ps26923\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26044 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps26945\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26946 ss941\"><div><div class=\"ps485 ss409\"><span class=\"f charStyle-183bdf94 ps26921\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1672\"><div><div class=\"ps485 ss1671\"><span class=\"f charStyle-183bdf94 ps132\">Lagfin S.C.A., Soci\u00e9t\u00e9 en Commandite par Actions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26926 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94 ps12372\">5.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps483 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25834\">(2.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24701 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps23403\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26948 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94 ps26947\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1672\"><div><div class=\"ps485 ss1671\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26927 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-ba8ac8da ps12372\">5.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps493 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25834\">(2.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26049 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-ba8ac8da ps23403\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26949 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-ba8ac8da ps26947\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1672\"><div><div class=\"ps485 ss1671\"><span class=\"f charStyle-ba8ac8da ps132\">% on the related financial statements item<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26930 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps26928\"></span><span class=\"ps26928\">15.1<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps26929\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps501 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps26950\"></span><span class=\"ps26950\">2.0<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps26931\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26052 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps25823\"></span><span class=\"ps25823\">0.1<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps26951\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26953 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps26952\"></span><span class=\"ps26952\">1.7<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps26929\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26955 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.62pt\">A related right-of-use asset with an amount of \u20ac1.0 million was recorded (please refer to note 4 ii-'Property, Plant and Equipment, Right-of-Use Assets and</span><span class=\"f charStyle-40131897 ps118\" style=\"width:1.94pt\"> </span></div><div class=\"ps26956 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:255.36pt\">Biological Assets of the Consolidated Financial Statements at 31 December 2024).</span></div><div class=\"ps26966 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:337.5pt\"></td><td style=\"padding:0;width:158.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13972 ss1986\"><div><div class=\"ps485 ss1985\"><span class=\"f charStyle-183bdf94 ps26958\">selling, general and administrative expenses<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1987\"><div><div class=\"ps476 ss1527\"><span class=\"f charStyle-40131897 ps132\">2025</span><span class=\"f charStyle-85922b7e ps26959\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26961 ss1986\"><div><div class=\"ps485 ss1985\"><span class=\"f charStyle-183bdf94 ps26960\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1987\"><div><div class=\"ps485 ss1527\"><span class=\"f charStyle-183bdf94 ps132\">Lagfin S.C.A., Soci\u00e9t\u00e9 en Commandite par Actions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26963 ss1986\"><div><div class=\"ps476 ss1985\"><span class=\"f charStyle-183bdf94 ps26962\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1987\"><div><div class=\"ps485 ss1527\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26964 ss1986\"><div><div class=\"ps485 ss1985\"><span class=\"f charStyle-ba8ac8da ps26962\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1987\"><div><div class=\"ps485 ss1527\"><span class=\"f charStyle-183bdf94 ps132\">%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26965 ss1986\"><div><div class=\"ps476 ss1985\"><span class=\"f charStyle-183bdf94 ps17285\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26968 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.31pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps26967\" style=\"width:488.81pt\">The financial interest component related to the other financial (liabilities) was negligible, depreciation and amortisation referring to the right-of-use asset not</span><span class=\"f charStyle-40131897 ps381\" style=\"width:1.94pt\"> </span></div><div class=\"ps26969 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:403.48pt\">represented in this related parties section amounted to \u20ac0.2 million and presented as selling, general and administrative expenses.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:337.5pt\"></td><td style=\"padding:0;width:158.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13972 ss1986\"><div><div class=\"ps485 ss1985\"><span class=\"f charStyle-183bdf94 ps26958\">selling, general and administrative expenses<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1987\"><div><div class=\"ps476 ss1527\"><span class=\"f charStyle-183bdf94 ps132\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26961 ss1986\"><div><div class=\"ps485 ss1985\"><span class=\"f charStyle-183bdf94 ps26960\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1987\"><div><div class=\"ps485 ss1527\"><span class=\"f charStyle-183bdf94 ps132\">Lagfin S.C.A., Soci\u00e9t\u00e9 en Commandite par Actions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26963 ss1986\"><div><div class=\"ps476 ss1985\"><span class=\"f charStyle-183bdf94 ps26962\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1987\"><div><div class=\"ps485 ss1527\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26964 ss1986\"><div><div class=\"ps485 ss1985\"><span class=\"f charStyle-ba8ac8da ps26962\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1987\"><div><div class=\"ps485 ss1527\"><span class=\"f charStyle-183bdf94 ps132\">%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26965 ss1986\"><div><div class=\"ps485 ss1985\"><span class=\"f charStyle-183bdf94 ps26972\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26973 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vi.\u00a0  Remuneration to the Parent Company\u2019s Board of Directors<span id=\"i7adecbbec26c432baac6f2ef2df2146b\"></span></span></div><div class=\"ps26975 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps26979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:244.45pt\">The remuneration to the Parent Company\u2019s Board of </span><span class=\"f charStyle-58d8bcbe ps422\" style=\"width:18.33pt\">Dire</span><span class=\"f charStyle-58d8bcbe ps26976\" style=\"width:21.66pt\">ctors</span><span class=\"f charStyle-58d8bcbe ps26977\" style=\"width:56.96pt\"> included in </span><span class=\"f charStyle-58d8bcbe ps26978\" style=\"width:154.74pt\">selling, general and administrative<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26980 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:112.77pt\">expenses was as follows.</span></div><div class=\"ps26984 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:288.75pt\"></td><td style=\"padding:0;width:103.5pt\"></td><td style=\"padding:0;width:103.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19293 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-183bdf94 ps19292\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6978 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19294\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11811 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19294\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6983 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19296\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19366 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19296\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1989\"><div><div class=\"ps485 ss1988\"><span class=\"f charStyle-183bdf94 ps132\">Short-term fixed and variable remuneration<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6989 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19336\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19367 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19336\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1989\"><div><div class=\"ps485 ss1988\"><span class=\"f charStyle-40131897 ps132\">Termination benefits and settlement\u00a0 payments</span><span class=\"f charStyle-85922b7e ps26981\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6993 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19321\">31.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19396 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19336\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1989\"><div><div class=\"ps485 ss1988\"><span class=\"f charStyle-40131897 ps132\">Long-term and share - based remuneration</span><span class=\"f charStyle-85922b7e ps26982\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6997 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19336\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19398 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19336\">2.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1989\"><div><div class=\"ps485 ss1988\"><span class=\"f charStyle-40131897 ps132\">Last mile long-term retention scheme</span><span class=\"f charStyle-85922b7e ps26983\"><span class=\"f ps21\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7001 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19322\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19400 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19336\">2.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1989\"><div><div class=\"ps485 ss1988\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7005 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-ba8ac8da ps19321\">40.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19402 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-ba8ac8da ps19321\">14.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:8.21pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps26985\" style=\"width:487.88pt\">The amount accounted for in 2025 encompasses the settlement payments recognised to previous Chief Financial and Operating Officer, following the</span><span class=\"f charStyle-40131897 ps372\" style=\"width:1.94pt\"> </span></div><div class=\"ps26987 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:368.49pt\">consensual termination of his responsibilities, and in accordance with the remuneration policy and existing agreements.</span></div><div class=\"ps26988 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:388.69pt\">The value shown above also includes the liability relating to the cancellation of stock option plans granted to outgoing director.</span></div><div class=\"ps26989 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.54pt\"><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps5055\" style=\"width:488.59pt\">Pursuant to the Remuneration Policy, in 2024 a shared-based last mile incentive scheme with retention purpose to be potentially awarded to the previous</span><span class=\"f charStyle-40131897 ps104\" style=\"width:1.94pt\"> </span></div><div class=\"ps26990 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:313.45pt\">Chief Financial and Operating Officer had been approved by the Parent Company\u2019s corporate bodies.</span></div><div class=\"ps26995 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:237.63pt\">On the date of this report, a payable to directors of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26992\" style=\"width:13.89pt\">5.4</span><span class=\"f charStyle-58d8bcbe ps26993\" style=\"width:221.81pt\"> million was recognised in the Group\u2019s accounts (</span><span class=\"f charStyle-58d8bcbe ps26994\" style=\"width:22.82pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps26996 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2024</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:138.84pt\">, this amounted to \u20ac3.7 million).</span></div><div class=\"ps26997 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:452.88pt\">For more information regarding the remuneration of directors, please refer to the \u2019Governance\u2019 section.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-437": {
   "value": "<div class=\"ps20082 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Principles of Control and Consolidation<span id=\"i921f898eafd94c6ba0764a22f89e2c83\"></span></span></div><div class=\"ps20083 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:95.88pt\">Principles of control<span id=\"ia50511d7696d4bbf8f1a6ae08e2497fa\"></span></span></div><div class=\"ps1204 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">Control is determined when the Group is exposed to or has a right to variable returns resulting from its</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1205 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">involvement with the investee, and, at the same time, has the ability to use its power over the investee to affect</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1206 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:61.1pt\">these returns.</span></div><div class=\"ps1207 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:278.6pt\">Specifically, the Group controls a business if, and only if, it has:</span></div><div class=\"ps1208 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.95pt\">power over the investee (or holds valid rights that give it the actual ability to manage significant activities of</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1209 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:59.99pt\">the investee);<span class=\"f ps21\"> </span></span></div><div class=\"ps1210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:374.91pt\">exposure or rights to variable returns resulting from its involvement with the investee;</span></div><div class=\"ps1211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:329.68pt\">the ability to use its power over the investee to affect the size of its returns.</span></div><div class=\"ps1212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Generally, control is assumed to exist when the Group possesses a majority of the voting rights. In support of</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps25 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">this assumption and when the Group holds less than the majority of the voting rights (or similar rights), the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps26 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Group considers all relevant facts and circumstances in assessing whether it controls the investee, including</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps27 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">contractual arrangements with other holders of voting rights, rights arising from contractual arrangements, and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps28 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:227.55pt\">the Group\u2019s voting rights and potential voting rights.</span></div><div class=\"ps29 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The Group reassesses whether or not it controls a subsidiary if facts and circumstances indicate that one or</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps30 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">more of the three significant elements defining control have changed. Consolidation of a subsidiary begins when<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps31 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">the Group obtains direct or indirect control of that subsidiary (or through one or more other subsidiaries) and</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps32 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">ceases when the Group loses control therefrom. The assets, liabilities, revenues and costs of the subsidiary</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps33 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">acquired or disposed of over the year are included in the Consolidated Financial statements from the date on</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps34 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">which the Group obtains control until the date on which the Group no longer exercises control over the</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps35 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:42.6pt\">company.</span></div><div class=\"ps36 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Changes in investments in subsidiaries that do not result in acquisition or loss of control are recorded as</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps37 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:142.24pt\">changes in shareholders\u2019 equity.</span></div><div class=\"ps38 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">If the Group loses control of a subsidiary, the related assets (including goodwill), liabilities, non-controlling</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps39 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">interests and other components of shareholders\u2019 equity are derecognised, while any gain or loss is recognised</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps40 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:406.55pt\">in the statement of profit or loss. Any ownership interest maintained is recorded at fair value.</span></div><div class=\"ps20084 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:127.04pt\">Principles of consolidation<span id=\"i12ee6f5ae588463eb48d58ae255b4b03\"></span></span></div><div class=\"ps18173 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">The Consolidated Financial statements include the financial statements of the Parent Company and of the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps18174 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Italian and foreign subsidiaries. All subsidiaries are consolidated on a line-by-line basis. The carrying amount of</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps18175 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">the investments in subsidiaries is derecognised against the corresponding portion of the shareholders\u2019 equity of</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps18176 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">the subsidiaries. At the first consolidation stage, individual assets and liabilities are measured at fair value in the</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps12992 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">context of the purchase price allocation at the date control was acquired. Any residual positive difference in the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps11565 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">allocation is recorded under the asset item \u2018goodwill\u2019, and any negative amount is allocated to the statement of</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:57.19pt\">profit or loss.</span></div><div class=\"ps12994 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The subsidiaries\u2019 financial statements are based on the same financial year as the Parent Company and drawn</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps12995 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">up for the purposes of consolidation. When necessary, appropriate adjustments are made to subsidiaries\u2019</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps12999 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">financial statements to bring them into line with the Group\u2019s accounting policies. Joint-ventures are measured by</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps13001 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:122.22pt\">applying the equity method.</span></div><div class=\"ps13002 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">When preparing the Consolidated Financial statements, unrealised gains and losses resulting from intra-group</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1867 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">transactions are derecognised, as are the entries giving rise to payables and receivables, and costs and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps13004 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">revenues between the companies included in the basis of consolidation. All intra-group assets and liabilities,</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps13005 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">shareholders\u2019 equity, revenues, costs and cash flow relating to transactions between Group entities are fully</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps13006 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">derecognised on consolidation. All remaining assets and liabilities, expenses and revenues of the subsidiaries<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps13007 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">are fully reflected in the Consolidated Financial statements. Unrealised gains and losses generated on<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps13008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">transactions with joint-ventures are derecognised to the extent of the Group\u2019s percentage interest in those</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps13009 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:355.58pt\">companies. Dividends collected from consolidated companies are derecognised.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">The profit (loss) for the year and all other components of the statement of other comprehensive income are</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">attributed to the shareholders of the Parent Company and to non-controlling interests, even if this results in non-<span class=\"f ps21\"> </span></span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">controlling interests having a negative value. Non-controlling interests in shareholders\u2019 equity and related results</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:354.94pt\">are reported under the appropriate line items in the primary financial statements.</span></div><div class=\"ps20086 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:106.28pt\">Basis of consolidation<span id=\"i98247008acdf478690a08db6c7d05a73\"></span></span><span class=\"f charStyle-562c451e ps20085\" style=\"width:3.05pt\"> </span></div><div class=\"ps20088 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The following change was made to the basis of consolidation, resulting from the acquisitions and reorganization</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps20090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:62.22pt\">of companies:</span><span class=\"f charStyle-d01d3980 ps20089\" style=\"width:3.33pt\"> </span></div><div class=\"ps20091 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">on 17 September 2025 Campari 612220 Ltd, previously named Campari New Zealand Limited, completed</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps20092 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:245.53pt\">the liquidation process in line with local applicable laws;</span></div><div class=\"ps20093 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">on 1 November 2025, Soci\u00e9t\u00e9 des Produits Marnier Lapostolle S.A.S. was merged within Campari France</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps20094 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.99pt\">S.A.S. with the aim of optimizing and streamlining the Group\u2019s structure. For statutory and tax purposes, the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps16941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:216.45pt\">effective date of the merger was 1 January 2025.</span></div><div class=\"ps20099 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:278.28pt\">The following tables list the companies included in the basis of </span><span class=\"f charStyle-58d8bcbe ps20096\" style=\"width:58.35pt\">consolidation</span><span class=\"f charStyle-58d8bcbe ps20097\" style=\"width:13.87pt\"> at </span><span class=\"f charStyle-58d8bcbe ps20098\" style=\"width:85.02pt\">31 December 2025</span><span class=\"f charStyle-58d8bcbe ps2489\" style=\"width:2.77pt\">.</span></div><div class=\"ps20232 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">name of company, activity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20218 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">registered office<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15574 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-ee7239d7 ps20219\">share capital at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-ee7239d7 ps11927\">2025</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12794 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-2977ca59 ps18668\">% owned by</span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-2977ca59 ps20222\">Davide Campari-Milano N.V.</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ee7239d7 ps20223\">indirect ownership <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ee7239d7 ps20224\">through<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20226 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20225\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20228 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20227\">amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20230 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20229\">direct<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20231 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps11966\">Indirect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:54.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2347 ss1589\"><div><div class=\"ps20101 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Davide Campari-Milano N.V., <span class=\"f ps21\"> </span></span></div><div class=\"ps13585 ss635\"><span class=\"f charStyle-183bdf94 ps132\">holding, trading and manufacturing </span></div><div class=\"ps20102 ss635\"><span class=\"f charStyle-183bdf94 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20105 ss1589\"><div><div class=\"ps20103 ss635\"><span class=\"f charStyle-40131897 ps132\">legal domicile: Amsterdam </span></div><div class=\"ps20101 ss635\"><span class=\"f charStyle-40131897 ps132\">(Netherlands)</span></div><div class=\"ps13585 ss635\"><span class=\"f charStyle-40131897 ps132\">corporate address: Via Franco </span></div><div class=\"ps20102 ss635\"><span class=\"f charStyle-40131897 ps132\">Sacchetti 20, 20099 Sesto San </span></div><div class=\"ps20104 ss635\"><span class=\"f charStyle-40131897 ps132\">Giovanni, Milan, Italy.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20108 ss1590\"><div><div class=\"ps20107 ss180\"><span class=\"f charStyle-ef51c266 ps20106\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20111 ss1590\"><div><div class=\"ps20107 ss180\"><span class=\"f charStyle-c6dd72c8 ps20109\">12,312,677</span><span class=\"f charStyle-c069816f ps20110\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td colspan=\"7\" style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1096 ss1591\"><div><div class=\"ps20112 ss49\"><span class=\"f charStyle-ee7239d7 ps12286\">Fully consolidated companies<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps14014 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps5110 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari International S.r.l., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps20113 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Via Franco Sacchetti 20, 20099 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Sesto San Giovanni; Milan, Italy</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps20116 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac700,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps20118 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps8618 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Mixology S.r.l., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20120 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Piazza Duomo 21, 20121 Milan, </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20122 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20121\">\u20ac68,880</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20123 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Europe and Africa<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Austria GmbH, trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20124 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Naglergasse 1/Top 13,1010 Wien, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Austria<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20125 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac500,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20126 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps10236 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Benelux S.A., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20127 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Rue aux Laines 68-72, 1000 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Bruxelles, Belgium<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20129 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac1,000,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps14614 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">61.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20130 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">38.99<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20131 ss513\"><div><div class=\"ps20115 ss18\"><span class=\"f charStyle-ef51c266 ps18053\">Glen Grant Ltd. 38.99%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps7047 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Deutschland GmbH, </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20132 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Adelgundenstr. 7 Munich, 80538 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Germany</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20133 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac5,200,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20134 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20135 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Espa\u00f1a S.L.U., holding </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20136 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Calle de la Marina 16-18, planta 29, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Barcelona, Spain</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20137 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac4,279,331</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20138 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps10085 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari RUS LLC, trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20139 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">115088, Moscow, 2nd <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Yuzhnoportovy proezd, 14/22, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Russia</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20142 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">RUB<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20144 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">210,000,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20145 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20147 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Schweiz A.G., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20148 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Lindenstrasse 8, 6341 Baar, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Switzerland</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20150 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">CHF<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20151 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">500,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20152 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2412 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Ukraine LLC, trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20153 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">8, Illinska Street, 5 Floor, block 8 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">and 9, Kiev, 4070 Ukraine</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20154 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">UAH<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20155 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">87,396,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20156 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">99.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20157 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">1.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20158 ss513\"><div><div class=\"ps20115 ss18\"><span class=\"f charStyle-ef51c266 ps8247\">Campari RUS LLC 1%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20159 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Glen Grant Ltd., manufacturing and </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20160 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Glen Grant Distillery, Elgin Road, <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Rothes, Morayshire, AB38 7BS, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">United Kingdom</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20161 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">GBP<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20162 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">164,949,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20163 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20164 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Hellas Single Member </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Societe Anonyme, manufacturing </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20165 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">6 and E Street, A\u2019 Industrial Area, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">38500 Volos, Greece</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20166 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac6,811,220</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20167 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20168 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari France S.A.S., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20169 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">14 rue Montalivet 75008 Paris, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20170 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps9116\">\u20ac263,298,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20172 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20173 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Bellonnie et Bourdillon </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Successeurs S.A.S., manufacturing </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20174 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Zone de G\u00e9nipa, 97224,</span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">Ducos, Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20176 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20175\">\u20ac15,100,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20177 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.83<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20181 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps20178\">Campari France <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps6493\">S.A.S.98.83%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20182 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Distilleries Agricole de Sainte Luce </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">S.A.S., agricultural production </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company </span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20183 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Zone de G\u00e9nipa, 97224,</span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">Ducos, Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20184 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac4,999,861</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20185 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.83<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20191 ss1596\"><div><div class=\"ps20187 ss18\"><span class=\"f charStyle-ef51c266 ps20186\">Bellonnie et Bourdillon <span class=\"f ps21\"> </span></span></div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps20188\">Successeurs S.A.S. </span></div><div class=\"ps20190 ss18\"><span class=\"f charStyle-ef51c266 ps20189\">100%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps19559 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">SCEA Trois Rivi\u00e8res, agricultural </span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">service company </span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20192 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">Zone de G\u00e9nipa, 97224,</span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">Ducos, Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20195 ss1598\"><div><div class=\"ps20194 ss1468\"><span class=\"f charStyle-ef51c266 ps20193\">\u20ac5,920</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20196 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.83<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20204 ss1600\"><div><div class=\"ps20197 ss18\"><span class=\"f charStyle-ef51c266 ps20186\">Bellonnie et Bourdillon <span class=\"f ps21\"> </span></span></div><div class=\"ps20199 ss18\"><span class=\"f charStyle-ef51c266 ps20198\">Successeurs S.A.S. 25%\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  </span></div><div class=\"ps20201 ss18\"><span class=\"f charStyle-ef51c266 ps20200\">Distilleries Agricoles de </span></div><div class=\"ps20203 ss18\"><span class=\"f charStyle-ef51c266 ps20202\">Sainte Luce S.A.S 75%</span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20205 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Champagne Lallier S.A.S., </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20206 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4 Place de la Lib\u00e9ration, 51160, Ay, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20207 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac5,000,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20208 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20211 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps5306\">Campari France S.A.S. <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20189\">100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20212 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Eric Luc, manufacturing and </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">property company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20213 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5 rue Ritterbandt, 51160, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Ay, France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20214 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac700,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20215 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">95.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20217 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps5306\">Campari France S.A.S. <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20216\">95%<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">name of company, activity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20218 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">registered office<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15574 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-ee7239d7 ps20219\">share capital at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-ee7239d7 ps11927\">2025</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12794 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-2977ca59 ps18668\">% owned by</span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-2977ca59 ps20222\">Davide Campari-Milano N.V.</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ee7239d7 ps20223\">indirect ownership <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ee7239d7 ps20224\">through<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20226 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20225\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20228 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20227\">amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20230 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20229\">direct<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20231 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps11966\">Indirect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2347 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Courvoisier S.A.S., manufacturing </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20105 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">2 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20108 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps9116\">\u20ac168,100,293</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20233 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20234 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps5306\">Campari France S.A.S. <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20189\">100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps3332 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">L. De Salignc &amp; CIE, trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20235 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">2 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20236 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac1,143,750</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20237 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20239 ss513\"><div><div class=\"ps20115 ss18\"><span class=\"f charStyle-ef51c266 ps20238\">Courvoisier S.A.S 100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps11246 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Distillerie Charentaise Jubert </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">S.A.S., manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20240 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">12 rue Guy Barat, 16120 <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Ch\u00e2teauneuf-Sur-Charente, France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20241 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac329,400</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20242 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20243 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps20238\">Courvoisier S.A.S 100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps8003 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">SCEA Domaine Guilloteau, </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">agricultural production company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20244 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">16 rue de la Croix, Les Basses <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Champagn\u00e8res, 16200 Les </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">M\u00e9tairies, France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20245 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20121\">\u20ac10,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20246 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">85.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20248 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps20247\">Courvoisier S.A.S 85%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps8335 ss1604\"><div><div class=\"ps1143 ss635\"><span class=\"f charStyle-40131897 ps132\">SICA Des Baronnies de Jarnac, </span></div><div class=\"ps1145 ss635\"><span class=\"f charStyle-40131897 ps132\">agricultural production company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20249 ss1604\"><div><div class=\"ps1143 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps1145 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20251 ss1605\"><div><div class=\"ps20250 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac116,720</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20252 ss1606\"><div><div class=\"ps20250 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">16.38<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20257 ss1607\"><div><div class=\"ps20254 ss18\"><span class=\"f charStyle-ef51c266 ps20253\">Courvoisier S.A.S 8.19%<span class=\"f ps21\"> </span></span></div><div class=\"ps20250 ss18\"><span class=\"f charStyle-ef51c266 ps9102\">Distillerie Charentaise <span class=\"f ps21\"> </span></span></div><div class=\"ps20256 ss18\"><span class=\"f charStyle-ef51c266 ps20255\">Jubert S.A.S. 8.19%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20258 ss1597\"><div><div class=\"ps10703 ss635\"><span class=\"f charStyle-40131897 ps132\">SICA Quinze des Borderies et </span></div><div class=\"ps10701 ss635\"><span class=\"f charStyle-40131897 ps132\">Champagnes, agricultural </span></div><div class=\"ps10704 ss635\"><span class=\"f charStyle-40131897 ps132\">production company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20259 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20260 ss1598\"><div><div class=\"ps20194 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac164,121</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20261 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">5.42<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20262 ss1600\"><div><div class=\"ps20197 ss18\"><span class=\"f charStyle-ef51c266 ps20253\">Courvoisier S.A.S 3.61%<span class=\"f ps21\"> </span></span></div><div class=\"ps20199 ss18\"><span class=\"f charStyle-ef51c266 ps9102\">Distillerie Charentaise <span class=\"f ps21\"> </span></span></div><div class=\"ps20201 ss18\"><span class=\"f charStyle-ef51c266 ps20255\">Jubert S.A.S. 1.81%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20263 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Association Coop\u00e9rative des </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Bouilleurs de Cru, agricultural </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">production company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20264 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">2 place Du Chateau, 16200 Jarnac <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20265 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac251,436</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20266 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">1.96<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20268 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps2687\">SCEA Domaine <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20267\">Guilloteau 2.30%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps7053 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari South Africa Pty Ltd., </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20269 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">2nd Floor ICR House Alphen Park, </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Constantia main road, Constantia, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">Western Cape 7806, South Africa</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20271 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20270\">ZAR<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20272 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">235,247,750<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20273 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20274 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Espa\u00f1a S.L.U.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps19385 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps13674 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari America, LLC, </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20275 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">1114 Avenue of the Americas, 19th <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Floor New York, 10036 United </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">States</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20276 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20277 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">626,321,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20278 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2708 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Wilderness Trail Distillery, LLC, </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">holding company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20279 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4095 Lebanon Road Danville, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Kentucky 40422 United States</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20280 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20282 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20281\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20283 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">70.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20284 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps14696\">Campari America LLC <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20216\">70%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps15818 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Wilderness Trace Distillery, LLC, </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20285 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4095 Lebanon Road Danville, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Kentucky 40422 United States</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20286 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20287 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20281\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20288 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">70.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20291 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps20289\">Wilderness Trail Distillery, <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20290\">LLC 100%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps4726 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Argentina S.A., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20292 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Tucuman, Piso 4 1107 Buenos </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Aires, Ciudad de Buenos Aires</span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">Argentina</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20293 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">ARS<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20297 ss1594\"><div><div class=\"ps20296 ss180\"><span class=\"f charStyle-b04ca002 ps20294\">1,179,665,930</span><span class=\"f charStyle-cb7d1392 ps20295\"><sup>(2)</sup></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20298 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.81<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20299 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">1.19<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20301 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps19613\">Campari do Brasil Ltda. <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20300\">1.19%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps13947 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari do Brasil Ltda., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20302 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Alameda Rio Negro 585, Edificio <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Demini, Conjunto 62, Alphaville-<span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Barueri-SP, Brasil<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20303 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">BRL<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20304 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">36,870,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20305 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">99.9999<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20306 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20281\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20308 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps8247\">Campari Schweiz A.G. <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20307\">0.0001%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps13958 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Mexico S.A. de C.V.,\u00a0 </span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20309 ss1597\"><div><div class=\"ps10703 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Avenida Americas 1500 Piso G-A <span class=\"f ps21\"> </span></span></div><div class=\"ps10701 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Colonia Country Club, Guadalajara, </span></div><div class=\"ps10704 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Jalisco, 44610 Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20311 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20313 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20312\">6,384,020,642<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20314 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20315 ss1600\"><div><div class=\"ps20197 ss18\"><span class=\"f charStyle-c6dd72c8 ps7974\">Campari Espa\u00f1a S.L.U. </span></div><div class=\"ps20199 ss18\"><span class=\"f charStyle-c6dd72c8 ps17811\">99.00% </span></div><div class=\"ps20201 ss18\"><span class=\"f charStyle-c6dd72c8 ps14959\">Campari America, LLC <span class=\"f ps21\"> </span></span></div><div class=\"ps20203 ss18\"><span class=\"f charStyle-c6dd72c8 ps20300\">1.00%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps19549 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Mexico Destiladora S.A. </span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">de C.V.</span><span class=\"f charStyle-85922b7e ps20316\"><sup>(3)</sup></span><span class=\"f charStyle-40131897 ps20317\">, manufacturing company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20318 ss1597\"><div><div class=\"ps10703 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Camino Real a Atotonilco No. 1081, <span class=\"f ps21\"> </span></span></div><div class=\"ps10701 ss635\"><span class=\"f charStyle-183bdf94 ps132\">La Trinidad, San Ignacio Cerro </span></div><div class=\"ps10704 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Gordo, Jalisco, Z.C. 47195, Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20319 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20320 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">10,100,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20321 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20327 ss1600\" style=\"overflow:hidden\"><div><div class=\"ps20322 ss18\"><span class=\"f charStyle-ef51c266 ps18582\">Campari Mexico, S.A. de <span class=\"f ps21\"> </span></span></div><div class=\"ps20324 ss18\"><span class=\"f charStyle-ef51c266 ps20323\">C.V. 99.99%</span></div><div class=\"ps20194 ss18\"><span class=\"f charStyle-ef51c266 ps14959\">Campari America, LLC <span class=\"f ps21\"> </span></span></div><div class=\"ps20325 ss18\"><span class=\"f charStyle-ef51c266 ps20300\">0.01%</span></div></div></div></td></tr><tr style=\"height:39pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20328 ss1608\"><div><div class=\"ps9448 ss635\"><span class=\"f charStyle-40131897 ps132\">Licorera Ancho Reyes y cia, </span></div><div class=\"ps9449 ss635\"><span class=\"f charStyle-40131897 ps132\">S.A.P.I. de C.V., manufacturing and </span></div><div class=\"ps9450 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20329 ss1608\"><div><div class=\"ps9448 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Paseo de los Tamarindos No. 90 <span class=\"f ps21\"> </span></span></div><div class=\"ps9449 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Edificio Arcos Bosques Torre II-Piso </span></div><div class=\"ps9450 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5C Col. Bosques de las Lomas, </span></div><div class=\"ps9451 ss635\"><span class=\"f charStyle-183bdf94 ps132\">05120, Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20330 ss1609\"><div><div class=\"ps18102 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20332 ss1609\"><div><div class=\"ps18102 ss180\"><span class=\"f charStyle-ef51c266 ps20331\">73,972</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20333 ss1609\"><div><div class=\"ps18102 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20337 ss1610\"><div><div class=\"ps20334 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Espa\u00f1a S.L.U. <span class=\"f ps21\"> </span></span></div><div class=\"ps18116 ss18\"><span class=\"f charStyle-ef51c266 ps17811\">99.99%<span class=\"f ps21\"> </span></span></div><div class=\"ps18102 ss18\"><span class=\"f charStyle-ef51c266 ps18582\">Campari Mexico, S.A. de <span class=\"f ps21\"> </span></span></div><div class=\"ps18117 ss18\"><span class=\"f charStyle-ef51c266 ps20335\">C.V. 0.01%</span></div></div></div></td></tr><tr style=\"height:36pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20338 ss1611\"><div><div class=\"ps2372 ss635\"><span class=\"f charStyle-40131897 ps132\">Casa Montelobos, S.A.P.I. de C.V., </span></div><div class=\"ps2374 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2377 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20339 ss1611\"><div><div class=\"ps2372 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Paseo de los Tamarindos No. 90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Edificio Arcos Bosques Torre II-Piso </span></div><div class=\"ps2377 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5C Col. Bosques de las Lomas, </span></div><div class=\"ps2378 ss635\"><span class=\"f charStyle-183bdf94 ps132\">05120, Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20340 ss1612\"><div><div class=\"ps18074 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20342 ss1612\"><div><div class=\"ps18074 ss180\"><span class=\"f charStyle-ef51c266 ps20341\">5,287,771.00</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20343 ss1612\"><div><div class=\"ps18074 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20346 ss511\"><div><div class=\"ps20344 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Espa\u00f1a S.L.U. <span class=\"f ps21\"> </span></span></div><div class=\"ps18085 ss18\"><span class=\"f charStyle-ef51c266 ps17811\">99.99%<span class=\"f ps21\"> </span></span></div><div class=\"ps18087 ss18\"><span class=\"f charStyle-ef51c266 ps18582\">Campari Mexico, S.A. de <span class=\"f ps21\"> </span></span></div><div class=\"ps20345 ss18\"><span class=\"f charStyle-ef51c266 ps20335\">C.V. 0.01%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20347 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Peru SAC, trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20348 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Av. Jorge Basadre No.607, oficina <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">702, distrito de San Isidro, Lima, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Peru</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20349 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">PEN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20351 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20350\">34,733,589</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20352 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20354 ss1596\"><div><div class=\"ps20187 ss18\"><span class=\"f charStyle-c6dd72c8 ps7974\">Campari Esp\u00e3na S.L.U. </span></div><div class=\"ps20141 ss18\"><span class=\"f charStyle-c6dd72c8 ps20353\">99.92%, Campari do </span></div><div class=\"ps20190 ss18\"><span class=\"f charStyle-c6dd72c8 ps6592\">Brasil Ltda. 0.08%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20355 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Forty Creek Distillery Ltd., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20356 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">297 South Service Road West, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Grimsby, ON L3M 1Y6 Canada</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20357 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">CAD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20358 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">105,500,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20359 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20360 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">J. Wray and Nephew Ltd., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20361 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">23 Dominica Drive, Kingston 5, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Jamaica</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20362 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">JMD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20363 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">750,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20364 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20365 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Esp\u00e3na S.L.U.<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">name of company, activity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20218 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">registered office<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15574 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-ee7239d7 ps20219\">share capital at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-ee7239d7 ps11927\">2025</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12794 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-2977ca59 ps18668\">% owned by</span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-2977ca59 ps20222\">Davide Campari-Milano N.V.</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ee7239d7 ps20223\">indirect ownership <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ee7239d7 ps20224\">through<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20226 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20225\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20228 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20227\">amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20230 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20229\">direct<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20231 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps11966\">Indirect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps2347 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Asia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20366 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari (Beijing) Trading Co. Ltd., </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20367 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Building 1, Level 5, Room 66, 16 <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Chaowai Avenue, Chaoyang </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">District, Beijing, China</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20368 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">CNY<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20369 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">261,896,430<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20370 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps4163 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Australia Pty Ltd., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20371 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Level 21, 141 Walker Street North <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Sydney, 2060, Australia</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20372 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">AUD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20373 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">56,500,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps14520 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:41.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps6443 ss1613\"><div><div class=\"ps9871 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari India Private Ltd., trading </span></div><div class=\"ps9872 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20374 ss1613\"><div><div class=\"ps9870 ss635\"><span class=\"f charStyle-40131897 ps132\">Regus Eversun Business Centre, </span></div><div class=\"ps9871 ss635\"><span class=\"f charStyle-40131897 ps132\">Level 5, Punj Essen House, 17 &amp; </span></div><div class=\"ps9872 ss635\"><span class=\"f charStyle-40131897 ps132\">18, Nehru Place, Delhi 110019, </span></div><div class=\"ps9873 ss635\"><span class=\"f charStyle-40131897 ps132\">India</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20377 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps20375\">INR<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20378 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">172,260<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20379 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20380 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">0.01<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20384 ss1615\"><div><div class=\"ps20381 ss18\"><span class=\"f charStyle-ef51c266 ps18414\">Campari Australia Pty <span class=\"f ps21\"> </span></span></div><div class=\"ps20383 ss18\"><span class=\"f charStyle-ef51c266 ps20382\">Ltd. 0.01%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps3361 ss1601\"><div><div class=\"ps9998 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari New Zealand Limited</span><span class=\"f charStyle-85922b7e ps20385\"><sup>(4)</sup></span><span class=\"f charStyle-40131897 ps20386\">, <span class=\"f ps21\"> </span></span></div><div class=\"ps2551 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20387 ss1601\"><div><div class=\"ps9998 ss635\"><span class=\"f charStyle-40131897 ps132\">Level 5, 60 Parnell Road, Parnell</span></div><div class=\"ps2551 ss635\"><span class=\"f charStyle-40131897 ps132\">Auckland CBD, 1010, New Zealand</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20389 ss1616\"><div><div class=\"ps20388 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">NZD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20390 ss1616\"><div><div class=\"ps20388 ss180\"><span class=\"f charStyle-ef51c266 ps7987\">5,180,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20391 ss1616\"><div><div class=\"ps20388 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20393 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ef51c266 ps18414\">Campari Australia Pty <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ef51c266 ps20392\">Ltd.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps10952 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Singapore Pte Ltd., </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20394 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">152 Beach Road, #24-06, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">1Gateway East, 189721, Singapore </span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20396 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20395\">SGD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20397 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">19,100,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps12870 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20398 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Korea Co. Ltd., trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20399 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5th Floor, 14 Samsung-ro 133-gil <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Gangnam-gu, Seoul, South Korea, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Songpa-gu, Seoul, Korea</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20400 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps18814\">KRW<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20401 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20312\">2,000,000,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20402 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20403 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps2758\">Glen Grant Ltd.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps962 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Japan Limited, trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20404 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">107-0062 Tokyo 1-1-1 Minami-<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Aoyama, Shin Aoyama Bldg West </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">6F, Minato-Ku Japan</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20405 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps6334\">JPY<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20406 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">100,000,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20407 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps20408 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:158.61pt\">The \u20ac12,312,677 represents ordinary share capital.</span></div><div class=\"ps20409 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:282.08pt\">The share capital does not include effects related to the hyperinflation accounting standard.</span></div><div class=\"ps20410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(3)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:57.8pt\"> Inactive company.</span></div><div class=\"ps20411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(4)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.55pt\"> Campari New Zealand Limited, trading company, was previously named Thirsty Camel Limited. Campari 612220 Ltd., previously Campari New Zealand</span><span class=\"f charStyle-40131897 ps413\" style=\"width:1.94pt\"> </span></div><div class=\"ps20412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:133.7pt\">Limited, was liquidated in September 2025.</span></div><div class=\"ps21923 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xii.\u00a0  Share of Profit (Loss) of Joint-Ventures<span id=\"i23cab2adac574659b64fe8dd82174abd\"></span></span><span class=\"f charStyle-6c6fcc93 ps21922\"> and Profit (loss) from other investments </span></div><div class=\"ps21925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps21926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:109.45pt\">Joint-venture recognition</span></div><div class=\"ps21927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">A joint-venture exists where there is a joint-control agreement under which the parties that hold joint control,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">have a right to the net assets covered by the agreement. Joint control is the contractually agreed sharing of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21929 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">control under an agreement, which solely exists when decisions on relevant activities require unanimous</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">consensus from all the parties sharing control. The factors considered to determine significant influence or joint</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21932 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:337.17pt\">control are similar to those necessary to determine control over subsidiaries.</span><span class=\"f charStyle-2293a859 ps21931\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps21933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:121.67pt\">Joint-venture measurement<span class=\"f ps21\"> </span></span></div><div class=\"ps21934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">These companies are initially recognised at cost plus acquisition-related costs and are subsequently reported in</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps21935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">the Consolidated Financial Statements using the equity method from the date on which significant influence or</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21936 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:330.54pt\">joint control commences and ending when that influence or control ceases.</span></div><div class=\"ps21937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">If there is a significant loss of influence or joint control, the holding and/or investment is recognised at fair value</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:488.05pt\">and the difference between the fair value and the carrying amount is recorded in the statement of profit or loss.</span></div><div class=\"ps21939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Any committed payments to increment the ownership interest in a joint-venture, in the form of a put and/or call</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.05pt\">option or a combination of both, cannot be estimated and recorded as a financial liability at the time of the</span><span class=\"f charStyle-2293a859 ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps21941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">transaction since the guidance valid for financial instruments does not apply to interests in joint-ventures that are</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">accounted for using the equity method. These written agreements for put and/or call options are derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21943 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">agreements and represented in the Group accounts as financial instruments measured at fair value with an</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impact in the statement of profit or loss. At the time of expiration of the call and/or put options, the derivative is</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">replaced by an increased value of the investment to be recorded against the cash out for the derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21947 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:51.64pt\">settlement. </span><span class=\"f charStyle-2293a859 ps21946\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps21948 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Contingent or variable and committed payments also in the form of an incentive plan granted to personnel of the</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21949 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">joint-venture are recorded as an incremental cost of the investment once the attainment of the performance</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21950 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.3pt\">condition becomes probable, based on the fair value of the replacement award as of the acquisition date.</span></div><div class=\"ps21951 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">The Group assesses the existence of any impairment indicators whenever events or circumstances indicate that</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21952 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">the carrying amount of the investment may not be recoverable; any impairment loss is allocated to the</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21953 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">investment with effect in the statement of profit or loss. If the Group\u2019s interest in any losses of joint-ventures</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21954 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">exceeds the carrying amount of the equity investment in the financial statements, the value of the equity</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21955 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">investment is derecognised, and the Group\u2019s portion of further losses is not reported, unless, and to the extent</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21957 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:324.37pt\">to which, the Group has a legal or implicit obligation to cover such losses.</span><span class=\"f charStyle-2293a859 ps21956\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps21958 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:27.7pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:82.76pt\"><span style=\"background-color:inherit\">The joint-ventures </span></span><span class=\"f charStyle-bdf8be45 ps21965\" style=\"width:96.12pt\"><span style=\"background-color:inherit\">at 31 December 2025</span></span><span class=\"f charStyle-bdf8be45 ps21966\" style=\"width:139.4pt\"><span style=\"background-color:inherit\"> are listed in the following table.</span></span><span class=\"f charStyle-bdf8be45 ps6031\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps4968 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:141pt\"></td><td style=\"padding:0;width:141pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:51.75pt\"></td></tr><tr style=\"height:18pt\"><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1698\"><div><div class=\"ps9853 ss390\"><span class=\"f charStyle-183bdf94 ps21967\">name, activity<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21969 ss1698\"><div><div class=\"ps9853 ss390\"><span class=\"f charStyle-183bdf94 ps21968\">registered office<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21972 ss1699\"><div><div class=\"ps2415 ss168\"><span class=\"f charStyle-40131897 ps18030\">share capital at 31 December </span></div><div class=\"ps2417 ss168\"><span class=\"f charStyle-40131897 ps21970\">2024</span><span class=\"f charStyle-85922b7e ps21971\"><sup>(1)</sup></span></div></div></div></td><td colspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21975 ss1700\"><div><div class=\"ps2415 ss465\"><span class=\"f charStyle-183bdf94 ps21973\">% owned by the <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss465\"><span class=\"f charStyle-183bdf94 ps21974\">company</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21976 ss1701\"><div><div class=\"ps2415 ss254\"><span class=\"f charStyle-183bdf94 ps12457\">direct <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss254\"><span class=\"f charStyle-183bdf94 ps6317\">shareholder</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21978 ss1702\"><div><div class=\"ps2415 ss465\"><span class=\"f charStyle-183bdf94 ps21977\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21980 ss479\"><div><div class=\"ps2415 ss474\"><span class=\"f charStyle-183bdf94 ps21979\">amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21981 ss479\"><div><div class=\"ps2415 ss474\"><span class=\"f charStyle-183bdf94 ps15093\">direct<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21982 ss479\"><div><div class=\"ps2415 ss474\"><span class=\"f charStyle-183bdf94 ps8949\">indirect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:26.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps3322 ss1703\"><div><div class=\"ps1133 ss390\"><span class=\"f charStyle-40131897 ps21983\">Dioniso S.r.l., holding and trading company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21986 ss1703\"><div><div class=\"ps1135 ss390\"><span class=\"f charStyle-183bdf94 ps21984\">Via Franco Sacchetti, 20 Sesto San <span class=\"f ps21\"> </span></span></div><div class=\"ps1137 ss390\"><span class=\"f charStyle-183bdf94 ps21985\">Giovanni, Milan, Italy</span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21988 ss1704\"><div><div class=\"ps1133 ss168\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\">\u20ac<span style=\"display:inline-block;height:5.09pt;width:52.37pt\"></span></span><span class=\"ps21987\">1,000,000</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21989 ss1705\"><div><div class=\"ps1133 ss474\"><span class=\"f charStyle-183bdf94 ps7978\">50.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps21991 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.31pt\">Data from last approved financial statements.</span></div><div class=\"ps22000 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291pt\"></td><td style=\"padding:0;width:204.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16250 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps21993\">investment in joint-ventures<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12111 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-ba8ac8da ps9291\">8.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Share of profit (loss)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21994 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps9291\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Capital injection<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21995 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps9291\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Disposal<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21997 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps21996\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21998 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps21996\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21999 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-ba8ac8da ps21897\">10.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22003 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291pt\"></td><td style=\"padding:0;width:204.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16250 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps21993\">investment in joint-ventures<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12111 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-ba8ac8da ps21897\">32.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Share of profit (loss)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21994 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps19040\">(34.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Capital injection<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21995 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps22002\">11.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21997 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-ba8ac8da ps9291\">8.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22005 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.23pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps22004\" style=\"width:488.85pt\">The share of result does not include the cost associated with the provision recorded to offset the cumulated losses generated by the Japan joint-venture for</span><span class=\"f charStyle-40131897 ps123\" style=\"width:1.94pt\"> </span></div><div class=\"ps22007 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:37.3pt\">\u20ac0.2 million.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-40131897 ps22006\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:34.14pt\">During </span><span class=\"f charStyle-58d8bcbe ps22009\" style=\"width:164.07pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22010\" style=\"width:111.23pt\">, a capital injection of \u20ac</span><span class=\"f charStyle-58d8bcbe ps22011\" style=\"width:13.89pt\">1.0</span><span class=\"f charStyle-58d8bcbe ps22012\" style=\"width:172.89pt\"> million into the Dioniso joint-venture,</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps17308 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:339.06pt\">equally supported by Mo\u00ebt Hennessy, was completed (\u20ac11.0 million in 2024).</span></div><div class=\"ps22014 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:318.84pt\"><span style=\"background-color:inherit\">The following table includes the breakdown of interests in joint-ventures.</span></span></div><div class=\"ps22056 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:89.25pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:72pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:41.25pt\"></td><td style=\"padding:0;width:69pt\"></td><td style=\"padding:0;width:67.5pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1709\"><div><div class=\"ps979 ss1708\"><span class=\"f charStyle-183bdf94 ps22015\">name of entity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22018 ss1652\"><div><div class=\"ps2776 ss269\"><span class=\"f charStyle-183bdf94 ps22016\">country of <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss269\"><span class=\"f charStyle-183bdf94 ps22017\">business</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22021 ss445\"><div><div class=\"ps2776 ss433\"><span class=\"f charStyle-183bdf94 ps22019\">% of ownership <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss433\"><span class=\"f charStyle-183bdf94 ps22020\">interest</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22022 ss1434\"><div><div class=\"ps979 ss199\"><span class=\"f charStyle-183bdf94 ps11958\">nature of relationship<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22024 ss542\"><div><div class=\"ps2776 ss536\"><span class=\"f charStyle-183bdf94 ps22023\">measurement <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss536\"><span class=\"f charStyle-183bdf94 ps13560\">method</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11744 ss231\"><div><div class=\"ps979 ss214\"><span class=\"f charStyle-183bdf94 ps22025\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14952 ss1710\"><div><div class=\"ps979 ss1244\"><span class=\"f charStyle-183bdf94 ps22026\">carrying amount<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22028 ss1711\"><div><div class=\"ps485 ss1244\"><span class=\"f charStyle-183bdf94 ps22027\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22029 ss220\"><div><div class=\"ps476 ss219\"><span class=\"f charStyle-183bdf94 ps6975\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18738 ss1642\"><div><div class=\"ps476 ss286\"><span class=\"f charStyle-183bdf94 ps4365\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22030 ss220\"><div><div class=\"ps476 ss219\"><span class=\"f charStyle-183bdf94 ps6981\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22032 ss1642\"><div><div class=\"ps476 ss286\"><span class=\"f charStyle-183bdf94 ps22031\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1712\"><div><div class=\"ps485 ss1708\"><span class=\"f charStyle-183bdf94 ps132\">Dioniso Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22033 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-183bdf94 ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22036 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22034\"></span><span class=\"ps22034\">50<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps22035\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22037 ss200\"><div><div class=\"ps6279 ss199\"><span class=\"f charStyle-d669f8f1 ps17720\">Joint-venture<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22039 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps22038\">Equity method<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22040 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps13328\">EUR<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22041 ss220\"><div><div class=\"ps485 ss219\"><span class=\"f charStyle-183bdf94 ps7011\">10.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22042 ss1642\"><div><div class=\"ps485 ss286\"><span class=\"f charStyle-183bdf94 ps20590\">8.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1712\"><div><div class=\"ps485 ss1708\"><span class=\"f charStyle-183bdf94 ps132\">Spiritus Co. Ltd.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22043 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-183bdf94 ps132\">Taiwan<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22047 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-a29ad9d0 ps22044\">'</span><span class=\"f charStyle-40131897 ps22045\">-%</span><span class=\"f charStyle-85922b7e ps22046\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22048 ss200\"><div><div class=\"ps6279 ss199\"><span class=\"f charStyle-d669f8f1 ps17720\">Joint-venture<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22049 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps22038\">Equity method<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22051 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps22050\">TWD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22052 ss220\"><div><div class=\"ps485 ss219\"><span class=\"f charStyle-183bdf94 ps6988\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22053 ss1642\"><div><div class=\"ps485 ss286\"><span class=\"f charStyle-183bdf94 ps20590\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-ba8ac8da ps132\">Total investments in joint-ventures<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22054 ss220\"><div><div class=\"ps485 ss219\"><span class=\"f charStyle-ba8ac8da ps7011\">10.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22055 ss1642\"><div><div class=\"ps485 ss286\"><span class=\"f charStyle-ba8ac8da ps20590\">8.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22057 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:178.78pt\">Investment in Spiritus Co. Ltd. was disposed in July 2025.</span></div><div class=\"ps22058 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:449.34pt\">The key financials, asset and profit or loss figures for the joint-ventures are shown in the tables below.</span></div><div class=\"ps22062 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Highlights-Dioniso Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5024 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps22060\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22061 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps22060\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6072 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6073 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Revenues<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6075 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">46.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6076 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">60.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Net income (loss) of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6078 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6080 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6084\">(63.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Total assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6082 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">49.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6083 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">57.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Net assets from local financial statements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6085 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">35.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6087 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">31.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Adjustments for equity method<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6088 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6084\">(15.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6089 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6084\">(14.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Underlying net assets for Campari Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6090 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">20.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6091 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">17.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Group's share of net assets (50%)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6092 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-ba8ac8da ps6081\">10.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6093 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-ba8ac8da ps4314\">8.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22064 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">On 6 October 2025, Dioniso completed the sale of its stake in Tannico to a private industry player. This decision</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps22065 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">marks the end of its involvement in the Italian online wine and spirits business and follows a strategic</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps22066 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">realignment of priorities jointly undertaken by both partners, Campari Group and Mo\u00ebt Hennessy. The French e-</span></div><div class=\"ps22067 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">commerce platform Ventealapropriete.com will remain within the scope of Dioniso Group (for more information</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22068 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">refer to 'Significant Events of the Year' paragraph in the Management Board Report). The transaction generated</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps22069 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:438.76pt\">a gain of \u20ac4.9 million, reported in the share of profit (loss) of joint-ventures financial statements line.</span></div><div class=\"ps22071 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">In connection with the establishment of the joint-venture in Spiritus Co Ltd., commitments to increment the</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">ownership in the company existed in the form of put and/or call options elected as derivative financial</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:445.81pt\">instruments measured at fair value with impact in the Campari Group statement of profit or loss. </span><span class=\"f charStyle-58d8bcbe ps22072\" style=\"width:17.41pt\">On </span><span class=\"f charStyle-58d8bcbe ps22073\" style=\"width:25.76pt\">17 Ju</span><span class=\"f charStyle-58d8bcbe ps22074\" style=\"width:7.22pt\">ly</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">2025, the Group resolved to exercise the put options. Consequently, the derivatives position was reclassified as</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">an in-flow transaction, enabling the Group to exit the investment, with no material impact on the Group\u2019s</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:39.44pt\">financial </span><span class=\"f charStyle-58d8bcbe ps22075\" style=\"width:56.12pt\">performance</span><span class=\"f charStyle-58d8bcbe ps22076\" style=\"width:2.77pt\">.</span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Under the Profit (loss) from other investments line it is included the losses for \u20ac59.4 million related to operating</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">investments represented by the minority stake in Capevin Holdings Proprietary Limited, a South African holding</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">company. The impairment of the Capevin investment was driven by continued macroeconomic volatility and</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">persistent industry headwinds, including softer consumer spending and lower than expected demand across the</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:105.92pt\">business\u2019s key markets.</span></div><div class=\"ps22384 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Acquisition and Sale of Businesses and Purchase of Non-Controlling Interests<span id=\"i8f33003f0e0242e4a7eb406f0ecf81d7\"></span></span></div><div class=\"ps4310 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:57.71pt\">Accounting </span><span class=\"f charStyle-b96b9181 ps13753\" style=\"width:28.86pt\">policy</span></div><div class=\"ps22386 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:153.9pt\">Business combinations recognition</span></div><div class=\"ps22387 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Business combinations are recorded by applying the acquisition method. Ancillary costs relating to the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps22388 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">transaction are recognised in the statement of profit or loss at the time at which they are incurred. The Group</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22389 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">verifies firstly whether the acquired set of activities and assets meets the definition of a business, and control is</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22390 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">transferred to the Group, meaning that the transaction falls within the definition of a business combination. In</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22391 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">particular, the Group deems an undertaking to be a business only if it is an integrated set of activities and assets</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps22392 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">that includes at least an input and a substantive process which, together, contribute to the ability to create an</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22393 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">output. A business can therefore exist even without the inclusion of all the inputs and processes necessary to</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17286 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">create an output. The Group undertakes this assessment by also applying the option of the \u2018concentration test\u2019</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17499 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:444.37pt\">to simplify the assessment itself for each business combination to segregate asset deal transactions.</span></div><div class=\"ps22394 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Information about the fair value measurement allocated to assets acquired and liabilities assumed in the context</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22396 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:195.42pt\">of the business combination are disclosed. </span><span class=\"f charStyle-2293a859 ps22395\" style=\"width:300.74pt\">Goodwill acquired in business combinations is initially measured at</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22397 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">cost, as the excess of the sum of payments transferred as part of a business combination, the value of the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22398 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">portion of shareholders\u2019 equity relating to non-controlling interests and the fair value of any interest previously</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7857 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">held in the acquired business over the Group\u2019s portion of the net fair value of the identifiable assets, liabilities</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">and contingent liabilities of the acquired company. If the value of the net assets acquired and liabilities assumed</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7860 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">on the acquisition date exceeds the sum of the transferred payments, the value of the non-controlling interests\u2019</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7861 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">portion of shareholders\u2019 equity and the fair value of any interest previously held in the acquired business, this</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7862 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:394.34pt\">excess value is recorded in the statement of profit or loss as income from the transaction.</span><span class=\"f charStyle-2293a859 ps22399\" style=\"width:2.77pt\"> </span></div><div class=\"ps7863 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Any changes in fair value allocation of the net assets acquired occurring once more information related to the</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7864 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">business acquired as per acquisition date becomes available during the measurement period (12 months from</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7865 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:279.96pt\">the date of acquisition), are included retrospectively in goodwill.</span></div><div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:477.92pt\">Definition of the business combination costs and shareholders\u2019 equity attributable to non-controlling interests</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">The cost of an acquisition is determined by the sum of the payments transferred as part of a business</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">combination, measured at fair value, on the acquisition date and at the value of the portion of shareholders\u2019<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">equity relating to non-controlling interests. Non-controlling interests relate to the portion of a consolidated</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">subsidiary shareholders\u2019 equity not directly or indirectly attributable to the Group. At the acquisition date,</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">components of non-controlling interests in the acquiree that are present ownership interests and entitle their</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:462.51pt\">holders to a proportionate share of the entity\u2019s net assets in the event of liquidation, are either measured:</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.03pt\">at the present ownership instruments\u2019 proportionate share in the recognised amounts of the acquiree\u2019s</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.97pt\">identifiable net assets, determined according to the rules set out by the accounting standard for business</span><span class=\"f charStyle-2293a859 ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:56.67pt\">combination;<span class=\"f ps21\"> </span></span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.42pt\">at fair value.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The designated methodology of measurement method of non-controlling interests is made for each business</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">combination on a transaction-by-transaction basis and is specified when the values deriving from the allocation</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:86.67pt\">process are shown.</span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">In the case of call options likely giving the acquirer present access to returns associated with the ownership</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">interest in the shares subject to the call, or in the case of put options granted to non-controlling interests giving</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">present access to the returns associated with the ownership interest in the shares subject to the non-controlling</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">interests put or in the case of a combination of both, it is assumed that the purchase will take place on the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">earliest possible date for the maximum number of shares and the business combination is accounted for as</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">though the acquisition is at 100% interest with the recognition of a financial liability at its fair value measured at</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">the present value of the expected cash outflow to be paid to the non-controlling shareholders at the expiry of the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">option as any contingent consideration; the liability is classified as a financial instrument and considered part of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">the acquisition consideration. Changes in the carrying amount of the financial liability are recognised in the</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.94pt\">statement of profit or loss.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">In the case of put option granted to non-controlling interests at the date of or after acquiring control of a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subsidiary, which does not provide a present ownership interest, the non-controlling interest is recognised on</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:41.67pt\">initial acq</span><span class=\"f charStyle-a0f5a13b ps22400\" style=\"width:454.54pt\">uisition and, under Group policy choice while the non-controlling interests put remains unexercised, the</span><span class=\"f charStyle-a0f5a13b ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps56\" style=\"width:263.3pt\">accounting at the end of each reporting period is as follows:</span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.98pt\">the amount that would have been recognised for the non-controlling interest value is determined by including</span><span class=\"f charStyle-a0f5a13b ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:402.16pt\">allocations of profit or loss, changes in OCI and dividends declared for the reporting period;</span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:336.6pt\">the non-controlling interest is derecognised as if it was acquired at that date;</span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.96pt\">a financial liability is recognised at the present value of the amount payable on exercise of the non-controlling</span><span class=\"f charStyle-a0f5a13b ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:57.2pt\">interests put;</span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:365.31pt\">the Group accounts for the difference between (b) and (c) as an equity transaction.</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">If the non-controlling interests put expires unexercised, the position is unwound so that the non-controlling</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:440.51pt\">interest is recognised at the amount it would have been as if the put option had never been granted.</span><span class=\"f charStyle-2293a859 ps22401\" style=\"width:13.85pt\">\u00a0 \u00a0  </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">In the case of business combinations made in stages, the interest previously held by the Group in the acquired</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">business is revalued at fair value on the date on which the control is acquired, and any resulting gains or losses</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:211.05pt\">are recognised in the statement of profit or loss.</span><span class=\"f charStyle-2293a859 ps22402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:156.11pt\">Goodwill in a business combination</span></div><div class=\"ps7260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">The goodwill acquired in a business combination is allocated to the individual cash-generating units or to the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">groups of cash-generating units likely to benefit from merger synergies, regardless of whether other assets or</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.15pt\">liabilities from the acquisition are assigned to these units or groups of units.</span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">In the event of a business disposal, the goodwill of the cash-generating unit connected to the disposal is</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">included in the carrying value of the net items sold by measuring its relative fair value, having as reference the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:437.7pt\">proceeds from the sale and the most recent fair value attributed to the related cash-generating unit.</span><span class=\"f charStyle-2293a859 ps22403\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:82.78pt\">Business disposal </span><span class=\"f charStyle-ca5f4806 ps22404\" style=\"width:48.9pt\">recognition</span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">The assets and liabilities of the disposal group are classified as held for sale and measured at their relative fair</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">values at the date of classification. Relative fair value is determined reflecting the price that would be received to</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">sell an asset or paid to transfer a liability in an orderly transaction between market participants. The relative fair</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">value method is used to allocate the consideration received proportionally to the fair values of the identifiable</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">assets and liabilities in the disposal group. Where goodwill has been allocated to a cash-generating unit ('CGU')</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">disposed in these circumstances is measured based on the relative values of the disposed operation and the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">portion of the cash-generating unit retained. Any difference between the carrying amount and the allocated fair</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:256.04pt\">value is recognised in profit or loss at the time of disposal.</span></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:201.48pt\">Disposal of Cinzano and Frattina business</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">On 31 October 2025 the closing of the transaction to sell Cinzano vermouth and sparkling wines to the private</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Italian spirits company Caffo Group 1915, the owner of the bitter brand Vecchio Amaro del Capo, announced on</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">26 June 2025, was completed. The disposal included the Frattina grappa and sparkling wine business. In 2024,</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">net sales of Cinzano and Frattina amounted to \u20ac75.0 million, with reported 5% CAGR over the last four years,</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">and accounted for 2% of Campari Group\u2019s overall net sales. Reported CAAP (contribution margin after</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">advertising and promotional expenses) amounted to \u20ac21.0 million. The transaction involved all intellectual</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">property, finished goods inventories, certain employees, some production equipment in Italy, contractual</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">relationships and other related assets. The production facilities in Italy and Argentina, where Campari Group</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">also manufactures other brands, were excluded from the transaction perimeter. The total consideration for the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">business disposal amounted to \u20ac100.0 million. The cash inflow related to net asset sold, including customary</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">price\u2011adjustment mechanisms and excluding the sale of finished goods inventories held by Campari Group</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:202.73pt\">(amounting to \u20ac6.4 million), was \u20ac92.3 million.</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">As part of the transaction and effective from closing, Caffo Group 1915 and Campari Group entered into a</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">transitional manufacturing agreement in Italy and Argentina, as well as temporary distribution agreements</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">whereby Campari Group will continue to distribute Cinzano products in certain markets such as Argentina,</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Spain, Mexico, Russia, South Korea and South Africa, before transitioning to Caffo Group 1915\u2019s commercial</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">footprint. The carrying amount of the net assets subject to disposal was presented separately in the disclosures</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:436.69pt\">on the related financial statements line items, where material. The transaction resulted in a gain of</span><span class=\"f charStyle-58d8bcbe ps22405\" style=\"width:46.1pt\"> \u20ac58.5 mill</span><span class=\"f charStyle-58d8bcbe ps22406\" style=\"width:13.34pt\">ion</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">at closing, in accordance with the applicable financial reporting standards represented under Other income</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">(expenses) from business disposal line (note 3 vi- 'Selling, General and Administrative Expenses and Other</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:211.34pt\">Income and Expenses from business disposal').</span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:216.51pt\">Disposal of Averna and Zedda Piras business</span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">On 18 December 2025, Campari Group reached an agreement to sell the Averna and Zedda Piras business to</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">Illva Saronno Holding S.p.A.. This transaction is valued at \u20ac100.0 million for 100% of the share capital of the</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">newly established company and the finished goods inventory. In 2025, net sales of Averna and Zedda Piras</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:338.76pt\">amounted to \u20ac26.1 million and accounted for 0.9% of Campari Group\u2019s </span><span class=\"f charStyle-58d8bcbe ps22407\" style=\"width:29.45pt\">overall</span><span class=\"f charStyle-58d8bcbe ps22408\" style=\"width:127.94pt\"> net sales. Reported CAAP</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">(contribution margin after advertising and promotional expenses) amounted to \u20ac16.4 million. The sale</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">encompasses all intellectual property, inventories, certain employees and production plants in Sicily and</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Sardinia, as well as goodwill, related assets and contractual relationships. Following closing, Campari Group</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">and Illva Saronno Holding S.p.A. will enter into transitional manufacturing and distribution agreements, allowing</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Campari Group to continue distributing Averna and Zedda Piras in select markets before transitioning to Illva</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Saronno\u2019s commercial footprint. The closing of the transaction is expected during the first half of 2026. In</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">accordance with applicable IFRS, at 31 December 2025 the assets and liabilities of the disposal group were</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">classified as held for sale in Campari Group\u2019s financial statements. No impairment is recognised, as the disposal</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:166.07pt\">is expected to result in a pre-tax gain.</span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:172.05pt\">Disposal of Derrimut bottling facility</span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">As of 21 May 2025, Campari Group, namely Campari Australia Pty Ltd., completed the sale of its bottling facility</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">located in Derrimut, announced in March 2025, to a local manufacturing organisation, Garage Beverages</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">Manufacturing. Garage is a privately owned Australian business which has been manufacturing beverages, from</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">concept to launch, from their site, since 2011. In 2024, the sold business reported net sales of \u20ac15.9 million at</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">Group level. Together with the sale agreement, Campari Group entered into a long-term manufacturing</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">agreement with the buyer for bottling its local products in the same site, aimed at enhancing efficiency and</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">effectiveness. The transaction involved the disposal of assets associated with the bottling plant. The assets</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:282.03pt\">were sold for an agreed price of AUD15.5 million, equivalent to </span><span class=\"f charStyle-58d8bcbe ps22409\" style=\"width:50.79pt\">\u20ac8.8 million</span><span class=\"f charStyle-58d8bcbe ps22410\" style=\"width:163.35pt\"> based on the spot exchange rate as</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">of 31 December 2025. The impact of the above transaction has been recognised in the Group\u2019s financial</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">statements, in compliance with relevant IFRS requirements. The net financial effect was not material to the</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Group\u2019s results for the reporting period and was represented under Other income (expenses) from business</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">disposal line (note 3 vi- 'Selling, General and Administrative Expenses and Other Income and Expenses from</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:86.91pt\">business disposal').</span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Other Non-Current Assets<span id=\"i89d0d697133342faa349ccf8ec3f78a4\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps22776 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Equity investment in other companies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">9.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current receivables from controlling shareholder<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">36.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">98.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22777 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Equity investment in other companies included a 15.4% minority stake in Capevin Holdings Proprietary Limited,</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22778 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">a South African holding company which indirectly owns 100% of CVH Spirits Limited, a Scottish company</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps22779 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">operating in the production and commercialisation of renowned Single Malt Whiskies Bunnahabhain, Deanston,</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.59pt\"> </span></div><div class=\"ps22780 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Tobermory and Ledaig, and Blended Whiskies Scottish Leader and Black Bottle.The investment was decreased</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22781 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">by \u20ac59.4 million in connection with performance suffering the macroeconomic momentum, with the result</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22783 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:391.53pt\">recognised in the share of profit (loss) from other investments, in profit or loss statement.</span><span class=\"f charStyle-3adfeb48 ps22782\" style=\"width:16.62pt\">\u00a0 \u00a0 \u00a0 </span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Shareholders\u2019 Equity Attributable to Non-Controlling Interests<span id=\"i6ddebcb4bc494d54b2188a174807a082\"></span></span></div><div class=\"ps1254 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">For accounting policy over non-controlling interests relating to the portion of a subsidiary\u2019s shareholders\u2019 equity</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">that is not directly or indirectly attributable to the Group, please refer to note 4 i \u2018Acquisition and sale of</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:238.34pt\">businesses and purchase of non-controlling interests\u2019.</span></div><div class=\"ps1266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure<span class=\"f ps21\"> </span></span></div><div class=\"ps1267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:257.19pt\">The changes during the year are reflected in the following </span><span class=\"f charStyle-58d8bcbe ps25712\" style=\"width:21.67pt\">table</span><span class=\"f charStyle-58d8bcbe ps25713\" style=\"width:2.77pt\">.</span></div><div class=\"ps10315 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:111pt\"></td><td style=\"padding:0;width:96pt\"></td><td style=\"padding:0;width:96pt\"></td><td style=\"padding:0;width:96pt\"></td><td style=\"padding:0;width:96pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss525\"><div><div class=\"ps2776 ss518\"><span class=\"f charStyle-183bdf94 ps132\">non-controlling interests<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss518\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25716 ss1897\"><div><div class=\"ps2776 ss1669\"><span class=\"f charStyle-183bdf94 ps25714\">Bellonnie et<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1669\"><span class=\"f charStyle-183bdf94 ps25715\">Bourdillon group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4586 ss1897\"><div><div class=\"ps979 ss1669\"><span class=\"f charStyle-183bdf94 ps25717\">Wilderness Trail Distillery<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25718 ss1897\"><div><div class=\"ps979 ss1669\"><span class=\"f charStyle-183bdf94 ps575\">Courvoisier Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18448 ss1897\"><div><div class=\"ps979 ss1669\"><span class=\"f charStyle-183bdf94 ps25719\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25721 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4595 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25723 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25724 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">net result<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25726 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25725\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4607 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25727\">(12.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25728 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25729 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25727\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">translation difference<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25730 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4617 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25727\">(19.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25731 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25732 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25727\">(19.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25733 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25720\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25734 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25720\">2.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25735 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25736 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25720\">2.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">reclassification to group net equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25737 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25739 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25738\">29.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25740 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25741 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25738\">29.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25742 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25743 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25744 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25745 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25799 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:111pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss877\"><div><div class=\"ps5026 ss518\"><span class=\"f charStyle-183bdf94 ps132\">non-controlling interests<span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss518\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25716 ss1373\"><div><div class=\"ps2578 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Bellonnie et<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Bourdillon <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss46\"><span class=\"f charStyle-183bdf94 ps132\">group</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1130 ss1373\"><div><div class=\"ps2578 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Ancho Reyes <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss46\"><span class=\"f charStyle-183bdf94 ps132\">and </span></div><div class=\"ps2580 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Montelobos</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25746 ss1373\"><div><div class=\"ps5026 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Trans <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Beverages</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16213 ss1373\"><div><div class=\"ps5026 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Trail Distillery</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1072 ss1373\"><div><div class=\"ps5026 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Thirsty Camel <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Ltd.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11961 ss1373\"><div><div class=\"ps5026 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Courvoisier <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Group</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps12796 ss1373\"><div><div class=\"ps13338 ss46\"><span class=\"f charStyle-183bdf94 ps132\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7726 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25747 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25748 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25749 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25750 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25751 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25752 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25753 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">1.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2968 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">net result<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25754 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25755 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25756 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25757 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(4.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15796 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25758 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps25759 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5727 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">translation difference<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25760 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25761 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25762 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25763 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6862\">10.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps15748 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25764 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25765 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6862\">10.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5196 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">perimeter effect for acquisition<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25766 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25767 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25768 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25769 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14022 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25770 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25771 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps924 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25772 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25773 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25774 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25775 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25776 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25777 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25778 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">2.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps928 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">dividends<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25779 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25780 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25781 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25782 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25783 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25784 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25785 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6443 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">reclassification to group net equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25786 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25787 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25788 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25789 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(7.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25790 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25791 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25792 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(3.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7572 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25793 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25794 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25795 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25796 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15751 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25797 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25798 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25816 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:201pt\"></td><td style=\"padding:0;width:81.75pt\"></td><td style=\"padding:0;width:106.5pt\"></td><td style=\"padding:0;width:106.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">Company name<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18720 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25800\">Country of business<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24382 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94 ps25801\">% of minority interest 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24384 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94 ps25801\">% of minority interest 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">Bellonnie et Bourdillon group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18726 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25802\">Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24961 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">1.17</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25805 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">3.47</span><span class=\"ps25804\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness Trail Distillery, LLC<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14475 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps23494\">United States<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25806 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">30.0</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25807 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">30.0</span><span class=\"ps25804\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">SCEA Domaine Guilloteau<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14483 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25808\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25809 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">15.0</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25810 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">15.0<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">SICA des Baronnies de Jarnac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14495 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25808\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25811 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">83.6</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25812 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">83.6<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">SICA Quinze des Borderies et Champagnes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14506 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25808\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25813 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">94.6</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25814 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">94.6<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">Association Coop\u00e9rative des Bouilleurs de Cru<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps14517 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25808\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps24987 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">98.0</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25815 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">98.0<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">The financial statements of the subsidiaries shown below are based on the same accounting standards applied</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps25820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:61.64pt\">for the Group.</span><span class=\"f charStyle-58d8bcbe ps25819\" style=\"width:2.77pt\"> </span></div><div class=\"ps25863 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:173.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td></tr><tr style=\"height:36pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1902\"><div><div class=\"ps1083 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">for the year ended 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8954 ss1903\"><div><div class=\"ps2374 ss618\"><span class=\"f charStyle-183bdf94 ps6491\">total non-controlling <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss618\"><span class=\"f charStyle-183bdf94 ps25822\">interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20844 ss1903\"><div><div class=\"ps2374 ss618\"><span class=\"f charStyle-183bdf94 ps14963\">Bellonnie et Bourdillon <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss618\"><span class=\"f charStyle-183bdf94 ps25823\">group</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25825 ss1903\"><div><div class=\"ps2374 ss618\"><span class=\"f charStyle-183bdf94 ps24724\">Wilderness Trail <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss618\"><span class=\"f charStyle-183bdf94 ps25824\">Distillery</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24097 ss1903\"><div><div class=\"ps1083 ss618\"><span class=\"f charStyle-183bdf94 ps23495\">Courvoisier Group<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps10737 ss1904\"><div><div class=\"ps485 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Net sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8985 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">85.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20861 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">20.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25828 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">2.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25829 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">64.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps1089 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Profit (loss) for the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25831 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25830\">(67.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps20871 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25832\">(11.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:1pt solid #000;padding:0\"><div class=\"ps25833 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25830\">(45.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:1pt solid #000;padding:0\"><div class=\"ps25835 ss1905\"><div><div class=\"ps485 ss618\"><span class=\"f charStyle-ba8ac8da ps25834\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps5494 ss1906\"><div><div class=\"ps1094 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Profit (loss) for the period <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">attributable to non-controlling interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25836 ss628\"><div><div class=\"ps473 ss618\"><span class=\"f charStyle-ba8ac8da ps25830\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps20885 ss628\"><div><div class=\"ps473 ss618\"><span class=\"f charStyle-ba8ac8da ps25834\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:1pt solid #000;padding:0\"><div class=\"ps25837 ss628\"><div><div class=\"ps473 ss618\"><span class=\"f charStyle-ba8ac8da ps25830\">(12.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt solid #000;padding:0\"><div class=\"ps25838 ss628\"><div><div class=\"ps473 ss618\"><span class=\"f charStyle-183bdf94 ps21514\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9031 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">218.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20896 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">54.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25840 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">43.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25841 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">52.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps9042 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">563.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25842 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">59.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25843 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">436.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25844 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps9054 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">140.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25845 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">32.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25846 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">14.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25847 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">44.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Non-current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps9067 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">8.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25848 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25849 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25850 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">8.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps6300 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Net assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25851 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">633.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25852 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">79.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25853 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">462.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25854 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps5134 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Net assets attributable to non-controlling interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25855 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25839\">156.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25856 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25857 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25839\">138.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;padding:0\"><div class=\"ps25858 ss1905\"><div><div class=\"ps485 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1907\"><div><div class=\"ps13336 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Of which represented as non-controlling interest <span class=\"f ps21\"> </span></span></div><div class=\"ps13337 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">in Campari Group statement </span></div><div class=\"ps13338 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">of changes in shareholders' equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25859 ss1908\"><div><div class=\"ps13338 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25860 ss1908\"><div><div class=\"ps13338 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25861 ss1908\"><div><div class=\"ps13338 ss618\"><span class=\"f charStyle-ba8ac8da ps21514\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25862 ss1908\"><div><div class=\"ps13338 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:173.25pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:48pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1907\"><div><div class=\"ps2579 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">for the year ended 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8954 ss1655\"><div><div class=\"ps2578 ss269\"><span class=\"f charStyle-183bdf94 ps25864\">total non-<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss269\"><span class=\"f charStyle-183bdf94 ps25865\">controlling </span></div><div class=\"ps2580 ss269\"><span class=\"f charStyle-183bdf94 ps25866\">interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps16234 ss1655\"><div><div class=\"ps2578 ss269\"><span class=\"f charStyle-183bdf94 ps25867\">Bellonnie et <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss269\"><span class=\"f charStyle-183bdf94 ps25868\">Bourdillon </span></div><div class=\"ps2580 ss269\"><span class=\"f charStyle-183bdf94 ps25869\">group</span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14807 ss1655\"><div><div class=\"ps2578 ss269\"><span class=\"f charStyle-183bdf94 ps25870\">Ancho <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss269\"><span class=\"f charStyle-183bdf94 ps4513\">Reyes and </span></div><div class=\"ps2580 ss269\"><span class=\"f charStyle-183bdf94 ps18328\">Montelobos</span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25872 ss1655\"><div><div class=\"ps2578 ss269\"><span class=\"f charStyle-183bdf94 ps25871\">Trans <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss269\"><span class=\"f charStyle-183bdf94 ps4513\">Beverages </span></div><div class=\"ps2580 ss269\"><span class=\"f charStyle-183bdf94 ps21376\">Co</span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25874 ss1655\"><div><div class=\"ps2578 ss269\"><span class=\"f charStyle-183bdf94 ps4264\">Wilderness <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss269\"><span class=\"f charStyle-183bdf94 ps4361\">Trail </span></div><div class=\"ps2580 ss269\"><span class=\"f charStyle-183bdf94 ps25873\">Distillery</span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25875 ss1655\"><div><div class=\"ps5026 ss269\"><span class=\"f charStyle-183bdf94 ps18373\">Thirsty <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss269\"><span class=\"f charStyle-183bdf94 ps25865\">Camel Ltd</span></div></div></div></td><td style=\"border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps13609 ss1863\"><div><div class=\"ps5026 ss655\"><span class=\"f charStyle-183bdf94 ps25876\">Courvoisier <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss655\"><span class=\"f charStyle-183bdf94 ps25877\">Group</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps2968 ss1904\"><div><div class=\"ps485 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Net sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25878 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4690\">112.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25879 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25880 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">7.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25881 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">21.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25882 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">31.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25883 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">19.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24227 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps11680\">35.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps5727 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Profit (loss) for the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25884 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24224\">(37.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25885 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24224\">(10.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25886 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(4.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25887 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25888 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(6.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25889 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(4.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;padding:0\"><div class=\"ps24235 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-ba8ac8da ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5196 ss1906\"><div><div class=\"ps1094 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Profit (loss) for the period <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">attributable to non-controlling interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25890 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25891 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25892 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25893 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25894 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(4.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25895 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24245 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps510 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25896 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">221.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25897 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">58.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25898 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">14.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25899 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">17.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25900 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">47.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25901 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">21.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25902 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps11680\">55.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps515 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25903 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">659.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25904 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">50.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25905 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">5.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25906 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25907 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">541.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25908 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">5.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25910 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps25909\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps8324 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25911 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">284.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25912 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">85.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25913 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">22.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25914 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">13.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25915 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps3320\">11.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25916 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">28.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25917 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps11680\">54.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps5120 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Non-current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25918 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps3320\">11.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25919 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">2.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25920 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25921 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25922 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">4.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25923 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25924 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps25909\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps3384 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Net assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25925 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">585.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25926 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">21.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25927 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(3.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25928 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">4.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25929 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">572.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25930 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(3.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;padding:0\"><div class=\"ps25931 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-ba8ac8da ps25909\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25932 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Net assets attributable to non-controlling interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25933 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps4615\">170.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25934 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps24301\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25935 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25936 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps24301\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25937 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps4615\">171.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25938 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25939 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-ba8ac8da ps25909\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20258 ss1907\"><div><div class=\"ps13336 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Of which represented as non-controlling interest <span class=\"f ps21\"> </span></span></div><div class=\"ps13337 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">in Campari Group statement </span></div><div class=\"ps13338 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">of changes in shareholders' equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25940 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps24301\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25941 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps24301\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25942 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps11724\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25943 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps11724\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25944 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps11724\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25945 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps11724\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25946 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-ba8ac8da ps25909\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25947 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">viii.\u00a0  Transactions with Non-Controlling Interests<span id=\"icc785a6017b746c0810a1d3eda4304f5\"></span></span></div><div class=\"ps1285 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:278.84pt\">There were no other transactions with non-controlling interests </span><span class=\"f charStyle-58d8bcbe ps25948\" style=\"width:143.89pt\">for the year ended 31 December</span><span class=\"f charStyle-58d8bcbe ps25949\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-58d8bcbe ps25950\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps25951\" style=\"width:2.77pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-436": {
   "value": "<div class=\"ps20082 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Principles of Control and Consolidation<span id=\"i921f898eafd94c6ba0764a22f89e2c83\"></span></span></div><div class=\"ps20083 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:95.88pt\">Principles of control<span id=\"ia50511d7696d4bbf8f1a6ae08e2497fa\"></span></span></div><div class=\"ps1204 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">Control is determined when the Group is exposed to or has a right to variable returns resulting from its</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1205 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">involvement with the investee, and, at the same time, has the ability to use its power over the investee to affect</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1206 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:61.1pt\">these returns.</span></div><div class=\"ps1207 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:278.6pt\">Specifically, the Group controls a business if, and only if, it has:</span></div><div class=\"ps1208 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.95pt\">power over the investee (or holds valid rights that give it the actual ability to manage significant activities of</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1209 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:59.99pt\">the investee);<span class=\"f ps21\"> </span></span></div><div class=\"ps1210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:374.91pt\">exposure or rights to variable returns resulting from its involvement with the investee;</span></div><div class=\"ps1211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:329.68pt\">the ability to use its power over the investee to affect the size of its returns.</span></div><div class=\"ps1212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Generally, control is assumed to exist when the Group possesses a majority of the voting rights. In support of</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps25 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">this assumption and when the Group holds less than the majority of the voting rights (or similar rights), the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps26 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Group considers all relevant facts and circumstances in assessing whether it controls the investee, including</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps27 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">contractual arrangements with other holders of voting rights, rights arising from contractual arrangements, and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps28 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:227.55pt\">the Group\u2019s voting rights and potential voting rights.</span></div><div class=\"ps29 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The Group reassesses whether or not it controls a subsidiary if facts and circumstances indicate that one or</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps30 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">more of the three significant elements defining control have changed. Consolidation of a subsidiary begins when<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps31 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">the Group obtains direct or indirect control of that subsidiary (or through one or more other subsidiaries) and</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps32 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">ceases when the Group loses control therefrom. The assets, liabilities, revenues and costs of the subsidiary</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps33 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">acquired or disposed of over the year are included in the Consolidated Financial statements from the date on</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps34 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">which the Group obtains control until the date on which the Group no longer exercises control over the</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps35 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:42.6pt\">company.</span></div><div class=\"ps36 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Changes in investments in subsidiaries that do not result in acquisition or loss of control are recorded as</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps37 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:142.24pt\">changes in shareholders\u2019 equity.</span></div><div class=\"ps38 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">If the Group loses control of a subsidiary, the related assets (including goodwill), liabilities, non-controlling</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps39 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">interests and other components of shareholders\u2019 equity are derecognised, while any gain or loss is recognised</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps40 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:406.55pt\">in the statement of profit or loss. Any ownership interest maintained is recorded at fair value.</span></div><div class=\"ps20084 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:127.04pt\">Principles of consolidation<span id=\"i12ee6f5ae588463eb48d58ae255b4b03\"></span></span></div><div class=\"ps18173 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">The Consolidated Financial statements include the financial statements of the Parent Company and of the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps18174 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Italian and foreign subsidiaries. All subsidiaries are consolidated on a line-by-line basis. The carrying amount of</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps18175 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">the investments in subsidiaries is derecognised against the corresponding portion of the shareholders\u2019 equity of</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps18176 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">the subsidiaries. At the first consolidation stage, individual assets and liabilities are measured at fair value in the</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps12992 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">context of the purchase price allocation at the date control was acquired. Any residual positive difference in the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps11565 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">allocation is recorded under the asset item \u2018goodwill\u2019, and any negative amount is allocated to the statement of</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:57.19pt\">profit or loss.</span></div><div class=\"ps12994 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The subsidiaries\u2019 financial statements are based on the same financial year as the Parent Company and drawn</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps12995 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">up for the purposes of consolidation. When necessary, appropriate adjustments are made to subsidiaries\u2019</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps12999 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">financial statements to bring them into line with the Group\u2019s accounting policies. Joint-ventures are measured by</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps13001 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:122.22pt\">applying the equity method.</span></div><div class=\"ps13002 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">When preparing the Consolidated Financial statements, unrealised gains and losses resulting from intra-group</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1867 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">transactions are derecognised, as are the entries giving rise to payables and receivables, and costs and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps13004 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">revenues between the companies included in the basis of consolidation. All intra-group assets and liabilities,</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps13005 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">shareholders\u2019 equity, revenues, costs and cash flow relating to transactions between Group entities are fully</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps13006 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">derecognised on consolidation. All remaining assets and liabilities, expenses and revenues of the subsidiaries<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps13007 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">are fully reflected in the Consolidated Financial statements. Unrealised gains and losses generated on<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps13008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">transactions with joint-ventures are derecognised to the extent of the Group\u2019s percentage interest in those</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps13009 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:355.58pt\">companies. Dividends collected from consolidated companies are derecognised.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">The profit (loss) for the year and all other components of the statement of other comprehensive income are</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">attributed to the shareholders of the Parent Company and to non-controlling interests, even if this results in non-<span class=\"f ps21\"> </span></span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">controlling interests having a negative value. Non-controlling interests in shareholders\u2019 equity and related results</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:354.94pt\">are reported under the appropriate line items in the primary financial statements.</span></div><div class=\"ps20086 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:106.28pt\">Basis of consolidation<span id=\"i98247008acdf478690a08db6c7d05a73\"></span></span><span class=\"f charStyle-562c451e ps20085\" style=\"width:3.05pt\"> </span></div><div class=\"ps20088 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The following change was made to the basis of consolidation, resulting from the acquisitions and reorganization</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps20090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:62.22pt\">of companies:</span><span class=\"f charStyle-d01d3980 ps20089\" style=\"width:3.33pt\"> </span></div><div class=\"ps20091 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">on 17 September 2025 Campari 612220 Ltd, previously named Campari New Zealand Limited, completed</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps20092 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:245.53pt\">the liquidation process in line with local applicable laws;</span></div><div class=\"ps20093 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">on 1 November 2025, Soci\u00e9t\u00e9 des Produits Marnier Lapostolle S.A.S. was merged within Campari France</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps20094 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.99pt\">S.A.S. with the aim of optimizing and streamlining the Group\u2019s structure. For statutory and tax purposes, the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps16941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:216.45pt\">effective date of the merger was 1 January 2025.</span></div><div class=\"ps20099 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:278.28pt\">The following tables list the companies included in the basis of </span><span class=\"f charStyle-58d8bcbe ps20096\" style=\"width:58.35pt\">consolidation</span><span class=\"f charStyle-58d8bcbe ps20097\" style=\"width:13.87pt\"> at </span><span class=\"f charStyle-58d8bcbe ps20098\" style=\"width:85.02pt\">31 December 2025</span><span class=\"f charStyle-58d8bcbe ps2489\" style=\"width:2.77pt\">.</span></div><div class=\"ps20232 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">name of company, activity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20218 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">registered office<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15574 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-ee7239d7 ps20219\">share capital at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-ee7239d7 ps11927\">2025</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12794 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-2977ca59 ps18668\">% owned by</span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-2977ca59 ps20222\">Davide Campari-Milano N.V.</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ee7239d7 ps20223\">indirect ownership <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ee7239d7 ps20224\">through<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20226 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20225\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20228 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20227\">amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20230 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20229\">direct<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20231 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps11966\">Indirect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:54.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2347 ss1589\"><div><div class=\"ps20101 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Davide Campari-Milano N.V., <span class=\"f ps21\"> </span></span></div><div class=\"ps13585 ss635\"><span class=\"f charStyle-183bdf94 ps132\">holding, trading and manufacturing </span></div><div class=\"ps20102 ss635\"><span class=\"f charStyle-183bdf94 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20105 ss1589\"><div><div class=\"ps20103 ss635\"><span class=\"f charStyle-40131897 ps132\">legal domicile: Amsterdam </span></div><div class=\"ps20101 ss635\"><span class=\"f charStyle-40131897 ps132\">(Netherlands)</span></div><div class=\"ps13585 ss635\"><span class=\"f charStyle-40131897 ps132\">corporate address: Via Franco </span></div><div class=\"ps20102 ss635\"><span class=\"f charStyle-40131897 ps132\">Sacchetti 20, 20099 Sesto San </span></div><div class=\"ps20104 ss635\"><span class=\"f charStyle-40131897 ps132\">Giovanni, Milan, Italy.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20108 ss1590\"><div><div class=\"ps20107 ss180\"><span class=\"f charStyle-ef51c266 ps20106\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20111 ss1590\"><div><div class=\"ps20107 ss180\"><span class=\"f charStyle-c6dd72c8 ps20109\">12,312,677</span><span class=\"f charStyle-c069816f ps20110\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td colspan=\"7\" style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1096 ss1591\"><div><div class=\"ps20112 ss49\"><span class=\"f charStyle-ee7239d7 ps12286\">Fully consolidated companies<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps14014 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps5110 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari International S.r.l., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps20113 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Via Franco Sacchetti 20, 20099 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Sesto San Giovanni; Milan, Italy</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps20116 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac700,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"><div class=\"ps20118 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps8618 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Mixology S.r.l., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20120 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Piazza Duomo 21, 20121 Milan, </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20122 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20121\">\u20ac68,880</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20123 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Europe and Africa<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Austria GmbH, trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20124 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Naglergasse 1/Top 13,1010 Wien, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Austria<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20125 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac500,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20126 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps10236 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Benelux S.A., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20127 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Rue aux Laines 68-72, 1000 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Bruxelles, Belgium<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20129 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac1,000,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps14614 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">61.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20130 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">38.99<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20131 ss513\"><div><div class=\"ps20115 ss18\"><span class=\"f charStyle-ef51c266 ps18053\">Glen Grant Ltd. 38.99%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps7047 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Deutschland GmbH, </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20132 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Adelgundenstr. 7 Munich, 80538 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Germany</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20133 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac5,200,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20134 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20135 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Espa\u00f1a S.L.U., holding </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20136 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Calle de la Marina 16-18, planta 29, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Barcelona, Spain</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20137 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac4,279,331</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20138 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps10085 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari RUS LLC, trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20139 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">115088, Moscow, 2nd <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Yuzhnoportovy proezd, 14/22, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Russia</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20142 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">RUB<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20144 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">210,000,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20145 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20147 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Schweiz A.G., trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20148 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Lindenstrasse 8, 6341 Baar, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Switzerland</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20150 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">CHF<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20151 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">500,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20152 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2412 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Ukraine LLC, trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20153 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">8, Illinska Street, 5 Floor, block 8 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">and 9, Kiev, 4070 Ukraine</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20154 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">UAH<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20155 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">87,396,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20156 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">99.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20157 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">1.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20158 ss513\"><div><div class=\"ps20115 ss18\"><span class=\"f charStyle-ef51c266 ps8247\">Campari RUS LLC 1%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20159 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Glen Grant Ltd., manufacturing and </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20160 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Glen Grant Distillery, Elgin Road, <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Rothes, Morayshire, AB38 7BS, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">United Kingdom</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20161 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">GBP<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20162 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">164,949,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20163 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20164 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Hellas Single Member </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Societe Anonyme, manufacturing </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20165 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">6 and E Street, A\u2019 Industrial Area, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">38500 Volos, Greece</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20166 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac6,811,220</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20167 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20168 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari France S.A.S., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20169 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">14 rue Montalivet 75008 Paris, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20170 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps9116\">\u20ac263,298,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20172 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20173 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Bellonnie et Bourdillon </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Successeurs S.A.S., manufacturing </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20174 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Zone de G\u00e9nipa, 97224,</span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">Ducos, Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20176 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20175\">\u20ac15,100,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20177 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.83<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20181 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps20178\">Campari France <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps6493\">S.A.S.98.83%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20182 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Distilleries Agricole de Sainte Luce </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">S.A.S., agricultural production </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company </span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20183 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Zone de G\u00e9nipa, 97224,</span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">Ducos, Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20184 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac4,999,861</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20185 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.83<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20191 ss1596\"><div><div class=\"ps20187 ss18\"><span class=\"f charStyle-ef51c266 ps20186\">Bellonnie et Bourdillon <span class=\"f ps21\"> </span></span></div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps20188\">Successeurs S.A.S. </span></div><div class=\"ps20190 ss18\"><span class=\"f charStyle-ef51c266 ps20189\">100%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps19559 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">SCEA Trois Rivi\u00e8res, agricultural </span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">service company </span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20192 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">Zone de G\u00e9nipa, 97224,</span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">Ducos, Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20195 ss1598\"><div><div class=\"ps20194 ss1468\"><span class=\"f charStyle-ef51c266 ps20193\">\u20ac5,920</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20196 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.83<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20204 ss1600\"><div><div class=\"ps20197 ss18\"><span class=\"f charStyle-ef51c266 ps20186\">Bellonnie et Bourdillon <span class=\"f ps21\"> </span></span></div><div class=\"ps20199 ss18\"><span class=\"f charStyle-ef51c266 ps20198\">Successeurs S.A.S. 25%\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  </span></div><div class=\"ps20201 ss18\"><span class=\"f charStyle-ef51c266 ps20200\">Distilleries Agricoles de </span></div><div class=\"ps20203 ss18\"><span class=\"f charStyle-ef51c266 ps20202\">Sainte Luce S.A.S 75%</span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20205 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Champagne Lallier S.A.S., </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20206 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4 Place de la Lib\u00e9ration, 51160, Ay, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20207 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac5,000,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20208 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20211 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps5306\">Campari France S.A.S. <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20189\">100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20212 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Eric Luc, manufacturing and </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">property company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20213 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5 rue Ritterbandt, 51160, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Ay, France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20214 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac700,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20215 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">95.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20217 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps5306\">Campari France S.A.S. <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20216\">95%<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">name of company, activity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20218 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">registered office<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15574 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-ee7239d7 ps20219\">share capital at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-ee7239d7 ps11927\">2025</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12794 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-2977ca59 ps18668\">% owned by</span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-2977ca59 ps20222\">Davide Campari-Milano N.V.</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ee7239d7 ps20223\">indirect ownership <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ee7239d7 ps20224\">through<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20226 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20225\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20228 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20227\">amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20230 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20229\">direct<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20231 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps11966\">Indirect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2347 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Courvoisier S.A.S., manufacturing </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">and trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20105 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">2 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20108 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps9116\">\u20ac168,100,293</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20233 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20234 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps5306\">Campari France S.A.S. <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20189\">100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps3332 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">L. De Salignc &amp; CIE, trading </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20235 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">2 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20236 ss1592\"><div><div class=\"ps20115 ss1468\"><span class=\"f charStyle-ef51c266 ps20128\">\u20ac1,143,750</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20237 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20239 ss513\"><div><div class=\"ps20115 ss18\"><span class=\"f charStyle-ef51c266 ps20238\">Courvoisier S.A.S 100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps11246 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Distillerie Charentaise Jubert </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">S.A.S., manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20240 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">12 rue Guy Barat, 16120 <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Ch\u00e2teauneuf-Sur-Charente, France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20241 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac329,400</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20242 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20243 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps20238\">Courvoisier S.A.S 100%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps8003 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">SCEA Domaine Guilloteau, </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">agricultural production company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20244 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">16 rue de la Croix, Les Basses <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Champagn\u00e8res, 16200 Les </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">M\u00e9tairies, France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20245 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20121\">\u20ac10,000</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20246 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">85.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20248 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps20247\">Courvoisier S.A.S 85%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps8335 ss1604\"><div><div class=\"ps1143 ss635\"><span class=\"f charStyle-40131897 ps132\">SICA Des Baronnies de Jarnac, </span></div><div class=\"ps1145 ss635\"><span class=\"f charStyle-40131897 ps132\">agricultural production company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20249 ss1604\"><div><div class=\"ps1143 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps1145 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20251 ss1605\"><div><div class=\"ps20250 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac116,720</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20252 ss1606\"><div><div class=\"ps20250 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">16.38<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20257 ss1607\"><div><div class=\"ps20254 ss18\"><span class=\"f charStyle-ef51c266 ps20253\">Courvoisier S.A.S 8.19%<span class=\"f ps21\"> </span></span></div><div class=\"ps20250 ss18\"><span class=\"f charStyle-ef51c266 ps9102\">Distillerie Charentaise <span class=\"f ps21\"> </span></span></div><div class=\"ps20256 ss18\"><span class=\"f charStyle-ef51c266 ps20255\">Jubert S.A.S. 8.19%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20258 ss1597\"><div><div class=\"ps10703 ss635\"><span class=\"f charStyle-40131897 ps132\">SICA Quinze des Borderies et </span></div><div class=\"ps10701 ss635\"><span class=\"f charStyle-40131897 ps132\">Champagnes, agricultural </span></div><div class=\"ps10704 ss635\"><span class=\"f charStyle-40131897 ps132\">production company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20259 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4 place du Ch\u00e2teau, 16200 Jarnac, <span class=\"f ps21\"> </span></span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20260 ss1598\"><div><div class=\"ps20194 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac164,121</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20261 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">5.42<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20262 ss1600\"><div><div class=\"ps20197 ss18\"><span class=\"f charStyle-ef51c266 ps20253\">Courvoisier S.A.S 3.61%<span class=\"f ps21\"> </span></span></div><div class=\"ps20199 ss18\"><span class=\"f charStyle-ef51c266 ps9102\">Distillerie Charentaise <span class=\"f ps21\"> </span></span></div><div class=\"ps20201 ss18\"><span class=\"f charStyle-ef51c266 ps20255\">Jubert S.A.S. 1.81%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20263 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Association Coop\u00e9rative des </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Bouilleurs de Cru, agricultural </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">production company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20264 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">2 place Du Chateau, 16200 Jarnac <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">France</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20265 ss1595\"><div><div class=\"ps20141 ss1468\"><span class=\"f charStyle-ef51c266 ps20114\">\u20ac251,436</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20266 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">1.96<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20268 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps2687\">SCEA Domaine <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20267\">Guilloteau 2.30%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps7053 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari South Africa Pty Ltd., </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20269 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">2nd Floor ICR House Alphen Park, </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Constantia main road, Constantia, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">Western Cape 7806, South Africa</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20271 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20270\">ZAR<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20272 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">235,247,750<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20273 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20274 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Espa\u00f1a S.L.U.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps19385 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps13674 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari America, LLC, </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20275 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">1114 Avenue of the Americas, 19th <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Floor New York, 10036 United </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">States</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20276 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20277 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">626,321,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20278 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps2708 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Wilderness Trail Distillery, LLC, </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">holding company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20279 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4095 Lebanon Road Danville, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Kentucky 40422 United States</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20280 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20282 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20281\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20283 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">70.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20284 ss513\"><div><div class=\"ps20209 ss18\"><span class=\"f charStyle-ef51c266 ps14696\">Campari America LLC <span class=\"f ps21\"> </span></span></div><div class=\"ps20210 ss18\"><span class=\"f charStyle-ef51c266 ps20216\">70%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps15818 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Wilderness Trace Distillery, LLC, </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20285 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">4095 Lebanon Road Danville, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Kentucky 40422 United States</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20286 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20287 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20281\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20288 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">70.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20291 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps20289\">Wilderness Trail Distillery, <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20290\">LLC 100%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps4726 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Argentina S.A., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20292 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Tucuman, Piso 4 1107 Buenos </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">Aires, Ciudad de Buenos Aires</span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">Argentina</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20293 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">ARS<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20297 ss1594\"><div><div class=\"ps20296 ss180\"><span class=\"f charStyle-b04ca002 ps20294\">1,179,665,930</span><span class=\"f charStyle-cb7d1392 ps20295\"><sup>(2)</sup></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20298 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">98.81<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20299 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">1.19<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20301 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps19613\">Campari do Brasil Ltda. <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20300\">1.19%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps13947 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari do Brasil Ltda., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20302 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Alameda Rio Negro 585, Edificio <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Demini, Conjunto 62, Alphaville-<span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Barueri-SP, Brasil<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20303 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8557\">BRL<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20304 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">36,870,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20305 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">99.9999<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20306 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20281\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20308 ss1596\"><div><div class=\"ps20179 ss18\"><span class=\"f charStyle-ef51c266 ps8247\">Campari Schweiz A.G. <span class=\"f ps21\"> </span></span></div><div class=\"ps20180 ss18\"><span class=\"f charStyle-ef51c266 ps20307\">0.0001%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps13958 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Mexico S.A. de C.V.,\u00a0 </span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20309 ss1597\"><div><div class=\"ps10703 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Avenida Americas 1500 Piso G-A <span class=\"f ps21\"> </span></span></div><div class=\"ps10701 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Colonia Country Club, Guadalajara, </span></div><div class=\"ps10704 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Jalisco, 44610 Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20311 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20313 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20312\">6,384,020,642<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20314 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20315 ss1600\"><div><div class=\"ps20197 ss18\"><span class=\"f charStyle-c6dd72c8 ps7974\">Campari Espa\u00f1a S.L.U. </span></div><div class=\"ps20199 ss18\"><span class=\"f charStyle-c6dd72c8 ps17811\">99.00% </span></div><div class=\"ps20201 ss18\"><span class=\"f charStyle-c6dd72c8 ps14959\">Campari America, LLC <span class=\"f ps21\"> </span></span></div><div class=\"ps20203 ss18\"><span class=\"f charStyle-c6dd72c8 ps20300\">1.00%</span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps19549 ss1597\"><div><div class=\"ps13516 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Mexico Destiladora S.A. </span></div><div class=\"ps12730 ss635\"><span class=\"f charStyle-40131897 ps132\">de C.V.</span><span class=\"f charStyle-85922b7e ps20316\"><sup>(3)</sup></span><span class=\"f charStyle-40131897 ps20317\">, manufacturing company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20318 ss1597\"><div><div class=\"ps10703 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Camino Real a Atotonilco No. 1081, <span class=\"f ps21\"> </span></span></div><div class=\"ps10701 ss635\"><span class=\"f charStyle-183bdf94 ps132\">La Trinidad, San Ignacio Cerro </span></div><div class=\"ps10704 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Gordo, Jalisco, Z.C. 47195, Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20319 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20320 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">10,100,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20321 ss1599\"><div><div class=\"ps20194 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20327 ss1600\" style=\"overflow:hidden\"><div><div class=\"ps20322 ss18\"><span class=\"f charStyle-ef51c266 ps18582\">Campari Mexico, S.A. de <span class=\"f ps21\"> </span></span></div><div class=\"ps20324 ss18\"><span class=\"f charStyle-ef51c266 ps20323\">C.V. 99.99%</span></div><div class=\"ps20194 ss18\"><span class=\"f charStyle-ef51c266 ps14959\">Campari America, LLC <span class=\"f ps21\"> </span></span></div><div class=\"ps20325 ss18\"><span class=\"f charStyle-ef51c266 ps20300\">0.01%</span></div></div></div></td></tr><tr style=\"height:39pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20328 ss1608\"><div><div class=\"ps9448 ss635\"><span class=\"f charStyle-40131897 ps132\">Licorera Ancho Reyes y cia, </span></div><div class=\"ps9449 ss635\"><span class=\"f charStyle-40131897 ps132\">S.A.P.I. de C.V., manufacturing and </span></div><div class=\"ps9450 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20329 ss1608\"><div><div class=\"ps9448 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Paseo de los Tamarindos No. 90 <span class=\"f ps21\"> </span></span></div><div class=\"ps9449 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Edificio Arcos Bosques Torre II-Piso </span></div><div class=\"ps9450 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5C Col. Bosques de las Lomas, </span></div><div class=\"ps9451 ss635\"><span class=\"f charStyle-183bdf94 ps132\">05120, Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20330 ss1609\"><div><div class=\"ps18102 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20332 ss1609\"><div><div class=\"ps18102 ss180\"><span class=\"f charStyle-ef51c266 ps20331\">73,972</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20333 ss1609\"><div><div class=\"ps18102 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20337 ss1610\"><div><div class=\"ps20334 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Espa\u00f1a S.L.U. <span class=\"f ps21\"> </span></span></div><div class=\"ps18116 ss18\"><span class=\"f charStyle-ef51c266 ps17811\">99.99%<span class=\"f ps21\"> </span></span></div><div class=\"ps18102 ss18\"><span class=\"f charStyle-ef51c266 ps18582\">Campari Mexico, S.A. de <span class=\"f ps21\"> </span></span></div><div class=\"ps18117 ss18\"><span class=\"f charStyle-ef51c266 ps20335\">C.V. 0.01%</span></div></div></div></td></tr><tr style=\"height:36pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20338 ss1611\"><div><div class=\"ps2372 ss635\"><span class=\"f charStyle-40131897 ps132\">Casa Montelobos, S.A.P.I. de C.V., </span></div><div class=\"ps2374 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2377 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20339 ss1611\"><div><div class=\"ps2372 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Paseo de los Tamarindos No. 90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Edificio Arcos Bosques Torre II-Piso </span></div><div class=\"ps2377 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5C Col. Bosques de las Lomas, </span></div><div class=\"ps2378 ss635\"><span class=\"f charStyle-183bdf94 ps132\">05120, Mexico</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20340 ss1612\"><div><div class=\"ps18074 ss180\"><span class=\"f charStyle-ef51c266 ps20310\">MXN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20342 ss1612\"><div><div class=\"ps18074 ss180\"><span class=\"f charStyle-ef51c266 ps20341\">5,287,771.00</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20343 ss1612\"><div><div class=\"ps18074 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20346 ss511\"><div><div class=\"ps20344 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Espa\u00f1a S.L.U. <span class=\"f ps21\"> </span></span></div><div class=\"ps18085 ss18\"><span class=\"f charStyle-ef51c266 ps17811\">99.99%<span class=\"f ps21\"> </span></span></div><div class=\"ps18087 ss18\"><span class=\"f charStyle-ef51c266 ps18582\">Campari Mexico, S.A. de <span class=\"f ps21\"> </span></span></div><div class=\"ps20345 ss18\"><span class=\"f charStyle-ef51c266 ps20335\">C.V. 0.01%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20347 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Peru SAC, trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20348 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Av. Jorge Basadre No.607, oficina <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">702, distrito de San Isidro, Lima, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Peru</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20349 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">PEN<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20351 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20350\">34,733,589</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20352 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20354 ss1596\"><div><div class=\"ps20187 ss18\"><span class=\"f charStyle-c6dd72c8 ps7974\">Campari Esp\u00e3na S.L.U. </span></div><div class=\"ps20141 ss18\"><span class=\"f charStyle-c6dd72c8 ps20353\">99.92%, Campari do </span></div><div class=\"ps20190 ss18\"><span class=\"f charStyle-c6dd72c8 ps6592\">Brasil Ltda. 0.08%</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20355 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Forty Creek Distillery Ltd., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20356 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">297 South Service Road West, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Grimsby, ON L3M 1Y6 Canada</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20357 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">CAD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20358 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">105,500,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20359 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20360 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">J. Wray and Nephew Ltd., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20361 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">23 Dominica Drive, Kingston 5, <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Jamaica</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20362 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">JMD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20363 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">750,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20364 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20365 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps7974\">Campari Esp\u00e3na S.L.U.<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:116.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">name of company, activity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20218 ss1601\"><div><div class=\"ps9997 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">registered office<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15574 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-ee7239d7 ps20219\">share capital at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-ee7239d7 ps11927\">2025</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12794 ss1602\"><div><div class=\"ps20220 ss1468\"><span class=\"f charStyle-2977ca59 ps18668\">% owned by</span></div><div class=\"ps20221 ss1468\"><span class=\"f charStyle-2977ca59 ps20222\">Davide Campari-Milano N.V.</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ee7239d7 ps20223\">indirect ownership <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ee7239d7 ps20224\">through<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20226 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20225\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20228 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20227\">amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20230 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps20229\">direct<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20231 ss188\"><div><div class=\"ps20112 ss180\"><span class=\"f charStyle-ef51c266 ps11966\">Indirect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps2347 ss637\"><div><div class=\"ps485 ss635\"><span class=\"f charStyle-ba8ac8da ps132\">Asia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20366 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari (Beijing) Trading Co. Ltd., </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20367 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Building 1, Level 5, Room 66, 16 <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Chaowai Avenue, Chaoyang </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">District, Beijing, China</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20368 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">CNY<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20369 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">261,896,430<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20370 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps4163 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Australia Pty Ltd., </span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-40131897 ps132\">manufacturing and trading </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20371 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Level 21, 141 Walker Street North <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Sydney, 2060, Australia</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20372 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20140\">AUD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20373 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">56,500,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps14520 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:41.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps6443 ss1613\"><div><div class=\"ps9871 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari India Private Ltd., trading </span></div><div class=\"ps9872 ss635\"><span class=\"f charStyle-40131897 ps132\">company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20374 ss1613\"><div><div class=\"ps9870 ss635\"><span class=\"f charStyle-40131897 ps132\">Regus Eversun Business Centre, </span></div><div class=\"ps9871 ss635\"><span class=\"f charStyle-40131897 ps132\">Level 5, Punj Essen House, 17 &amp; </span></div><div class=\"ps9872 ss635\"><span class=\"f charStyle-40131897 ps132\">18, Nehru Place, Delhi 110019, </span></div><div class=\"ps9873 ss635\"><span class=\"f charStyle-40131897 ps132\">India</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20377 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps20375\">INR<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20378 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps17718\">172,260<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20379 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20380 ss1614\"><div><div class=\"ps20376 ss180\"><span class=\"f charStyle-ef51c266 ps18525\">0.01<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20384 ss1615\"><div><div class=\"ps20381 ss18\"><span class=\"f charStyle-ef51c266 ps18414\">Campari Australia Pty <span class=\"f ps21\"> </span></span></div><div class=\"ps20383 ss18\"><span class=\"f charStyle-ef51c266 ps20382\">Ltd. 0.01%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps3361 ss1601\"><div><div class=\"ps9998 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari New Zealand Limited</span><span class=\"f charStyle-85922b7e ps20385\"><sup>(4)</sup></span><span class=\"f charStyle-40131897 ps20386\">, <span class=\"f ps21\"> </span></span></div><div class=\"ps2551 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20387 ss1601\"><div><div class=\"ps9998 ss635\"><span class=\"f charStyle-40131897 ps132\">Level 5, 60 Parnell Road, Parnell</span></div><div class=\"ps2551 ss635\"><span class=\"f charStyle-40131897 ps132\">Auckland CBD, 1010, New Zealand</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20389 ss1616\"><div><div class=\"ps20388 ss180\"><span class=\"f charStyle-ef51c266 ps20149\">NZD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20390 ss1616\"><div><div class=\"ps20388 ss180\"><span class=\"f charStyle-ef51c266 ps7987\">5,180,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20391 ss1616\"><div><div class=\"ps20388 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20393 ss1603\"><div><div class=\"ps20220 ss18\"><span class=\"f charStyle-ef51c266 ps18414\">Campari Australia Pty <span class=\"f ps21\"> </span></span></div><div class=\"ps20221 ss18\"><span class=\"f charStyle-ef51c266 ps20392\">Ltd.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps10952 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Singapore Pte Ltd., </span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-40131897 ps132\">trading company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20394 ss636\"><div><div class=\"ps2776 ss635\"><span class=\"f charStyle-183bdf94 ps132\">152 Beach Road, #24-06, <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss635\"><span class=\"f charStyle-183bdf94 ps132\">1Gateway East, 189721, Singapore </span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20396 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20395\">SGD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20397 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps8956\">19,100,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps12870 ss443\"><div><div class=\"ps20115 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20398 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Korea Co. Ltd., trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20399 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">5th Floor, 14 Samsung-ro 133-gil <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Gangnam-gu, Seoul, South Korea, </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Songpa-gu, Seoul, Korea</span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20400 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps18814\">KRW<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20401 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20312\">2,000,000,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20402 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20171\">100.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt dotted #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20403 ss1596\"><div><div class=\"ps20141 ss18\"><span class=\"f charStyle-ef51c266 ps2758\">Glen Grant Ltd.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps962 ss1593\"><div><div class=\"ps5026 ss635\"><span class=\"f charStyle-40131897 ps132\">Campari Japan Limited, trading </span></div><div class=\"ps5028 ss635\"><span class=\"f charStyle-40131897 ps132\">company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20404 ss1593\"><div><div class=\"ps2578 ss635\"><span class=\"f charStyle-183bdf94 ps132\">107-0062 Tokyo 1-1-1 Minami-<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss635\"><span class=\"f charStyle-183bdf94 ps132\">Aoyama, Shin Aoyama Bldg West </span></div><div class=\"ps2580 ss635\"><span class=\"f charStyle-183bdf94 ps132\">6F, Minato-Ku Japan</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20405 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps6334\">JPY<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20406 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20143\">100,000,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"><div class=\"ps20407 ss1594\"><div><div class=\"ps20141 ss180\"><span class=\"f charStyle-ef51c266 ps20117\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt dotted #000;border-right:1pt dotted #000;border-top:1pt dotted #000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps20408 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:158.61pt\">The \u20ac12,312,677 represents ordinary share capital.</span></div><div class=\"ps20409 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:282.08pt\">The share capital does not include effects related to the hyperinflation accounting standard.</span></div><div class=\"ps20410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(3)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:57.8pt\"> Inactive company.</span></div><div class=\"ps20411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(4)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.55pt\"> Campari New Zealand Limited, trading company, was previously named Thirsty Camel Limited. Campari 612220 Ltd., previously Campari New Zealand</span><span class=\"f charStyle-40131897 ps413\" style=\"width:1.94pt\"> </span></div><div class=\"ps20412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:133.7pt\">Limited, was liquidated in September 2025.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-435": {
   "value": "<div class=\"ps20082 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Principles of Control and Consolidation<span id=\"i921f898eafd94c6ba0764a22f89e2c83\"></span></span></div><div class=\"ps20083 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:95.88pt\">Principles of control<span id=\"ia50511d7696d4bbf8f1a6ae08e2497fa\"></span></span></div><div class=\"ps1204 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">Control is determined when the Group is exposed to or has a right to variable returns resulting from its</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1205 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">involvement with the investee, and, at the same time, has the ability to use its power over the investee to affect</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1206 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:61.1pt\">these returns.</span></div><div class=\"ps1207 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:278.6pt\">Specifically, the Group controls a business if, and only if, it has:</span></div><div class=\"ps1208 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.95pt\">power over the investee (or holds valid rights that give it the actual ability to manage significant activities of</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1209 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:59.99pt\">the investee);<span class=\"f ps21\"> </span></span></div><div class=\"ps1210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:374.91pt\">exposure or rights to variable returns resulting from its involvement with the investee;</span></div><div class=\"ps1211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:329.68pt\">the ability to use its power over the investee to affect the size of its returns.</span></div><div class=\"ps1212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Generally, control is assumed to exist when the Group possesses a majority of the voting rights. In support of</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps25 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">this assumption and when the Group holds less than the majority of the voting rights (or similar rights), the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps26 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Group considers all relevant facts and circumstances in assessing whether it controls the investee, including</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps27 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">contractual arrangements with other holders of voting rights, rights arising from contractual arrangements, and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps28 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:227.55pt\">the Group\u2019s voting rights and potential voting rights.</span></div><div class=\"ps29 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The Group reassesses whether or not it controls a subsidiary if facts and circumstances indicate that one or</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps30 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">more of the three significant elements defining control have changed. Consolidation of a subsidiary begins when<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps31 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">the Group obtains direct or indirect control of that subsidiary (or through one or more other subsidiaries) and</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps32 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">ceases when the Group loses control therefrom. The assets, liabilities, revenues and costs of the subsidiary</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps33 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">acquired or disposed of over the year are included in the Consolidated Financial statements from the date on</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps34 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">which the Group obtains control until the date on which the Group no longer exercises control over the</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps35 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:42.6pt\">company.</span></div><div class=\"ps36 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Changes in investments in subsidiaries that do not result in acquisition or loss of control are recorded as</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps37 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:142.24pt\">changes in shareholders\u2019 equity.</span></div><div class=\"ps38 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">If the Group loses control of a subsidiary, the related assets (including goodwill), liabilities, non-controlling</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps39 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">interests and other components of shareholders\u2019 equity are derecognised, while any gain or loss is recognised</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps40 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:406.55pt\">in the statement of profit or loss. Any ownership interest maintained is recorded at fair value.</span></div><div class=\"ps20084 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:127.04pt\">Principles of consolidation<span id=\"i12ee6f5ae588463eb48d58ae255b4b03\"></span></span></div><div class=\"ps18173 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">The Consolidated Financial statements include the financial statements of the Parent Company and of the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps18174 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Italian and foreign subsidiaries. All subsidiaries are consolidated on a line-by-line basis. The carrying amount of</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps18175 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">the investments in subsidiaries is derecognised against the corresponding portion of the shareholders\u2019 equity of</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps18176 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">the subsidiaries. At the first consolidation stage, individual assets and liabilities are measured at fair value in the</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps12992 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">context of the purchase price allocation at the date control was acquired. Any residual positive difference in the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps11565 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">allocation is recorded under the asset item \u2018goodwill\u2019, and any negative amount is allocated to the statement of</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:57.19pt\">profit or loss.</span></div><div class=\"ps12994 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The subsidiaries\u2019 financial statements are based on the same financial year as the Parent Company and drawn</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps12995 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">up for the purposes of consolidation. When necessary, appropriate adjustments are made to subsidiaries\u2019</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps12999 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">financial statements to bring them into line with the Group\u2019s accounting policies. Joint-ventures are measured by</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps13001 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:122.22pt\">applying the equity method.</span></div><div class=\"ps13002 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">When preparing the Consolidated Financial statements, unrealised gains and losses resulting from intra-group</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1867 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">transactions are derecognised, as are the entries giving rise to payables and receivables, and costs and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps13004 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">revenues between the companies included in the basis of consolidation. All intra-group assets and liabilities,</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps13005 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">shareholders\u2019 equity, revenues, costs and cash flow relating to transactions between Group entities are fully</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps13006 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">derecognised on consolidation. All remaining assets and liabilities, expenses and revenues of the subsidiaries<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps13007 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">are fully reflected in the Consolidated Financial statements. Unrealised gains and losses generated on<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps13008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">transactions with joint-ventures are derecognised to the extent of the Group\u2019s percentage interest in those</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps13009 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:355.58pt\">companies. Dividends collected from consolidated companies are derecognised.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">The profit (loss) for the year and all other components of the statement of other comprehensive income are</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">attributed to the shareholders of the Parent Company and to non-controlling interests, even if this results in non-<span class=\"f ps21\"> </span></span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">controlling interests having a negative value. Non-controlling interests in shareholders\u2019 equity and related results</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:354.94pt\">are reported under the appropriate line items in the primary financial statements.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-440": {
   "value": "<div class=\"ps20996 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vi.\u00a0  Change in Presentation <span id=\"i88429232195a4d8eb703f95891928a9b\"></span></span></div><div class=\"ps20997 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">As mentioned in the 'Subsequent Events-i. Group Corporate Actions' section of the Group's Consolidated</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps20998 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Financial statements at 31 December 2024, to which reference is made, a new business model was launched in</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps20999 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">2025 revolving around the interaction between the existing geographical business units structure and four newly</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21000 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">created category divisions: House of Aperitifs, House of Whiskey&amp;Rum, House of Agave, and House of</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21001 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:430.9pt\">Cognac&amp;Champagne. Consequently, related disclosures over Net Sales were subject to a review.</span></div><div class=\"ps21003 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:467.01pt\">Moreover, in line with the implementation of the new business strategy, as outlined in the 'Business </span><span class=\"f charStyle-58d8bcbe ps21002\" style=\"width:29.13pt\">Model'</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21004 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">section in the Management Board Report, the allocation of certain cost items between \u2018Selling, general and</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps21005 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">administrative expenses\u2019 and \u2018Cost of sales\u2019 was reassessed and subsequently revised. In particular, some</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps21006 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">expenses, primarily related to Supply Chain functions that have progressively evolved into administrative and</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps21007 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">coordination roles, which were historically classified as Cost of sales, will be presented under Selling, general</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">and administrative expenses. This change reflects the transition of these functions away from direct operational</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps21009 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">activities to supporting roles, in line with the Group's strategic evolution to the new House of Brand business</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21010 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">model. The new classification aims to provide a clearer and more accurate representation of the nature and</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21012 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:258.86pt\">purpose of these expenses within the financial statements.</span><span class=\"f charStyle-58d8bcbe ps21011\" style=\"width:2.77pt\"> </span></div><div class=\"ps1982 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">To ensure consistency and comparability, comparative data for 2024 represented in the statement of profit or<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21013 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">loss and in the segment reporting was restated and presented as '2024 reclassified' in the following disclosures.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.59pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21014 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">The disclosures related to Net Sales', 'operating segment', 'Cost of sales', 'Selling, general and administrative</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21015 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">expenses', 'Personnel costs' and 'Depreciation and amortisation' were presented in the related sections with</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21016 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:104.98pt\">reclassified information.</span></div><div class=\"ps21017 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">It is noted that the changes in representation do not imply material changes in the disclosures provided in the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps12235 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Group's Consolidated Financial statements at 31 December 2024, which remain fully comprehensive and</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21018 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:43.33pt\">complete.</span></div><div><div class=\"ps1253 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-da37ff7c ps1250\" style=\"width:67.68pt\">Change in the <span id=\"ifa0384359ebe4c76aaf29c2a49e776e0\"></span></span><span class=\"f charStyle-da37ff7c ps21020\" style=\"width:155.65pt\">Consolidated Financial Statement</span></div><div class=\"ps21052 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:243.75pt\"></td><td style=\"padding:0;width:84pt\"></td><td style=\"padding:0;width:84pt\"></td><td style=\"padding:0;width:84pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss384\"><div><div class=\"ps979 ss383\"><span class=\"f charStyle-183bdf94 ps132\">Consolidated statement of profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6552 ss386\"><div><div class=\"ps2776 ss385\"><span class=\"f charStyle-183bdf94 ps6550\">2024 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss385\"><span class=\"f charStyle-183bdf94 ps6551\">reclassified<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6554 ss386\"><div><div class=\"ps979 ss385\"><span class=\"f charStyle-183bdf94 ps6553\">reclassification<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6556 ss386\"><div><div class=\"ps2776 ss385\"><span class=\"f charStyle-183bdf94 ps6550\">2024<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss385\"><span class=\"f charStyle-183bdf94 ps6555\">published<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6558 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6557\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6559 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6557\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6560 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6557\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-ba8ac8da ps132\">Gross sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6562 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">3,653.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6564 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6565 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">3,653.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-40131897 ps132\">Excise duties</span><span class=\"f charStyle-85922b7e ps19300\"><sup>(1)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6567 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6571\">(583.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6569 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6570 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6571\">(583.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-ba8ac8da ps132\">Net sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6572 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">3,069.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6573 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6574 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">3,069.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-183bdf94 ps132\">Cost of sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6575 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps21021\">(1,277.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6577 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">25.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6578 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps21021\">(1,303.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps1043 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-ba8ac8da ps132\">Gross profit<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6579 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">1,792.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6581 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6568\">25.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6582 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">1,766.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4628 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-183bdf94 ps132\">Advertising and promotional expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps19624 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6571\">(513.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps19626 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps19628 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6571\">(513.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6894 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-ba8ac8da ps132\">Contribution margin<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps19312 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">1,279.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps19703 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6568\">25.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps19705 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">1,253.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps5271 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-183bdf94 ps132\">Selling, general and administrative expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps19708 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6571\">(886.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps19710 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6754\">(25.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps19712 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6571\">(861.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6904 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-ba8ac8da ps132\">Operating result<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps19317 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6566\">392.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21022 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21023 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6566\">392.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4642 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-183bdf94 ps132\">Financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps19320 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps21024\">(115.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21025 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21026 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps21024\">(115.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4652 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-183bdf94 ps132\">Financial income<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21027 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">38.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21028 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21029 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">38.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4660 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-183bdf94 ps132\">Share of profit (loss) of joint-ventures<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19327 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6754\">(34.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21030 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21031 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6754\">(34.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11256 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-183bdf94 ps132\">Profit (loss) from other investments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19331 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6754\">(24.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21032 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps18424 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6754\">(24.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps10236 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-ba8ac8da ps132\">Profit before taxation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps19335 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6566\">255.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21033 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21034 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6566\">255.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps14618 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-183bdf94 ps132\">Taxation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps19340 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6754\">(63.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21035 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21036 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6754\">(63.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4674 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-183bdf94 ps132\">Profit for the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps19519 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6566\">192.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21037 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21038 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6566\">192.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps14639 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-ba8ac8da ps132\">Profit attributable to:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21039 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14238 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-183bdf94 ps132\">Shareholders of the parent Company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21040 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">201.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21041 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21042 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">201.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps2663 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-183bdf94 ps132\">Non-controlling interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21043 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6673\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21044 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21045 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6673\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4688 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-ba8ac8da ps132\">Basic earnings per share (\u20ac)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21046 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6568\">0.17<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21047 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21048 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6568\">0.17<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4697 ss388\"><div><div class=\"ps485 ss383\"><span class=\"f charStyle-ba8ac8da ps132\">Diluted earnings per share (\u20ac)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21049 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6568\">0.17<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21050 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21051 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-ba8ac8da ps6568\">0.17<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:169.08pt\"> Excise duties where Campari Group acts as an agent.</span></div><div class=\"ps21053 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-da37ff7c ps1250\" style=\"width:67.68pt\">Change in the <span id=\"i5de90476214644bfadd590da36f6194a\"></span></span><span class=\"f charStyle-da37ff7c ps21020\" style=\"width:90.08pt\">Segment Reporting</span></div><div class=\"ps21076 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:245.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1657\"><div><div class=\"ps2579 ss996\"><span class=\"f charStyle-183bdf94 ps132\">Segment reporting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps13065 ss292\"><div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps21054\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21056 ss292\"><div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps21055\">EMEA<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps19595 ss292\"><div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps21057\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21058 ss292\"><div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps6374\">consolidated<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps7726 ss999\"><div><div class=\"ps485 ss996\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21059 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-183bdf94 ps7522\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21060 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-183bdf94 ps7522\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21061 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-183bdf94 ps7522\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21062 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-183bdf94 ps7522\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps2968 ss999\"><div><div class=\"ps485 ss996\"><span class=\"f charStyle-ba8ac8da ps132\">Operating result reported<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21063 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-ba8ac8da ps5059\">213.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21064 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-ba8ac8da ps5059\">208.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21065 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-ba8ac8da ps7559\">(29.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21066 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-ba8ac8da ps5059\">392.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5727 ss999\"><div><div class=\"ps476 ss996\"><span class=\"f charStyle-183bdf94 ps132\">Reclassification<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21067 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-183bdf94 ps7581\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21069 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-183bdf94 ps21068\">(1.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21070 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-183bdf94 ps7581\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21071 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-183bdf94 ps20886\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5196 ss999\"><div><div class=\"ps485 ss996\"><span class=\"f charStyle-ba8ac8da ps132\">Operating result reclassified<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21072 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-ba8ac8da ps5059\">214.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21073 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-ba8ac8da ps5059\">207.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21074 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-ba8ac8da ps7559\">(29.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21075 ss209\"><div><div class=\"ps485 ss197\"><span class=\"f charStyle-ba8ac8da ps5059\">392.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps1253 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-da37ff7c ps1250\" style=\"width:67.68pt\">Change in the <span id=\"i9d5879af42ff4fef82048807044d605a\"></span></span><span class=\"f charStyle-da37ff7c ps21020\" style=\"width:152.26pt\">Net Sales By Brand Presentation</span></div><div class=\"ps21052 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:129.75pt\"></td><td style=\"padding:0;width:60.75pt\"></td><td style=\"padding:0;width:60.75pt\"></td><td style=\"padding:0;width:60.75pt\"></td><td style=\"padding:0;width:60.75pt\"></td><td style=\"padding:0;width:60.75pt\"></td><td style=\"padding:0;width:60.75pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1659\"><div><div class=\"ps2579 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11801 ss1660\"><div><div class=\"ps2579 ss210\"><span class=\"f charStyle-183bdf94 ps132\">published<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps12428 ss1660\"><div><div class=\"ps2579 ss210\"><span class=\"f charStyle-183bdf94 ps132\">House of Aperitifs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21078 ss1660\"><div><div class=\"ps5026 ss210\"><span class=\"f charStyle-183bdf94 ps132\">House of <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss210\"><span class=\"f charStyle-183bdf94 ps132\">Whiskeys&amp;Rum<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21079 ss1660\"><div><div class=\"ps5026 ss210\"><span class=\"f charStyle-183bdf94 ps132\">House of <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss210\"><span class=\"f charStyle-183bdf94 ps132\">Agave<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21080 ss1660\"><div><div class=\"ps2578 ss210\"><span class=\"f charStyle-183bdf94 ps132\">House of <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss210\"><span class=\"f charStyle-183bdf94 ps132\">Cognac&amp;<span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss210\"><span class=\"f charStyle-183bdf94 ps132\">Champagne<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21081 ss1660\"><div><div class=\"ps2579 ss210\"><span class=\"f charStyle-183bdf94 ps132\">local brands<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21082 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21083 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21084 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21085 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21086 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21087 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps2968 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-ba8ac8da ps132\">global priority brands<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21088 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-ba8ac8da ps11826\">2,050.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps5727 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">Aperol<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21090 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">740.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21091 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">740.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21093 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21094 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21095 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21096 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5196 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">Campari<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21097 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">337.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21098 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">337.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21099 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21100 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21101 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21102 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps924 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">Espol\u00f2n<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21103 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">264.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21104 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21105 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21106 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">264.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21107 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21108 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps928 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">Wild Turkey portfolio<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21109 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">215.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21110 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21111 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">215.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21112 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21113 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21114 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6443 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">Jamaican rums portfolio<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21115 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">147.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21116 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21117 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">147.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21118 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21119 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21120 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps7572 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">Grand Marnier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21121 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">144.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21122 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21123 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21124 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21125 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">144.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21126 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps7580 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">SKYY<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21127 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">127.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21128 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21129 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21130 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21131 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21132 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">127.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps7589 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">Courvoisier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21134 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">72.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21135 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21136 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21137 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21138 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">72.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21139 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7597 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-ba8ac8da ps132\">regional priority brands<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21140 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-ba8ac8da ps21089\">563.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps18275 ss1662\"><div><div class=\"ps1094 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">Sparkling Wines, <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">Champagne&amp;Vermouth</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21141 ss226\"><div><div class=\"ps473 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">176.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21142 ss226\"><div><div class=\"ps473 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21143 ss226\"><div><div class=\"ps473 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21144 ss226\"><div><div class=\"ps473 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21145 ss226\"><div><div class=\"ps473 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">10.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21146 ss226\"><div><div class=\"ps473 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">165.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps18280 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">Other specialities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21147 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">278.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21148 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">87.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21149 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21150 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">28.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21152 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21151\">8.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21153 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21089\">153.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14298 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-40131897 ps132\">Other Whiskey</span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21154 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">45.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21155 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21156 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">25.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21157 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21158 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21159 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">19.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21160 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">Crodino<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21161 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">64.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21162 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">64.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21163 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21164 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21165 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21166 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21167 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-ba8ac8da ps132\">local priority brands<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21168 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-ba8ac8da ps21089\">188.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps10637 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">Campari Soda<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21169 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">77.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps13523 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">77.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21170 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21171 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21172 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21173 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps2773 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">Wild Turkey ready-to-drink<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21174 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">48.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21175 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21176 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">48.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21177 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21178 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21179 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8126 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">SKYY ready-to-drink<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21180 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">36.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21181 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21182 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21183 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21184 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21185 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">36.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps8139 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-183bdf94 ps132\">Ouzo 12<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21186 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">25.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21187 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21188 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21189 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21190 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21191 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps21133\">25.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps2704 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-ba8ac8da ps132\">rest of the portfolio<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21192 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-ba8ac8da ps21089\">267.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21193 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-ba8ac8da ps21133\">20.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21194 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-ba8ac8da ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21195 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-ba8ac8da ps21151\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21196 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-ba8ac8da ps21151\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21197 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-ba8ac8da ps21089\">244.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps10765 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-ba8ac8da ps132\">Net sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21198 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-ba8ac8da ps11826\">3,069.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21199 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-ba8ac8da ps11826\">1,326.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21200 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-ba8ac8da ps21089\">437.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21201 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-ba8ac8da ps21089\">294.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21202 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-ba8ac8da ps21089\">238.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21203 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-ba8ac8da ps21089\">772.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-a745408e ps56\">Campari Group new geographical business unit structure</span></div><div class=\"ps1881 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">As mentioned in the 'Campari Group's identity and business overview' section of the Management Board</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4582 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">Report, a new geographical management structure will be introduced in 2026 comprising of four business units,</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps7631 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">with dedicated leadership for each geographical area (Europe, North America, Asia-Pacific, Developing</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1529 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:461.39pt\">Markets). The new structure will be considered as the base for the 2026 segment reporting of the Group.</span></div><div class=\"ps1530 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">It is noted that the changes in representation do not imply changes in the disclosures provided in the</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1531 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:467.2pt\">consolidated financial statements at 31 December 2025, which remain fully comprehensive and complete.</span></div><div class=\"ps1479 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">The table below shows the segment reporting originally published in the consolidated financial statements at 31</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1480 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:344.42pt\">December 2025 with reconciliation to the updated segment reporting structure</span><span class=\"f charStyle-58d8bcbe ps27045\" style=\"width:2.77pt\">.</span></div><div class=\"ps27095 ss1\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:134.25pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:14.25pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1340\"><div><div class=\"ps979 ss812\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14684 ss542\"><div><div class=\"ps979 ss536\"><span class=\"f charStyle-183bdf94 ps27046\">published<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26914 ss542\"><div><div class=\"ps979 ss536\"><span class=\"f charStyle-183bdf94 ps27047\">North America<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27049 ss542\"><div><div class=\"ps979 ss536\"><span class=\"f charStyle-183bdf94 ps27048\">Europe<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22697 ss542\"><div><div class=\"ps979 ss536\"><span class=\"f charStyle-183bdf94 ps27050\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27051 ss542\"><div><div class=\"ps2776 ss536\"><span class=\"f charStyle-183bdf94 ps3393\">Developing <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss536\"><span class=\"f charStyle-183bdf94 ps7317\">markets</span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27052 ss542\"><div><div class=\"ps979 ss536\"><span class=\"f charStyle-40131897 ps25552\">Total</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27053 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps7964\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26922 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps7964\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27054 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps7964\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27055 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps7964\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27056 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps7964\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27057 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps7964\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1126 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27058 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps8619\">1,337.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26926 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps8619\">1,131.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27059 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27060 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27061 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">206.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps490 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-183bdf94 ps132\">EMEA<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-right:0.5pt solid #000;padding:0\"><div class=\"ps27062 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps8619\">1,513.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps26927 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps27063 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps8619\">1,419.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps27064 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps27065 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">94.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps498 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps27066 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">199.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26930 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps27067 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps27068 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">199.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps27069 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps505 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-71fa1de4 ps132\"><span style=\"background-color:inherit\">net sales</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27070 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-ba8ac8da ps8619\">3,051.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27071 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-682c42b7 ps8619\"><span style=\"background-color:inherit\">1,131.5</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27072 ss545\"><div><div class=\"ps2415 ss536\"><span class=\"f charStyle-682c42b7 ps8619\"><span style=\"background-color:inherit\">1,419.8</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27073 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-682c42b7 ps9007\"><span style=\"background-color:inherit\">199.8</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27074 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-682c42b7 ps9007\"><span style=\"background-color:inherit\">300.0</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27075 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-682c42b7 ps8619\"><span style=\"background-color:inherit\">3,051.2</span><span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1043 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27076 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">313.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27077 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">279.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27078 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27079 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27080 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">34.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps4628 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-183bdf94 ps132\">EMEA<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-right:0.5pt solid #000;padding:0\"><div class=\"ps27081 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">333.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21561 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps27082 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">304.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps27083 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps27084 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">29.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6894 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps27085 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps4500\">(10.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21564 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps27086 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23392\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps27087 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23392\">(9.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps27088 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5271 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-ba8ac8da ps132\">result from recurring activities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27089 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-ba8ac8da ps9007\">636.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27090 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-ba8ac8da ps9007\">279.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27091 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-ba8ac8da ps9007\">304.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27092 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-ba8ac8da ps23392\">(9.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27093 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-ba8ac8da ps23411\">63.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27094 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-682c42b7 ps9007\"><span style=\"background-color:inherit\">636.9</span><span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-443": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Net Sales <span id=\"ide1e1f2c0eb248749a3d6e25ca42040c\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:91.69pt\">Revenue recognition</span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Revenues are recognised when the customer gains control of the goods. Transfer of control is determined using</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:336.05pt\">a five-step analytical model applied to all revenues from customer contracts.</span><span class=\"f charStyle-2293a859 ps21256\" style=\"width:2.77pt\"> </span></div><div class=\"ps1266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">This occurs when the goods are delivered to the customer, who has complete discretion over the sales channel<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">and price of the products themselves, and there is no unfulfilled obligation that could affect acceptance by the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">customer. Delivery takes place when the products have been shipped to the specific location, the risks of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">obsolescence and loss have been transferred to the customer and the customer has accepted the products in</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">accordance with the sales contract, the terms and conditions of acceptance have expired, or the Group has</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1275 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">objective evidence that all criteria for acceptance have been met. The Group\u2019s revenues mainly include sales of</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">spirits on the market and, to a marginal extent, revenues from co-packing services in some way linked to the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">Group\u2019s core business, for which the breakdown of sales is not disclosed in consideration of their limited</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:52.22pt\">importance.</span></div><div class=\"ps1282 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">Revenues are recognised at the price stated in the contract, net of any estimates of deferred discounts or</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1284 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:338.25pt\">incentives granted to the customer in line with industry practice, for example:</span><span class=\"f charStyle-2293a859 ps21257\" style=\"width:2.77pt\"> </span></div><div class=\"ps1285 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:433.33pt\">volume/value discounts based on cumulative sales above a threshold at the end of a given period;</span></div><div class=\"ps1287 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.03pt\">performance-based discounts (such as discounts, rebates, performance bonuses, logistical discounts),</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1288 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:393.33pt\">based on promotional activities carried out by the customer and agreed upon in advance;</span></div><div class=\"ps1289 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.02pt\">customer incentives, such as discount vouchers, free products, price protection, market development</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1290 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:325.54pt\">allowances and price reduction allowances (to compensate for low sales);</span></div><div class=\"ps1291 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:351.66pt\">product placement allowances (such as contributions for placement and range).</span></div><div class=\"ps1292 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-2293a859 ps56\">Historical experience is used to estimate deferred discounts/incentives based on agreements with customers, </span></div><div class=\"ps21258 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-2293a859 ps56\">and revenues are recognised only to the extent that it is highly probable that there will be no need for <span class=\"f ps21\"> </span></span></div><div class=\"ps21259 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-2293a859 ps56\">subsequent significant adjustments.</span></div><div class=\"ps21260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">No financing element is deemed to be present as sales are made with only a brief delay before payment:</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21261 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">contracts are generally not entered into when there is more than one year between the transfer of the goods and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps21263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:131.09pt\">the payment by the customer.</span><span class=\"f charStyle-2293a859 ps21262\" style=\"width:2.77pt\"> </span></div><div class=\"ps21264 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Discounts relating to specific payment terms that lower the Group entity\u2019s collection risk or reduce administrative</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21265 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">costs, and/or improve liquidity (such as payments at the time of sale), are recognised as a reduction in<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:43.9pt\">revenues.</span></div><div class=\"ps21267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">A liability reducing the related trade receivable is recognised for deferred discounts due to customers in relation</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">to sales made up to the end of the period. Such liabilities can then be offset against the amounts payable by the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps21269 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">customer. Receivables are recognised when the goods are delivered, as this is the point in time that the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:436.66pt\">consideration is unconditional because only the passage of time is required before payment is due.</span></div><div class=\"ps14422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:137.23pt\">Consumption taxes recognition</span></div><div class=\"ps14423 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">The Group incurs consumption taxes worldwide. In most jurisdictions, excise duty is a production tax that is</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps14424 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">payable by the manufacturer, becomes payable when the product is removed from captive warehouses, and is</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps2951 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">not directly related to the sales value: the excise duty is consequently recognised as a cost for the Group.</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps14425 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Excise duties are normally recovered through the sales, although they are generally not shown as a separate</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps14426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">item on external invoices. Excise duty increases are not always passed on to the customer, and if a customer</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">does not pay for the product received, the Group cannot request a refund of the excise duty. For excise duties</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21271 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">passed on to customers, the Group considers itself an agent of the regulatory authorities, and consequently, the</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps21272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">re-invoiced excise values are excluded from the presentation of net sales in the primary statements and are</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps21274 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:222.54pt\">presented to offset the cost incurred by the Group.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps21273\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:99.44pt\">Net sales presentation</span></div><div class=\"ps21277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Net sales relate to spirit products in Campari Group\u2019s markets. Their nature, amount, timing and uncertainty, as</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21278 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">well as the corresponding cash flows, are affected by economic and business factors which differ across</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21279 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">markets, also as a function of their different sizes and maturity profiles. These elements are primarily attributable</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">to demographics, consumption habits also influenced by historical, social and climatic factors, local consumer</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">taste preferences, propensity to consume, the market commercial structure in terms of the weight of the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21281 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">distribution channels (off-premise vs. on-premise) as well as the retailers\u2019 concentration. As an effect of the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21282 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">above factors, the sales composition by brand differs from market to market. Therefore, the level of analysis of</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21284 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:284.43pt\">sales by operating segment reflects the four geographical areas.</span><span class=\"f charStyle-2293a859 ps21283\" style=\"width:2.77pt\"> </span></div><div class=\"ps21285 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">In order to highlight the main business performance drivers in a diversified context and to assess the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps7899 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">contribution of the different brands to the overall sales performance of the Group, further breakdowns by brand</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">category (i.e., Houses of Brands) and for major brands are provided to better explain their contribution to the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:30.56pt\">region.</span><span class=\"f charStyle-2293a859 ps21286\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:330.62pt\">Net sales, which almost entirely relate to the sale of spirits, totalled \u20ac</span><span class=\"f charStyle-58d8bcbe ps21287\" style=\"width:33.34pt\">3,051.2</span><span class=\"f charStyle-58d8bcbe ps21288\" style=\"width:132.15pt\"> million at total Group level,</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:75.81pt\">compared with \u20ac<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21289\" style=\"width:33.34pt\">3,069.7</span><span class=\"f charStyle-58d8bcbe ps21290\" style=\"width:178.03pt\"> million in the previous year. The year </span><span class=\"f charStyle-58d8bcbe ps21291\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps21292\" style=\"width:42.48pt\"> showed </span><span class=\"f charStyle-58d8bcbe ps21293\" style=\"width:144.26pt\">positive organic top-line growth,</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">despite a persistently challenging macroeconomic environment, offset by the exchange rate component with</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">negligible combined effect from perimeter mostly linked to Courvoisier acquisition and Cinzano and Frattina</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:85.17pt\">business disposal. </span><span class=\"f charStyle-58d8bcbe ps21294\" style=\"width:411.04pt\">To highlight the key business performance drivers within a geographically diversified context</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">and assess the contribution of brands on the Group's overall sales performance, additional disclosures are<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">provided. These include a breakdown by the four newly established category divisions, the Houses of Brands,</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:317.17pt\">with their principal brands and the most significant regions and markets.</span></div><div class=\"ps9482 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:297pt\"></td><td style=\"padding:0;width:98.25pt\"></td><td style=\"padding:0;width:99.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9100 ss1343\"><div><div class=\"ps485 ss504\"><span class=\"f charStyle-183bdf94 ps7718\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1664\"><div><div class=\"ps485 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Net sales focus by region<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9493 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps21295\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21298 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps21297\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1664\"><div><div class=\"ps485 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21301 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps20448\">1,337.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps11608\">1,388.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps914 ss1664\"><div><div class=\"ps485 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">EMEA<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21303 ss554\"><div><div class=\"ps476 ss553\"><span class=\"f charStyle-183bdf94 ps20448\">1,513.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps11608\">1,464.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1664\"><div><div class=\"ps485 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21306 ss554\"><div><div class=\"ps476 ss553\"><span class=\"f charStyle-183bdf94 ps21305\">199.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21307 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps11621\">216.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1664\"><div><div class=\"ps485 ss1663\"><span class=\"f charStyle-ba8ac8da ps132\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21308 ss554\"><div><div class=\"ps476 ss553\"><span class=\"f charStyle-ba8ac8da ps20448\">3,051.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21309 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-ba8ac8da ps11608\">3,069.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21337 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:297pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9100 ss1343\"><div><div class=\"ps476 ss504\"><span class=\"f charStyle-183bdf94 ps7718\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9493 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21311\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11594 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-40131897 ps21312\">2024</span><span class=\"f charStyle-85922b7e ps21313\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21298 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4046 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-ba8ac8da ps132\">House of Aperitifs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21301 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps21315\">1,337.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4070 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps21315\">1,326.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Aperol<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21303 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">785.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11603 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">782.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Campari<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21306 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">323.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11606 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">338.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-40131897 ps132\">Crodino&amp;Other Aperitifs</span><span class=\"f charStyle-85922b7e ps4641\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21308 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">229.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11610 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">205.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-ba8ac8da ps132\">House of Whiskey&amp;Rum<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21316 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">426.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11615 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">437.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Wild Turkey&amp;Russell's Reserve<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21317 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">156.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11618 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">165.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-40131897 ps132\">Jamaican rums portfolio</span><span class=\"f charStyle-85922b7e ps4673\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21318 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">152.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11623 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">147.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6297 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-40131897 ps132\">Other Whiskey</span><span class=\"f charStyle-85922b7e ps21319\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21321 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21320\">116.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11629 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">125.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6300 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-ba8ac8da ps132\">House of Agave<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21322 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">292.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11634 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">294.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps5134 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Espol\u00f2n<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21323 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">262.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11638 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">264.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-40131897 ps132\">Other</span><span class=\"f charStyle-85922b7e ps21324\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21326 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">30.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11641 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">29.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-ba8ac8da ps132\">House of Cognac&amp;Champagne<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21327 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">303.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11644 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">238.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Grand Marnier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21328 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">127.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11648 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">144.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11650 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-40131897 ps132\">Courvoisier</span><span class=\"f charStyle-85922b7e ps4750\"><sup>(6)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21329 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">157.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11653 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">74.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11655 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-40131897 ps132\">Other Cognac&amp;Champagne</span><span class=\"f charStyle-85922b7e ps21330\"><sup>(7)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21331 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">18.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11658 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">19.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11659 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-ba8ac8da ps132\">local brands<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21332 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">691.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11662 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">772.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11663 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">SKYY<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21333 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">120.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11666 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">127.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11174 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Sparkling Wines&amp;Vermouth<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21334 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">158.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11669 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">165.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11670 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21335 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">412.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11673 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">479.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5638 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-ba8ac8da ps132\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21336 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps21315\">3,051.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11678 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps21315\">3,069.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21338 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:427.52pt\">For information on reclassifications of comparative figures, refer to note \u2018Group Significant Events and Corporate and Sustainable Actions\u2019.</span></div><div class=\"ps21339 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(2)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:150.02pt\"> Includes Campari Soda, Sarti, Picon and Cynar.</span></div><div class=\"ps21340 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(3)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:216.77pt\"> Includes Appleton Estate, Wray&amp;Nephew Overproof and Kingston 62.</span></div><div class=\"ps21341 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(4)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:383.79pt\"> Includes The GlenGrant, American Honey, American Honey ready-to-drink, Wild Turkey ready-to-drink and Wilderness Trail.</span></div><div class=\"ps21342 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(5) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:270.32pt\">Includes Montelobos, Cabo Wabo, Ancho Reyes, Espol\u00f2n ready-to-drink and Mayenda.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-40131897 ps4831\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21343 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(6) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:56.75pt\">Includes Salignac.</span></div><div class=\"ps21344 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-85922b7e ps579\"><sup>(7) </sup></span><span class=\"f charStyle-40131897 ps580\">Includes Bisquit&amp;Dubouch\u00e9 and Lallier.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:289.5pt\"></td><td style=\"padding:0;width:96pt\"></td><td style=\"padding:0;width:110.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21423 ss1672\"><div><div class=\"ps476 ss1671\"><span class=\"f charStyle-183bdf94 ps11780\">for the year ended 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21425 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps21424\">percentage of Group sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7518 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps21426\">main country/region for brands<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-ba8ac8da ps132\">House of Aperitifs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21347 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps21345\"></span><span class=\"ps21345\">43.8<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">Aperol<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21348 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21345\"></span><span class=\"ps21345\">25.7<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16223 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps16227 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21349\">Italy, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps16230 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21350\">Germany, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"border-bottom:0.5pt dashed #000;padding:0\"><div class=\"ps21352 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21351\">United States, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt dashed #000;padding:0\"><div class=\"ps4962 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">Campari<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21353 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21345\"></span><span class=\"ps21345\">10.6<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21354 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21355 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21349\">Italy, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21357 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21356\">Brazil, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"border-bottom:0.5pt dashed #000;padding:0\"><div class=\"ps21358 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21351\">United States, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps6300 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-40131897 ps132\">Crodino&amp;Other Aperitifs</span><span class=\"f charStyle-85922b7e ps4641\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21360 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">7.5<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21361 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5134 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-ba8ac8da ps132\">House of Whiskey&amp;Rum<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21362 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps21345\"></span><span class=\"ps21345\">14.0<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21363 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-c70bfe2f\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">Wild Turkey&amp;Russell's Reserve<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21364 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">5.1<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21365 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21366 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21351\">United States, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21368 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21367\">Australia, Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"border-bottom:0.5pt dashed #000;padding:0\"><div class=\"ps21370 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21369\">South Korea, Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt dashed #000;padding:0\"><div class=\"ps11655 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-40131897 ps132\">Jamaican rums portfolio</span><span class=\"f charStyle-85922b7e ps4673\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21371 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">5.0<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21372 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21374 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21373\">Jamaica, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21375 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21351\">United States, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"border-bottom:0.5pt dashed #000;padding:0\"><div class=\"ps21377 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21376\">United Kingdom, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps11670 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-40131897 ps132\">Other Whiskey</span><span class=\"f charStyle-85922b7e ps21319\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21378 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">3.8<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21379 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5638 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-ba8ac8da ps132\">House of Agave<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21380 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps21359\"></span><span class=\"ps21359\">9.6<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21381 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-c70bfe2f\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11177 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">Espol\u00f2n<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21382 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">8.6<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21383 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21384 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21351\">United States, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21385 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21367\">Australia, Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"border-bottom:0.5pt dashed #000;padding:0\"><div class=\"ps21386 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21349\">Italy, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps14245 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-40131897 ps132\">Other</span><span class=\"f charStyle-85922b7e ps21324\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21387 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">1.0<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt dashed #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21388 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps13386 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-ba8ac8da ps132\">House of Cognac&amp;Champagne<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21389 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps21359\"></span><span class=\"ps21359\">9.9<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt dashed #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21390 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-c70bfe2f\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21391 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">Grand Marnier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21392 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">4.2<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21393 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21394 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21351\">United States, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21396 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21395\">Canada, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"border-bottom:0.5pt dashed #000;padding:0\"><div class=\"ps21398 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21397\">France, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21399 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-40131897 ps132\">Courvoisier</span><span class=\"f charStyle-85922b7e ps4750\"><sup>(6)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21400 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">5.2<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21401 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21402 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21351\">United States, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21403 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21376\">United Kingdom, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"border-bottom:0.5pt dashed #000;padding:0\"><div class=\"ps21404 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps6435\">South Africa, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21405 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-40131897 ps132\">Other Cognac&amp;Champagne</span><span class=\"f charStyle-85922b7e ps21330\"><sup>(7)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21406 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">0.6<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21407 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11187 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-ba8ac8da ps132\">local brands<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21408 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps21345\"></span><span class=\"ps21345\">22.7<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21409 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-c70bfe2f\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21410 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">SKYY<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21411 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">3.9<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21412 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps21413 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">Sparkling Wines&amp;Vermouth<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21414 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">5.2<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21415 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21416 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21417 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21345\"></span><span class=\"ps21345\">13.5<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21418 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21419 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-ba8ac8da ps132\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21421 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps21420\"></span><span class=\"ps21420\">100.0<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21422 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-c70bfe2f\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21428 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:27.01pt\"><sup>(2-3-4-5-6-7) </sup></span><span class=\"f charStyle-40131897 ps21427\" style=\"width:213.37pt\">For notes from 2 to 7, please refer to the disclosure in previous table.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-442": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Net Sales <span id=\"ide1e1f2c0eb248749a3d6e25ca42040c\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:91.69pt\">Revenue recognition</span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Revenues are recognised when the customer gains control of the goods. Transfer of control is determined using</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:336.05pt\">a five-step analytical model applied to all revenues from customer contracts.</span><span class=\"f charStyle-2293a859 ps21256\" style=\"width:2.77pt\"> </span></div><div class=\"ps1266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">This occurs when the goods are delivered to the customer, who has complete discretion over the sales channel<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">and price of the products themselves, and there is no unfulfilled obligation that could affect acceptance by the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">customer. Delivery takes place when the products have been shipped to the specific location, the risks of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">obsolescence and loss have been transferred to the customer and the customer has accepted the products in</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">accordance with the sales contract, the terms and conditions of acceptance have expired, or the Group has</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1275 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">objective evidence that all criteria for acceptance have been met. The Group\u2019s revenues mainly include sales of</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">spirits on the market and, to a marginal extent, revenues from co-packing services in some way linked to the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">Group\u2019s core business, for which the breakdown of sales is not disclosed in consideration of their limited</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:52.22pt\">importance.</span></div><div class=\"ps1282 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">Revenues are recognised at the price stated in the contract, net of any estimates of deferred discounts or</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1284 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:338.25pt\">incentives granted to the customer in line with industry practice, for example:</span><span class=\"f charStyle-2293a859 ps21257\" style=\"width:2.77pt\"> </span></div><div class=\"ps1285 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:433.33pt\">volume/value discounts based on cumulative sales above a threshold at the end of a given period;</span></div><div class=\"ps1287 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.03pt\">performance-based discounts (such as discounts, rebates, performance bonuses, logistical discounts),</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1288 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:393.33pt\">based on promotional activities carried out by the customer and agreed upon in advance;</span></div><div class=\"ps1289 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.02pt\">customer incentives, such as discount vouchers, free products, price protection, market development</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1290 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:325.54pt\">allowances and price reduction allowances (to compensate for low sales);</span></div><div class=\"ps1291 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:351.66pt\">product placement allowances (such as contributions for placement and range).</span></div><div class=\"ps1292 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-2293a859 ps56\">Historical experience is used to estimate deferred discounts/incentives based on agreements with customers, </span></div><div class=\"ps21258 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-2293a859 ps56\">and revenues are recognised only to the extent that it is highly probable that there will be no need for <span class=\"f ps21\"> </span></span></div><div class=\"ps21259 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-2293a859 ps56\">subsequent significant adjustments.</span></div><div class=\"ps21260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">No financing element is deemed to be present as sales are made with only a brief delay before payment:</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21261 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">contracts are generally not entered into when there is more than one year between the transfer of the goods and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps21263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:131.09pt\">the payment by the customer.</span><span class=\"f charStyle-2293a859 ps21262\" style=\"width:2.77pt\"> </span></div><div class=\"ps21264 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Discounts relating to specific payment terms that lower the Group entity\u2019s collection risk or reduce administrative</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21265 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">costs, and/or improve liquidity (such as payments at the time of sale), are recognised as a reduction in<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:43.9pt\">revenues.</span></div><div class=\"ps21267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">A liability reducing the related trade receivable is recognised for deferred discounts due to customers in relation</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">to sales made up to the end of the period. Such liabilities can then be offset against the amounts payable by the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps21269 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">customer. Receivables are recognised when the goods are delivered, as this is the point in time that the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:436.66pt\">consideration is unconditional because only the passage of time is required before payment is due.</span></div><div class=\"ps14422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:137.23pt\">Consumption taxes recognition</span></div><div class=\"ps14423 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">The Group incurs consumption taxes worldwide. In most jurisdictions, excise duty is a production tax that is</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps14424 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">payable by the manufacturer, becomes payable when the product is removed from captive warehouses, and is</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps2951 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">not directly related to the sales value: the excise duty is consequently recognised as a cost for the Group.</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps14425 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Excise duties are normally recovered through the sales, although they are generally not shown as a separate</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps14426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">item on external invoices. Excise duty increases are not always passed on to the customer, and if a customer</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">does not pay for the product received, the Group cannot request a refund of the excise duty. For excise duties</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21271 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">passed on to customers, the Group considers itself an agent of the regulatory authorities, and consequently, the</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps21272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">re-invoiced excise values are excluded from the presentation of net sales in the primary statements and are</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps21274 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:222.54pt\">presented to offset the cost incurred by the Group.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps21273\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:99.44pt\">Net sales presentation</span></div><div class=\"ps21277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Net sales relate to spirit products in Campari Group\u2019s markets. Their nature, amount, timing and uncertainty, as</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21278 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">well as the corresponding cash flows, are affected by economic and business factors which differ across</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21279 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">markets, also as a function of their different sizes and maturity profiles. These elements are primarily attributable</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">to demographics, consumption habits also influenced by historical, social and climatic factors, local consumer</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">taste preferences, propensity to consume, the market commercial structure in terms of the weight of the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21281 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">distribution channels (off-premise vs. on-premise) as well as the retailers\u2019 concentration. As an effect of the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21282 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">above factors, the sales composition by brand differs from market to market. Therefore, the level of analysis of</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21284 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:284.43pt\">sales by operating segment reflects the four geographical areas.</span><span class=\"f charStyle-2293a859 ps21283\" style=\"width:2.77pt\"> </span></div><div class=\"ps21285 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">In order to highlight the main business performance drivers in a diversified context and to assess the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps7899 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">contribution of the different brands to the overall sales performance of the Group, further breakdowns by brand</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">category (i.e., Houses of Brands) and for major brands are provided to better explain their contribution to the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:30.56pt\">region.</span><span class=\"f charStyle-2293a859 ps21286\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:330.62pt\">Net sales, which almost entirely relate to the sale of spirits, totalled \u20ac</span><span class=\"f charStyle-58d8bcbe ps21287\" style=\"width:33.34pt\">3,051.2</span><span class=\"f charStyle-58d8bcbe ps21288\" style=\"width:132.15pt\"> million at total Group level,</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:75.81pt\">compared with \u20ac<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21289\" style=\"width:33.34pt\">3,069.7</span><span class=\"f charStyle-58d8bcbe ps21290\" style=\"width:178.03pt\"> million in the previous year. The year </span><span class=\"f charStyle-58d8bcbe ps21291\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps21292\" style=\"width:42.48pt\"> showed </span><span class=\"f charStyle-58d8bcbe ps21293\" style=\"width:144.26pt\">positive organic top-line growth,</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">despite a persistently challenging macroeconomic environment, offset by the exchange rate component with</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">negligible combined effect from perimeter mostly linked to Courvoisier acquisition and Cinzano and Frattina</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:85.17pt\">business disposal. </span><span class=\"f charStyle-58d8bcbe ps21294\" style=\"width:411.04pt\">To highlight the key business performance drivers within a geographically diversified context</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">and assess the contribution of brands on the Group's overall sales performance, additional disclosures are<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">provided. These include a breakdown by the four newly established category divisions, the Houses of Brands,</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:317.17pt\">with their principal brands and the most significant regions and markets.</span></div><div class=\"ps9482 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:297pt\"></td><td style=\"padding:0;width:98.25pt\"></td><td style=\"padding:0;width:99.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9100 ss1343\"><div><div class=\"ps485 ss504\"><span class=\"f charStyle-183bdf94 ps7718\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1664\"><div><div class=\"ps485 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Net sales focus by region<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9493 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps21295\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21298 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps21297\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1664\"><div><div class=\"ps485 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21301 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps20448\">1,337.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps11608\">1,388.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps914 ss1664\"><div><div class=\"ps485 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">EMEA<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21303 ss554\"><div><div class=\"ps476 ss553\"><span class=\"f charStyle-183bdf94 ps20448\">1,513.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps11608\">1,464.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1664\"><div><div class=\"ps485 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21306 ss554\"><div><div class=\"ps476 ss553\"><span class=\"f charStyle-183bdf94 ps21305\">199.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21307 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps11621\">216.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1664\"><div><div class=\"ps485 ss1663\"><span class=\"f charStyle-ba8ac8da ps132\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21308 ss554\"><div><div class=\"ps476 ss553\"><span class=\"f charStyle-ba8ac8da ps20448\">3,051.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21309 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-ba8ac8da ps11608\">3,069.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21337 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:297pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9100 ss1343\"><div><div class=\"ps476 ss504\"><span class=\"f charStyle-183bdf94 ps7718\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9493 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21311\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11594 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-40131897 ps21312\">2024</span><span class=\"f charStyle-85922b7e ps21313\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21298 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4046 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-ba8ac8da ps132\">House of Aperitifs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21301 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps21315\">1,337.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4070 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps21315\">1,326.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Aperol<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21303 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">785.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11603 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">782.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Campari<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21306 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">323.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11606 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">338.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-40131897 ps132\">Crodino&amp;Other Aperitifs</span><span class=\"f charStyle-85922b7e ps4641\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21308 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">229.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11610 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">205.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-ba8ac8da ps132\">House of Whiskey&amp;Rum<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21316 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">426.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11615 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">437.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Wild Turkey&amp;Russell's Reserve<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21317 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">156.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11618 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">165.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-40131897 ps132\">Jamaican rums portfolio</span><span class=\"f charStyle-85922b7e ps4673\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21318 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">152.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11623 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">147.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6297 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-40131897 ps132\">Other Whiskey</span><span class=\"f charStyle-85922b7e ps21319\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21321 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21320\">116.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11629 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">125.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6300 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-ba8ac8da ps132\">House of Agave<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21322 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">292.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11634 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">294.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps5134 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Espol\u00f2n<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21323 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">262.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11638 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">264.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-40131897 ps132\">Other</span><span class=\"f charStyle-85922b7e ps21324\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21326 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">30.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11641 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">29.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-ba8ac8da ps132\">House of Cognac&amp;Champagne<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21327 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">303.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11644 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">238.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Grand Marnier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21328 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">127.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11648 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">144.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11650 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-40131897 ps132\">Courvoisier</span><span class=\"f charStyle-85922b7e ps4750\"><sup>(6)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21329 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">157.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11653 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">74.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11655 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-40131897 ps132\">Other Cognac&amp;Champagne</span><span class=\"f charStyle-85922b7e ps21330\"><sup>(7)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21331 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">18.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11658 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">19.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11659 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-ba8ac8da ps132\">local brands<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21332 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">691.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11662 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">772.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11663 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">SKYY<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21333 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">120.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11666 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">127.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11174 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Sparkling Wines&amp;Vermouth<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21334 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">158.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11669 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">165.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11670 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21335 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">412.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11673 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">479.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5638 ss1664\"><div><div class=\"ps476 ss1663\"><span class=\"f charStyle-ba8ac8da ps132\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21336 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps21315\">3,051.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11678 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps21315\">3,069.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21338 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:427.52pt\">For information on reclassifications of comparative figures, refer to note \u2018Group Significant Events and Corporate and Sustainable Actions\u2019.</span></div><div class=\"ps21339 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(2)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:150.02pt\"> Includes Campari Soda, Sarti, Picon and Cynar.</span></div><div class=\"ps21340 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(3)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:216.77pt\"> Includes Appleton Estate, Wray&amp;Nephew Overproof and Kingston 62.</span></div><div class=\"ps21341 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(4)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:383.79pt\"> Includes The GlenGrant, American Honey, American Honey ready-to-drink, Wild Turkey ready-to-drink and Wilderness Trail.</span></div><div class=\"ps21342 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(5) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:270.32pt\">Includes Montelobos, Cabo Wabo, Ancho Reyes, Espol\u00f2n ready-to-drink and Mayenda.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-40131897 ps4831\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21343 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(6) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:56.75pt\">Includes Salignac.</span></div><div class=\"ps21344 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-85922b7e ps579\"><sup>(7) </sup></span><span class=\"f charStyle-40131897 ps580\">Includes Bisquit&amp;Dubouch\u00e9 and Lallier.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:289.5pt\"></td><td style=\"padding:0;width:96pt\"></td><td style=\"padding:0;width:110.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21423 ss1672\"><div><div class=\"ps476 ss1671\"><span class=\"f charStyle-183bdf94 ps11780\">for the year ended 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21425 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps21424\">percentage of Group sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7518 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps21426\">main country/region for brands<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-ba8ac8da ps132\">House of Aperitifs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21347 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps21345\"></span><span class=\"ps21345\">43.8<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">Aperol<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21348 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21345\"></span><span class=\"ps21345\">25.7<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16223 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps16227 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21349\">Italy, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps16230 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21350\">Germany, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"border-bottom:0.5pt dashed #000;padding:0\"><div class=\"ps21352 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21351\">United States, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt dashed #000;padding:0\"><div class=\"ps4962 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">Campari<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21353 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21345\"></span><span class=\"ps21345\">10.6<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21354 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21355 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21349\">Italy, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21357 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21356\">Brazil, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"border-bottom:0.5pt dashed #000;padding:0\"><div class=\"ps21358 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21351\">United States, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps6300 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-40131897 ps132\">Crodino&amp;Other Aperitifs</span><span class=\"f charStyle-85922b7e ps4641\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21360 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">7.5<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21361 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5134 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-ba8ac8da ps132\">House of Whiskey&amp;Rum<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21362 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps21345\"></span><span class=\"ps21345\">14.0<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21363 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-c70bfe2f\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">Wild Turkey&amp;Russell's Reserve<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21364 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">5.1<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21365 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21366 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21351\">United States, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21368 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21367\">Australia, Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"border-bottom:0.5pt dashed #000;padding:0\"><div class=\"ps21370 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21369\">South Korea, Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt dashed #000;padding:0\"><div class=\"ps11655 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-40131897 ps132\">Jamaican rums portfolio</span><span class=\"f charStyle-85922b7e ps4673\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21371 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">5.0<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21372 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21374 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21373\">Jamaica, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21375 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21351\">United States, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"border-bottom:0.5pt dashed #000;padding:0\"><div class=\"ps21377 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21376\">United Kingdom, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps11670 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-40131897 ps132\">Other Whiskey</span><span class=\"f charStyle-85922b7e ps21319\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21378 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">3.8<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21379 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5638 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-ba8ac8da ps132\">House of Agave<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21380 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps21359\"></span><span class=\"ps21359\">9.6<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21381 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-c70bfe2f\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11177 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">Espol\u00f2n<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21382 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">8.6<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21383 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21384 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21351\">United States, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21385 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21367\">Australia, Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"border-bottom:0.5pt dashed #000;padding:0\"><div class=\"ps21386 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21349\">Italy, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps14245 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-40131897 ps132\">Other</span><span class=\"f charStyle-85922b7e ps21324\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21387 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">1.0<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt dashed #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21388 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps13386 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-ba8ac8da ps132\">House of Cognac&amp;Champagne<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21389 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps21359\"></span><span class=\"ps21359\">9.9<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt dashed #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21390 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-c70bfe2f\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21391 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">Grand Marnier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21392 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">4.2<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21393 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21394 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21351\">United States, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21396 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21395\">Canada, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"border-bottom:0.5pt dashed #000;padding:0\"><div class=\"ps21398 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21397\">France, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21399 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-40131897 ps132\">Courvoisier</span><span class=\"f charStyle-85922b7e ps4750\"><sup>(6)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21400 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">5.2<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21401 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21402 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21351\">United States, AMERICAS<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"><div class=\"ps21403 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps21376\">United Kingdom, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dashed #000;padding:0\"></td><td style=\"border-bottom:0.5pt dashed #000;padding:0\"><div class=\"ps21404 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1 ps6435\">South Africa, EMEA<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21405 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-40131897 ps132\">Other Cognac&amp;Champagne</span><span class=\"f charStyle-85922b7e ps21330\"><sup>(7)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21406 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">0.6<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dashed #000;padding:0\"><div class=\"ps21407 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11187 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-ba8ac8da ps132\">local brands<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21408 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps21345\"></span><span class=\"ps21345\">22.7<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21409 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-c70bfe2f\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21410 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">SKYY<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21411 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">3.9<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21412 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps21413 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">Sparkling Wines&amp;Vermouth<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21414 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21359\"></span><span class=\"ps21359\">5.2<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21415 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21416 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21417 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94\"><span class=\"ps21345\"></span><span class=\"ps21345\">13.5<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21418 ss1369\"><div><div class=\"ps2776 ss1368\"><span class=\"f charStyle-d669f8f1\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21419 ss1668\"><div><div class=\"ps476 ss1667\"><span class=\"f charStyle-ba8ac8da ps132\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21421 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps21420\"></span><span class=\"ps21420\">100.0<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps21346\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21422 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-c70bfe2f\"><span class=\"ps16224\"></span><span class=\"ps16224\">-</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21428 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:27.01pt\"><sup>(2-3-4-5-6-7) </sup></span><span class=\"f charStyle-40131897 ps21427\" style=\"width:213.37pt\">For notes from 2 to 7, please refer to the disclosure in previous table.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-441": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Net Sales <span id=\"ide1e1f2c0eb248749a3d6e25ca42040c\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:91.69pt\">Revenue recognition</span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Revenues are recognised when the customer gains control of the goods. Transfer of control is determined using</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:336.05pt\">a five-step analytical model applied to all revenues from customer contracts.</span><span class=\"f charStyle-2293a859 ps21256\" style=\"width:2.77pt\"> </span></div><div class=\"ps1266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">This occurs when the goods are delivered to the customer, who has complete discretion over the sales channel<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">and price of the products themselves, and there is no unfulfilled obligation that could affect acceptance by the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">customer. Delivery takes place when the products have been shipped to the specific location, the risks of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">obsolescence and loss have been transferred to the customer and the customer has accepted the products in</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">accordance with the sales contract, the terms and conditions of acceptance have expired, or the Group has</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1275 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">objective evidence that all criteria for acceptance have been met. The Group\u2019s revenues mainly include sales of</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">spirits on the market and, to a marginal extent, revenues from co-packing services in some way linked to the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">Group\u2019s core business, for which the breakdown of sales is not disclosed in consideration of their limited</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:52.22pt\">importance.</span></div><div class=\"ps1282 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">Revenues are recognised at the price stated in the contract, net of any estimates of deferred discounts or</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1284 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:338.25pt\">incentives granted to the customer in line with industry practice, for example:</span><span class=\"f charStyle-2293a859 ps21257\" style=\"width:2.77pt\"> </span></div><div class=\"ps1285 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:433.33pt\">volume/value discounts based on cumulative sales above a threshold at the end of a given period;</span></div><div class=\"ps1287 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.03pt\">performance-based discounts (such as discounts, rebates, performance bonuses, logistical discounts),</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1288 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:393.33pt\">based on promotional activities carried out by the customer and agreed upon in advance;</span></div><div class=\"ps1289 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.02pt\">customer incentives, such as discount vouchers, free products, price protection, market development</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1290 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:325.54pt\">allowances and price reduction allowances (to compensate for low sales);</span></div><div class=\"ps1291 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:351.66pt\">product placement allowances (such as contributions for placement and range).</span></div><div class=\"ps1292 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-2293a859 ps56\">Historical experience is used to estimate deferred discounts/incentives based on agreements with customers, </span></div><div class=\"ps21258 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-2293a859 ps56\">and revenues are recognised only to the extent that it is highly probable that there will be no need for <span class=\"f ps21\"> </span></span></div><div class=\"ps21259 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-2293a859 ps56\">subsequent significant adjustments.</span></div><div class=\"ps21260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">No financing element is deemed to be present as sales are made with only a brief delay before payment:</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21261 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">contracts are generally not entered into when there is more than one year between the transfer of the goods and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps21263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:131.09pt\">the payment by the customer.</span><span class=\"f charStyle-2293a859 ps21262\" style=\"width:2.77pt\"> </span></div><div class=\"ps21264 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Discounts relating to specific payment terms that lower the Group entity\u2019s collection risk or reduce administrative</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21265 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">costs, and/or improve liquidity (such as payments at the time of sale), are recognised as a reduction in<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:43.9pt\">revenues.</span></div><div class=\"ps21267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">A liability reducing the related trade receivable is recognised for deferred discounts due to customers in relation</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">to sales made up to the end of the period. Such liabilities can then be offset against the amounts payable by the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps21269 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">customer. Receivables are recognised when the goods are delivered, as this is the point in time that the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:436.66pt\">consideration is unconditional because only the passage of time is required before payment is due.</span></div><div class=\"ps14422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:137.23pt\">Consumption taxes recognition</span></div><div class=\"ps14423 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">The Group incurs consumption taxes worldwide. In most jurisdictions, excise duty is a production tax that is</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps14424 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">payable by the manufacturer, becomes payable when the product is removed from captive warehouses, and is</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps2951 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">not directly related to the sales value: the excise duty is consequently recognised as a cost for the Group.</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps14425 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Excise duties are normally recovered through the sales, although they are generally not shown as a separate</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps14426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">item on external invoices. Excise duty increases are not always passed on to the customer, and if a customer</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">does not pay for the product received, the Group cannot request a refund of the excise duty. For excise duties</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21271 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">passed on to customers, the Group considers itself an agent of the regulatory authorities, and consequently, the</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps21272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">re-invoiced excise values are excluded from the presentation of net sales in the primary statements and are</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps21274 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:222.54pt\">presented to offset the cost incurred by the Group.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps21273\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:99.44pt\">Net sales presentation</span></div><div class=\"ps21277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Net sales relate to spirit products in Campari Group\u2019s markets. Their nature, amount, timing and uncertainty, as</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21278 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">well as the corresponding cash flows, are affected by economic and business factors which differ across</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21279 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">markets, also as a function of their different sizes and maturity profiles. These elements are primarily attributable</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">to demographics, consumption habits also influenced by historical, social and climatic factors, local consumer</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">taste preferences, propensity to consume, the market commercial structure in terms of the weight of the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21281 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">distribution channels (off-premise vs. on-premise) as well as the retailers\u2019 concentration. As an effect of the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21282 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">above factors, the sales composition by brand differs from market to market. Therefore, the level of analysis of</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21284 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:284.43pt\">sales by operating segment reflects the four geographical areas.</span><span class=\"f charStyle-2293a859 ps21283\" style=\"width:2.77pt\"> </span></div><div class=\"ps21285 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">In order to highlight the main business performance drivers in a diversified context and to assess the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps7899 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">contribution of the different brands to the overall sales performance of the Group, further breakdowns by brand</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">category (i.e., Houses of Brands) and for major brands are provided to better explain their contribution to the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:30.56pt\">region.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-445": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Operating Segment<span id=\"i9bfb064a7e5347728d18ed800c2cde78\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">For management purposes, the Group is organised into business units and has three reportable segments.</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21431 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">Each segment's business results, their nature, amount, timing and uncertainty as well as the related cash flow,</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps655 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">are affected by economic factors influenced by homogeneous elements primarily attributable to geographical<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21433 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:340.73pt\">areas\u2019 features, although markets have different sizes and maturity profiles. </span><span class=\"f charStyle-2293a859 ps21432\" style=\"width:155.45pt\">Secondarily, the definition of brand</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1532 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">priorities and the establishment of overarching guidelines for each brand cluster is managed by the Houses of</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21435 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:278.47pt\">Brands and is affecting the resource allocation to each region. </span><span class=\"f charStyle-2293a859 ps21434\" style=\"width:217.61pt\">The level of profitability analysed is the operating</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21436 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">result by the following regions: Americas (\u2018AMERICAS\u2019), Europe, Middle-East and Africa (\u2018EMEA\u2019) and Asia-</span></div><div class=\"ps21437 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">Pacific. The profitability of each region reflects the profit generated by the Group through sales to third parties in</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps21438 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">that region, thereby eliminating the effects of inter-company margins. In terms of financial position, the goodwill</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21439 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">is assigned to operating segments reflecting the allocation defined at the time of the related business</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps16940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.67pt\">combination.</span></div><div class=\"ps21441 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21443 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:42.77pt\">Segment </span><span class=\"f charStyle-ca5f4806 ps6065\" style=\"width:43.34pt\">Reporting</span></div><div class=\"ps21495 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:134.25pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss818\"><div><div class=\"ps2579 ss812\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14684 ss1673\"><div><div class=\"ps2579 ss112\"><span class=\"f charStyle-183bdf94 ps4094\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11953 ss1673\"><div><div class=\"ps2579 ss112\"><span class=\"f charStyle-183bdf94 ps21445\">EMEA<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14948 ss1673\"><div><div class=\"ps2579 ss112\"><span class=\"f charStyle-183bdf94 ps21446\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14685 ss1673\"><div><div class=\"ps2579 ss112\"><span class=\"f charStyle-183bdf94 ps21447\">total allocated<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9579 ss1673\"><div><div class=\"ps2578 ss112\"><span class=\"f charStyle-183bdf94 ps16009\">non-allocated <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss112\"><span class=\"f charStyle-183bdf94 ps21448\">items and </span></div><div class=\"ps2580 ss112\"><span class=\"f charStyle-183bdf94 ps9097\">adjustments</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13247 ss1673\"><div><div class=\"ps2579 ss112\"><span class=\"f charStyle-183bdf94 ps6638\">consolidated<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21449 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps8268\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21450 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps8268\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18256 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps8268\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21451 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps8268\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21452 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps8268\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21453 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps8268\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1146 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Net sales to third-parties<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21455 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21454\">1,337.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21456 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21454\">1,513.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21458 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">199.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21459 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21454\">3,051.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21460 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps15310\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21461 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21454\">3,051.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1089 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Net sales between segments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21463 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">77.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21464 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">242.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21465 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps15310\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21466 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">319.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21468 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(319.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21469 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps15310\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5064 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-ba8ac8da ps132\">Total net sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21470 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21454\">1,414.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21471 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21454\">1,756.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21472 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21457\">199.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21473 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21454\">3,370.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21474 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21467\">(319.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21475 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21454\">3,051.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5071 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-ba8ac8da ps132\">Operating result<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14719 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21457\">223.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21476 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21457\">361.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21478 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21477\">(16.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14724 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21457\">567.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21479 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps15310\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21480 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21457\">567.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Operating result<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21481 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps15310\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21482 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">567.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"padding:0\"><div class=\"ps5091 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Financial income (expenses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps21483 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21484 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5099 ss1340\"><div><div class=\"ps2776 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Share of profit (loss) of joint-ventures and <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss812\"><span class=\"f charStyle-183bdf94 ps132\">other investments</span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps21485 ss260\"><div><div class=\"ps979 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(56.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21486 ss260\"><div><div class=\"ps979 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(56.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"padding:0\"><div class=\"ps11352 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Taxation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps21487 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(127.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21488 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(127.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8618 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-ba8ac8da ps132\">Profit for the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21489 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps15310\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21490 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21457\">333.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11252 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Non-controlling interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21491 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21492 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps947 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-ba8ac8da ps132\">Group profit for the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21493 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps15310\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21494 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21457\">346.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21505 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:134.25pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss818\"><div><div class=\"ps5026 ss812\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December 2024 <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss812\"><span class=\"f charStyle-183bdf94 ps132\">reclassified</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14684 ss1673\"><div><div class=\"ps2579 ss112\"><span class=\"f charStyle-183bdf94 ps4094\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11953 ss1673\"><div><div class=\"ps2579 ss112\"><span class=\"f charStyle-183bdf94 ps21445\">EMEA<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14948 ss1673\"><div><div class=\"ps2579 ss112\"><span class=\"f charStyle-183bdf94 ps21446\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14685 ss1673\"><div><div class=\"ps2579 ss112\"><span class=\"f charStyle-183bdf94 ps21447\">total allocated<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9579 ss1673\"><div><div class=\"ps2578 ss112\"><span class=\"f charStyle-183bdf94 ps16009\">non-allocated <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss112\"><span class=\"f charStyle-183bdf94 ps21448\">items and </span></div><div class=\"ps2580 ss112\"><span class=\"f charStyle-183bdf94 ps9097\">adjustments</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13247 ss1673\"><div><div class=\"ps2579 ss112\"><span class=\"f charStyle-183bdf94 ps6638\">consolidated<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21449 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps8268\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21450 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps8268\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18256 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps8268\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21451 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps8268\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21452 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps8268\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21453 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps8268\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1146 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Net sales to third parties<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21455 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21454\">1,388.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21456 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21454\">1,464.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21458 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">216.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21459 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21454\">3,069.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21460 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps15310\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21461 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21454\">3,069.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1089 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Net sales between segments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21463 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">74.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21464 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">255.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21465 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21496\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21466 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">330.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21468 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(330.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21469 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps15310\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5064 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-ba8ac8da ps132\">Total net sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21470 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21454\">1,463.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21471 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21454\">1,719.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21472 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21457\">216.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21473 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21454\">3,399.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21474 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21467\">(330.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21475 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21454\">3,069.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5071 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-ba8ac8da ps132\">Operating result reclassified<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14719 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21457\">214.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21476 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21457\">207.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21478 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21477\">(29.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14724 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21457\">392.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21479 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps15310\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21480 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21457\">392.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Operating result<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21481 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps15310\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21482 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">392.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"padding:0\"><div class=\"ps5091 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Financial income (expenses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps21483 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21484 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"padding:0\"><div class=\"ps5099 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Share of profit (loss) of joint-ventures<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps21485 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(59.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21486 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(59.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"padding:0\"><div class=\"ps5110 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Taxation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps21497 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(63.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21498 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(63.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5120 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-ba8ac8da ps132\">Profit for the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21499 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps15310\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21500 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21457\">192.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5127 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Non-controlling interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21502 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21501\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21503 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-183bdf94 ps21501\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5134 ss1675\"><div><div class=\"ps3318 ss812\"><span class=\"f charStyle-ba8ac8da ps132\">Group profit for the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9627 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps15310\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21504 ss1674\"><div><div class=\"ps3318 ss112\"><span class=\"f charStyle-ba8ac8da ps21457\">201.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6798 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:62.23pt\">Geographical <span class=\"f ps21\"> </span></span><span class=\"f charStyle-ca5f4806 ps21506\" style=\"width:49.99pt\">Information</span></div><div class=\"ps6801 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">The figures reported below refer to the net sales to third parties and non-current non-financial assets pertaining</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps6804 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:296.05pt\">to the legal entities incorporated in the relevant country of domicile.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:205.5pt\"></td><td style=\"padding:0;width:87.75pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:9.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5024 ss285\"><div><div class=\"ps3318 ss284\"><span class=\"f charStyle-183bdf94 ps21507\">net sales to third-parties<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5036 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21508 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21509 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21510 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps3322 ss1678\"><div><div class=\"ps3318 ss1676\"><span class=\"f charStyle-ba8ac8da ps132\">country of domicile<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21511 ss1679\"><div><div class=\"ps3318 ss394\"><span class=\"f charStyle-ba8ac8da ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21512 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">532.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21513 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">526.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2968 ss1678\"><div><div class=\"ps3318 ss1676\"><span class=\"f charStyle-ba8ac8da ps132\">other countries<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21515 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">2,518.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21516 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">2,542.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21517 ss1679\"><div><div class=\"ps3318 ss394\"><span class=\"f charStyle-183bdf94 ps132\">United States<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21518 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">854.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21519 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">877.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-top:0.5pt solid #ffffff;padding:0\"></td><td style=\"border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps21520 ss1679\"><div><div class=\"ps3318 ss394\"><span class=\"f charStyle-183bdf94 ps132\">Germany<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps21521 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">240.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps21522 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">253.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps21523 ss399\"><div><div class=\"ps485 ss394\"><span class=\"f charStyle-183bdf94 ps132\">United Kingdom<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21524 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">172.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21525 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">156.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps21526 ss1679\"><div><div class=\"ps3318 ss394\"><span class=\"f charStyle-183bdf94 ps132\">Jamaica<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21527 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">165.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21528 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">179.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps21529 ss1679\"><div><div class=\"ps3318 ss394\"><span class=\"f charStyle-183bdf94 ps132\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21530 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">162.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21531 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">160.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps21532 ss1679\"><div><div class=\"ps3318 ss394\"><span class=\"f charStyle-183bdf94 ps132\">Brazil<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21534 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps21533\">114.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21535 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps21533\">114.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21536 ss1679\"><div><div class=\"ps3318 ss394\"><span class=\"f charStyle-183bdf94 ps132\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21537 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">809.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21538 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">801.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14227 ss1678\"><div><div class=\"ps3318 ss1676\"><span class=\"f charStyle-ba8ac8da ps132\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21539 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">3,051.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21540 ss1677\"><div><div class=\"ps3318 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">3,069.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21570 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:206.25pt\"></td><td style=\"padding:0;width:87.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:9.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12075 ss1680\"><div><div class=\"ps3318 ss831\"><span class=\"f charStyle-40131897 ps21541\">non-current non-financial assets</span><span class=\"f charStyle-85922b7e ps21542\"><sup> (1)</sup></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21544 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21508 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21546 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21510 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps3322 ss1682\"><div><div class=\"ps3318 ss1671\"><span class=\"f charStyle-ba8ac8da ps132\">country of domicile<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21547 ss1679\"><div><div class=\"ps3318 ss394\"><span class=\"f charStyle-ba8ac8da ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21549 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-ba8ac8da ps21548\">875.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21513 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-ba8ac8da ps21548\">946.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2968 ss1682\"><div><div class=\"ps3318 ss1671\"><span class=\"f charStyle-ba8ac8da ps132\">other countries<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21551 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-ba8ac8da ps21550\">4,177.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21516 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-ba8ac8da ps21550\">4,486.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21552 ss1679\"><div><div class=\"ps3318 ss394\"><span class=\"f charStyle-183bdf94 ps132\">United States<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21553 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21550\">1,602.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21519 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21550\">1,798.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-top:0.5pt solid #ffffff;padding:0\"></td><td style=\"border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps21554 ss1679\"><div><div class=\"ps3318 ss394\"><span class=\"f charStyle-183bdf94 ps132\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps21555 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21550\">1,548.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps21522 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21550\">1,552.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps21556 ss1679\"><div><div class=\"ps3318 ss394\"><span class=\"f charStyle-183bdf94 ps132\">Jamaica<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21557 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21548\">337.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21525 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21548\">362.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps21558 ss1679\"><div><div class=\"ps3318 ss394\"><span class=\"f charStyle-183bdf94 ps132\">Mexico<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21559 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21548\">243.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21560 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21548\">229.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps21561 ss399\"><div><div class=\"ps485 ss394\"><span class=\"f charStyle-183bdf94 ps132\">United Kingdom<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21562 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21548\">154.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21563 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21548\">220.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps21564 ss1679\"><div><div class=\"ps3318 ss394\"><span class=\"f charStyle-183bdf94 ps132\">Brazil<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21566 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">50.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21535 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">47.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21567 ss1679\"><div><div class=\"ps3318 ss394\"><span class=\"f charStyle-183bdf94 ps132\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21568 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21548\">241.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21538 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-183bdf94 ps21548\">276.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14227 ss1682\"><div><div class=\"ps3318 ss1671\"><span class=\"f charStyle-ba8ac8da ps132\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21569 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-ba8ac8da ps21550\">5,053.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21540 ss1681\"><div><div class=\"ps3318 ss1000\"><span class=\"f charStyle-ba8ac8da ps21550\">5,433.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:337.91pt\">Non\u2011current assets other than financial instruments, deferred tax assets and post\u2011employment benefit assets.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-444": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Operating Segment<span id=\"i9bfb064a7e5347728d18ed800c2cde78\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">For management purposes, the Group is organised into business units and has three reportable segments.</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21431 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">Each segment's business results, their nature, amount, timing and uncertainty as well as the related cash flow,</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps655 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">are affected by economic factors influenced by homogeneous elements primarily attributable to geographical<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21433 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:340.73pt\">areas\u2019 features, although markets have different sizes and maturity profiles. </span><span class=\"f charStyle-2293a859 ps21432\" style=\"width:155.45pt\">Secondarily, the definition of brand</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1532 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">priorities and the establishment of overarching guidelines for each brand cluster is managed by the Houses of</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21435 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:278.47pt\">Brands and is affecting the resource allocation to each region. </span><span class=\"f charStyle-2293a859 ps21434\" style=\"width:217.61pt\">The level of profitability analysed is the operating</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21436 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">result by the following regions: Americas (\u2018AMERICAS\u2019), Europe, Middle-East and Africa (\u2018EMEA\u2019) and Asia-</span></div><div class=\"ps21437 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">Pacific. The profitability of each region reflects the profit generated by the Group through sales to third parties in</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps21438 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">that region, thereby eliminating the effects of inter-company margins. In terms of financial position, the goodwill</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21439 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">is assigned to operating segments reflecting the allocation defined at the time of the related business</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps16940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.67pt\">combination.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-448": {
   "value": "<div class=\"ps21574 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Cost of Sales<span id=\"i98819556ac344cc98267ef954c0baf69\"></span></span></div><div class=\"ps20998 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21603 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5024 ss337\"><div><div class=\"ps485 ss284\"><span class=\"f charStyle-183bdf94 ps6070\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6072 ss1683\"><div><div class=\"ps979 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6073 ss1683\"><div><div class=\"ps2776 ss338\"><span class=\"f charStyle-40131897 ps6071\">2024</span></div><div class=\"ps2777 ss338\"><span class=\"f charStyle-40131897 ps21577\">reclassified</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21578 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21579 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Materials and manufacturing costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21580 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21514\">1,040.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21581 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21514\">1,107.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Distribution costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21582 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">170.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21583 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">170.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Total cost of sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21584 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">1,211.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21585 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">1,277.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss340\"><div><div class=\"ps6279 ss336\"><span class=\"f charStyle-d669f8f1 ps132\">Breakdown by nature<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Raw materials and finished goods acquired from third parties<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21586 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">733.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21563 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">834.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Inventory write-downs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21534 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">38.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21535 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">19.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5271 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Personnel costs</span><span class=\"f charStyle-85922b7e ps21587\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21588 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21533\">113.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21589 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21533\">116.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6904 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Depreciation/amortisation</span><span class=\"f charStyle-85922b7e ps21590\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21591 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">98.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21592 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">81.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4642 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Utilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21593 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">28.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21594 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">30.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4652 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">External production and maintenance costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21595 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">47.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21596 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">41.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4660 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Variable transport costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21597 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">131.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21598 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">125.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11256 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Other costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21599 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">19.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21600 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">27.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10236 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Total cost of sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21601 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">1,211.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21602 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">1,277.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21605 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.37pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps21604\" style=\"width:488.7pt\">For an analysis of personnel costs and depreciation and amortisation components by nature, please see also the breakdown of personnel costs in notes 3</span><span class=\"f charStyle-40131897 ps405\" style=\"width:1.94pt\"> </span></div><div class=\"ps21607 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:193.28pt\">vii-\u2018Personnel Costs\u2019 and 3 viii-\u2018Depreciation and Amortisation\u2019.</span><span class=\"f charStyle-40131897 ps21606\" style=\"width:3.88pt\">\u00a0 </span></div><div class=\"ps21609 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">The overall decrease is primarily attributable to lower material (namely agave components) and manufacturing</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps21610 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">costs, supported by cost efficiencies. Distribution expenses remained stable. As a percentage of net sales, the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21619 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:305.52pt\">cost of sales decreased compared to the previous year, moving from </span><span class=\"f charStyle-58d8bcbe ps21611\" style=\"width:28.34pt\">41.6%<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21612\" style=\"width:13.32pt\"> in </span><span class=\"f charStyle-58d8bcbe ps21613\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21614\" style=\"width:13.87pt\"> to </span><span class=\"f charStyle-58d8bcbe ps21615\" style=\"width:28.34pt\">39.7%</span><span class=\"f charStyle-58d8bcbe ps21616\" style=\"width:13.32pt\"> in </span><span class=\"f charStyle-58d8bcbe ps21617\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps21618\" style=\"width:2.77pt\">.</span></div><div class=\"ps21620 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Advertising and Promotional Expenses<span id=\"i38e16ae4cc22486889874175c224fddc\"></span></span></div><div class=\"ps7892 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps21622 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Point of sale materials are charged to advertising and promotional expenses at the time when the items are</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17504 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:49.46pt\">purchased.</span></div><div class=\"ps17505 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Costs incurred in research, developing alternative products or processes, or conducting technological research</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21624 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:390.52pt\">and development are recognised in profit or loss in the period in which they are incurred.</span><span class=\"f charStyle-2293a859 ps21623\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps8193 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:292.5pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:102pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21628 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps21627\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21629 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11768 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21631 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21633 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-183bdf94 ps132\">Merchandising and promotional costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21634 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">213.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21636 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">201.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-183bdf94 ps132\">Advertising spaces<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21637 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">152.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21638 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">143.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-183bdf94 ps132\">Media production<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21639 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">23.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21641 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">22.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-183bdf94 ps132\">Sponsorships, testimonial, influencers and events<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21642 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21533\">112.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21643 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">106.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-183bdf94 ps132\">Research and innovation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21644 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">26.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21645 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">25.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-40131897 ps132\">Depreciation/amortisation</span><span class=\"f charStyle-85922b7e ps21590\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21646 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">4.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21648 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21647\">4.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-40131897 ps132\">Personnel costs</span><span class=\"f charStyle-85922b7e ps21587\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21649 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">6.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21650 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21647\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-183bdf94 ps132\">Other advertising and promotional expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21651 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">7.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21652 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21647\">3.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6300 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-ba8ac8da ps132\">Total advertising and promotional expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21653 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">547.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21654 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">513.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21655 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.37pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps21604\" style=\"width:488.7pt\">For an analysis of personnel costs and depreciation and amortisation components by nature, please see also the breakdown of personnel costs in notes 3</span><span class=\"f charStyle-40131897 ps405\" style=\"width:1.94pt\"> </span></div><div class=\"ps21656 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:193.28pt\">vii-\u2018Personnel Costs\u2019 and 3 viii-\u2018Depreciation and Amortisation\u2019.</span></div><div class=\"ps21661 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:240.48pt\">Advertising and promotional expenses accounted for </span><span class=\"f charStyle-58d8bcbe ps21657\" style=\"width:28.34pt\">17.9%</span><span class=\"f charStyle-58d8bcbe ps21658\" style=\"width:130.44pt\"> of net sales, amounting to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21659\" style=\"width:25.01pt\">547.1</span><span class=\"f charStyle-58d8bcbe ps21660\" style=\"width:46.88pt\"> million in </span><span class=\"f charStyle-58d8bcbe ps3776\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps4287\" style=\"width:2.77pt\">.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.59pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21668 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:178.34pt\">This represents an overall increase of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21662\" style=\"width:19.45pt\">33.8</span><span class=\"f charStyle-58d8bcbe ps21663\" style=\"width:94.44pt\"> million compared to <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21664\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21665\" style=\"width:94.99pt\">, when they stood at </span><span class=\"f charStyle-58d8bcbe ps21666\" style=\"width:28.34pt\">16.7%<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21667\" style=\"width:58.32pt\"> of net sales.</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.22pt\"> </span></div><div class=\"ps21669 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Advertising and promotion expenses were strategically allocated and selectively intensified towards the brands</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:449.23pt\">identified as priorities within the refreshed business strategy, especially during seasonal peak periods.</span><span class=\"f charStyle-58d8bcbe ps21670\" style=\"width:2.77pt\"> </span></div><div class=\"ps21671 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Public Grants<span id=\"i454b57a919964efa9bfab2d35d29347e\"></span></span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:12.65pt\">In </span><span class=\"f charStyle-58d8bcbe ps21672\" style=\"width:162.22pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21673\" style=\"width:150.38pt\">, operating grants for an overall </span><span class=\"f charStyle-58d8bcbe ps21674\" style=\"width:52.1pt\">\u20ac0.8 million</span><span class=\"f charStyle-58d8bcbe ps21675\" style=\"width:118.83pt\"> (\u20ac1.3 million in the same</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:42.94pt\">period of </span><span class=\"f charStyle-58d8bcbe ps21676\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21677\" style=\"width:431.05pt\">) were recorded in the statement of profit or loss. These public contributions were mainly for the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:279.42pt\">support of industrial investments and sugar cane plantations in </span><span class=\"f charStyle-58d8bcbe ps21678\" style=\"width:183.69pt\">Martinique and employees training in Italy<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21679\" style=\"width:2.77pt\">.</span></div><div class=\"ps21680 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vi.\u00a0  Selling, General and Administrative Expenses and Other Income and Expenses from <span id=\"i5daa9e338bd74056960f49129f7d2fe2\"></span></span></div><div class=\"ps21681 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps56\">business disposal</span></div><div class=\"ps21683 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:271.48pt\">Disclosure Selling, General and Administrative Expenses</span></div><div class=\"ps21684 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5024 ss337\"><div><div class=\"ps476 ss284\"><span class=\"f charStyle-183bdf94 ps6070\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6072 ss1683\"><div><div class=\"ps979 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6073 ss1683\"><div><div class=\"ps2776 ss338\"><span class=\"f charStyle-40131897 ps6071\">2024</span></div><div class=\"ps2777 ss338\"><span class=\"f charStyle-40131897 ps21577\">reclassified</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21578 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21579 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Personnel costs</span><span class=\"f charStyle-85922b7e ps21587\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21580 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">443.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21581 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">526.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Services, maintenance and insurance<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21582 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">122.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21583 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">131.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Impairment of tangible assets, brands and business disposed<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21584 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">90.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21585 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">56.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Travel, business trips, training and meetings<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps5086 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">42.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8000 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">55.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Depreciation/amortisation</span><span class=\"f charStyle-85922b7e ps21590\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21586 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">44.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21563 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">41.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Agents and other variable sales costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21534 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">5.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21535 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">5.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5271 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Utilities, fuel and insurance<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21588 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">7.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21589 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6904 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Board fees and indemnities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21591 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21592 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4642 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Charges for use of third-party assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21593 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">4.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21594 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">5.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4652 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21595 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21596 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">49.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4660 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">total selling, general and administrative expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21597 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">780.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21598 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">886.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21685 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.37pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps21604\" style=\"width:488.7pt\">For an analysis of personnel costs and depreciation and amortisation components by nature, please see also the breakdown of personnel costs in notes 3</span><span class=\"f charStyle-40131897 ps405\" style=\"width:1.94pt\"> </span></div><div class=\"ps21686 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:193.28pt\">vii-\u2018Personnel Costs\u2019 and 3 viii-\u2018Depreciation and Amortisation\u2019.</span></div><div class=\"ps13100 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:104.27pt\">At 31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21687\" style=\"width:330.69pt\">, the total selling, general and administrative expenses amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21688\" style=\"width:25.01pt\">780.6</span><span class=\"f charStyle-58d8bcbe ps21689\" style=\"width:36.22pt\"> million,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps13101 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:109.1pt\">showing a decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21690\" style=\"width:25.01pt\">106.0<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21691\" style=\"width:193.7pt\"> million compared to the figures reported in </span><span class=\"f charStyle-58d8bcbe ps21692\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps15376\" style=\"width:45.17pt\">. This was</span><span class=\"f charStyle-58d8bcbe ps21693\" style=\"width:100.92pt\"> mainly due to the cost</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps13102 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">containment measures launched in late 2024, which contributed to a progressive slowdown in growth across the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps13103 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">quarters of 2025. The program is confirmed on track to achieve a 200 basis point improvement in the selling,</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps13104 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">general and administrative expenses-to-sales ratio between 2025 and 2027, including a 70 basis point benefit in</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps13105 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:25.01pt\">2025.</span><span class=\"f charStyle-58d8bcbe ps7137\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:287.6pt\">Disclosure Other income (expenses) from business disposal</span></div><div class=\"ps8193 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291.75pt\"></td><td style=\"padding:0;width:102pt\"></td><td style=\"padding:0;width:102pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11762 ss858\"><div><div class=\"ps476 ss857\"><span class=\"f charStyle-183bdf94 ps21694\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11764 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11768 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21695 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21633 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1690\"><div><div class=\"ps2415 ss1689\"><span class=\"f charStyle-183bdf94 ps132\">Net result from business disposal<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21696 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">55.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21636 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-ba8ac8da ps132\">Other income and expenses from business disposal<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21698 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-ba8ac8da ps21640\">55.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21638 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-ba8ac8da ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21700 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Other operating income for the period amounted to \u20ac55.3 million are related to the non-recurring gain associated</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21701 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">with the sale of the Cinzano and Frattina business and the bottling facility in Australia (refer to 'Significant Events</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21702 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:104.13pt\">of the Year' paragraph).</span></div><div class=\"ps21705 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:170.21pt\">The other expenses incurred during </span><span class=\"f charStyle-58d8bcbe ps21704\" style=\"width:164.12pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps15830\" style=\"width:161.87pt\"> included components that may be</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21706 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">considered non-representative of the current operating results and are therefore highlighted separately. They</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21707 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">were represented as adjusting transactions for the purposes of alternative performance indicators considered in</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21712 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:246.62pt\">the Management Board Report. Throughout the year </span><span class=\"f charStyle-58d8bcbe ps21708\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps21709\" style=\"width:169.58pt\">, they comprised a net expense of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21710\" style=\"width:25.01pt\">124.6</span><span class=\"f charStyle-58d8bcbe ps21711\" style=\"width:32.71pt\"> million</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21718 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:75.11pt\">compared with \u20ac</span><span class=\"f charStyle-58d8bcbe ps21713\" style=\"width:25.01pt\">212.6</span><span class=\"f charStyle-58d8bcbe ps21714\" style=\"width:87.98pt\"> million reported in </span><span class=\"f charStyle-58d8bcbe ps2359\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21715\" style=\"width:102pt\">. The main impacts in </span><span class=\"f charStyle-58d8bcbe ps21716\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps21717\" style=\"width:161.65pt\"> related to non-recurring costs were</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21719 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">linked to Jamaica hurricane emergency (\u20ac1.6 million), finance transformation (\u20ac5.5 million) and fixed asset</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps21722 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:102.35pt\">impairment losses of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21720\" style=\"width:19.45pt\">90.0</span><span class=\"f charStyle-58d8bcbe ps21721\" style=\"width:374.4pt\"> million (\u20ac67.4 million related to brands, \u20ac22.6 million related to production facilities</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21723 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">under utilization). The non-recurring costs for the year also reflected the impact of certain settlement payments</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21724 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">to the Chief Financial and Operating Officer Paolo Marchesini, including the Last Mile Incentive, following the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21725 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">consensual termination of his Chief Financial and Operating Officer responsibilities and in accordance with the</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps21726 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">remuneration policy and existing agreements. These payments totalled \u20ac33.8 million, of which \u20ac31.1 million</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps21727 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">accrued in 2025. The related liability was largely settled in the fourth quarter of 2025. These costs were partially</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps21730 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:48.51pt\">offset by \u20ac</span><span class=\"f charStyle-58d8bcbe ps21728\" style=\"width:19.45pt\">55.3</span><span class=\"f charStyle-58d8bcbe ps21729\" style=\"width:428.12pt\"> million of disposal-related gain primarily associated with the sale of the Cinzano and Frattina</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21732 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:195.51pt\">business and the bottling facility in Australia.</span><span class=\"f charStyle-58d8bcbe ps21731\" style=\"width:2.77pt\"> </span></div><div class=\"ps21753 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291.75pt\"></td><td style=\"padding:0;width:102pt\"></td><td style=\"padding:0;width:102pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11762 ss858\"><div><div class=\"ps476 ss857\"><span class=\"f charStyle-183bdf94 ps7581\">for the years ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1691\"><div><div class=\"ps2776 ss1689\"><span class=\"f charStyle-40131897 ps132\">Reconciliation between recurring and total Selling, General and Administrative Expenses </span></div><div class=\"ps2777 ss1689\"><span class=\"f charStyle-40131897 ps132\">and Other Income and Expenses from business disposal</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11764 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11768 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11775 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11778 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps490 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-183bdf94 ps132\">total selling, general and administrative expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11785 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">780.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11787 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">886.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps498 ss1690\"><div><div class=\"ps2415 ss1689\"><span class=\"f charStyle-40131897 ps132\">net result from business disposal</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21735 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21734\">(55.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21736 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps505 ss1691\"><div><div class=\"ps2776 ss1689\"><span class=\"f charStyle-4b81288d ps132\">Total selling, general and administrative expenses and other income (expenses) from </span></div><div class=\"ps2777 ss1689\"><span class=\"f charStyle-4b81288d ps132\">business disposal</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21737 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">725.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21738 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">886.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6525 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-183bdf94 ps132\">restructuring and reorganisation costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21739 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21740 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">102.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8003 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-183bdf94 ps132\">goodwill, brand, tangible fixed assets impairment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21741 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">90.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21742 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">56.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps18749 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-40131897 ps132\">settlement payments to Chief Financial and Operating Officer</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21743 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">31.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21744 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8719 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-40131897 ps132\">net result from business disposal</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21745 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21734\">(55.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21746 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5285 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-40131897 ps132\">net expenses from acquisition/disposal of business and route to market changes</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21747 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21748 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">38.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps12742 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-183bdf94 ps132\">other adjustments of operating income (expenses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21749 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21647\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21750 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">15.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps10063 ss1691\"><div><div class=\"ps2776 ss1689\"><span class=\"f charStyle-4b81288d ps132\">Recurring selling, general and administrative expenses and other income (expenses) </span></div><div class=\"ps2777 ss1689\"><span class=\"f charStyle-4b81288d ps132\">from business disposal</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21751 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">656.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21752 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">674.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21754 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Personnel Costs<span id=\"i503ae20b544d4cd58a2525ac5df8e7d2\"></span></span></div><div class=\"ps8858 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps8859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">For detailed information on the accounting policy on post-employment plans and share-based payments, please</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8860 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:457.16pt\">refer to note 7 v-\u2018Share-based payments\u2019 and 8 iv-\u2018Defined benefit and contribution plans\u2019, respectively. </span><span class=\"f charStyle-58d8bcbe ps21755\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps4968 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5024 ss337\"><div><div class=\"ps485 ss284\"><span class=\"f charStyle-183bdf94 ps6070\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6072 ss1683\"><div><div class=\"ps979 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6073 ss1683\"><div><div class=\"ps2776 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2024<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss338\"><span class=\"f charStyle-183bdf94 ps21577\">reclassified<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21578 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21579 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Salaries and wages</span><span class=\"f charStyle-85922b7e ps21761\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21580 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">396.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21581 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">415.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Social security contributions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21582 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">91.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21583 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">87.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Cost of defined contribution plans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21584 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">15.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21585 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">15.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Cost of share-based payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps5086 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">23.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8000 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">27.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4628 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Other personnel costs</span><span class=\"f charStyle-85922b7e ps21762\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21586 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">36.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21563 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">103.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Total personnel costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21534 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">563.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21535 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">649.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss340\"><div><div class=\"ps6279 ss336\"><span class=\"f charStyle-d669f8f1 ps132\">of which:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21588 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21763\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21589 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21763\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6904 ss340\"><div><div class=\"ps6279 ss336\"><span class=\"f charStyle-d669f8f1 ps132\">Included in cost of sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21591 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps12886\">113.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21592 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps12886\">116.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4642 ss340\"><div><div class=\"ps6279 ss336\"><span class=\"f charStyle-d669f8f1 ps132\">Included in selling, general and administrative expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21593 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps12886\">443.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21594 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps12886\">526.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4652 ss340\"><div><div class=\"ps6279 ss336\"><span class=\"f charStyle-0788a2e8 ps132\">Included in advertising and promotional expenses</span><span class=\"f charStyle-9d0ae393 ps21764\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21595 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps4314\">6.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21596 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps4314\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4660 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Total personnel costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21597 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">563.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21598 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">649.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21766 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.3pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps21765\" style=\"width:488.82pt\">In 2024, pursuant to the Remuneration Policy, a last mile incentive scheme with retention purpose to be potentially awarded to the previous Chief Financial</span><span class=\"f charStyle-40131897 ps381\" style=\"width:1.94pt\"> </span></div><div class=\"ps21767 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:496.21pt\">and Operating Office had been approved by the Parent Company\u2019s corporate bodies. For more information, refer to the section \u2018Governance \u2018in the Campari</span><span class=\"f charStyle-40131897 ps94\" style=\"width:1.94pt\"> </span></div><div class=\"ps21768 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:184.66pt\">Group annual report for the year ended 31 December 2024.</span><span class=\"f charStyle-40131897 ps706\" style=\"width:1.94pt\"> </span></div><div class=\"ps21769 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(2)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.53pt\"> Of which \u20ac1.2 million of current service costs related to defined benefit plans (note 8-iv. 'Defined Benefit and Contribution Plans') and \u20ac3.7 million related to</span><span class=\"f charStyle-40131897 ps123\" style=\"width:1.94pt\"> </span></div><div class=\"ps21770 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:496.15pt\">training programs focused on personalised development and future leadership. Following the consensual termination of his Chief Financial and Operating</span><span class=\"f charStyle-40131897 ps116\" style=\"width:1.94pt\"> </span></div><div class=\"ps21771 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:496.08pt\">Officer responsibilities, and in accordance with the remuneration policy and existing agreements, Paolo Marchesini was entitled to certain settlement payments</span><span class=\"f charStyle-40131897 ps123\" style=\"width:1.94pt\"> </span></div><div class=\"ps6454 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:466.58pt\">included in this line. For more information, refer to the section \u2018Governance' in the Campari Group annual report for the year ended 31 December 2025.</span></div><div class=\"ps6455 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:218.09pt\">Includes personnel costs relating to the management of brand houses.</span></div><div class=\"ps6457 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:100.13pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21772\" style=\"width:149.83pt\">, personnel costs, amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21773\" style=\"width:25.01pt\">563.4<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21774\" style=\"width:169.69pt\"> million, representing a decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21775\" style=\"width:19.45pt\">86.3</span><span class=\"f charStyle-58d8bcbe ps21776\" style=\"width:32.07pt\"> million</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21779 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:390.07pt\">compared with the prior year. Notably, when expressed as a percentage of sales, these </span><span class=\"f charStyle-58d8bcbe ps21777\" style=\"width:77.75pt\">costs declined to </span><span class=\"f charStyle-58d8bcbe ps21778\" style=\"width:28.34pt\">18.5%</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps8838 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:25.18pt\">from </span><span class=\"f charStyle-58d8bcbe ps21635\" style=\"width:28.34pt\">21.2%</span><span class=\"f charStyle-58d8bcbe ps21780\" style=\"width:5.19pt\"> </span><span class=\"f charStyle-58d8bcbe ps21781\" style=\"width:12.97pt\">in </span><span class=\"f charStyle-58d8bcbe ps21782\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21783\" style=\"width:402.26pt\">. This reduction reflected primarily the positive impact of the cost-efficiency measures</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps8839 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:388.85pt\">implemented under the cost containment programme launched in the latter part of 2024.</span></div><div class=\"ps21784 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">viii.\u00a0  Depreciation and Amortisation<span id=\"i92368a538cb442a78753c4b6a3366bf9\"></span></span></div><div class=\"ps7692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps7693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">For detailed information on the accounting policy, please refer to notes 6 vii-\u2018Lease components in the statement</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">of financial position\u2019, 4 ii-\u2018Property, plant and equipment, right of use assets and biological assets\u2019, 4</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7695 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:338.44pt\">iii-\u2018Intangible assets\u2019 and 8 iii-\u2018Fair value information on assets and liabilities\u2019.<span class=\"f ps21\"> </span></span></div><div class=\"ps7697 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21825 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1034\"><div><div class=\"ps979 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21296 ss1034\"><div><div class=\"ps2776 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1000\"><span class=\"f charStyle-183bdf94 ps21787\">reclassified<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21788 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21789 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Property, plant and equipment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21790 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">91.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21791 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">75.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Right of use assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21793 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21794 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">2.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Intangible assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21795 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">3.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21796 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Depreciation and amortisation included in cost of sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21797 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">98.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21798 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">81.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4628 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Property, plant and equipment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21800 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21799\">11.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21801 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21799\">11.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Right of use assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21802 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">15.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21803 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">14.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Intangible assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7355 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">18.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21804 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">16.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1695\"><div><div class=\"ps2776 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Depreciation and amortisation included in selling, general and administrative <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">expenses</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21805 ss1034\"><div><div class=\"ps979 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">44.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21806 ss1034\"><div><div class=\"ps979 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">41.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12742 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-a29ad9d0 ps132\">'</span><span class=\"f charStyle-40131897 ps21807\">-Property, plant and equipment</span><span class=\"f charStyle-85922b7e ps21808\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21809 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21810 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps10063 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Right of use assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21811 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21812 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7033 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Intangible assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21813 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21814 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps3386 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Depreciation and amortisation included in advertising and promotional expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21815 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">4.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21816 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">4.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7042 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-40131897 ps132\">'-Property, plant and equipment</span><span class=\"f charStyle-85922b7e ps21808\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21817 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21548\">106.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21818 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">89.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps7047 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Right of use assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21819 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">19.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21820 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">18.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7053 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Intangible assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21821 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">22.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21822 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">19.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2532 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total depreciation and amortisation in the statement of profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21823 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21548\">148.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21824 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21548\">127.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21826 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:159.35pt\">This item included depreciation of biological assets.</span></div><div class=\"ps21829 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ix.\u00a0  Research and Innovation Costs<span id=\"icf66879a0a4d4e29abb02cee513d1918\"></span></span></div><div class=\"ps1529 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1530 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Costs incurred in research, in developing alternative products or processes, or in conducting technological</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1531 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">research and development are recognised in profit or loss in the period in which they are incurred under</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1532 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:171.13pt\">advertising and promotional expenses.</span></div><div class=\"ps1480 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps1481 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">The Group\u2019s research and development activities are related solely to ordinary production and commercial</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">activities, namely ordinary product quality control and packaging studies in various markets. The research and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:121.32pt\">innovation costs, totalling </span><span class=\"f charStyle-58d8bcbe ps11597\" style=\"width:5.56pt\">\u20ac</span><span class=\"f charStyle-58d8bcbe ps21830\" style=\"width:19.45pt\">26.6</span><span class=\"f charStyle-58d8bcbe ps21831\" style=\"width:22.28pt\"> milli</span><span class=\"f charStyle-58d8bcbe ps21832\" style=\"width:11.12pt\">on<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21833\" style=\"width:17.92pt\"> in </span><span class=\"f charStyle-58d8bcbe ps21834\" style=\"width:165.97pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21835\" style=\"width:84.73pt\"> (\u20ac25.4 million in </span><span class=\"f charStyle-58d8bcbe ps21836\" style=\"width:22.24pt\">2024<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21837\" style=\"width:25.62pt\">), are</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:327.68pt\">recognised in the statement of profit or loss for the year they are incurred. </span><span class=\"f charStyle-58d8bcbe ps21838\" style=\"width:11.08pt\">\u00a0 \u00a0 </span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Property, Plant and Equipment, Right of Use Assets and Biological Assets<span id=\"i7ab0f0c6725c4fc4a6e25c73fcb2cbc0\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Land, even if acquired in conjunction with a building, is not depreciated, nor are held-for-sale tangible assets,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">which are reported at the lower of their carrying amount and fair value less cost to sell. Barrels are depreciated<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">based on the useful life, which can vary depending on the maturing work in progress for the liquid. For lease-</span></div><div class=\"ps1275 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">hold-improvements, the period of depreciation is the shorter of the economic life of the asset and the contract</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">duration of the underlying lease agreement. For right of use assets, unless the Group is reasonably certain that</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">it will obtain ownership of the leased asset at the end of the lease term, they are amortised on a straight-line</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:401.55pt\">basis over their estimated useful life or the term of the agreement, whichever is the shorter.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps22414\" style=\"width:11.08pt\">\u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div><div class=\"ps1281 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">The Group depreciation rate ranges by asset category are as follows:</span></div><div class=\"ps22424 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1729 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:266.25pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps47 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">business-related properties and light construction:\u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22417 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22416\">\u00a0 1.5%-10%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8762 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">plant and machinery:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22419 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22418\"> 2.5%-12.5%</span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">furniture, office and electronic equipment:\u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps15097 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22420\">\u00a0 10%-20%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1089 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">vehicles:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22421 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps484\"> 20%-25%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps15164 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">miscellaneous equipment:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22423 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22422\">\u00a0  2%-30%</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">Depreciation ceases on the date on which the asset is classified as held for sale or on which the asset is<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22427 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:273.88pt\">derecognised for accounting purposes, whichever occurs first.</span></div><div class=\"ps22429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Depreciation rates are revised through an ongoing assessment of the residual useful life of each asset category.</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.59pt\"> </span></div><div class=\"ps22430 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">This assessment is conducted in accordance with the technical and physical condition of the assets, the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:467.74pt\">technological environment, external factors, and generally accepted market and industry valuation criteria.</span><div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps1483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Intangible assets amortisation and impairment</span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">Intangible assets with a finite life are amortised on a straight-line basis in relation to their useful life and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">reviewed for impairment whenever events or circumstances indicate that the carrying amount may not be</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">recoverable. The amortisation period of intangible assets with a finite life is reviewed at least at the end of every</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">financial year in order to ascertain any changes in their useful life, which, if identified, will be treated as changes</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.09pt\">in estimates.</span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Other intangible assets with indefinite and definite life contain distribution rights and key money, the latter tested</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.24pt\">for impairment leveraging on a specialised third-party expert opinion connected to real estate assets.</span><span class=\"f charStyle-2293a859 ps22567\" style=\"width:3.45pt\"> </span><span class=\"f charStyle-2293a859 ps22568\" style=\"width:39.43pt\">Software</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:109.97pt\">amortisation rate is 20%.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-447": {
   "value": "<div class=\"ps21574 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Cost of Sales<span id=\"i98819556ac344cc98267ef954c0baf69\"></span></span></div><div class=\"ps20998 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21603 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5024 ss337\"><div><div class=\"ps485 ss284\"><span class=\"f charStyle-183bdf94 ps6070\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6072 ss1683\"><div><div class=\"ps979 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6073 ss1683\"><div><div class=\"ps2776 ss338\"><span class=\"f charStyle-40131897 ps6071\">2024</span></div><div class=\"ps2777 ss338\"><span class=\"f charStyle-40131897 ps21577\">reclassified</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21578 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21579 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Materials and manufacturing costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21580 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21514\">1,040.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21581 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21514\">1,107.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Distribution costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21582 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">170.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21583 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">170.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Total cost of sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21584 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">1,211.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21585 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">1,277.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss340\"><div><div class=\"ps6279 ss336\"><span class=\"f charStyle-d669f8f1 ps132\">Breakdown by nature<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Raw materials and finished goods acquired from third parties<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21586 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">733.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21563 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">834.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Inventory write-downs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21534 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">38.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21535 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">19.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5271 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Personnel costs</span><span class=\"f charStyle-85922b7e ps21587\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21588 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21533\">113.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21589 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21533\">116.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6904 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Depreciation/amortisation</span><span class=\"f charStyle-85922b7e ps21590\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21591 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">98.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21592 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">81.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4642 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Utilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21593 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">28.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21594 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">30.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4652 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">External production and maintenance costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21595 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">47.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21596 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">41.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4660 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Variable transport costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21597 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">131.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21598 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">125.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11256 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Other costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21599 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">19.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21600 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">27.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10236 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Total cost of sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21601 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">1,211.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21602 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">1,277.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21605 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.37pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps21604\" style=\"width:488.7pt\">For an analysis of personnel costs and depreciation and amortisation components by nature, please see also the breakdown of personnel costs in notes 3</span><span class=\"f charStyle-40131897 ps405\" style=\"width:1.94pt\"> </span></div><div class=\"ps21607 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:193.28pt\">vii-\u2018Personnel Costs\u2019 and 3 viii-\u2018Depreciation and Amortisation\u2019.</span><span class=\"f charStyle-40131897 ps21606\" style=\"width:3.88pt\">\u00a0 </span></div><div class=\"ps21609 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">The overall decrease is primarily attributable to lower material (namely agave components) and manufacturing</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps21610 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">costs, supported by cost efficiencies. Distribution expenses remained stable. As a percentage of net sales, the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21619 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:305.52pt\">cost of sales decreased compared to the previous year, moving from </span><span class=\"f charStyle-58d8bcbe ps21611\" style=\"width:28.34pt\">41.6%<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21612\" style=\"width:13.32pt\"> in </span><span class=\"f charStyle-58d8bcbe ps21613\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21614\" style=\"width:13.87pt\"> to </span><span class=\"f charStyle-58d8bcbe ps21615\" style=\"width:28.34pt\">39.7%</span><span class=\"f charStyle-58d8bcbe ps21616\" style=\"width:13.32pt\"> in </span><span class=\"f charStyle-58d8bcbe ps21617\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps21618\" style=\"width:2.77pt\">.</span></div><div class=\"ps21620 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Advertising and Promotional Expenses<span id=\"i38e16ae4cc22486889874175c224fddc\"></span></span></div><div class=\"ps7892 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps21622 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Point of sale materials are charged to advertising and promotional expenses at the time when the items are</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17504 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:49.46pt\">purchased.</span></div><div class=\"ps17505 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Costs incurred in research, developing alternative products or processes, or conducting technological research</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21624 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:390.52pt\">and development are recognised in profit or loss in the period in which they are incurred.</span><span class=\"f charStyle-2293a859 ps21623\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps8193 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:292.5pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:102pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21628 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps21627\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21629 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11768 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21631 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21633 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-183bdf94 ps132\">Merchandising and promotional costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21634 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">213.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21636 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">201.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-183bdf94 ps132\">Advertising spaces<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21637 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">152.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21638 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">143.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-183bdf94 ps132\">Media production<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21639 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">23.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21641 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">22.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-183bdf94 ps132\">Sponsorships, testimonial, influencers and events<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21642 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21533\">112.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21643 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">106.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-183bdf94 ps132\">Research and innovation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21644 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">26.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21645 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">25.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-40131897 ps132\">Depreciation/amortisation</span><span class=\"f charStyle-85922b7e ps21590\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21646 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">4.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21648 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21647\">4.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-40131897 ps132\">Personnel costs</span><span class=\"f charStyle-85922b7e ps21587\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21649 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">6.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21650 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21647\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-183bdf94 ps132\">Other advertising and promotional expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21651 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">7.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21652 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21647\">3.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6300 ss1688\"><div><div class=\"ps485 ss1684\"><span class=\"f charStyle-ba8ac8da ps132\">Total advertising and promotional expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21653 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">547.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21654 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">513.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21655 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.37pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps21604\" style=\"width:488.7pt\">For an analysis of personnel costs and depreciation and amortisation components by nature, please see also the breakdown of personnel costs in notes 3</span><span class=\"f charStyle-40131897 ps405\" style=\"width:1.94pt\"> </span></div><div class=\"ps21656 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:193.28pt\">vii-\u2018Personnel Costs\u2019 and 3 viii-\u2018Depreciation and Amortisation\u2019.</span></div><div class=\"ps21661 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:240.48pt\">Advertising and promotional expenses accounted for </span><span class=\"f charStyle-58d8bcbe ps21657\" style=\"width:28.34pt\">17.9%</span><span class=\"f charStyle-58d8bcbe ps21658\" style=\"width:130.44pt\"> of net sales, amounting to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21659\" style=\"width:25.01pt\">547.1</span><span class=\"f charStyle-58d8bcbe ps21660\" style=\"width:46.88pt\"> million in </span><span class=\"f charStyle-58d8bcbe ps3776\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps4287\" style=\"width:2.77pt\">.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.59pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21668 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:178.34pt\">This represents an overall increase of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21662\" style=\"width:19.45pt\">33.8</span><span class=\"f charStyle-58d8bcbe ps21663\" style=\"width:94.44pt\"> million compared to <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21664\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21665\" style=\"width:94.99pt\">, when they stood at </span><span class=\"f charStyle-58d8bcbe ps21666\" style=\"width:28.34pt\">16.7%<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21667\" style=\"width:58.32pt\"> of net sales.</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.22pt\"> </span></div><div class=\"ps21669 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Advertising and promotion expenses were strategically allocated and selectively intensified towards the brands</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:449.23pt\">identified as priorities within the refreshed business strategy, especially during seasonal peak periods.</span><span class=\"f charStyle-58d8bcbe ps21670\" style=\"width:2.77pt\"> </span></div><div class=\"ps21671 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Public Grants<span id=\"i454b57a919964efa9bfab2d35d29347e\"></span></span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:12.65pt\">In </span><span class=\"f charStyle-58d8bcbe ps21672\" style=\"width:162.22pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21673\" style=\"width:150.38pt\">, operating grants for an overall </span><span class=\"f charStyle-58d8bcbe ps21674\" style=\"width:52.1pt\">\u20ac0.8 million</span><span class=\"f charStyle-58d8bcbe ps21675\" style=\"width:118.83pt\"> (\u20ac1.3 million in the same</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:42.94pt\">period of </span><span class=\"f charStyle-58d8bcbe ps21676\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21677\" style=\"width:431.05pt\">) were recorded in the statement of profit or loss. These public contributions were mainly for the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:279.42pt\">support of industrial investments and sugar cane plantations in </span><span class=\"f charStyle-58d8bcbe ps21678\" style=\"width:183.69pt\">Martinique and employees training in Italy<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21679\" style=\"width:2.77pt\">.</span></div><div class=\"ps21680 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vi.\u00a0  Selling, General and Administrative Expenses and Other Income and Expenses from <span id=\"i5daa9e338bd74056960f49129f7d2fe2\"></span></span></div><div class=\"ps21681 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps56\">business disposal</span></div><div class=\"ps21683 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:271.48pt\">Disclosure Selling, General and Administrative Expenses</span></div><div class=\"ps21684 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5024 ss337\"><div><div class=\"ps476 ss284\"><span class=\"f charStyle-183bdf94 ps6070\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6072 ss1683\"><div><div class=\"ps979 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6073 ss1683\"><div><div class=\"ps2776 ss338\"><span class=\"f charStyle-40131897 ps6071\">2024</span></div><div class=\"ps2777 ss338\"><span class=\"f charStyle-40131897 ps21577\">reclassified</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21578 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21579 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Personnel costs</span><span class=\"f charStyle-85922b7e ps21587\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21580 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">443.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21581 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">526.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Services, maintenance and insurance<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21582 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">122.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21583 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">131.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Impairment of tangible assets, brands and business disposed<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21584 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">90.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21585 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">56.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Travel, business trips, training and meetings<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps5086 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">42.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8000 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">55.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Depreciation/amortisation</span><span class=\"f charStyle-85922b7e ps21590\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21586 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">44.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21563 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">41.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Agents and other variable sales costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21534 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">5.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21535 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">5.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5271 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Utilities, fuel and insurance<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21588 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">7.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21589 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6904 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Board fees and indemnities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21591 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21592 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4642 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Charges for use of third-party assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21593 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">4.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21594 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">5.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4652 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21595 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21596 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">49.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4660 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">total selling, general and administrative expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21597 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">780.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21598 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">886.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21685 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.37pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps21604\" style=\"width:488.7pt\">For an analysis of personnel costs and depreciation and amortisation components by nature, please see also the breakdown of personnel costs in notes 3</span><span class=\"f charStyle-40131897 ps405\" style=\"width:1.94pt\"> </span></div><div class=\"ps21686 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:193.28pt\">vii-\u2018Personnel Costs\u2019 and 3 viii-\u2018Depreciation and Amortisation\u2019.</span></div><div class=\"ps13100 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:104.27pt\">At 31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21687\" style=\"width:330.69pt\">, the total selling, general and administrative expenses amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21688\" style=\"width:25.01pt\">780.6</span><span class=\"f charStyle-58d8bcbe ps21689\" style=\"width:36.22pt\"> million,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps13101 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:109.1pt\">showing a decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21690\" style=\"width:25.01pt\">106.0<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21691\" style=\"width:193.7pt\"> million compared to the figures reported in </span><span class=\"f charStyle-58d8bcbe ps21692\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps15376\" style=\"width:45.17pt\">. This was</span><span class=\"f charStyle-58d8bcbe ps21693\" style=\"width:100.92pt\"> mainly due to the cost</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps13102 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">containment measures launched in late 2024, which contributed to a progressive slowdown in growth across the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps13103 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">quarters of 2025. The program is confirmed on track to achieve a 200 basis point improvement in the selling,</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps13104 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">general and administrative expenses-to-sales ratio between 2025 and 2027, including a 70 basis point benefit in</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps13105 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:25.01pt\">2025.</span><span class=\"f charStyle-58d8bcbe ps7137\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:287.6pt\">Disclosure Other income (expenses) from business disposal</span></div><div class=\"ps8193 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291.75pt\"></td><td style=\"padding:0;width:102pt\"></td><td style=\"padding:0;width:102pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11762 ss858\"><div><div class=\"ps476 ss857\"><span class=\"f charStyle-183bdf94 ps21694\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11764 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11768 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21695 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21633 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1690\"><div><div class=\"ps2415 ss1689\"><span class=\"f charStyle-183bdf94 ps132\">Net result from business disposal<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21696 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">55.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21636 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-ba8ac8da ps132\">Other income and expenses from business disposal<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21698 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-ba8ac8da ps21640\">55.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21638 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-ba8ac8da ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21700 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Other operating income for the period amounted to \u20ac55.3 million are related to the non-recurring gain associated</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21701 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">with the sale of the Cinzano and Frattina business and the bottling facility in Australia (refer to 'Significant Events</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21702 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:104.13pt\">of the Year' paragraph).</span></div><div class=\"ps21705 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:170.21pt\">The other expenses incurred during </span><span class=\"f charStyle-58d8bcbe ps21704\" style=\"width:164.12pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps15830\" style=\"width:161.87pt\"> included components that may be</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21706 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">considered non-representative of the current operating results and are therefore highlighted separately. They</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21707 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">were represented as adjusting transactions for the purposes of alternative performance indicators considered in</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21712 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:246.62pt\">the Management Board Report. Throughout the year </span><span class=\"f charStyle-58d8bcbe ps21708\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps21709\" style=\"width:169.58pt\">, they comprised a net expense of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21710\" style=\"width:25.01pt\">124.6</span><span class=\"f charStyle-58d8bcbe ps21711\" style=\"width:32.71pt\"> million</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21718 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:75.11pt\">compared with \u20ac</span><span class=\"f charStyle-58d8bcbe ps21713\" style=\"width:25.01pt\">212.6</span><span class=\"f charStyle-58d8bcbe ps21714\" style=\"width:87.98pt\"> million reported in </span><span class=\"f charStyle-58d8bcbe ps2359\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21715\" style=\"width:102pt\">. The main impacts in </span><span class=\"f charStyle-58d8bcbe ps21716\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps21717\" style=\"width:161.65pt\"> related to non-recurring costs were</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21719 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">linked to Jamaica hurricane emergency (\u20ac1.6 million), finance transformation (\u20ac5.5 million) and fixed asset</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps21722 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:102.35pt\">impairment losses of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21720\" style=\"width:19.45pt\">90.0</span><span class=\"f charStyle-58d8bcbe ps21721\" style=\"width:374.4pt\"> million (\u20ac67.4 million related to brands, \u20ac22.6 million related to production facilities</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21723 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">under utilization). The non-recurring costs for the year also reflected the impact of certain settlement payments</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21724 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">to the Chief Financial and Operating Officer Paolo Marchesini, including the Last Mile Incentive, following the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21725 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">consensual termination of his Chief Financial and Operating Officer responsibilities and in accordance with the</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps21726 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">remuneration policy and existing agreements. These payments totalled \u20ac33.8 million, of which \u20ac31.1 million</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps21727 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">accrued in 2025. The related liability was largely settled in the fourth quarter of 2025. These costs were partially</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps21730 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:48.51pt\">offset by \u20ac</span><span class=\"f charStyle-58d8bcbe ps21728\" style=\"width:19.45pt\">55.3</span><span class=\"f charStyle-58d8bcbe ps21729\" style=\"width:428.12pt\"> million of disposal-related gain primarily associated with the sale of the Cinzano and Frattina</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21732 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:195.51pt\">business and the bottling facility in Australia.</span><span class=\"f charStyle-58d8bcbe ps21731\" style=\"width:2.77pt\"> </span></div><div class=\"ps21753 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291.75pt\"></td><td style=\"padding:0;width:102pt\"></td><td style=\"padding:0;width:102pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11762 ss858\"><div><div class=\"ps476 ss857\"><span class=\"f charStyle-183bdf94 ps7581\">for the years ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1691\"><div><div class=\"ps2776 ss1689\"><span class=\"f charStyle-40131897 ps132\">Reconciliation between recurring and total Selling, General and Administrative Expenses </span></div><div class=\"ps2777 ss1689\"><span class=\"f charStyle-40131897 ps132\">and Other Income and Expenses from business disposal</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11764 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11768 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11775 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11778 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps490 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-183bdf94 ps132\">total selling, general and administrative expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11785 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">780.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11787 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">886.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps498 ss1690\"><div><div class=\"ps2415 ss1689\"><span class=\"f charStyle-40131897 ps132\">net result from business disposal</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21735 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21734\">(55.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21736 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps505 ss1691\"><div><div class=\"ps2776 ss1689\"><span class=\"f charStyle-4b81288d ps132\">Total selling, general and administrative expenses and other income (expenses) from </span></div><div class=\"ps2777 ss1689\"><span class=\"f charStyle-4b81288d ps132\">business disposal</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21737 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">725.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21738 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">886.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6525 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-183bdf94 ps132\">restructuring and reorganisation costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21739 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21740 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">102.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8003 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-183bdf94 ps132\">goodwill, brand, tangible fixed assets impairment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21741 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">90.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21742 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">56.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps18749 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-40131897 ps132\">settlement payments to Chief Financial and Operating Officer</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21743 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">31.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21744 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8719 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-40131897 ps132\">net result from business disposal</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21745 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21734\">(55.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21746 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5285 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-40131897 ps132\">net expenses from acquisition/disposal of business and route to market changes</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21747 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21748 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">38.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps12742 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-183bdf94 ps132\">other adjustments of operating income (expenses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21749 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21647\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21750 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">15.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps10063 ss1691\"><div><div class=\"ps2776 ss1689\"><span class=\"f charStyle-4b81288d ps132\">Recurring selling, general and administrative expenses and other income (expenses) </span></div><div class=\"ps2777 ss1689\"><span class=\"f charStyle-4b81288d ps132\">from business disposal</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21751 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">656.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21752 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">674.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21754 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Personnel Costs<span id=\"i503ae20b544d4cd58a2525ac5df8e7d2\"></span></span></div><div class=\"ps8858 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps8859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">For detailed information on the accounting policy on post-employment plans and share-based payments, please</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8860 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:457.16pt\">refer to note 7 v-\u2018Share-based payments\u2019 and 8 iv-\u2018Defined benefit and contribution plans\u2019, respectively. </span><span class=\"f charStyle-58d8bcbe ps21755\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps4968 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5024 ss337\"><div><div class=\"ps485 ss284\"><span class=\"f charStyle-183bdf94 ps6070\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6072 ss1683\"><div><div class=\"ps979 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6073 ss1683\"><div><div class=\"ps2776 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2024<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss338\"><span class=\"f charStyle-183bdf94 ps21577\">reclassified<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21578 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21579 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Salaries and wages</span><span class=\"f charStyle-85922b7e ps21761\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21580 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">396.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21581 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">415.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Social security contributions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21582 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">91.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21583 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">87.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Cost of defined contribution plans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21584 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">15.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21585 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">15.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Cost of share-based payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps5086 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">23.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8000 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">27.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4628 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Other personnel costs</span><span class=\"f charStyle-85922b7e ps21762\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21586 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">36.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21563 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">103.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Total personnel costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21534 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">563.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21535 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">649.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss340\"><div><div class=\"ps6279 ss336\"><span class=\"f charStyle-d669f8f1 ps132\">of which:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21588 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21763\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21589 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21763\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6904 ss340\"><div><div class=\"ps6279 ss336\"><span class=\"f charStyle-d669f8f1 ps132\">Included in cost of sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21591 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps12886\">113.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21592 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps12886\">116.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4642 ss340\"><div><div class=\"ps6279 ss336\"><span class=\"f charStyle-d669f8f1 ps132\">Included in selling, general and administrative expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21593 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps12886\">443.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21594 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps12886\">526.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4652 ss340\"><div><div class=\"ps6279 ss336\"><span class=\"f charStyle-0788a2e8 ps132\">Included in advertising and promotional expenses</span><span class=\"f charStyle-9d0ae393 ps21764\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21595 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps4314\">6.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21596 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps4314\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4660 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Total personnel costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21597 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">563.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21598 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">649.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21766 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.3pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps21765\" style=\"width:488.82pt\">In 2024, pursuant to the Remuneration Policy, a last mile incentive scheme with retention purpose to be potentially awarded to the previous Chief Financial</span><span class=\"f charStyle-40131897 ps381\" style=\"width:1.94pt\"> </span></div><div class=\"ps21767 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:496.21pt\">and Operating Office had been approved by the Parent Company\u2019s corporate bodies. For more information, refer to the section \u2018Governance \u2018in the Campari</span><span class=\"f charStyle-40131897 ps94\" style=\"width:1.94pt\"> </span></div><div class=\"ps21768 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:184.66pt\">Group annual report for the year ended 31 December 2024.</span><span class=\"f charStyle-40131897 ps706\" style=\"width:1.94pt\"> </span></div><div class=\"ps21769 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(2)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.53pt\"> Of which \u20ac1.2 million of current service costs related to defined benefit plans (note 8-iv. 'Defined Benefit and Contribution Plans') and \u20ac3.7 million related to</span><span class=\"f charStyle-40131897 ps123\" style=\"width:1.94pt\"> </span></div><div class=\"ps21770 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:496.15pt\">training programs focused on personalised development and future leadership. Following the consensual termination of his Chief Financial and Operating</span><span class=\"f charStyle-40131897 ps116\" style=\"width:1.94pt\"> </span></div><div class=\"ps21771 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:496.08pt\">Officer responsibilities, and in accordance with the remuneration policy and existing agreements, Paolo Marchesini was entitled to certain settlement payments</span><span class=\"f charStyle-40131897 ps123\" style=\"width:1.94pt\"> </span></div><div class=\"ps6454 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:466.58pt\">included in this line. For more information, refer to the section \u2018Governance' in the Campari Group annual report for the year ended 31 December 2025.</span></div><div class=\"ps6455 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:218.09pt\">Includes personnel costs relating to the management of brand houses.</span></div><div class=\"ps6457 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:100.13pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21772\" style=\"width:149.83pt\">, personnel costs, amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21773\" style=\"width:25.01pt\">563.4<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21774\" style=\"width:169.69pt\"> million, representing a decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21775\" style=\"width:19.45pt\">86.3</span><span class=\"f charStyle-58d8bcbe ps21776\" style=\"width:32.07pt\"> million</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21779 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:390.07pt\">compared with the prior year. Notably, when expressed as a percentage of sales, these </span><span class=\"f charStyle-58d8bcbe ps21777\" style=\"width:77.75pt\">costs declined to </span><span class=\"f charStyle-58d8bcbe ps21778\" style=\"width:28.34pt\">18.5%</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps8838 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:25.18pt\">from </span><span class=\"f charStyle-58d8bcbe ps21635\" style=\"width:28.34pt\">21.2%</span><span class=\"f charStyle-58d8bcbe ps21780\" style=\"width:5.19pt\"> </span><span class=\"f charStyle-58d8bcbe ps21781\" style=\"width:12.97pt\">in </span><span class=\"f charStyle-58d8bcbe ps21782\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21783\" style=\"width:402.26pt\">. This reduction reflected primarily the positive impact of the cost-efficiency measures</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps8839 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:388.85pt\">implemented under the cost containment programme launched in the latter part of 2024.</span></div><div class=\"ps21784 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">viii.\u00a0  Depreciation and Amortisation<span id=\"i92368a538cb442a78753c4b6a3366bf9\"></span></span></div><div class=\"ps7692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps7693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">For detailed information on the accounting policy, please refer to notes 6 vii-\u2018Lease components in the statement</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">of financial position\u2019, 4 ii-\u2018Property, plant and equipment, right of use assets and biological assets\u2019, 4</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7695 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:338.44pt\">iii-\u2018Intangible assets\u2019 and 8 iii-\u2018Fair value information on assets and liabilities\u2019.<span class=\"f ps21\"> </span></span></div><div class=\"ps7697 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21825 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1034\"><div><div class=\"ps979 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21296 ss1034\"><div><div class=\"ps2776 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1000\"><span class=\"f charStyle-183bdf94 ps21787\">reclassified<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21788 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21789 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Property, plant and equipment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21790 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">91.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21791 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">75.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Right of use assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21793 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21794 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">2.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Intangible assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21795 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">3.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21796 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Depreciation and amortisation included in cost of sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21797 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">98.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21798 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">81.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4628 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Property, plant and equipment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21800 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21799\">11.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21801 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21799\">11.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Right of use assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21802 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">15.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21803 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">14.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Intangible assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7355 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">18.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21804 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">16.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1695\"><div><div class=\"ps2776 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Depreciation and amortisation included in selling, general and administrative <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">expenses</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21805 ss1034\"><div><div class=\"ps979 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">44.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21806 ss1034\"><div><div class=\"ps979 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">41.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12742 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-a29ad9d0 ps132\">'</span><span class=\"f charStyle-40131897 ps21807\">-Property, plant and equipment</span><span class=\"f charStyle-85922b7e ps21808\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21809 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21810 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps10063 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Right of use assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21811 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21812 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7033 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Intangible assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21813 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21814 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps3386 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Depreciation and amortisation included in advertising and promotional expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21815 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">4.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21816 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">4.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7042 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-40131897 ps132\">'-Property, plant and equipment</span><span class=\"f charStyle-85922b7e ps21808\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21817 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21548\">106.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21818 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">89.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps7047 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Right of use assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21819 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">19.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21820 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">18.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7053 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Intangible assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21821 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">22.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21822 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">19.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2532 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total depreciation and amortisation in the statement of profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21823 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21548\">148.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21824 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21548\">127.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21826 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:159.35pt\">This item included depreciation of biological assets.</span></div><div class=\"ps21829 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ix.\u00a0  Research and Innovation Costs<span id=\"icf66879a0a4d4e29abb02cee513d1918\"></span></span></div><div class=\"ps1529 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1530 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Costs incurred in research, in developing alternative products or processes, or in conducting technological</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1531 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">research and development are recognised in profit or loss in the period in which they are incurred under</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1532 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:171.13pt\">advertising and promotional expenses.</span></div><div class=\"ps1480 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps1481 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">The Group\u2019s research and development activities are related solely to ordinary production and commercial</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">activities, namely ordinary product quality control and packaging studies in various markets. The research and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:121.32pt\">innovation costs, totalling </span><span class=\"f charStyle-58d8bcbe ps11597\" style=\"width:5.56pt\">\u20ac</span><span class=\"f charStyle-58d8bcbe ps21830\" style=\"width:19.45pt\">26.6</span><span class=\"f charStyle-58d8bcbe ps21831\" style=\"width:22.28pt\"> milli</span><span class=\"f charStyle-58d8bcbe ps21832\" style=\"width:11.12pt\">on<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21833\" style=\"width:17.92pt\"> in </span><span class=\"f charStyle-58d8bcbe ps21834\" style=\"width:165.97pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21835\" style=\"width:84.73pt\"> (\u20ac25.4 million in </span><span class=\"f charStyle-58d8bcbe ps21836\" style=\"width:22.24pt\">2024<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21837\" style=\"width:25.62pt\">), are</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:327.68pt\">recognised in the statement of profit or loss for the year they are incurred. </span><span class=\"f charStyle-58d8bcbe ps21838\" style=\"width:11.08pt\">\u00a0 \u00a0 </span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Property, Plant and Equipment, Right of Use Assets and Biological Assets<span id=\"i7ab0f0c6725c4fc4a6e25c73fcb2cbc0\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Land, even if acquired in conjunction with a building, is not depreciated, nor are held-for-sale tangible assets,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">which are reported at the lower of their carrying amount and fair value less cost to sell. Barrels are depreciated<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">based on the useful life, which can vary depending on the maturing work in progress for the liquid. For lease-</span></div><div class=\"ps1275 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">hold-improvements, the period of depreciation is the shorter of the economic life of the asset and the contract</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">duration of the underlying lease agreement. For right of use assets, unless the Group is reasonably certain that</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">it will obtain ownership of the leased asset at the end of the lease term, they are amortised on a straight-line</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:401.55pt\">basis over their estimated useful life or the term of the agreement, whichever is the shorter.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps22414\" style=\"width:11.08pt\">\u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div><div class=\"ps1281 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">The Group depreciation rate ranges by asset category are as follows:</span></div><div class=\"ps22424 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1729 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:266.25pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps47 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">business-related properties and light construction:\u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22417 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22416\">\u00a0 1.5%-10%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8762 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">plant and machinery:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22419 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22418\"> 2.5%-12.5%</span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">furniture, office and electronic equipment:\u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps15097 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22420\">\u00a0 10%-20%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1089 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">vehicles:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22421 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps484\"> 20%-25%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps15164 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">miscellaneous equipment:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22423 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22422\">\u00a0  2%-30%</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">Depreciation ceases on the date on which the asset is classified as held for sale or on which the asset is<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22427 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:273.88pt\">derecognised for accounting purposes, whichever occurs first.</span></div><div class=\"ps22429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Depreciation rates are revised through an ongoing assessment of the residual useful life of each asset category.</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.59pt\"> </span></div><div class=\"ps22430 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">This assessment is conducted in accordance with the technical and physical condition of the assets, the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:467.74pt\">technological environment, external factors, and generally accepted market and industry valuation criteria.</span><div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps1483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Intangible assets amortisation and impairment</span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">Intangible assets with a finite life are amortised on a straight-line basis in relation to their useful life and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">reviewed for impairment whenever events or circumstances indicate that the carrying amount may not be</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">recoverable. The amortisation period of intangible assets with a finite life is reviewed at least at the end of every</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">financial year in order to ascertain any changes in their useful life, which, if identified, will be treated as changes</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.09pt\">in estimates.</span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Other intangible assets with indefinite and definite life contain distribution rights and key money, the latter tested</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.24pt\">for impairment leveraging on a specialised third-party expert opinion connected to real estate assets.</span><span class=\"f charStyle-2293a859 ps22567\" style=\"width:3.45pt\"> </span><span class=\"f charStyle-2293a859 ps22568\" style=\"width:39.43pt\">Software</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:109.97pt\">amortisation rate is 20%.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-446": {
   "value": "<div class=\"ps21574 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Cost of Sales<span id=\"i98819556ac344cc98267ef954c0baf69\"></span></span></div><div class=\"ps20998 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21603 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5024 ss337\"><div><div class=\"ps485 ss284\"><span class=\"f charStyle-183bdf94 ps6070\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6072 ss1683\"><div><div class=\"ps979 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6073 ss1683\"><div><div class=\"ps2776 ss338\"><span class=\"f charStyle-40131897 ps6071\">2024</span></div><div class=\"ps2777 ss338\"><span class=\"f charStyle-40131897 ps21577\">reclassified</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21578 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21579 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Materials and manufacturing costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21580 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21514\">1,040.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21581 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21514\">1,107.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Distribution costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21582 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">170.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21583 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">170.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Total cost of sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21584 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">1,211.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21585 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">1,277.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss340\"><div><div class=\"ps6279 ss336\"><span class=\"f charStyle-d669f8f1 ps132\">Breakdown by nature<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Raw materials and finished goods acquired from third parties<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21586 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">733.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21563 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">834.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Inventory write-downs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21534 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">38.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21535 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">19.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5271 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Personnel costs</span><span class=\"f charStyle-85922b7e ps21587\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21588 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21533\">113.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21589 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21533\">116.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6904 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Depreciation/amortisation</span><span class=\"f charStyle-85922b7e ps21590\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21591 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">98.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21592 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">81.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4642 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Utilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21593 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">28.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21594 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">30.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4652 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">External production and maintenance costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21595 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">47.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21596 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">41.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4660 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Variable transport costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21597 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">131.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21598 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">125.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11256 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Other costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21599 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">19.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21600 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">27.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10236 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Total cost of sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21601 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">1,211.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21602 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps21514\">1,277.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21605 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.37pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps21604\" style=\"width:488.7pt\">For an analysis of personnel costs and depreciation and amortisation components by nature, please see also the breakdown of personnel costs in notes 3</span><span class=\"f charStyle-40131897 ps405\" style=\"width:1.94pt\"> </span></div><div class=\"ps21607 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:193.28pt\">vii-\u2018Personnel Costs\u2019 and 3 viii-\u2018Depreciation and Amortisation\u2019.</span><span class=\"f charStyle-40131897 ps21606\" style=\"width:3.88pt\">\u00a0 </span></div><div class=\"ps21609 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">The overall decrease is primarily attributable to lower material (namely agave components) and manufacturing</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps21610 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">costs, supported by cost efficiencies. Distribution expenses remained stable. As a percentage of net sales, the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21619 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:305.52pt\">cost of sales decreased compared to the previous year, moving from </span><span class=\"f charStyle-58d8bcbe ps21611\" style=\"width:28.34pt\">41.6%<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21612\" style=\"width:13.32pt\"> in </span><span class=\"f charStyle-58d8bcbe ps21613\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21614\" style=\"width:13.87pt\"> to </span><span class=\"f charStyle-58d8bcbe ps21615\" style=\"width:28.34pt\">39.7%</span><span class=\"f charStyle-58d8bcbe ps21616\" style=\"width:13.32pt\"> in </span><span class=\"f charStyle-58d8bcbe ps21617\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps21618\" style=\"width:2.77pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-449": {
   "value": "<div class=\"ps21620 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Advertising and Promotional Expenses<span id=\"i38e16ae4cc22486889874175c224fddc\"></span></span></div><div class=\"ps7892 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps21622 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Point of sale materials are charged to advertising and promotional expenses at the time when the items are</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17504 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:49.46pt\">purchased.</span></div><div class=\"ps17505 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Costs incurred in research, developing alternative products or processes, or conducting technological research</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21624 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:390.52pt\">and development are recognised in profit or loss in the period in which they are incurred.</span><span class=\"f charStyle-2293a859 ps21623\" style=\"width:2.77pt\"> </span></div><div class=\"ps21754 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Personnel Costs<span id=\"i503ae20b544d4cd58a2525ac5df8e7d2\"></span></span></div><div class=\"ps8858 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps8859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">For detailed information on the accounting policy on post-employment plans and share-based payments, please</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8860 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:457.16pt\">refer to note 7 v-\u2018Share-based payments\u2019 and 8 iv-\u2018Defined benefit and contribution plans\u2019, respectively. </span><span class=\"f charStyle-58d8bcbe ps21755\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps21784 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">viii.\u00a0  Depreciation and Amortisation<span id=\"i92368a538cb442a78753c4b6a3366bf9\"></span></span></div><div class=\"ps7692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps7693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">For detailed information on the accounting policy, please refer to notes 6 vii-\u2018Lease components in the statement</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">of financial position\u2019, 4 ii-\u2018Property, plant and equipment, right of use assets and biological assets\u2019, 4</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7695 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:338.44pt\">iii-\u2018Intangible assets\u2019 and 8 iii-\u2018Fair value information on assets and liabilities\u2019.<span class=\"f ps21\"> </span></span></div><div class=\"ps21829 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ix.\u00a0  Research and Innovation Costs<span id=\"icf66879a0a4d4e29abb02cee513d1918\"></span></span></div><div class=\"ps1529 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1530 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Costs incurred in research, in developing alternative products or processes, or in conducting technological</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1531 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">research and development are recognised in profit or loss in the period in which they are incurred under</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1532 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:171.13pt\">advertising and promotional expenses.</span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Property, Plant and Equipment, Right of Use Assets and Biological Assets<span id=\"i7ab0f0c6725c4fc4a6e25c73fcb2cbc0\"></span></span></div><div class=\"ps1268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Land, even if acquired in conjunction with a building, is not depreciated, nor are held-for-sale tangible assets,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">which are reported at the lower of their carrying amount and fair value less cost to sell. Barrels are depreciated<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">based on the useful life, which can vary depending on the maturing work in progress for the liquid. For lease-</span></div><div class=\"ps1275 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">hold-improvements, the period of depreciation is the shorter of the economic life of the asset and the contract</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">duration of the underlying lease agreement. For right of use assets, unless the Group is reasonably certain that</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">it will obtain ownership of the leased asset at the end of the lease term, they are amortised on a straight-line</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:401.55pt\">basis over their estimated useful life or the term of the agreement, whichever is the shorter.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps22414\" style=\"width:11.08pt\">\u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div><div class=\"ps1281 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">The Group depreciation rate ranges by asset category are as follows:</span></div><div class=\"ps22424 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1729 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:266.25pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps47 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">business-related properties and light construction:\u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22417 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22416\">\u00a0 1.5%-10%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8762 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">plant and machinery:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22419 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22418\"> 2.5%-12.5%</span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">furniture, office and electronic equipment:\u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps15097 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22420\">\u00a0 10%-20%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1089 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">vehicles:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22421 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps484\"> 20%-25%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps15164 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">miscellaneous equipment:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22423 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22422\">\u00a0  2%-30%</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">Depreciation ceases on the date on which the asset is classified as held for sale or on which the asset is<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22427 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:273.88pt\">derecognised for accounting purposes, whichever occurs first.</span></div><div class=\"ps22429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Depreciation rates are revised through an ongoing assessment of the residual useful life of each asset category.</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.59pt\"> </span></div><div class=\"ps22430 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">This assessment is conducted in accordance with the technical and physical condition of the assets, the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22432 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:467.74pt\">technological environment, external factors, and generally accepted market and industry valuation criteria.</span><span class=\"f charStyle-2293a859 ps22431\" style=\"width:2.77pt\"> </span></div><div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Intangible assets amortisation and impairment</span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">Intangible assets with a finite life are amortised on a straight-line basis in relation to their useful life and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">reviewed for impairment whenever events or circumstances indicate that the carrying amount may not be</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">recoverable. The amortisation period of intangible assets with a finite life is reviewed at least at the end of every</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">financial year in order to ascertain any changes in their useful life, which, if identified, will be treated as changes</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.09pt\">in estimates.</span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Other intangible assets with indefinite and definite life contain distribution rights and key money, the latter tested</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.24pt\">for impairment leveraging on a specialised third-party expert opinion connected to real estate assets.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-450": {
   "value": "<div class=\"ps21671 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Public Grants<span id=\"i454b57a919964efa9bfab2d35d29347e\"></span></span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:12.65pt\">In </span><span class=\"f charStyle-58d8bcbe ps21672\" style=\"width:162.22pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21673\" style=\"width:150.38pt\">, operating grants for an overall </span><span class=\"f charStyle-58d8bcbe ps21674\" style=\"width:52.1pt\">\u20ac0.8 million</span><span class=\"f charStyle-58d8bcbe ps21675\" style=\"width:118.83pt\"> (\u20ac1.3 million in the same</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:42.94pt\">period of </span><span class=\"f charStyle-58d8bcbe ps21676\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21677\" style=\"width:431.05pt\">) were recorded in the statement of profit or loss. These public contributions were mainly for the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:279.42pt\">support of industrial investments and sugar cane plantations in </span><span class=\"f charStyle-58d8bcbe ps21678\" style=\"width:183.69pt\">Martinique and employees training in Italy<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21679\" style=\"width:2.77pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-451": {
   "value": "<div class=\"ps21680 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vi.\u00a0  Selling, General and Administrative Expenses and Other Income and Expenses from <span id=\"i5daa9e338bd74056960f49129f7d2fe2\"></span></span></div><div class=\"ps21681 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps56\">business disposal</span></div><div class=\"ps21683 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:271.48pt\">Disclosure Selling, General and Administrative Expenses</span></div><div class=\"ps21684 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5024 ss337\"><div><div class=\"ps476 ss284\"><span class=\"f charStyle-183bdf94 ps6070\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6072 ss1683\"><div><div class=\"ps979 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6073 ss1683\"><div><div class=\"ps2776 ss338\"><span class=\"f charStyle-40131897 ps6071\">2024</span></div><div class=\"ps2777 ss338\"><span class=\"f charStyle-40131897 ps21577\">reclassified</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21578 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21579 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Personnel costs</span><span class=\"f charStyle-85922b7e ps21587\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21580 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">443.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21581 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">526.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Services, maintenance and insurance<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21582 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">122.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21583 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">131.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Impairment of tangible assets, brands and business disposed<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21584 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">90.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21585 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">56.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Travel, business trips, training and meetings<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps5086 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">42.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8000 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">55.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Depreciation/amortisation</span><span class=\"f charStyle-85922b7e ps21590\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21586 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">44.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21563 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">41.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Agents and other variable sales costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21534 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">5.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21535 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">5.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5271 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Utilities, fuel and insurance<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21588 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">7.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21589 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6904 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Board fees and indemnities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21591 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21592 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4642 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Charges for use of third-party assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21593 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">4.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21594 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">5.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4652 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21595 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21596 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">49.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4660 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">total selling, general and administrative expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21597 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">780.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21598 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">886.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21685 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.37pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps21604\" style=\"width:488.7pt\">For an analysis of personnel costs and depreciation and amortisation components by nature, please see also the breakdown of personnel costs in notes 3</span><span class=\"f charStyle-40131897 ps405\" style=\"width:1.94pt\"> </span></div><div class=\"ps21686 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:193.28pt\">vii-\u2018Personnel Costs\u2019 and 3 viii-\u2018Depreciation and Amortisation\u2019.</span></div><div class=\"ps13100 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:104.27pt\">At 31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21687\" style=\"width:330.69pt\">, the total selling, general and administrative expenses amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21688\" style=\"width:25.01pt\">780.6</span><span class=\"f charStyle-58d8bcbe ps21689\" style=\"width:36.22pt\"> million,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps13101 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:109.1pt\">showing a decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21690\" style=\"width:25.01pt\">106.0<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21691\" style=\"width:193.7pt\"> million compared to the figures reported in </span><span class=\"f charStyle-58d8bcbe ps21692\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps15376\" style=\"width:45.17pt\">. This was</span><span class=\"f charStyle-58d8bcbe ps21693\" style=\"width:100.92pt\"> mainly due to the cost</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps13102 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">containment measures launched in late 2024, which contributed to a progressive slowdown in growth across the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps13103 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">quarters of 2025. The program is confirmed on track to achieve a 200 basis point improvement in the selling,</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps13104 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">general and administrative expenses-to-sales ratio between 2025 and 2027, including a 70 basis point benefit in</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps13105 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:25.01pt\">2025.</span><span class=\"f charStyle-58d8bcbe ps7137\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:287.6pt\">Disclosure Other income (expenses) from business disposal</span></div><div class=\"ps8193 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291.75pt\"></td><td style=\"padding:0;width:102pt\"></td><td style=\"padding:0;width:102pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11762 ss858\"><div><div class=\"ps476 ss857\"><span class=\"f charStyle-183bdf94 ps21694\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11764 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11768 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21695 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21633 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1690\"><div><div class=\"ps2415 ss1689\"><span class=\"f charStyle-183bdf94 ps132\">Net result from business disposal<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21696 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">55.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21636 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-ba8ac8da ps132\">Other income and expenses from business disposal<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21698 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-ba8ac8da ps21640\">55.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21638 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-ba8ac8da ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21700 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Other operating income for the period amounted to \u20ac55.3 million are related to the non-recurring gain associated</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21701 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">with the sale of the Cinzano and Frattina business and the bottling facility in Australia (refer to 'Significant Events</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21702 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:104.13pt\">of the Year' paragraph).</span></div><div class=\"ps21705 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:170.21pt\">The other expenses incurred during </span><span class=\"f charStyle-58d8bcbe ps21704\" style=\"width:164.12pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps15830\" style=\"width:161.87pt\"> included components that may be</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21706 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">considered non-representative of the current operating results and are therefore highlighted separately. They</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21707 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">were represented as adjusting transactions for the purposes of alternative performance indicators considered in</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21712 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:246.62pt\">the Management Board Report. Throughout the year </span><span class=\"f charStyle-58d8bcbe ps21708\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps21709\" style=\"width:169.58pt\">, they comprised a net expense of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21710\" style=\"width:25.01pt\">124.6</span><span class=\"f charStyle-58d8bcbe ps21711\" style=\"width:32.71pt\"> million</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21718 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:75.11pt\">compared with \u20ac</span><span class=\"f charStyle-58d8bcbe ps21713\" style=\"width:25.01pt\">212.6</span><span class=\"f charStyle-58d8bcbe ps21714\" style=\"width:87.98pt\"> million reported in </span><span class=\"f charStyle-58d8bcbe ps2359\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21715\" style=\"width:102pt\">. The main impacts in </span><span class=\"f charStyle-58d8bcbe ps21716\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps21717\" style=\"width:161.65pt\"> related to non-recurring costs were</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21719 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">linked to Jamaica hurricane emergency (\u20ac1.6 million), finance transformation (\u20ac5.5 million) and fixed asset</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps21722 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:102.35pt\">impairment losses of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21720\" style=\"width:19.45pt\">90.0</span><span class=\"f charStyle-58d8bcbe ps21721\" style=\"width:374.4pt\"> million (\u20ac67.4 million related to brands, \u20ac22.6 million related to production facilities</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21723 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">under utilization). The non-recurring costs for the year also reflected the impact of certain settlement payments</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21724 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">to the Chief Financial and Operating Officer Paolo Marchesini, including the Last Mile Incentive, following the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21725 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">consensual termination of his Chief Financial and Operating Officer responsibilities and in accordance with the</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps21726 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">remuneration policy and existing agreements. These payments totalled \u20ac33.8 million, of which \u20ac31.1 million</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps21727 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">accrued in 2025. The related liability was largely settled in the fourth quarter of 2025. These costs were partially</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps21730 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:48.51pt\">offset by \u20ac</span><span class=\"f charStyle-58d8bcbe ps21728\" style=\"width:19.45pt\">55.3</span><span class=\"f charStyle-58d8bcbe ps21729\" style=\"width:428.12pt\"> million of disposal-related gain primarily associated with the sale of the Cinzano and Frattina</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21732 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:195.51pt\">business and the bottling facility in Australia.</span><span class=\"f charStyle-58d8bcbe ps21731\" style=\"width:2.77pt\"> </span></div><div class=\"ps21753 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291.75pt\"></td><td style=\"padding:0;width:102pt\"></td><td style=\"padding:0;width:102pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11762 ss858\"><div><div class=\"ps476 ss857\"><span class=\"f charStyle-183bdf94 ps7581\">for the years ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1691\"><div><div class=\"ps2776 ss1689\"><span class=\"f charStyle-40131897 ps132\">Reconciliation between recurring and total Selling, General and Administrative Expenses </span></div><div class=\"ps2777 ss1689\"><span class=\"f charStyle-40131897 ps132\">and Other Income and Expenses from business disposal</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11764 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11768 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11775 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11778 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps490 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-183bdf94 ps132\">total selling, general and administrative expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11785 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">780.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11787 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">886.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps498 ss1690\"><div><div class=\"ps2415 ss1689\"><span class=\"f charStyle-40131897 ps132\">net result from business disposal</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21735 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21734\">(55.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21736 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps505 ss1691\"><div><div class=\"ps2776 ss1689\"><span class=\"f charStyle-4b81288d ps132\">Total selling, general and administrative expenses and other income (expenses) from </span></div><div class=\"ps2777 ss1689\"><span class=\"f charStyle-4b81288d ps132\">business disposal</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21737 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">725.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21738 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">886.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6525 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-183bdf94 ps132\">restructuring and reorganisation costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21739 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21740 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">102.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8003 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-183bdf94 ps132\">goodwill, brand, tangible fixed assets impairment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21741 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">90.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21742 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">56.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps18749 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-40131897 ps132\">settlement payments to Chief Financial and Operating Officer</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21743 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">31.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21744 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8719 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-40131897 ps132\">net result from business disposal</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21745 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21734\">(55.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21746 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5285 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-40131897 ps132\">net expenses from acquisition/disposal of business and route to market changes</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21747 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21748 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">38.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps12742 ss1690\"><div><div class=\"ps485 ss1689\"><span class=\"f charStyle-183bdf94 ps132\">other adjustments of operating income (expenses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21749 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21647\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21750 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">15.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps10063 ss1691\"><div><div class=\"ps2776 ss1689\"><span class=\"f charStyle-4b81288d ps132\">Recurring selling, general and administrative expenses and other income (expenses) </span></div><div class=\"ps2777 ss1689\"><span class=\"f charStyle-4b81288d ps132\">from business disposal</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21751 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">656.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21752 ss1692\"><div><div class=\"ps979 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">674.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-452": {
   "value": "<div class=\"ps21754 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Personnel Costs<span id=\"i503ae20b544d4cd58a2525ac5df8e7d2\"></span></span></div><div class=\"ps8858 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps8859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">For detailed information on the accounting policy on post-employment plans and share-based payments, please</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8860 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:457.16pt\">refer to note 7 v-\u2018Share-based payments\u2019 and 8 iv-\u2018Defined benefit and contribution plans\u2019, respectively. </span><span class=\"f charStyle-58d8bcbe ps21755\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps4968 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5024 ss337\"><div><div class=\"ps485 ss284\"><span class=\"f charStyle-183bdf94 ps6070\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6072 ss1683\"><div><div class=\"ps979 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6073 ss1683\"><div><div class=\"ps2776 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2024<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss338\"><span class=\"f charStyle-183bdf94 ps21577\">reclassified<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21578 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21579 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Salaries and wages</span><span class=\"f charStyle-85922b7e ps21761\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21580 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">396.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21581 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">415.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Social security contributions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21582 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">91.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21583 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">87.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Cost of defined contribution plans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21584 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">15.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21585 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">15.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Cost of share-based payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps5086 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">23.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8000 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">27.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4628 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-40131897 ps132\">Other personnel costs</span><span class=\"f charStyle-85922b7e ps21762\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21586 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">36.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21563 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">103.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Total personnel costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21534 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">563.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21535 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">649.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss340\"><div><div class=\"ps6279 ss336\"><span class=\"f charStyle-d669f8f1 ps132\">of which:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21588 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21763\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21589 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps21763\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6904 ss340\"><div><div class=\"ps6279 ss336\"><span class=\"f charStyle-d669f8f1 ps132\">Included in cost of sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21591 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps12886\">113.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21592 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps12886\">116.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4642 ss340\"><div><div class=\"ps6279 ss336\"><span class=\"f charStyle-d669f8f1 ps132\">Included in selling, general and administrative expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21593 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps12886\">443.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21594 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps12886\">526.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4652 ss340\"><div><div class=\"ps6279 ss336\"><span class=\"f charStyle-0788a2e8 ps132\">Included in advertising and promotional expenses</span><span class=\"f charStyle-9d0ae393 ps21764\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21595 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps4314\">6.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21596 ss339\"><div><div class=\"ps6279 ss338\"><span class=\"f charStyle-d669f8f1 ps4314\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4660 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Total personnel costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21597 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">563.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21598 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">649.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21766 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.3pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps21765\" style=\"width:488.82pt\">In 2024, pursuant to the Remuneration Policy, a last mile incentive scheme with retention purpose to be potentially awarded to the previous Chief Financial</span><span class=\"f charStyle-40131897 ps381\" style=\"width:1.94pt\"> </span></div><div class=\"ps21767 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:496.21pt\">and Operating Office had been approved by the Parent Company\u2019s corporate bodies. For more information, refer to the section \u2018Governance \u2018in the Campari</span><span class=\"f charStyle-40131897 ps94\" style=\"width:1.94pt\"> </span></div><div class=\"ps21768 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:184.66pt\">Group annual report for the year ended 31 December 2024.</span><span class=\"f charStyle-40131897 ps706\" style=\"width:1.94pt\"> </span></div><div class=\"ps21769 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(2)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.53pt\"> Of which \u20ac1.2 million of current service costs related to defined benefit plans (note 8-iv. 'Defined Benefit and Contribution Plans') and \u20ac3.7 million related to</span><span class=\"f charStyle-40131897 ps123\" style=\"width:1.94pt\"> </span></div><div class=\"ps21770 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:496.15pt\">training programs focused on personalised development and future leadership. Following the consensual termination of his Chief Financial and Operating</span><span class=\"f charStyle-40131897 ps116\" style=\"width:1.94pt\"> </span></div><div class=\"ps21771 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:496.08pt\">Officer responsibilities, and in accordance with the remuneration policy and existing agreements, Paolo Marchesini was entitled to certain settlement payments</span><span class=\"f charStyle-40131897 ps123\" style=\"width:1.94pt\"> </span></div><div class=\"ps6454 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:466.58pt\">included in this line. For more information, refer to the section \u2018Governance' in the Campari Group annual report for the year ended 31 December 2025.</span></div><div class=\"ps6455 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:218.09pt\">Includes personnel costs relating to the management of brand houses.</span></div><div class=\"ps6457 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:100.13pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21772\" style=\"width:149.83pt\">, personnel costs, amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21773\" style=\"width:25.01pt\">563.4<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21774\" style=\"width:169.69pt\"> million, representing a decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21775\" style=\"width:19.45pt\">86.3</span><span class=\"f charStyle-58d8bcbe ps21776\" style=\"width:32.07pt\"> million</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21779 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:390.07pt\">compared with the prior year. Notably, when expressed as a percentage of sales, these </span><span class=\"f charStyle-58d8bcbe ps21777\" style=\"width:77.75pt\">costs declined to </span><span class=\"f charStyle-58d8bcbe ps21778\" style=\"width:28.34pt\">18.5%</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps8838 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:25.18pt\">from </span><span class=\"f charStyle-58d8bcbe ps21635\" style=\"width:28.34pt\">21.2%</span><span class=\"f charStyle-58d8bcbe ps21780\" style=\"width:5.19pt\"> </span><span class=\"f charStyle-58d8bcbe ps21781\" style=\"width:12.97pt\">in </span><span class=\"f charStyle-58d8bcbe ps21782\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21783\" style=\"width:402.26pt\">. This reduction reflected primarily the positive impact of the cost-efficiency measures</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps8839 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:388.85pt\">implemented under the cost containment programme launched in the latter part of 2024.</span></div><div class=\"ps26515 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Defined Benefit and Contribution Plans<span id=\"ie00818342c8e417ebceb6ac5d03ee5fc\"></span></span></div><div class=\"ps17523 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps26517 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:124.92pt\">Post-employment benefits</span></div><div class=\"ps26518 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:490.29pt\">Group companies provide post-employment benefits to staff, both directly and by contributing to external funds.</span></div><div class=\"ps3023 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">The procedures for providing these benefits vary depending on the legal, fiscal and economic conditions in each</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps26519 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:163.31pt\">country in which the Group operates.</span></div><div class=\"ps26520 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:93.89pt\">Defined benefit plans</span></div><div class=\"ps25680 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">The Group\u2019s obligations and the annual cost reported in the statement of profit or loss are determined by</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:270.55pt\">independent actuaries using the projected unit credit method.</span></div><div class=\"ps25688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The costs associated with an increase in the present value of the obligation, as the time for payment of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17251 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">benefits draws nearer, are included under financial expenses, while the service costs are posted under the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps26522 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:354.4pt\">reporting line of cost of sales and selling, general and administrative expenses.\u00a0 <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps26521\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps16012 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:115.56pt\">Defined contribution plans</span></div><div class=\"ps26523 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Based on legal or contractual obligations, or on a voluntary basis, the Group fulfils post-employment employee<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26524 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">obligations by paying contributions to a separate entity (publicly or privately administered pension funds),</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps26525 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">without making any actuarial calculation. At the end of the financial year, any liabilities for contributions to be</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps26526 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">paid are included in 'Other current liabilities\u2019, while the cost for the period is recognised under the reporting line</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps26529 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:288.31pt\">of cost of sales and selling, general and administrative expenses.</span><span class=\"f charStyle-2293a859 ps26527\" style=\"width:13.85pt\">\u00a0 \u00a0  </span><span class=\"f charStyle-58d8bcbe ps26528\" style=\"width:11.08pt\">\u00a0 \u00a0 </span></div><div class=\"ps26531 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps26532 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Regarding the Group\u2019s Italian subsidiaries, the defined benefit plans consist of the employee indemnity liability<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps12526 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">(\u2018TFR\u2019), to which its employees are entitled by law. Following the reform of the supplementary pension scheme</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps12527 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">in 2007, for companies employing at least 50 people, TFR contributions accrued up to 31 December 2006 are</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps12528 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">considered to be \u2018defined benefit plans\u2019, while contributions accruing from 1 January 2007, which have been</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12530 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">allocated to a fund held at the INPS (Italian social security agency) or to supplementary pension funds, are</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps26533 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">considered to be \u2018defined contribution plans\u2019. The portion of the TFR considered as a defined benefit plan</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">consists of an unfunded plan that does not, therefore, hold any dedicated assets. The other unfunded defined</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">benefit plans relate to Campari France Distribution SAS, Courvoisier SAS and Jubert SAS. Campari</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Deutschland GmbH and Campari Schweiz A.G. have some funded defined benefit plans in place for employees</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:275.92pt\">and/or former employees. These plans have dedicated assets.</span><span class=\"f charStyle-58d8bcbe ps26534\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">The liability for medical insurance in place at 31 December 2025 relates to J. Wray and Nephew Ltd. and offers</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">access to health care provided that employees stay with the company until pensionable age and have</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">completed a minimum period of service. The cost of these benefits is spread over the employee\u2019s service period</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:341.07pt\">using a calculation methodology similar to that used for defined benefit plans.</span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">The following table summarises the changes in the present value of defined benefit obligations, and the fair</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:186.62pt\">values of the assets relating to the plan in </span><span class=\"f charStyle-58d8bcbe ps26535\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps26536\" style=\"width:22.22pt\"> and </span><span class=\"f charStyle-58d8bcbe ps26537\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps26538\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-58d8bcbe ps26539\" style=\"width:2.77pt\"> </span></div><div class=\"ps15446 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:329.25pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:83.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6835 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26540\">liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24088 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps22595\">assets<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1842\"><div><div class=\"ps476 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Liabilities (assets) at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22186 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23823\">36.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24042 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(5.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in profit or loss:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-40131897 ps132\">current service costs</span><span class=\"f charStyle-85922b7e ps26541\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22199 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24044 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- past service costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24045 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24046 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- reduction/plan amendment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24047 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24048 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- net interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24049 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24050 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">- gains/(losses) on regulations implemented<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24052 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24053 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24055 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23827\">2.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24056 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in the statement of other comprehensive income:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- gain (losses) resulting from changes in actuarial assumptions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22231 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24059 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22240 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24060 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5134 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24061 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(2.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5140 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9630 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">Other changes:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- benefits paid<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24065 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(2.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24066 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- contribution to the plan by other members<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24069 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24070 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11650 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- contributions to the plan by employees<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24071 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24072 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- benefits transferred<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24073 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24074 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11659 ss1842\"><div><div class=\"ps476 ss1840\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:48.6pt\">- other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24076 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24077 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11663 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26543 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(4.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26544 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23827\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11174 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-4b81288d ps132\">Liabilities (assets) at 31 December 2025</span><span class=\"f charStyle-263a08f6 ps26545\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24078 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23823\">31.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24079 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(5.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26547 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:162.06pt\">Of which \u20ac1.1 million related to defined benefit plans</span><span class=\"f charStyle-40131897 ps26546\" style=\"width:92.1pt\"> and \u20ac-0.4 million related to ot</span><span class=\"f charStyle-40131897 ps14192\" style=\"width:40.4pt\">her liabilities.</span></div><div class=\"ps26551 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.39pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps26548\" style=\"width:366.2pt\">Of which \u20ac22.3 million included under Defined Benefit Plans (note 8 iv-'Defined benefit and contribution plans') and </span><span class=\"f charStyle-40131897 ps26549\" style=\"width:43.9pt\">\u20ac4.1 million in</span><span class=\"f charStyle-40131897 ps26550\" style=\"width:78.71pt\">cluded under Other Non-</span></div><div class=\"ps26552 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:357.85pt\">Current Liabilities (note 4 vi-'Other non-current liabilities' of this Campari Group Consolidated Financial Statements).</span></div><div class=\"ps26556 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:329.25pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:83.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6835 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26540\">liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24088 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps22595\">assets<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1842\"><div><div class=\"ps476 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Liabilities (assets) at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22186 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23823\">31.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24042 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(4.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in profit or loss:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1842\"><div><div class=\"ps485 ss1840\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b7fd29e5 ps132\" style=\"width:69.74pt\">'- current service costs</span><span class=\"f charStyle-3ee680ac ps26554\" style=\"width:5.55pt\"><sup>(1)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22199 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24044 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- net interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24045 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24046 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24047 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23827\">1.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24048 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in the statement of other comprehensive income:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- gain (losses) resulting from changes in actuarial assumptions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24052 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24053 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24055 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23827\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24056 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">Other changes:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- benefits paid<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22231 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24059 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1842\"><div><div class=\"ps485 ss1840\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b7fd29e5 ps132\" style=\"width:72.86pt\">'- business combination</span><span class=\"f charStyle-3ee680ac ps26555\" style=\"width:5.55pt\"><span class=\"f ps21\"> </span><sup>(2)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22240 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24060 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- contribution to the plan by other members<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24061 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps5140 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- contributions to the plan by employees<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24063 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24064 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- benefits transferred<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24065 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(1.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24066 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss1842\"><div><div class=\"ps476 ss1840\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:48.6pt\">- other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24069 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24070 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11650 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24071 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23827\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24072 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11655 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-4b81288d ps132\">Liabilities (assets) at 31 December 2024</span><span class=\"f charStyle-263a08f6 ps26545\"><sup>(3)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24073 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23823\">36.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24074 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(5.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26557 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:292.23pt\">Of which \u20ac0.7 million related to defined benefit plans and \u20ac0.2 million related to other liabilities.</span></div><div class=\"ps26559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:271.29pt\">Of which \u20ac3.1 million of business combination and \u20ac0.3 million of movement of the year.</span><span class=\"f charStyle-40131897 ps26558\" style=\"width:1.94pt\"> </span></div><div class=\"ps26561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.44pt\"><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps26560\" style=\"width:488.73pt\">Of which \u20ac25.9 million included under Defined Benefit Plans (note 8 iv-'Defined benefit and contribution plans'); of which \u20ac5.4 million included under Other</span><span class=\"f charStyle-40131897 ps118\" style=\"width:1.94pt\"> </span></div><div class=\"ps26562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:374.95pt\">Non-Current Liabilities (note 4 vi- 'Other non-current liabilities' of this Campari Group Consolidated Financial Statements).</span></div><div class=\"ps22936 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:20.86pt\">The </span><span class=\"f charStyle-58d8bcbe ps26563\" style=\"width:64.2pt\">following table</span><span class=\"f charStyle-58d8bcbe ps6061\" style=\"width:411.03pt\"> shows the total changes in obligations for defined benefit plans financed using assets that</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">serve the plan (funded obligations) and the liabilities relating to long-term unfunded benefits. It also includes</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">benefits categorised as \u2018other liabilities\u2019 linked to medical cover provided by J. Wray and Nephew Ltd. to its</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps22943 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:448.59pt\">current and/or former employees, and the long-term benefits of the Group\u2019s Italian companies (\u2018TFR\u2019).</span></div></div><div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:187.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Current value of obligations<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7930 ss931\"><div><div class=\"ps476 ss930\"><span class=\"f charStyle-183bdf94 ps26564\">unfunded obligations<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25872 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps6566\">funded obligations<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1971\"><div><div class=\"ps979 ss363\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22183 ss1437\"><div><div class=\"ps979 ss1423\"><span class=\"f charStyle-183bdf94 ps26565\">pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11809 ss1437\"><div><div class=\"ps979 ss1423\"><span class=\"f charStyle-183bdf94 ps26566\">other liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26568 ss1437\"><div><div class=\"ps2776 ss1423\"><span class=\"f charStyle-183bdf94 ps26567\">gross value of <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1423\"><span class=\"f charStyle-183bdf94 ps26565\">pension plans</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12113 ss1437\"><div><div class=\"ps2776 ss1423\"><span class=\"f charStyle-183bdf94 ps4114\">fair value of <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1423\"><span class=\"f charStyle-183bdf94 ps20499\">assets</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4104 ss1437\"><div><div class=\"ps979 ss1423\"><span class=\"f charStyle-183bdf94 ps26569\">net values<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-ba8ac8da ps132\">Liabilities (assets) at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26571 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26570\">24.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4608 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">5.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26573 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12123 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(5.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12125 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">1.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in profit or loss:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- current service costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26574 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26575 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26576 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26577 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26578 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- past service costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26579 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26581 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26582 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26583 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4552 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- reduction/plan amendment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7990 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26584 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26585 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps15962 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26586 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- net interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26587 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps4633 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26588 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26589 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26590 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- gains/(losses) on regulations implemented<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26591 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26592 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26593 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26594 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26595 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26596 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26597 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26598 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26599 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26600 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1971\"><div><div class=\"ps1094 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in the statement of other <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss363\"><span class=\"f charStyle-183bdf94 ps132\">comprehensive income:</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps12742 ss1971\"><div><div class=\"ps1094 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- gain/(losses) resulting from changes in actuarial <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss363\"><span class=\"f charStyle-183bdf94 ps132\">assumptions</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26601 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26602 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26603 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26604 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26605 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14096 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26606 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26607 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26608 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26609 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26610 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19374 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26611 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26612 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26613 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26614 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26615 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19377 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Other changes:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps25084 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- benefits paid<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26616 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26617 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26618 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26619 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26620 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps25097 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- contribution to the plan by other members<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26621 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26622 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26623 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26624 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26625 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps20135 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- contributions to the plan by employees<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26626 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26627 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26628 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26629 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26630 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14031 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- benefits transferred<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26631 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26632 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26633 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26634 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26635 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14032 ss364\"><div><div class=\"ps476 ss363\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:48.6pt\">- other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22298 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26636 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26637 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26638 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26639 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25145 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26640 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(3.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26641 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26642 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26643 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26644 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14105 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-4b81288d ps132\">Liabilities (assets) at 31 December 2025</span><span class=\"f charStyle-263a08f6 ps26545\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26645 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26570\">20.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26646 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">4.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26647 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">6.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26648 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(5.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26649 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">1.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26653 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.5pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps26650\" style=\"width:363.9pt\">Of which \u20ac22.3 million included under Defined benefit plans (note 8 iv-'Defined benefit and contribution plans') and</span><span class=\"f charStyle-40131897 ps26651\" style=\"width:34.79pt\"> \u20ac4.1 millio</span><span class=\"f charStyle-40131897 ps26652\" style=\"width:89.84pt\">n included under Other non-</span></div><div class=\"ps26654 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:353.96pt\">current liabilities (note 4 vi-'Other non-current liabilities' of this Campari Group Consolidated Financial Statements).</span></div><div class=\"ps26737 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:188.25pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">Current value of obligations<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22022 ss931\"><div><div class=\"ps476 ss930\"><span class=\"f charStyle-183bdf94 ps26564\">unfunded obligations<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22862 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps6566\">funded obligations<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1973\"><div><div class=\"ps979 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26656 ss1437\"><div><div class=\"ps979 ss1423\"><span class=\"f charStyle-183bdf94 ps26565\">pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20503 ss1437\"><div><div class=\"ps979 ss1423\"><span class=\"f charStyle-183bdf94 ps26566\">other liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22864 ss1437\"><div><div class=\"ps2776 ss1423\"><span class=\"f charStyle-183bdf94 ps26567\">gross value of <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1423\"><span class=\"f charStyle-183bdf94 ps26565\">pension plans</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26657 ss1437\"><div><div class=\"ps2776 ss1423\"><span class=\"f charStyle-183bdf94 ps4114\">fair value of <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1423\"><span class=\"f charStyle-183bdf94 ps20499\">assets</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26658 ss1437\"><div><div class=\"ps979 ss1423\"><span class=\"f charStyle-183bdf94 ps26569\">net values<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-ba8ac8da ps132\">Liabilities (assets) at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26659 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26570\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26660 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">3.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22871 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">5.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24111 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(4.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26661 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in profit or loss:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- current service costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22037 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26662 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26663 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24122 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26664 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- past service costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22048 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26665 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps4549 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24128 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26666 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- net interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26667 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26668 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26669 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24137 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21482 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4628 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26670 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26671 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26672 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24145 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26673 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1973\"><div><div class=\"ps1094 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in the statement of other comprehensive <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">income:</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps8719 ss1973\"><div><div class=\"ps1094 ss1713\"><span class=\"f charStyle-40131897 ps132\">- gain/(losses) resulting from changes in actuarial </span></div><div class=\"ps473 ss1713\"><span class=\"f charStyle-40131897 ps132\">assumptions</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26674 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26675 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26676 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26677 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26678 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14175 ss1714\" style=\"overflow:hidden\"><div><div class=\"ps26680 ss1713\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:182.96pt\">- changes to plan assets (excluding components already<span class=\"f ps21\"> </span></span><span class=\"f charStyle-183bdf94 ps26679\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26681 ss1713\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:106.9pt\">considered in net interest payable)</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26682 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26683 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26684 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26685 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26686 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5299 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26687 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26688 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26689 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26690 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26691 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14096 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26692 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26693 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26694 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26695 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26696 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19374 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">Other changes:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps19377 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- benefits paid<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26697 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26698 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26699 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26700 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26701 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps25084 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- business combination<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26702 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26703 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26704 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26705 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26706 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps25097 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- contribution to the plan by other members<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26707 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26708 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26709 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26710 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26711 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps20135 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- contributions to the plan by employees<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26712 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26713 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26714 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26715 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26716 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14031 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- benefits transferred<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26717 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(1.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26718 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26719 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26720 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26721 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14032 ss1714\"><div><div class=\"ps476 ss1713\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:48.6pt\">- other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26722 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26723 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26724 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26725 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26726 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25145 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26727 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26728 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26729 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26730 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26731 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14105 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-4b81288d ps132\">Liabilities (assets) at 31 December 2024</span><span class=\"f charStyle-263a08f6 ps26545\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26732 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-ba8ac8da ps26570\">24.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26733 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">5.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26734 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26735 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(5.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26736 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">1.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26738 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.5pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps26650\" style=\"width:488.53pt\">Of which \u20ac25.9 million included under Defined benefit plans (note 8 iv-'Defined benefit and contribution plans') and \u20ac5.4 million included under Other non-</span></div><div class=\"ps26739 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:352.8pt\">current liabilities (note 4 vi-'Other non-current liabilities' of this Campari Group Consolidated Financial statements).</span></div><div class=\"ps19818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">The cost of work provided is classified under personnel costs, financial liabilities on obligations are classified</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps17294 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">under financial liabilities, and the effects of the recalculation of actuarial impacts are recognised in the other</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps19819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:269.82pt\">items of the statement of other comprehensive income. The </span><span class=\"f charStyle-58d8bcbe ps26740\" style=\"width:63.77pt\">following table</span><span class=\"f charStyle-58d8bcbe ps26741\" style=\"width:162.64pt\"> provides a breakdown of the values</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps19820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:177.75pt\">of assets that service the pension plans.</span></div></div><div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:287.25pt\"></td><td style=\"padding:0;width:104.25pt\"></td><td style=\"padding:0;width:104.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14913 ss981\"><div><div class=\"ps485 ss980\"><span class=\"f charStyle-183bdf94 ps26742\">at 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14918 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-183bdf94 ps26743\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26744 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-183bdf94 ps26743\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1975\"><div><div class=\"ps476 ss1974\"><span class=\"f charStyle-183bdf94 ps132\">- equity investments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14922 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps23800\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26745 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps23800\">3.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1976\"><div><div class=\"ps22869 ss1974\"><span class=\"f charStyle-183bdf94 ps132\">- insurance policies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14925 ss1977\"><div><div class=\"ps22869 ss1014\"><span class=\"f charStyle-183bdf94 ps23800\">2.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26746 ss1977\"><div><div class=\"ps22869 ss1014\"><span class=\"f charStyle-183bdf94 ps23800\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1975\"><div><div class=\"ps476 ss1974\"><span class=\"f charStyle-ba8ac8da ps132\">Fair value of plan assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24448 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-ba8ac8da ps23800\">5.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26747 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-ba8ac8da ps23800\">5.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26749 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:463.29pt\">Obligations related to the plans indicated above are calculated on the basis of the following assumptions.</span></div><div class=\"ps26787 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:110.25pt\"></td><td style=\"padding:0;width:70.5pt\"></td><td style=\"padding:0;width:70.5pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:60.75pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1369\"><div><div class=\"ps485 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26751 ss1979\"><div><div class=\"ps485 ss1978\"><span class=\"f charStyle-183bdf94 ps26750\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25542 ss1979\"><div><div class=\"ps485 ss1978\"><span class=\"f charStyle-183bdf94 ps26750\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21078 ss941\"><div><div class=\"ps485 ss409\"><span class=\"f charStyle-183bdf94 ps12315\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26753 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-183bdf94 ps26752\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11338 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23894\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps17054 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23894\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24494 ss391\"><div><div class=\"ps476 ss390\"><span class=\"f charStyle-183bdf94 ps26754\">unfunded pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12108 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps26755\">funded pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5480 ss400\"><div><div class=\"ps476 ss389\"><span class=\"f charStyle-183bdf94 ps26756\">other plans<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Discount rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26757 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94 ps9114\">2,98%-4,10%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26758 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-40131897 ps9114\">3.00%-3.40%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26760 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94 ps26759\">1,10%-3,63%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26761 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps20117\">1.05%-1.90%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4120 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26762\"></span><span class=\"ps26762\">6.50%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26763 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94 ps23072\">8.50%-9.00%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Future salary increases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps24502 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94 ps9114\">2,00%-2,50%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26764 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-40131897 ps9114\">2.00%-3.42%</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26765 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94 ps26759\">0,00%-2,40%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26766 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps20117\">1.40%-2.40%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps4137 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:47.32pt\"></span></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23939 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:47.32pt\"></span></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Future pension increases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26768 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:62.46pt\"></span></span><span class=\"ps24954\">-<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26769 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:62.46pt\"></span></span><span class=\"ps24954\">-<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26770 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94 ps26759\">1,25%-2,00%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26771 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps20117\">1.05%-2.00%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps4150 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:47.32pt\"></span></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23944 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:47.32pt\"></span></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1980\"><div><div class=\"ps473 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Growth rate of healthcare costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps24507 ss1981\"><div><div class=\"ps473 ss1978\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:62.46pt\"></span></span><span class=\"ps24954\">-<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26772 ss1981\"><div><div class=\"ps473 ss1978\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:62.46pt\"></span></span><span class=\"ps24954\">-<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26774 ss410\"><div><div class=\"ps473 ss409\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:53.32pt\"></span></span><span class=\"ps26773\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26776 ss226\"><div><div class=\"ps473 ss210\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:48.82pt\"></span></span><span class=\"ps26775\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps4161 ss1402\"><div><div class=\"ps473 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26762\"></span><span class=\"ps26762\">5.50%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23953 ss1402\"><div><div class=\"ps473 ss304\"><span class=\"f charStyle-183bdf94 ps23072\">7.50%-8.00%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Expected return on assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26777 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:62.46pt\"></span></span><span class=\"ps24954\">-<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25560 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:62.46pt\"></span></span><span class=\"ps24954\">-<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22973 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26773\"></span><span class=\"ps26773\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26778 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:48.82pt\"></span></span><span class=\"ps26775\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps12197 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26767\"></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26779 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26767\"></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Staff turnover rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26780 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94 ps6738\">0,00%-39,00%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25563 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-40131897 ps6738\">0.00%-37.00%</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22975 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26773\"></span><span class=\"ps26773\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26781 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26775\"></span><span class=\"ps26775\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps5544 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26767\"></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps5546 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26767\"></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Forecast inflation rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26782 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94 ps9114\">2,00%-2,00%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26783 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-40131897 ps9114\">2.00%-2.50%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22977 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26784\"></span><span class=\"ps26784\">1.00%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25243 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26785\"></span><span class=\"ps26785\">1.00%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25006 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26762\"></span><span class=\"ps26762\">4.00%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26786 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26762\"></span><span class=\"ps26762\">6.00%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26789 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The rates relating to the costs of future medical costs are not included in the assumptions used in determining</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps4984 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:434.6pt\">the above-defined benefit obligations. Thus, any changes in these rates would not have any effect.</span><span class=\"f charStyle-58d8bcbe ps26790\" style=\"width:2.77pt\"> </span></div><div class=\"ps4992 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:313.07pt\">A quantitative sensitivity analysis of the significant assumptions used </span><span class=\"f charStyle-58d8bcbe ps26791\" style=\"width:98.46pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26792\" style=\"width:84.56pt\"> is provided below.</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps4993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">Specifically, it shows the effect on the final net obligation arising from a positive or negative percentage change</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps4994 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:128.88pt\">in the key assumptions used.</span></div><div class=\"ps26847 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1982 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15607 ss1815\"><div><div class=\"ps476 ss1814\"><span class=\"f charStyle-183bdf94 ps26794\">unfunded pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20559 ss1815\"><div><div class=\"ps476 ss1814\"><span class=\"f charStyle-183bdf94 ps26795\">funded pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9101 ss1815\"><div><div class=\"ps476 ss1814\"><span class=\"f charStyle-183bdf94 ps26796\">other plans<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:36pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15620 ss1499\"><div><div class=\"ps2374 ss1397\"><span class=\"f charStyle-183bdf94 ps16489\">change in the <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss1397\"><span class=\"f charStyle-183bdf94 ps8004\">assumptions</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26798 ss1499\"><div><div class=\"ps2974 ss1397\"><span class=\"f charStyle-183bdf94 ps13246\">impact of <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss1397\"><span class=\"f charStyle-183bdf94 ps4034\">positive </span></div><div class=\"ps2976 ss1397\"><span class=\"f charStyle-183bdf94 ps26797\">change<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26800 ss1499\"><div><div class=\"ps2974 ss1397\"><span class=\"f charStyle-183bdf94 ps13246\">impact of <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss1397\"><span class=\"f charStyle-183bdf94 ps26799\">negative </span></div><div class=\"ps2976 ss1397\"><span class=\"f charStyle-183bdf94 ps26797\">change<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20561 ss1499\"><div><div class=\"ps2374 ss1397\"><span class=\"f charStyle-183bdf94 ps16489\">change in the <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss1397\"><span class=\"f charStyle-183bdf94 ps8004\">assumptions</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11809 ss1499\"><div><div class=\"ps2974 ss1397\"><span class=\"f charStyle-183bdf94 ps13246\">impact of <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss1397\"><span class=\"f charStyle-183bdf94 ps4034\">positive </span></div><div class=\"ps2976 ss1397\"><span class=\"f charStyle-183bdf94 ps26797\">change<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6310 ss1499\"><div><div class=\"ps2974 ss1397\"><span class=\"f charStyle-183bdf94 ps13246\">impact of <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss1397\"><span class=\"f charStyle-183bdf94 ps26799\">negative </span></div><div class=\"ps2976 ss1397\"><span class=\"f charStyle-183bdf94 ps26797\">change<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20646 ss1499\"><div><div class=\"ps2374 ss1397\"><span class=\"f charStyle-183bdf94 ps16489\">change in the <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss1397\"><span class=\"f charStyle-183bdf94 ps8004\">assumptions</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss1499\"><div><div class=\"ps2974 ss1397\"><span class=\"f charStyle-183bdf94 ps13246\">impact of <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss1397\"><span class=\"f charStyle-183bdf94 ps4034\">positive </span></div><div class=\"ps2976 ss1397\"><span class=\"f charStyle-183bdf94 ps26797\">change<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23609 ss1499\"><div><div class=\"ps2974 ss1397\"><span class=\"f charStyle-183bdf94 ps13246\">impact of <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss1397\"><span class=\"f charStyle-183bdf94 ps26799\">negative </span></div><div class=\"ps2976 ss1397\"><span class=\"f charStyle-183bdf94 ps26797\">change<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1089 ss546\"><div><div class=\"ps476 ss538\"><span class=\"f charStyle-ba8ac8da ps132\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps5494 ss546\"><div><div class=\"ps476 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Discount rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26802 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps17826\">+\\- 0.25%-0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps26803 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps24792\">-1,43%/-1,87<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26805 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps26804\">1,43%/1,94%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26806 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps23865\"> +/- 0.5%/1%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps26807 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps8959\">-6,19%/-8,4%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26808 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps26804\">6,95%/9.80%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26810 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+/- 1.0%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps26811 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps22038\">-8.98%/-7,77%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps26813 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps26812\">7.63/8,86%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps5738 ss543\"><div><div class=\"ps1094 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Future salary <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss538\"><span class=\"f charStyle-183bdf94 ps132\">increases</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps15644 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+\\- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26815 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps14860\"></span><span class=\"ps14860\">0.04%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26816 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps4124\"></span><span class=\"ps4124\">-0.05%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26817 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+/- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26818 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps14860\"></span><span class=\"ps14860\">1.60%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26819 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-c6dd72c8 ps4107\">-1.60%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26821 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26822 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26823 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps4965 ss543\"><div><div class=\"ps1094 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Future pension <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss538\"><span class=\"f charStyle-183bdf94 ps132\">increases</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26824 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26826 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:38.05pt\"></span></span><span class=\"ps26825\">-<span style=\"display:inline-block;height:4.36pt;width:5.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26827 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:38.05pt\"></span></span><span class=\"ps26825\">-<span style=\"display:inline-block;height:4.36pt;width:5.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps22467 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps18466\"> +/-0.50%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26828 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps14860\"></span><span class=\"ps14860\">3.18%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps6370 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps4124\"></span><span class=\"ps4124\">-3.28%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26829 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps21856 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps23618 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps5271 ss543\"><div><div class=\"ps1094 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Forecast <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss538\"><span class=\"f charStyle-183bdf94 ps132\">inflation rate</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26831 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26830\">+\\- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26832 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps14860\"></span><span class=\"ps14860\">0.27%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26833 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps4124\"></span><span class=\"ps4124\">-0.26%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26834 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26597 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:38.05pt\"></span></span><span class=\"ps26825\">-<span style=\"display:inline-block;height:4.36pt;width:5.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26835 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:38.05pt\"></span></span><span class=\"ps26825\">-<span style=\"display:inline-block;height:4.36pt;width:5.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26836 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps21804 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26837 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps5285 ss543\"><div><div class=\"ps1094 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Staff turnover <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss538\"><span class=\"f charStyle-183bdf94 ps132\">rate</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26838 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+\\- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26839 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps14860\"></span><span class=\"ps14860\">0.90%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26840 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps4124\"></span><span class=\"ps4124\">-0.88%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26841 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26842 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:38.05pt\"></span></span><span class=\"ps26825\">-<span style=\"display:inline-block;height:4.36pt;width:5.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26843 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:38.05pt\"></span></span><span class=\"ps26825\">-<span style=\"display:inline-block;height:4.36pt;width:5.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26844 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26845 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26846 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26875 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1982 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss546\"><div><div class=\"ps476 ss538\"><span class=\"f charStyle-ba8ac8da ps132\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1983\"><div><div class=\"ps14944 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Discount rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps15620 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps17826\">+\\- 0.25%-0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps26798 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps22038\">-4.80%/-0.78%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26800 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps26804\">0.90%/5.20%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps20561 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+/- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps11809 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps22038\">-6.53%/-8.40%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps6310 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps26804\">7.38%/9.90%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps20646 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+/- 1.0%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps21296 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps22038\">-4.35%/-7.75%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps23609 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps26804\">8.98%/4.35%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps2347 ss543\"><div><div class=\"ps1094 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Future salary <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss538\"><span class=\"f charStyle-183bdf94 ps132\">increases</span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26848 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+\\- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26849 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26804\">0.47%/1.30%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26850 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps22038\">-0.44%/-1.20%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26851 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+/- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26852 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps14860\"></span><span class=\"ps14860\">1.70%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26853 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps4124\"></span><span class=\"ps4124\">-1.60%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26854 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26855 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26856 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps3332 ss543\"><div><div class=\"ps1094 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Future pension <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss538\"><span class=\"f charStyle-183bdf94 ps132\">increases</span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26857 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26858 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26859 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26860 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps6738\">+/-0.50%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26861 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps14860\"></span><span class=\"ps14860\">3.45%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26862 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps4124\"></span><span class=\"ps4124\">-3.28%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26863 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26864 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26865 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps11246 ss543\"><div><div class=\"ps1094 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Staff turnover <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss538\"><span class=\"f charStyle-183bdf94 ps132\">rate</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26866 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+\\- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26867 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26804\">0.05%/0.50%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26868 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps22038\">-0.05%/-0.50%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26869 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26870 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26871 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26872 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26873 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26874 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps10283 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">The sensitivity analysis shown above is based on a method involving the extrapolation of the impact on the net</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps10284 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">obligation for defined benefit plans of reasonable changes to the key assumptions made at the end of the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps10285 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">financial year. The methodology and the assumptions made in preparing the sensitivity analysis remain</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps10286 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:153.9pt\">unchanged from the previous year.</span></div><div class=\"ps10287 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">Given that pension liabilities have been adjusted based on the consumer price index, the pension plan is</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps10288 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">exposed to the various countries\u2019 inflation rates, to interest rate risks, and to changes in the future salary and</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps10289 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">pension increases. Given that the assets servicing the plans mainly relate to investments in bonds, the Group is</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps10290 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">also exposed to market risk in the related sectors. Overall, considering the contained exposure to funded</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps10291 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">pension plans leveraging on plan assets, the financial volatility of markets is not generating material disruption</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps10292 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:52pt\">or criticality.</span><span class=\"f charStyle-58d8bcbe ps26876\" style=\"width:2.77pt\"> </span></div><div class=\"ps10295 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">The following payments are the expected contributions made in future years to provide for the obligations of the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps10296 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:95pt\">defined benefit plans.</span><span class=\"f charStyle-58d8bcbe ps26877\" style=\"width:2.77pt\"> </span></div></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:195.75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1878\"><div><div class=\"ps979 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23897 ss376\"><div><div class=\"ps979 ss281\"><span class=\"f charStyle-183bdf94 ps26878\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8551 ss376\"><div><div class=\"ps2776 ss281\"><span class=\"f charStyle-183bdf94 ps11957\">unfunded pension <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss281\"><span class=\"f charStyle-183bdf94 ps26879\">plans</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7280 ss376\"><div><div class=\"ps979 ss281\"><span class=\"f charStyle-183bdf94 ps26880\">funded pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8442 ss376\"><div><div class=\"ps979 ss281\"><span class=\"f charStyle-183bdf94 ps26881\">other plans<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Within 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26882 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8446\">13.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8559 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8446\">12.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps480 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26883 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">From 2 to 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26884 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">5.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26885 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps486 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">2.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26886 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps490 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-40131897 ps132\">More than 5 years</span><span class=\"f charStyle-85922b7e ps26887\"><sup> (1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26888 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">8.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26889 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">3.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps495 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26890 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps498 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26891 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8446\">27.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26892 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8446\">19.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps503 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8450\">5.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26893 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8450\">1.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps505 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">Average plan duration (years)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26895 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">12<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26896 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">12<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps508 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">13<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26897 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">14<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3136 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:278.71pt\">Italian and Swiss companies have expected future contributions calculated up to 10 years.</span><span class=\"f charStyle-40131897 ps107\" style=\"width:1.94pt\"> </span></div><div class=\"ps26899 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:195.75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1878\"><div><div class=\"ps979 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23897 ss376\"><div><div class=\"ps979 ss281\"><span class=\"f charStyle-183bdf94 ps26878\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8551 ss376\"><div><div class=\"ps2776 ss281\"><span class=\"f charStyle-183bdf94 ps11957\">unfunded pension <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss281\"><span class=\"f charStyle-183bdf94 ps26879\">plans</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7280 ss376\"><div><div class=\"ps979 ss281\"><span class=\"f charStyle-183bdf94 ps26880\">funded pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8442 ss376\"><div><div class=\"ps979 ss281\"><span class=\"f charStyle-183bdf94 ps26881\">other plans<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Within 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26882 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8446\">14.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8559 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8446\">13.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps480 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26883 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">From 2 to 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26884 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">5.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26885 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps486 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">2.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26886 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">More than 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26888 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">9.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26889 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">4.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps495 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">3.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26890 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26891 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8446\">29.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26892 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8446\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps503 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8450\">5.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26893 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8450\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">Average plan duration (years)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26895 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">13<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26896 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">13<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps508 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">13<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26897 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">15<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:278.71pt\">Italian and Swiss companies have expected future contributions calculated up to 10 years.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-453": {
   "value": "<div class=\"ps21784 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">viii.\u00a0  Depreciation and Amortisation<span id=\"i92368a538cb442a78753c4b6a3366bf9\"></span></span></div><div class=\"ps7692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps7693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">For detailed information on the accounting policy, please refer to notes 6 vii-\u2018Lease components in the statement</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">of financial position\u2019, 4 ii-\u2018Property, plant and equipment, right of use assets and biological assets\u2019, 4</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7695 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:338.44pt\">iii-\u2018Intangible assets\u2019 and 8 iii-\u2018Fair value information on assets and liabilities\u2019.<span class=\"f ps21\"> </span></span></div><div class=\"ps7697 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21825 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1034\"><div><div class=\"ps979 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21296 ss1034\"><div><div class=\"ps2776 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1000\"><span class=\"f charStyle-183bdf94 ps21787\">reclassified<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21788 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21789 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Property, plant and equipment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21790 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">91.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21791 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">75.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Right of use assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21793 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21794 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">2.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Intangible assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21795 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">3.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21796 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Depreciation and amortisation included in cost of sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21797 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">98.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21798 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">81.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4628 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Property, plant and equipment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21800 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21799\">11.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21801 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21799\">11.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Right of use assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21802 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">15.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21803 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">14.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Intangible assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7355 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">18.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21804 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">16.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1695\"><div><div class=\"ps2776 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Depreciation and amortisation included in selling, general and administrative <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">expenses</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21805 ss1034\"><div><div class=\"ps979 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">44.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21806 ss1034\"><div><div class=\"ps979 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">41.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12742 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-a29ad9d0 ps132\">'</span><span class=\"f charStyle-40131897 ps21807\">-Property, plant and equipment</span><span class=\"f charStyle-85922b7e ps21808\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21809 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21810 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps10063 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Right of use assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21811 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21812 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7033 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Intangible assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21813 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21814 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps3386 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Depreciation and amortisation included in advertising and promotional expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21815 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">4.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21816 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">4.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7042 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-40131897 ps132\">'-Property, plant and equipment</span><span class=\"f charStyle-85922b7e ps21808\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21817 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21548\">106.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21818 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">89.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps7047 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Right of use assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21819 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">19.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21820 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">18.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7053 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">- Intangible assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21821 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">22.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21822 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">19.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2532 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total depreciation and amortisation in the statement of profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21823 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21548\">148.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21824 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21548\">127.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21826 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:159.35pt\">This item included depreciation of biological assets.</span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Property, Plant and Equipment, Right of Use Assets and Biological Assets<span id=\"i7ab0f0c6725c4fc4a6e25c73fcb2cbc0\"></span></span></div><div class=\"ps1268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Land, even if acquired in conjunction with a building, is not depreciated, nor are held-for-sale tangible assets,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">which are reported at the lower of their carrying amount and fair value less cost to sell. Barrels are depreciated<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">based on the useful life, which can vary depending on the maturing work in progress for the liquid. For lease-</span></div><div class=\"ps1275 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">hold-improvements, the period of depreciation is the shorter of the economic life of the asset and the contract</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">duration of the underlying lease agreement. For right of use assets, unless the Group is reasonably certain that</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">it will obtain ownership of the leased asset at the end of the lease term, they are amortised on a straight-line</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:401.55pt\">basis over their estimated useful life or the term of the agreement, whichever is the shorter.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps22414\" style=\"width:11.08pt\">\u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div><div class=\"ps1281 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">The Group depreciation rate ranges by asset category are as follows:</span></div><div class=\"ps22424 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1729 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:266.25pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps47 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">business-related properties and light construction:\u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22417 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22416\">\u00a0 1.5%-10%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8762 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">plant and machinery:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22419 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22418\"> 2.5%-12.5%</span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">furniture, office and electronic equipment:\u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps15097 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22420\">\u00a0 10%-20%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1089 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">vehicles:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22421 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps484\"> 20%-25%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps15164 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">miscellaneous equipment:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22423 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22422\">\u00a0  2%-30%</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">Depreciation ceases on the date on which the asset is classified as held for sale or on which the asset is<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22427 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:273.88pt\">derecognised for accounting purposes, whichever occurs first.</span></div><div class=\"ps22429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Depreciation rates are revised through an ongoing assessment of the residual useful life of each asset category.</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.59pt\"> </span></div><div class=\"ps22430 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">This assessment is conducted in accordance with the technical and physical condition of the assets, the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22432 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:467.74pt\">technological environment, external factors, and generally accepted market and industry valuation criteria.</span><span class=\"f charStyle-2293a859 ps22431\" style=\"width:2.77pt\"> </span></div><div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Intangible assets amortisation and impairment</span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">Intangible assets with a finite life are amortised on a straight-line basis in relation to their useful life and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">reviewed for impairment whenever events or circumstances indicate that the carrying amount may not be</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">recoverable. The amortisation period of intangible assets with a finite life is reviewed at least at the end of every</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">financial year in order to ascertain any changes in their useful life, which, if identified, will be treated as changes</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.09pt\">in estimates.</span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Other intangible assets with indefinite and definite life contain distribution rights and key money, the latter tested</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.24pt\">for impairment leveraging on a specialised third-party expert opinion connected to real estate assets.</span><span class=\"f charStyle-2293a859 ps22567\" style=\"width:3.45pt\"> </span><span class=\"f charStyle-2293a859 ps22568\" style=\"width:39.43pt\">Software</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:109.97pt\">amortisation rate is 20%.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-455": {
   "value": "<div class=\"ps21829 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ix.\u00a0  Research and Innovation Costs<span id=\"icf66879a0a4d4e29abb02cee513d1918\"></span></span></div><div class=\"ps1529 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1530 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Costs incurred in research, in developing alternative products or processes, or in conducting technological</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1531 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">research and development are recognised in profit or loss in the period in which they are incurred under</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1532 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:171.13pt\">advertising and promotional expenses.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-454": {
   "value": "<div class=\"ps21829 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ix.\u00a0  Research and Innovation Costs<span id=\"icf66879a0a4d4e29abb02cee513d1918\"></span></span></div><div class=\"ps1529 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1530 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Costs incurred in research, in developing alternative products or processes, or in conducting technological</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1531 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">research and development are recognised in profit or loss in the period in which they are incurred under</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1532 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:171.13pt\">advertising and promotional expenses.</span></div><div class=\"ps1480 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps1481 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">The Group\u2019s research and development activities are related solely to ordinary production and commercial</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">activities, namely ordinary product quality control and packaging studies in various markets. The research and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:121.32pt\">innovation costs, totalling </span><span class=\"f charStyle-58d8bcbe ps11597\" style=\"width:5.56pt\">\u20ac</span><span class=\"f charStyle-58d8bcbe ps21830\" style=\"width:19.45pt\">26.6</span><span class=\"f charStyle-58d8bcbe ps21831\" style=\"width:22.28pt\"> milli</span><span class=\"f charStyle-58d8bcbe ps21832\" style=\"width:11.12pt\">on<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21833\" style=\"width:17.92pt\"> in </span><span class=\"f charStyle-58d8bcbe ps21834\" style=\"width:165.97pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21835\" style=\"width:84.73pt\"> (\u20ac25.4 million in </span><span class=\"f charStyle-58d8bcbe ps21836\" style=\"width:22.24pt\">2024<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps21837\" style=\"width:25.62pt\">), are</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div>recognised in the statement of profit or loss for the year they are incurred.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-469": {
   "value": "<div class=\"ps21839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">x.\u00a0  Financial Income and Expenses<span id=\"i7b0f1b10bd0d4bd39f331821165ea732\"></span></span></div><div class=\"ps1536 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps1537 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Financial income and expenses include interest income and expenses in respect of financial instruments and</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:321.78pt\">the results of hedging transactions used to manage interest rate risk. </span><span class=\"f charStyle-2293a859 ps21840\" style=\"width:174.36pt\">Borrowing costs are recognised in the</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">statement of profit or loss income statement based on the effective interest method, except for the qualifying</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:299.06pt\">assets whose borrowing costs are capitalised on the underlying </span><span class=\"f charStyle-2293a859 ps21841\" style=\"width:23.89pt\">asset</span><span class=\"f charStyle-2293a859 ps21842\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-2293a859 ps21843\" style=\"width:170.39pt\"> The remaining financial components</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">include items in respect of post-employment plans, the discount unwind of long-term obligations and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17020 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">hyperinflation charges. The exchange gains or losses are inclusive of derivatives agreement impacts, excluding</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps17842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.27pt\">cash flow hedges that are used to cover the currency risk of highly probable future currency transactions.</span></div><div class=\"ps2267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">For detailed information on the accounting policy for financial instruments, please refer to note 6 i-\u2018Financial</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.65pt\">instruments\u2019.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-468": {
   "value": "<div class=\"ps21839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">x.\u00a0  Financial Income and Expenses<span id=\"i7b0f1b10bd0d4bd39f331821165ea732\"></span></span></div><div class=\"ps1536 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps1537 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Financial income and expenses include interest income and expenses in respect of financial instruments and</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:321.78pt\">the results of hedging transactions used to manage interest rate risk. </span><span class=\"f charStyle-2293a859 ps21840\" style=\"width:174.36pt\">Borrowing costs are recognised in the</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">statement of profit or loss income statement based on the effective interest method, except for the qualifying</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:299.06pt\">assets whose borrowing costs are capitalised on the underlying </span><span class=\"f charStyle-2293a859 ps21841\" style=\"width:23.89pt\">asset</span><span class=\"f charStyle-2293a859 ps21842\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-2293a859 ps21843\" style=\"width:170.39pt\"> The remaining financial components</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">include items in respect of post-employment plans, the discount unwind of long-term obligations and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17020 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">hyperinflation charges. The exchange gains or losses are inclusive of derivatives agreement impacts, excluding</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps17842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.27pt\">cash flow hedges that are used to cover the currency risk of highly probable future currency transactions.</span></div><div class=\"ps2267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">For detailed information on the accounting policy for financial instruments, please refer to note 6 i-\u2018Financial</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.65pt\">instruments\u2019.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-467": {
   "value": "<div class=\"ps21839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">x.\u00a0  Financial Income and Expenses<span id=\"i7b0f1b10bd0d4bd39f331821165ea732\"></span></span></div><div class=\"ps1536 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps1537 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Financial income and expenses include interest income and expenses in respect of financial instruments and</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:321.78pt\">the results of hedging transactions used to manage interest rate risk. </span><span class=\"f charStyle-2293a859 ps21840\" style=\"width:174.36pt\">Borrowing costs are recognised in the</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">statement of profit or loss income statement based on the effective interest method, except for the qualifying</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:299.06pt\">assets whose borrowing costs are capitalised on the underlying </span><span class=\"f charStyle-2293a859 ps21841\" style=\"width:23.89pt\">asset</span><span class=\"f charStyle-2293a859 ps21842\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-2293a859 ps21843\" style=\"width:170.39pt\"> The remaining financial components</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">include items in respect of post-employment plans, the discount unwind of long-term obligations and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17020 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">hyperinflation charges. The exchange gains or losses are inclusive of derivatives agreement impacts, excluding</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps17842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.27pt\">cash flow hedges that are used to cover the currency risk of highly probable future currency transactions.</span></div><div class=\"ps2267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">For detailed information on the accounting policy for financial instruments, please refer to note 6 i-\u2018Financial</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.65pt\">instruments\u2019.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-466": {
   "value": "<div class=\"ps21839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">x.\u00a0  Financial Income and Expenses<span id=\"i7b0f1b10bd0d4bd39f331821165ea732\"></span></span></div><div class=\"ps1536 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps1537 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Financial income and expenses include interest income and expenses in respect of financial instruments and</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:321.78pt\">the results of hedging transactions used to manage interest rate risk. </span><span class=\"f charStyle-2293a859 ps21840\" style=\"width:174.36pt\">Borrowing costs are recognised in the</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">statement of profit or loss income statement based on the effective interest method, except for the qualifying</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:299.06pt\">assets whose borrowing costs are capitalised on the underlying </span><span class=\"f charStyle-2293a859 ps21841\" style=\"width:23.89pt\">asset</span><span class=\"f charStyle-2293a859 ps21842\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-2293a859 ps21843\" style=\"width:170.39pt\"> The remaining financial components</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">include items in respect of post-employment plans, the discount unwind of long-term obligations and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17020 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">hyperinflation charges. The exchange gains or losses are inclusive of derivatives agreement impacts, excluding</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps17842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.27pt\">cash flow hedges that are used to cover the currency risk of highly probable future currency transactions.</span></div><div class=\"ps2267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">For detailed information on the accounting policy for financial instruments, please refer to note 6 i-\u2018Financial</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17843 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.65pt\">instruments\u2019.</span><span class=\"f charStyle-58d8bcbe ps6812\" style=\"width:2.77pt\"> </span></div><div class=\"ps21923 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xii.\u00a0  Share of Profit (Loss) of Joint-Ventures<span id=\"i23cab2adac574659b64fe8dd82174abd\"></span></span><span class=\"f charStyle-6c6fcc93 ps21922\"> and Profit (loss) from other investments </span></div><div class=\"ps21939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Any committed payments to increment the ownership interest in a joint-venture, in the form of a put and/or call</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.05pt\">option or a combination of both, cannot be estimated and recorded as a financial liability at the time of the</span><span class=\"f charStyle-2293a859 ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps21941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">transaction since the guidance valid for financial instruments does not apply to interests in joint-ventures that are</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">accounted for using the equity method. These written agreements for put and/or call options are derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21943 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">agreements and represented in the Group accounts as financial instruments measured at fair value with an</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impact in the statement of profit or loss. At the time of expiration of the call and/or put options, the derivative is</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">replaced by an increased value of the investment to be recorded against the cash out for the derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:51.64pt\">settlement. </span><div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps23189 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps23190 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:297.73pt\">Financial instruments held by the Group are categorised as follows.</span></div><div class=\"ps23192 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:240.55pt\">Financial assets, including trade and other receivables<span class=\"f ps21\"> </span></span></div><div class=\"ps14661 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets include investments, short-term securities and financial receivables, which, in turn, include the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23193 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">positive fair value of financial derivatives, trade and other receivables and cash and cash equivalents. Trade</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23194 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">receivables arise from contracts with customers and are recognised when performance obligations are satisfied,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23195 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">and the consideration due is unconditional as only the passage of time is required before the payment is</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps23196 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:40.56pt\">received.</span></div><div class=\"ps23197 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">Cash and cash equivalents include cash, bank deposits and highly liquid securities that are readily convertible</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23198 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">into cash and are subject to an insignificant risk of a change in value. Deposits and securities included in this</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23199 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">category mature in less than three months based on the conditions existing on the date of the acquisition of the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23200 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">asset. Current securities include short-term securities or marketable securities that represent a temporary</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23202 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:446.61pt\">investment of cash and do not meet the requirements for classification as cash and cash equivalents.</span><span class=\"f charStyle-2293a859 ps23201\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps23204 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Financial assets are classified and measured based on a business model developed by the Group. The</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23205 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">business model has been defined at a level that reflects the way in which groups of financial assets are</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps23206 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">managed to achieve a particular business objective. The model\u2019s measurement process requires an<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23207 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">assessment based on both quantitative and qualitative factors relating to, for example, the way in which the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23208 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">performance of the financial assets in question is communicated to management with strategic responsibilities<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23209 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:364.96pt\">and the way in which the risks connected with these financial assets are managed.</span></div><div class=\"ps22484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:435.43pt\">The Group measures a financial asset at amortised cost if it meets both of the following conditions:</span></div><div class=\"ps23210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.04pt\">it is held under a business model whose objective is to hold assets aiming to collect contractual cash flows;</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:19.45pt\">and,</span></div><div class=\"ps23212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.94pt\">its contractual terms and conditions are such that the cash flows generated by the asset are attributable</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:281.06pt\">exclusively to payments of the principal and the related interest.</span></div><div class=\"ps23214 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">Financial assets measured at amortised cost are measured at fair value at the time of initial recognition;</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps23215 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">subsequent measurements reflect the repayments made, the effects of applying the effective interest method</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">and any write-downs. Any gain or loss made on derecognition is recognised in profit or loss, together with</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:156.69pt\">foreign exchange gains and losses.</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets also include investments in companies that are not held for trading. These assets are strategic</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">investments, and the Group has decided to recognise changes in the related fair values through profit or loss</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:44.4pt\">(\u2018FVTPL\u2019).</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets represented by debt securities are classified and valued in the statement of financial position</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">based on the business model adopted to manage these financial assets and the financial flows associated with</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">each financial asset. They are measured at fair value through other comprehensive income (\u2018FVOCI\u2019) if all the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:198.3pt\">conditions required by IFRS 9 are respected.</span><span class=\"f charStyle-2293a859 ps23216\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps23217\" style=\"width:11.08pt\">\u00a0 \u00a0 </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:135.52pt\">Impairment of a financial asset</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets are tested for recoverability by applying an impairment model based on the expected credit loss</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:32.76pt\">(\u2018ECL\u2019).</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group applies the simplified method for trade receivables, which considers the probability of default over</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">the financial instrument\u2019s life (lifetime expected credit losses). In making impairment assessments, the Group</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">considers its historical credit loss experience, adjusted for forward-looking factors specific to the nature of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Group\u2019s receivables and economic environment. If any such evidence exists, an impairment loss is recognised</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">under selling, general and administrative expenses. More specifically, non-performing receivables are analysed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">based on the debtor\u2019s creditworthiness and ability to pay the sums due, as well as the degree of effective</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.92pt\">coverage provided by any collateral and personal guarantees in existence.</span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">With regard to trade receivables, two approaches are applied to estimate impairment, based on the specific</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">characteristics of the individual countries in which the Group operates and its constant growth at a global level:</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">one is a matrix-based model and the other applies the probability of default (\u2018PD\u2019) obtained from external</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">sources specialising in the country in which each subsidiary is located. The provision matrix, including the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:331.6pt\">overall actual result of the year, is reported in the relevant disclosure notes.</span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">A financial asset is impaired when internal or external information indicates that it is unlikely that the Group will</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:154.97pt\">receive the full contractual amount.</span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Lastly, with regard to other financial assets measured at amortised cost, and, more specifically, cash and cash</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">equivalents, the impact in terms of expected loss is not considered material and for this reason no adjustment is</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:111.66pt\">made to the book values.</span><span class=\"f charStyle-2293a859 ps5973\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps23218\" style=\"width:72.02pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:238.88pt\">Financial liabilities, including trade and other payables</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Financial liabilities include financial payables, bonds and loans due to banks, which, in turn, include the negative</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">fair value of financial derivatives, trade payables and other payables including contingent consideration and</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:313.32pt\">variable payments deriving from business combinations or asset deals.</span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Financial liabilities are classified and measured at amortised cost, except for financial liabilities that are initially<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">measured at fair value, i.e., derivative instruments, financial liabilities relating to earn-out linked to business</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.29pt\">combinations and financial liabilities for put options over non-controlling interests.</span><span class=\"f charStyle-2293a859 ps23219\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Trade and other payables are initially recognised at fair value including transaction costs and subsequently</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:112.19pt\">carried at amortised cost.</span><span class=\"f charStyle-2293a859 ps3146\" style=\"width:41.55pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Derecognition of financial assets and liabilities</span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:467.52pt\">primarily derecognised (i.e., removed from the Group\u2019s consolidated statement of financial position) when:</span><span class=\"f charStyle-2293a859 ps23220\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:279.37pt\">the rights to receive cash flows from the asset have expired, or,</span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482pt\">the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">the received cash flows in full without material delay to a third party under a \u2018pass-through\u2019 arrangement and</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.99pt\">either (i) the Group has transferred substantially all the risks and rewards of the asset, or (ii) the Group has</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.01pt\">neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:87.19pt\">control of the asset.</span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">When an existing financial liability is replaced by another from the same lender on substantially different terms,</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">derecognition of the original liability and the recognition of a new liability. The difference in the respective</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:283.26pt\">carrying amounts is recognised in the statement of profit or loss.</span><span class=\"f charStyle-2293a859 ps23221\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">For detailed information on the accounting policy for put and call options over joint-ventures agreements, please</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:423.16pt\">refer to note 3 xii-\u2018Share of profit (loss) of joint-ventures and Profit (loss) from other investments\u2019</span><span class=\"f charStyle-2293a859 ps23222\" style=\"width:2.77pt\">.</span></div><div class=\"ps7834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:11.08pt\">\u00a0 \u00a0 </span></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:205.01pt\">Financial derivatives and hedging transactions</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Financial derivatives embedded in contracts in which the primary element is a financial asset that falls within the</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">scope of IFRS 9 are not treated separately. The hybrid instrument is instead examined as a whole for</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.85pt\">classification in the statement of financial position and subsequent measurement.</span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Financial derivatives are used exclusively for hedging purposes to reduce exchange and interest rate risk. They</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">are only accounted for by applying the methods established for hedge accounting (fair value hedge or cash flow</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">hedge) if, at the start of the hedging period, the hedging relationship has been designated. It is assumed that the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">hedge is highly effective: this effectiveness must be reliably measured during the accounting periods for which it</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:286.62pt\">is designated. All financial derivatives are measured at fair value.</span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Where financial instruments meet the requirements to be reported using hedge accounting procedures, the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.08pt\">accounting treatment related to fair value hedge or cash flow hedge is applied.<span class=\"f ps21\"> </span></span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">If hedge accounting cannot be applied, any gains or losses resulting from measuring the financial derivative at</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:268.24pt\">its present value are posted to the statement of profit or loss.</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The Group is exposed to certain risks related to its ongoing business operations. The primary risks managed</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:329.93pt\">using derivative instruments are foreign currency risk and interest rate risk.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Derivatives are designated as hedging instruments in the form of i) foreign exchange forward and option</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">contracts, elected as cash flow hedges to hedge highly probable forecast sales and purchases in different</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">currencies compared to \u20ac and, ii) interest-rate swap contracts to mitigate the risk associated with variable</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:378.85pt\">interest rate changes on loan and bond agreements not issued at a fixed interest rate.</span><span class=\"f charStyle-2293a859 ps23223\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The Group also uses derivatives not designated as hedging instruments to reflect the change in fair value of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">foreign exchange rates of forward and option contracts that are not elected in hedge relationships, but are,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:443.86pt\">nevertheless, intended to reduce the level of foreign currency risk for expected sales and purchases.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">For Campari Group, net exposure to foreign exchange effects is limited to highly probable intra-group</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">transactions among Group companies relating to certain sales and purchases, regulated in currencies other</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:19.45pt\">than</span><span class=\"f charStyle-58d8bcbe ps23224\" style=\"width:4.3pt\"> </span><span class=\"f charStyle-2293a859 ps23225\" style=\"width:472.48pt\">the functional currencies of the companies. Although these transactions represent only a portion of the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">overall business, the Group determines the net exposure to the primary currencies (US$, GBP, AUD) based on</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">its predicted intercompany sales and purchases up to 18 months. Moreover, the Group determines the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">existence of an economic relationship between the hedging instrument and hedged item based on the currency,</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">amount and timing of their respective cash flows. The Group\u2019s reference is the budget exposure split by</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">currencies and, as effectively as possible, any under/over exposure which may arise through plain vanilla</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">currency derivatives. The derivative covers the period of exposure from the point the cash flows of the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">transactions forecasted up to the point of settlement of the resulting receivable or payable that is denominated in</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">the foreign currency. Derivative contracts aiming to mitigate currency exchange risks are dynamically and</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">qualitatively managed based on business needs and specific contexts and circumstances. These are not framed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">within fixed or quantitative policies regarding the percentage of coverage to be achieved. To avoid excessive</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">coverage, the budget for future transactions is typically hedged at a level between 50% and 90% throughout the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.45pt\">whole year. In the hedge relationships the main sources of ineffectiveness are:</span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:215.35pt\">interest rate differentials between currencies and</span><span class=\"f charStyle-2293a859 ps23226\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.04pt\">discrepancies between invoices issued and hedging contracts (i.e., changes in the timing of the hedge</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.99pt\">transaction).</span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Regarding derivative contracts intended to hedge interest rate exposures, they are namely connected with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">financing and there is no established quantitative policy concerning the optimal level of exposure to fixed or<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">variable rates: the Group manages its interest rate risk by having a balanced portfolio of fixed and variable rate</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">loans and borrowings. The preferred exposure to fixed or variable rates is dynamically managed centrally within</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">the Group, considering current and future market conditions, the Group's level of indebtedness, business</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">performance and in the context of the Group's expansion initiatives. The Group determines the existence of an</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">economic relationship between the hedging instrument and hedged item based on the reference interest rates,</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">tenors, repricing dates and maturities and the notional or par amount.</span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps20060\" style=\"width:72.02pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:92.79pt\">Financial guarantees</span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">The Group recognises financial guarantees as a financial liability if the likelihood of these guarantees being</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">called is assessed not to be remote and the Group is expected to be liable for any legal obligation in respect of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">these financial guarantee agreements. Financial guarantee contract liabilities are measured initially at their fair</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">value, with subsequent remeasurement impacting profit or loss. They are represented as a long- or short-term</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">financial liability, depending on the time of the expected execution of the guarantees. If the likelihood of these</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">guarantees being called is assessed to be remote, they are treated as commitments with disclosure</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">requirements only. This occurs when they are represented as other forms of security in favour of third parties,</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:361.64pt\">such as customs guarantees for excise duties and guarantees to grant credit lines</span><span class=\"f charStyle-2293a859 ps20057\" style=\"width:2.77pt\">.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-465": {
   "value": "<div class=\"ps21839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">x.\u00a0  Financial Income and Expenses<span id=\"i7b0f1b10bd0d4bd39f331821165ea732\"></span></span></div><div class=\"ps1536 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps1537 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Financial income and expenses include interest income and expenses in respect of financial instruments and</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:321.78pt\">the results of hedging transactions used to manage interest rate risk. </span><span class=\"f charStyle-2293a859 ps21840\" style=\"width:174.36pt\">Borrowing costs are recognised in the</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">statement of profit or loss income statement based on the effective interest method, except for the qualifying</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:299.06pt\">assets whose borrowing costs are capitalised on the underlying </span><span class=\"f charStyle-2293a859 ps21841\" style=\"width:23.89pt\">asset</span><span class=\"f charStyle-2293a859 ps21842\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-2293a859 ps21843\" style=\"width:170.39pt\"> The remaining financial components</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">include items in respect of post-employment plans, the discount unwind of long-term obligations and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17020 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">hyperinflation charges. The exchange gains or losses are inclusive of derivatives agreement impacts, excluding</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps17842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.27pt\">cash flow hedges that are used to cover the currency risk of highly probable future currency transactions.</span></div><div class=\"ps2267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">For detailed information on the accounting policy for financial instruments, please refer to note 6 i-\u2018Financial</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17843 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.65pt\">instruments\u2019.</span><span class=\"f charStyle-58d8bcbe ps6812\" style=\"width:2.77pt\"> </span></div><div class=\"ps17845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21874 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21845\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps14882\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Put option and earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21853 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21854 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Other expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21855 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21856 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21857 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(120.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21858 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(115.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21859 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21860 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21861 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21862 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21863 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21864 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21865 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21866 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21867 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21868 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11645 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial income<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21869 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">69.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21870 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">37.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11650 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-4b81288d ps132\">Net financial income (expenses) </span><span class=\"f charStyle-263a08f6 ps21871\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21872 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21873 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21876 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:331.92pt\"> Of which adjustments to financial income (expenses) equal to \u20ac0.2 million in 2025 and \u20ac0.5 million in 2024.</span><span class=\"f charStyle-40131897 ps21875\" style=\"width:1.94pt\"> </span></div><div class=\"ps21878 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Net financial income (expenses), which included the effects of earn-out change in estimate, exchange rate</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:282.73pt\">differences and hyperinflation, reported a total net cost of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21879\" style=\"width:19.45pt\">50.7</span><span class=\"f charStyle-58d8bcbe ps21880\" style=\"width:141.01pt\"> million, with a decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21881\" style=\"width:19.45pt\">26.5</span><span class=\"f charStyle-58d8bcbe ps21882\" style=\"width:33.59pt\"> million</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:58.33pt\">compared to </span><span class=\"f charStyle-58d8bcbe ps7814\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps19781\" style=\"width:2.77pt\">.</span></div><div class=\"ps21887 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:313.85pt\">The breakdown by nature of net financial expenses for the period is as </span><span class=\"f charStyle-58d8bcbe ps21886\" style=\"width:30.55pt\">follows</span><span class=\"f charStyle-58d8bcbe ps17024\" style=\"width:2.77pt\">.<span class=\"f ps21\"> </span></span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:296.25pt\"></td><td style=\"padding:0;width:99.75pt\"></td><td style=\"padding:0;width:99.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11591 ss278\"><div><div class=\"ps476 ss277\"><span class=\"f charStyle-183bdf94 ps21889\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11593 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11594 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11596 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4046 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11599 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(55.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4070 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(38.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on loans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11602 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(46.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11603 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(67.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11605 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11606 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11609 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11610 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11614 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11615 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11617 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11618 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Other net expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11622 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11623 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6297 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Other financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11626 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(13.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11629 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21891\">(8.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6300 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before exchange gain (losses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11633 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(102.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11634 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(80.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps5134 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11636 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11638 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before adjustments, hyperinflation and put option<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11640 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11641 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(89.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1697\"><div><div class=\"ps485 ss1696\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:112.73pt\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11643 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11644 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial income (expenses) and adjustments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11647 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11648 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(88.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11650 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11652 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11653 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11657 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11658 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11613\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11659 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11661 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11662 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11663 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Net financial income (expenses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11665 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11666 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:181.8pt\">Focusing on the main components for </span><span class=\"f charStyle-58d8bcbe ps21895\" style=\"width:164.32pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21896\" style=\"width:150.09pt\">, interest expenses amounted to</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps6229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:5.56pt\">\u20ac</span><span class=\"f charStyle-58d8bcbe ps7136\" style=\"width:25.01pt\">105.3</span><span class=\"f charStyle-58d8bcbe ps7139\" style=\"width:101.25pt\"> million, compared to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21897\" style=\"width:24.27pt\">110.1</span><span class=\"f charStyle-58d8bcbe ps21898\" style=\"width:85.14pt\"> million reported in </span><span class=\"f charStyle-58d8bcbe ps21899\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21900\" style=\"width:232.7pt\">. This slight decrease primarily reflected the reduced</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps6231 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:435.09pt\">net financial debt outstanding. In relation to interest on bank and term deposits they amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21901\" style=\"width:19.45pt\">16.6</span><span class=\"f charStyle-58d8bcbe ps21902\" style=\"width:31.11pt\"> million</span><span class=\"f charStyle-58d8bcbe ps21903\" style=\"width:10.56pt\"> in</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps6238 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:100.26pt\">2025 compared with \u20ac</span><span class=\"f charStyle-58d8bcbe ps21904\" style=\"width:19.45pt\">38.0</span><span class=\"f charStyle-58d8bcbe ps21905\" style=\"width:31.74pt\"> million</span><span class=\"f charStyle-58d8bcbe ps21906\" style=\"width:344.77pt\"> in 2024. The year\u2011on\u2011year decline primarily reflects the higher average cash</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6239 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:388.31pt\">balances held in early 2024, in advance of the completion of the Courvoisier acquisition.</span><span class=\"f charStyle-58d8bcbe ps21907\" style=\"width:2.77pt\"> </span></div><div class=\"ps2211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The sustainability-linked facilities that contain a variable component of the interest rate applicable depending on</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">the achievement of certain ESG targets identified by Campari Group and particularly focused on the reduction of</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">emissions, as well as the responsible use of water and gender equality, led to an overall reduced interest</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2217 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:236.09pt\">expense of \u20ac0.2 million in 2025 (\u20ac0.2 million in 2024).</span></div><div class=\"ps2218 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The borrowing costs associated with the acquisition of qualified assets amounted to \u20ac0.4 million in 2025 (\u20ac0.2</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps2219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:69.99pt\">million in 2024).</span></div><div class=\"ps2221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:432.33pt\">The change in estimate relating to the earn\u2011out arrangement resulted in a positive impact of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21908\" style=\"width:19.45pt\">49.6</span><span class=\"f charStyle-58d8bcbe ps21909\" style=\"width:44.33pt\"> million in</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:373.66pt\">2025, arising from the remeasurement of the related contingent consideration liability</span><span class=\"f charStyle-58d8bcbe ps21910\" style=\"width:2.77pt\">.</span></div><div class=\"ps2227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:346.65pt\"><span style=\"background-color:inherit\">The breakdown of interest payable to bondholders is shown in the table below.</span></span></div><div class=\"ps6303 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Financial expenses payable to bondholders<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(45.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(40.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Net changes in fair value and other amortised cost components<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Cash flow hedge reserve reported in the statement of profit or loss during the year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Net interest payable on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(55.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(38.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-464": {
   "value": "<div class=\"ps21839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">x.\u00a0  Financial Income and Expenses<span id=\"i7b0f1b10bd0d4bd39f331821165ea732\"></span></span></div><div class=\"ps1536 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps1537 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Financial income and expenses include interest income and expenses in respect of financial instruments and</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:321.78pt\">the results of hedging transactions used to manage interest rate risk. </span><span class=\"f charStyle-2293a859 ps21840\" style=\"width:174.36pt\">Borrowing costs are recognised in the</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">statement of profit or loss income statement based on the effective interest method, except for the qualifying</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:299.06pt\">assets whose borrowing costs are capitalised on the underlying </span><span class=\"f charStyle-2293a859 ps21841\" style=\"width:23.89pt\">asset</span><span class=\"f charStyle-2293a859 ps21842\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-2293a859 ps21843\" style=\"width:170.39pt\"> The remaining financial components</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">include items in respect of post-employment plans, the discount unwind of long-term obligations and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17020 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">hyperinflation charges. The exchange gains or losses are inclusive of derivatives agreement impacts, excluding</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps17842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.27pt\">cash flow hedges that are used to cover the currency risk of highly probable future currency transactions.</span></div><div class=\"ps2267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">For detailed information on the accounting policy for financial instruments, please refer to note 6 i-\u2018Financial</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17843 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.65pt\">instruments\u2019.</span><span class=\"f charStyle-58d8bcbe ps6812\" style=\"width:2.77pt\"> </span></div><div class=\"ps17845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21874 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21845\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps14882\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Put option and earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21853 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21854 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Other expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21855 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21856 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21857 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(120.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21858 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(115.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21859 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21860 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21861 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21862 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21863 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21864 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21865 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21866 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21867 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21868 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11645 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial income<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21869 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">69.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21870 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">37.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11650 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-4b81288d ps132\">Net financial income (expenses) </span><span class=\"f charStyle-263a08f6 ps21871\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21872 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21873 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21876 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:331.92pt\"> Of which adjustments to financial income (expenses) equal to \u20ac0.2 million in 2025 and \u20ac0.5 million in 2024.</span><span class=\"f charStyle-40131897 ps21875\" style=\"width:1.94pt\"> </span></div><div class=\"ps21878 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Net financial income (expenses), which included the effects of earn-out change in estimate, exchange rate</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:282.73pt\">differences and hyperinflation, reported a total net cost of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21879\" style=\"width:19.45pt\">50.7</span><span class=\"f charStyle-58d8bcbe ps21880\" style=\"width:141.01pt\"> million, with a decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21881\" style=\"width:19.45pt\">26.5</span><span class=\"f charStyle-58d8bcbe ps21882\" style=\"width:33.59pt\"> million</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:58.33pt\">compared to </span><span class=\"f charStyle-58d8bcbe ps7814\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps19781\" style=\"width:2.77pt\">.</span></div><div class=\"ps21887 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:313.85pt\">The breakdown by nature of net financial expenses for the period is as </span><span class=\"f charStyle-58d8bcbe ps21886\" style=\"width:30.55pt\">follows</span><span class=\"f charStyle-58d8bcbe ps17024\" style=\"width:2.77pt\">.<span class=\"f ps21\"> </span></span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:296.25pt\"></td><td style=\"padding:0;width:99.75pt\"></td><td style=\"padding:0;width:99.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11591 ss278\"><div><div class=\"ps476 ss277\"><span class=\"f charStyle-183bdf94 ps21889\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11593 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11594 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11596 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4046 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11599 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(55.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4070 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(38.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on loans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11602 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(46.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11603 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(67.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11605 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11606 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11609 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11610 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11614 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11615 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11617 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11618 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Other net expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11622 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11623 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6297 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Other financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11626 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(13.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11629 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21891\">(8.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6300 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before exchange gain (losses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11633 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(102.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11634 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(80.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps5134 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11636 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11638 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before adjustments, hyperinflation and put option<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11640 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11641 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(89.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1697\"><div><div class=\"ps485 ss1696\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:112.73pt\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11643 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11644 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial income (expenses) and adjustments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11647 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11648 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(88.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11650 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11652 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11653 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11657 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11658 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11613\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11659 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11661 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11662 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11663 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Net financial income (expenses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11665 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11666 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:181.8pt\">Focusing on the main components for </span><span class=\"f charStyle-58d8bcbe ps21895\" style=\"width:164.32pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21896\" style=\"width:150.09pt\">, interest expenses amounted to</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps6229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:5.56pt\">\u20ac</span><span class=\"f charStyle-58d8bcbe ps7136\" style=\"width:25.01pt\">105.3</span><span class=\"f charStyle-58d8bcbe ps7139\" style=\"width:101.25pt\"> million, compared to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21897\" style=\"width:24.27pt\">110.1</span><span class=\"f charStyle-58d8bcbe ps21898\" style=\"width:85.14pt\"> million reported in </span><span class=\"f charStyle-58d8bcbe ps21899\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21900\" style=\"width:232.7pt\">. This slight decrease primarily reflected the reduced</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps6231 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:435.09pt\">net financial debt outstanding. In relation to interest on bank and term deposits they amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21901\" style=\"width:19.45pt\">16.6</span><span class=\"f charStyle-58d8bcbe ps21902\" style=\"width:31.11pt\"> million</span><span class=\"f charStyle-58d8bcbe ps21903\" style=\"width:10.56pt\"> in</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps6238 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:100.26pt\">2025 compared with \u20ac</span><span class=\"f charStyle-58d8bcbe ps21904\" style=\"width:19.45pt\">38.0</span><span class=\"f charStyle-58d8bcbe ps21905\" style=\"width:31.74pt\"> million</span><span class=\"f charStyle-58d8bcbe ps21906\" style=\"width:344.77pt\"> in 2024. The year\u2011on\u2011year decline primarily reflects the higher average cash</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6239 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:388.31pt\">balances held in early 2024, in advance of the completion of the Courvoisier acquisition.</span><span class=\"f charStyle-58d8bcbe ps21907\" style=\"width:2.77pt\"> </span></div><div class=\"ps2211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The sustainability-linked facilities that contain a variable component of the interest rate applicable depending on</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">the achievement of certain ESG targets identified by Campari Group and particularly focused on the reduction of</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">emissions, as well as the responsible use of water and gender equality, led to an overall reduced interest</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2217 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:236.09pt\">expense of \u20ac0.2 million in 2025 (\u20ac0.2 million in 2024).</span></div><div class=\"ps2218 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The borrowing costs associated with the acquisition of qualified assets amounted to \u20ac0.4 million in 2025 (\u20ac0.2</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps2219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:69.99pt\">million in 2024).</span></div><div class=\"ps2221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:432.33pt\">The change in estimate relating to the earn\u2011out arrangement resulted in a positive impact of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21908\" style=\"width:19.45pt\">49.6</span><span class=\"f charStyle-58d8bcbe ps21909\" style=\"width:44.33pt\"> million in</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:373.66pt\">2025, arising from the remeasurement of the related contingent consideration liability</span><span class=\"f charStyle-58d8bcbe ps21910\" style=\"width:2.77pt\">.</span></div><div class=\"ps2227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:346.65pt\"><span style=\"background-color:inherit\">The breakdown of interest payable to bondholders is shown in the table below.</span></span></div><div class=\"ps6303 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Financial expenses payable to bondholders<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(45.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(40.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Net changes in fair value and other amortised cost components<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Cash flow hedge reserve reported in the statement of profit or loss during the year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Net interest payable on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(55.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(38.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-463": {
   "value": "<div class=\"ps21839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">x.\u00a0  Financial Income and Expenses<span id=\"i7b0f1b10bd0d4bd39f331821165ea732\"></span></span></div><div class=\"ps1536 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps1537 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Financial income and expenses include interest income and expenses in respect of financial instruments and</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:321.78pt\">the results of hedging transactions used to manage interest rate risk. </span><span class=\"f charStyle-2293a859 ps21840\" style=\"width:174.36pt\">Borrowing costs are recognised in the</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">statement of profit or loss income statement based on the effective interest method, except for the qualifying</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:299.06pt\">assets whose borrowing costs are capitalised on the underlying </span><span class=\"f charStyle-2293a859 ps21841\" style=\"width:23.89pt\">asset</span><span class=\"f charStyle-2293a859 ps21842\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-2293a859 ps21843\" style=\"width:170.39pt\"> The remaining financial components</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">include items in respect of post-employment plans, the discount unwind of long-term obligations and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17020 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">hyperinflation charges. The exchange gains or losses are inclusive of derivatives agreement impacts, excluding</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps17842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.27pt\">cash flow hedges that are used to cover the currency risk of highly probable future currency transactions.</span></div><div class=\"ps2267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">For detailed information on the accounting policy for financial instruments, please refer to note 6 i-\u2018Financial</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17843 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.65pt\">instruments\u2019.</span><span class=\"f charStyle-58d8bcbe ps6812\" style=\"width:2.77pt\"> </span></div><div class=\"ps17845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21874 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21845\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps14882\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Put option and earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21853 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21854 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Other expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21855 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21856 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21857 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(120.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21858 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(115.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21859 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21860 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21861 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21862 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21863 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21864 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21865 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21866 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21867 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21868 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11645 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial income<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21869 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">69.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21870 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">37.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11650 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-4b81288d ps132\">Net financial income (expenses) </span><span class=\"f charStyle-263a08f6 ps21871\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21872 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21873 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21876 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:331.92pt\"> Of which adjustments to financial income (expenses) equal to \u20ac0.2 million in 2025 and \u20ac0.5 million in 2024.</span><span class=\"f charStyle-40131897 ps21875\" style=\"width:1.94pt\"> </span></div><div class=\"ps21878 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Net financial income (expenses), which included the effects of earn-out change in estimate, exchange rate</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:282.73pt\">differences and hyperinflation, reported a total net cost of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21879\" style=\"width:19.45pt\">50.7</span><span class=\"f charStyle-58d8bcbe ps21880\" style=\"width:141.01pt\"> million, with a decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21881\" style=\"width:19.45pt\">26.5</span><span class=\"f charStyle-58d8bcbe ps21882\" style=\"width:33.59pt\"> million</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:58.33pt\">compared to </span><span class=\"f charStyle-58d8bcbe ps7814\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps19781\" style=\"width:2.77pt\">.</span></div><div class=\"ps21887 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:313.85pt\">The breakdown by nature of net financial expenses for the period is as </span><span class=\"f charStyle-58d8bcbe ps21886\" style=\"width:30.55pt\">follows</span><span class=\"f charStyle-58d8bcbe ps17024\" style=\"width:2.77pt\">.<span class=\"f ps21\"> </span></span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:296.25pt\"></td><td style=\"padding:0;width:99.75pt\"></td><td style=\"padding:0;width:99.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11591 ss278\"><div><div class=\"ps476 ss277\"><span class=\"f charStyle-183bdf94 ps21889\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11593 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11594 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11596 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4046 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11599 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(55.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4070 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(38.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on loans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11602 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(46.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11603 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(67.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11605 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11606 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11609 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11610 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11614 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11615 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11617 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11618 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Other net expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11622 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11623 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6297 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Other financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11626 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(13.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11629 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21891\">(8.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6300 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before exchange gain (losses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11633 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(102.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11634 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(80.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps5134 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11636 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11638 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before adjustments, hyperinflation and put option<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11640 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11641 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(89.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1697\"><div><div class=\"ps485 ss1696\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:112.73pt\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11643 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11644 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial income (expenses) and adjustments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11647 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11648 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(88.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11650 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11652 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11653 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11657 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11658 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11613\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11659 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11661 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11662 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11663 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Net financial income (expenses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11665 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11666 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:181.8pt\">Focusing on the main components for </span><span class=\"f charStyle-58d8bcbe ps21895\" style=\"width:164.32pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21896\" style=\"width:150.09pt\">, interest expenses amounted to</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps6229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:5.56pt\">\u20ac</span><span class=\"f charStyle-58d8bcbe ps7136\" style=\"width:25.01pt\">105.3</span><span class=\"f charStyle-58d8bcbe ps7139\" style=\"width:101.25pt\"> million, compared to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21897\" style=\"width:24.27pt\">110.1</span><span class=\"f charStyle-58d8bcbe ps21898\" style=\"width:85.14pt\"> million reported in </span><span class=\"f charStyle-58d8bcbe ps21899\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21900\" style=\"width:232.7pt\">. This slight decrease primarily reflected the reduced</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps6231 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:435.09pt\">net financial debt outstanding. In relation to interest on bank and term deposits they amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21901\" style=\"width:19.45pt\">16.6</span><span class=\"f charStyle-58d8bcbe ps21902\" style=\"width:31.11pt\"> million</span><span class=\"f charStyle-58d8bcbe ps21903\" style=\"width:10.56pt\"> in</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps6238 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:100.26pt\">2025 compared with \u20ac</span><span class=\"f charStyle-58d8bcbe ps21904\" style=\"width:19.45pt\">38.0</span><span class=\"f charStyle-58d8bcbe ps21905\" style=\"width:31.74pt\"> million</span><span class=\"f charStyle-58d8bcbe ps21906\" style=\"width:344.77pt\"> in 2024. The year\u2011on\u2011year decline primarily reflects the higher average cash</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6239 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:388.31pt\">balances held in early 2024, in advance of the completion of the Courvoisier acquisition.</span><span class=\"f charStyle-58d8bcbe ps21907\" style=\"width:2.77pt\"> </span></div><div class=\"ps2211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The sustainability-linked facilities that contain a variable component of the interest rate applicable depending on</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">the achievement of certain ESG targets identified by Campari Group and particularly focused on the reduction of</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">emissions, as well as the responsible use of water and gender equality, led to an overall reduced interest</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2217 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:236.09pt\">expense of \u20ac0.2 million in 2025 (\u20ac0.2 million in 2024).</span></div><div class=\"ps2218 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The borrowing costs associated with the acquisition of qualified assets amounted to \u20ac0.4 million in 2025 (\u20ac0.2</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps2219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:69.99pt\">million in 2024).</span></div><div class=\"ps2221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:432.33pt\">The change in estimate relating to the earn\u2011out arrangement resulted in a positive impact of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21908\" style=\"width:19.45pt\">49.6</span><span class=\"f charStyle-58d8bcbe ps21909\" style=\"width:44.33pt\"> million in</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:373.66pt\">2025, arising from the remeasurement of the related contingent consideration liability</span><span class=\"f charStyle-58d8bcbe ps21910\" style=\"width:2.77pt\">.</span></div><div class=\"ps2227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:346.65pt\"><span style=\"background-color:inherit\">The breakdown of interest payable to bondholders is shown in the table below.</span></span></div><div class=\"ps6303 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Financial expenses payable to bondholders<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(45.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(40.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Net changes in fair value and other amortised cost components<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Cash flow hedge reserve reported in the statement of profit or loss during the year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Net interest payable on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(55.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(38.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-462": {
   "value": "<div class=\"ps21839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">x.\u00a0  Financial Income and Expenses<span id=\"i7b0f1b10bd0d4bd39f331821165ea732\"></span></span></div><div class=\"ps1536 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps1537 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Financial income and expenses include interest income and expenses in respect of financial instruments and</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:321.78pt\">the results of hedging transactions used to manage interest rate risk. </span><span class=\"f charStyle-2293a859 ps21840\" style=\"width:174.36pt\">Borrowing costs are recognised in the</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">statement of profit or loss income statement based on the effective interest method, except for the qualifying</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:299.06pt\">assets whose borrowing costs are capitalised on the underlying </span><span class=\"f charStyle-2293a859 ps21841\" style=\"width:23.89pt\">asset</span><span class=\"f charStyle-2293a859 ps21842\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-2293a859 ps21843\" style=\"width:170.39pt\"> The remaining financial components</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">include items in respect of post-employment plans, the discount unwind of long-term obligations and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17020 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">hyperinflation charges. The exchange gains or losses are inclusive of derivatives agreement impacts, excluding</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps17842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.27pt\">cash flow hedges that are used to cover the currency risk of highly probable future currency transactions.</span></div><div class=\"ps2267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">For detailed information on the accounting policy for financial instruments, please refer to note 6 i-\u2018Financial</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17843 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.65pt\">instruments\u2019.</span><span class=\"f charStyle-58d8bcbe ps6812\" style=\"width:2.77pt\"> </span></div><div class=\"ps17845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21874 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21845\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps14882\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Put option and earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21853 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21854 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Other expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21855 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21856 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21857 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(120.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21858 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(115.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21859 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21860 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21861 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21862 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21863 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21864 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21865 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21866 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21867 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21868 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11645 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial income<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21869 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">69.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21870 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">37.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11650 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-4b81288d ps132\">Net financial income (expenses) </span><span class=\"f charStyle-263a08f6 ps21871\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21872 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21873 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21876 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:331.92pt\"> Of which adjustments to financial income (expenses) equal to \u20ac0.2 million in 2025 and \u20ac0.5 million in 2024.</span><span class=\"f charStyle-40131897 ps21875\" style=\"width:1.94pt\"> </span></div><div class=\"ps21878 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Net financial income (expenses), which included the effects of earn-out change in estimate, exchange rate</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:282.73pt\">differences and hyperinflation, reported a total net cost of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21879\" style=\"width:19.45pt\">50.7</span><span class=\"f charStyle-58d8bcbe ps21880\" style=\"width:141.01pt\"> million, with a decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21881\" style=\"width:19.45pt\">26.5</span><span class=\"f charStyle-58d8bcbe ps21882\" style=\"width:33.59pt\"> million</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:58.33pt\">compared to </span><span class=\"f charStyle-58d8bcbe ps7814\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps19781\" style=\"width:2.77pt\">.</span></div><div class=\"ps21887 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:313.85pt\">The breakdown by nature of net financial expenses for the period is as </span><span class=\"f charStyle-58d8bcbe ps21886\" style=\"width:30.55pt\">follows</span><span class=\"f charStyle-58d8bcbe ps17024\" style=\"width:2.77pt\">.<span class=\"f ps21\"> </span></span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:296.25pt\"></td><td style=\"padding:0;width:99.75pt\"></td><td style=\"padding:0;width:99.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11591 ss278\"><div><div class=\"ps476 ss277\"><span class=\"f charStyle-183bdf94 ps21889\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11593 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11594 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11596 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4046 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11599 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(55.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4070 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(38.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on loans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11602 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(46.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11603 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(67.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11605 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11606 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11609 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11610 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11614 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11615 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11617 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11618 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Other net expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11622 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11623 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6297 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Other financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11626 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(13.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11629 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21891\">(8.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6300 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before exchange gain (losses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11633 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(102.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11634 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(80.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps5134 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11636 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11638 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before adjustments, hyperinflation and put option<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11640 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11641 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(89.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1697\"><div><div class=\"ps485 ss1696\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:112.73pt\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11643 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11644 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial income (expenses) and adjustments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11647 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11648 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(88.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11650 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11652 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11653 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11657 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11658 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11613\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11659 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11661 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11662 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11663 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Net financial income (expenses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11665 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11666 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:181.8pt\">Focusing on the main components for </span><span class=\"f charStyle-58d8bcbe ps21895\" style=\"width:164.32pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21896\" style=\"width:150.09pt\">, interest expenses amounted to</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps6229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:5.56pt\">\u20ac</span><span class=\"f charStyle-58d8bcbe ps7136\" style=\"width:25.01pt\">105.3</span><span class=\"f charStyle-58d8bcbe ps7139\" style=\"width:101.25pt\"> million, compared to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21897\" style=\"width:24.27pt\">110.1</span><span class=\"f charStyle-58d8bcbe ps21898\" style=\"width:85.14pt\"> million reported in </span><span class=\"f charStyle-58d8bcbe ps21899\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21900\" style=\"width:232.7pt\">. This slight decrease primarily reflected the reduced</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps6231 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:435.09pt\">net financial debt outstanding. In relation to interest on bank and term deposits they amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21901\" style=\"width:19.45pt\">16.6</span><span class=\"f charStyle-58d8bcbe ps21902\" style=\"width:31.11pt\"> million</span><span class=\"f charStyle-58d8bcbe ps21903\" style=\"width:10.56pt\"> in</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps6238 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:100.26pt\">2025 compared with \u20ac</span><span class=\"f charStyle-58d8bcbe ps21904\" style=\"width:19.45pt\">38.0</span><span class=\"f charStyle-58d8bcbe ps21905\" style=\"width:31.74pt\"> million</span><span class=\"f charStyle-58d8bcbe ps21906\" style=\"width:344.77pt\"> in 2024. The year\u2011on\u2011year decline primarily reflects the higher average cash</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6239 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:388.31pt\">balances held in early 2024, in advance of the completion of the Courvoisier acquisition.</span><span class=\"f charStyle-58d8bcbe ps21907\" style=\"width:2.77pt\"> </span></div><div class=\"ps2211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The sustainability-linked facilities that contain a variable component of the interest rate applicable depending on</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">the achievement of certain ESG targets identified by Campari Group and particularly focused on the reduction of</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">emissions, as well as the responsible use of water and gender equality, led to an overall reduced interest</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2217 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:236.09pt\">expense of \u20ac0.2 million in 2025 (\u20ac0.2 million in 2024).</span></div><div class=\"ps2218 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The borrowing costs associated with the acquisition of qualified assets amounted to \u20ac0.4 million in 2025 (\u20ac0.2</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps2219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:69.99pt\">million in 2024).</span></div><div class=\"ps2221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:432.33pt\">The change in estimate relating to the earn\u2011out arrangement resulted in a positive impact of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21908\" style=\"width:19.45pt\">49.6</span><span class=\"f charStyle-58d8bcbe ps21909\" style=\"width:44.33pt\"> million in</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:373.66pt\">2025, arising from the remeasurement of the related contingent consideration liability</span><span class=\"f charStyle-58d8bcbe ps21910\" style=\"width:2.77pt\">.</span></div><div class=\"ps2227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:346.65pt\"><span style=\"background-color:inherit\">The breakdown of interest payable to bondholders is shown in the table below.</span></span></div><div class=\"ps6303 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Financial expenses payable to bondholders<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(45.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(40.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Net changes in fair value and other amortised cost components<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Cash flow hedge reserve reported in the statement of profit or loss during the year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Net interest payable on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(55.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(38.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Other Non-Current Assets<span id=\"i89d0d697133342faa349ccf8ec3f78a4\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps22776 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Equity investment in other companies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">9.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current receivables from controlling shareholder<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">36.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">98.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22777 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Equity investment in other companies included a 15.4% minority stake in Capevin Holdings Proprietary Limited,</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22778 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">a South African holding company which indirectly owns 100% of CVH Spirits Limited, a Scottish company</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps22779 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">operating in the production and commercialisation of renowned Single Malt Whiskies Bunnahabhain, Deanston,</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.59pt\"> </span></div><div class=\"ps22780 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Tobermory and Ledaig, and Blended Whiskies Scottish Leader and Black Bottle.The investment was decreased</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22781 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">by \u20ac59.4 million in connection with performance suffering the macroeconomic momentum, with the result</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22783 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:391.53pt\">recognised in the share of profit (loss) from other investments, in profit or loss statement.</span><span class=\"f charStyle-3adfeb48 ps22782\" style=\"width:16.62pt\">\u00a0 \u00a0 \u00a0 </span></div><div class=\"ps22909 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Trade Receivables\u00a0  <span id=\"i8756726cb7184105af5b89300cbcb9d5\"></span></span></div><div class=\"ps3019 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps22912 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:368.61pt\">For details on the accounting policy, please refer to note 6 i-\u2018Financial instruments\u2019. </span><span class=\"f charStyle-58d8bcbe ps22911\" style=\"width:13.85pt\">\u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div><div class=\"ps22914 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> </span></div><div class=\"ps22916 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps485 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Trade receivables from external customers<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">326.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">425.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Receivables in respect of contributions to promotional costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Trade receivables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">327.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">425.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:101.51pt\"><span style=\"background-color:inherit\">At 31 December 2025</span></span><span class=\"f charStyle-bdf8be45 ps22918\" style=\"width:6.97pt\"><span style=\"background-color:inherit\">, </span></span><span class=\"f charStyle-bdf8be45 ps22919\" style=\"width:81.75pt\"><span style=\"background-color:inherit\">trade receivables </span></span><span class=\"f charStyle-bdf8be45 ps22920\" style=\"width:46.69pt\"><span style=\"background-color:inherit\">decreased</span></span><span class=\"f charStyle-bdf8be45 ps22921\" style=\"width:48.17pt\"><span style=\"background-color:inherit\"> by \u20ac98.7 </span></span><span class=\"f charStyle-bdf8be45 ps22922\" style=\"width:10.55pt\"><span style=\"background-color:inherit\">mi</span></span><span class=\"f charStyle-bdf8be45 ps22923\" style=\"width:24.75pt\"><span style=\"background-color:inherit\">llion, </span></span><span class=\"f charStyle-58d8bcbe ps22924\" style=\"width:175.73pt\">reflecting the ongoing enhancement of</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:186.18pt\">credit collection conditions over the year.</span><span class=\"f charStyle-58d8bcbe ps2376\" style=\"width:310.03pt\"> During 2025, the Group finalised a new non-recourse securitisation</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:47.79pt\">agreement</span><span class=\"f charStyle-58d8bcbe ps22927\" style=\"width:448.33pt\"> aimed at the disposal of trade receivables. This transaction represents another step within the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22929 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">broader strategy to optimise the capital structure and reduce financial leverage. The agreement complements a</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:473.37pt\">number of existing, more localised arrangements, and does not entail any change to the Group\u2019s overall <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps22930\" style=\"width:22.78pt\">trade</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps3500 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:161.41pt\">receivables management strategy. </span><span class=\"f charStyle-58d8bcbe ps22932\" style=\"width:334.75pt\">From an accounting standpoint, and in line with the applicable financial</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">reporting standards, the sold receivables have been derecognised. The transaction is consistent with the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps22934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">Group\u2019s established practices and does not entail any modification in the recognition or measurement criteria</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22936 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:142.21pt\">applied to similar arrangements.</span><span class=\"f charStyle-58d8bcbe ps22935\" style=\"width:2.77pt\"> </span></div><div class=\"ps22942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:64.37pt\">The following </span><span class=\"f charStyle-58d8bcbe ps9742\" style=\"width:21.67pt\">table<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps22938\" style=\"width:314.38pt\"> shows the impairment changes for expected future losses and bad </span><span class=\"f charStyle-58d8bcbe ps22939\" style=\"width:80.5pt\">debt compared to</span><span class=\"f charStyle-58d8bcbe ps22940\" style=\"width:4.13pt\"> </span><span class=\"f charStyle-58d8bcbe ps22941\" style=\"width:11.12pt\">31</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps22943 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2024</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:2.77pt\">.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:320.25pt\"></td><td style=\"padding:0;width:175.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1644\"><div><div class=\"ps485 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">provision for expected future losses and bad debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22946 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22945\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22948 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22947\">(19.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-40131897 ps132\">Accruals</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22950 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22949\">(2.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Utilisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22952 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22951\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Release<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22953 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22951\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22954 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22951\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-40131897 ps132\">at 31 December 2025</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22955 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22947\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22957 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The table below shows the trade receivables, broken down by maturity. In light of the analysis performed on</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22958 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">estimated expected future losses (using the expected credit loss method), trade receivables which are deemed<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22959 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:262.8pt\">not recoverable were balanced by an appropriate provision.</span></div><div class=\"ps22983 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:251.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1746\"><div><div class=\"ps473 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21078 ss668\"><div><div class=\"ps979 ss659\"><span class=\"f charStyle-40131897 ps22961\">trade receivables</span><span class=\"f charStyle-85922b7e ps22962\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22965 ss668\"><div><div class=\"ps1094 ss659\"><span class=\"f charStyle-183bdf94 ps22963\">provision for expected future losses <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss659\"><span class=\"f charStyle-183bdf94 ps22964\">and bad debt</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16021 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22967 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1748\"><div><div class=\"ps485 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Not overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12121 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">245.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6480 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22969\">(5.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16041 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22970\">98.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6498 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(11.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Less than 30 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16050 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">60.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6511 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">30-90 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16060 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">18.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6522 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22973 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">9.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22974 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22975 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22976 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(5.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Due after 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22977 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">1.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22978 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total receivables broken down by maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22979 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">343.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22980 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">Amount impaired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22981 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22971\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22982 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">326.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps22984 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:187.73pt\">This item does not include prepaid expenses for \u20ac1.0 million.<span class=\"f ps21\"> </span></span></div><div class=\"ps22986 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:251.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1746\"><div><div class=\"ps473 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21078 ss668\"><div><div class=\"ps979 ss659\"><span class=\"f charStyle-40131897 ps22961\">trade receivables</span><span class=\"f charStyle-85922b7e ps22962\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22965 ss668\"><div><div class=\"ps1094 ss659\"><span class=\"f charStyle-183bdf94 ps22963\">provision for expected future losses <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss659\"><span class=\"f charStyle-183bdf94 ps22964\">and bad debt</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16021 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22967 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1748\"><div><div class=\"ps485 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Not overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12121 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">333.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6480 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22969\">(6.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16041 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">107.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6498 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Less than 30 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16050 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">60.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6511 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">30-90 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16060 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">29.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6522 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22973 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22974 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22975 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">8.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22976 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(5.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Due after 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22977 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22978 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total receivables broken down by maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22979 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">440.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22980 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(19.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">Amount impaired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22981 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22971\">(19.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22982 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">420.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps22987 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.33pt\">This item does not include prepaid expenses.</span></div><div class=\"ps22993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:171.02pt\">The overdue category decreased to \u20ac</span><span class=\"f charStyle-58d8bcbe ps22989\" style=\"width:19.45pt\">98.2</span><span class=\"f charStyle-58d8bcbe ps22990\" style=\"width:35.83pt\"> million </span><span class=\"f charStyle-58d8bcbe ps22991\" style=\"width:99.06pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22992\" style=\"width:170.87pt\"> and is continuously monitored by the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22995 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:168.69pt\">Group\u2019s credit management functions.</span><span class=\"f charStyle-58d8bcbe ps22994\" style=\"width:2.77pt\"> </span></div><div class=\"ps22999 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:99.29pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22996\" style=\"width:315.47pt\">, the provision for expected future losses and bad debt amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps22997\" style=\"width:19.45pt\">17.4</span><span class=\"f charStyle-58d8bcbe ps22998\" style=\"width:61.92pt\"> million, down</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23004 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:44.98pt\">from the \u20ac</span><span class=\"f charStyle-58d8bcbe ps23000\" style=\"width:19.45pt\">19.9</span><span class=\"f charStyle-58d8bcbe ps23001\" style=\"width:147.75pt\"> million reported at 31 December </span><span class=\"f charStyle-58d8bcbe ps23002\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps23003\" style=\"width:2.77pt\">.</span></div><div class=\"ps23008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:120.13pt\">The following table provid</span><span class=\"f charStyle-58d8bcbe ps23006\" style=\"width:5.56pt\">e</span><span class=\"f charStyle-58d8bcbe ps23007\" style=\"width:370.5pt\">s the probability of default, obtained from external data providers, used for the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps23012 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:301.37pt\">calculation of the expected future losses for each subsidiary, used </span><span class=\"f charStyle-58d8bcbe ps23009\" style=\"width:98.43pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps23010\" style=\"width:23.76pt\"> and </span><span class=\"f charStyle-58d8bcbe ps23011\" style=\"width:72.65pt\">at 31 December</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23014 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps4079\" style=\"width:258.29pt\">, according to the country in which the subsidiary is based.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23013\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:272.25pt\"></td><td style=\"padding:0;width:110.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22082 ss1369\"><div><div class=\"ps2415 ss1368\"><span class=\"f charStyle-183bdf94 ps14722\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Argentina<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22083 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">7.03</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">9.03</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Australia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22085 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.04</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.04</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Austria<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22087 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.07</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Belgium<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22090 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.06</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.06</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Brazil<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22093 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.40</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.35</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Canada<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22095 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.08</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">China<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22096 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.15</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.22</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22098 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.08</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Germany<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22113 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.03</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22803 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.03</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Greece<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22114 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22805 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.11</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">India<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22116 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.09</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23018 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.10</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22118 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23019 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.11</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Jamaica<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22120 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.66</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23020 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.84</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22122 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23021 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.08</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Mexico<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22124 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.27</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23022 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.24</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11650 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">New Zealand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23023 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.04</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23024 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.11</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Peru<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23025 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.23</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23026 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.20</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11659 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Russia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23027 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">4.17</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23028 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">5.59</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11663 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Singapore<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23029 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23030 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.07</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11174 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">South Africa<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23031 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.30</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23032 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.33</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11670 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">South Korea<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23033 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.13</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23034 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.20</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5638 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Spain<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23035 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.06</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23036 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.06</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11177 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Switzerland<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23037 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.03</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23038 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.03</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11178 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">United Kingdom<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23039 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.06</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23040 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.07</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5363 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Ukraine<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23042 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23041\"></span><span class=\"ps23041\">100.00</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23044 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23043\"></span><span class=\"ps23043\">100.00</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11038 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">United States<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23045 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.27</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23046 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.17</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12546 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The tables below set out the information related to the credit risk exposure on the Group\u2019s trade receivables</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps12547 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:107.76pt\">using a provision matrix:</span></div><div class=\"ps23084 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8961 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps23047\">trade receivables days past due<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23048\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23050 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps176\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23049\">30 days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps9493 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23051\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6464 ss1401\"><div><div class=\"ps2776 ss1233\"><span class=\"f charStyle-183bdf94 ps4023\">within 1 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1233\"><span class=\"f charStyle-183bdf94 ps23053\">year</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23056 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23054\">within 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps8429 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23057\">after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23058 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">Total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23059 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16089 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6478 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps15076\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23060 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23061 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23062 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.7%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23064 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.5%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16097 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.4%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6497 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps8248\">0.7%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23065 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.7%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23066 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.2%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23067 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23063\">5.1%</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-40131897 ps132\">Estimated total gross carrying amount at default</span><span class=\"f charStyle-85922b7e ps23068\"><sup> (1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22839 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23069\">245.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23071 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">60.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16104 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">18.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6510 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23072\">9.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23074 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23075 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">1.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23076 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23069\">343.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">provision for expected future losses and bad debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22842 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(5.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23078 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16112 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6521 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23079\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23080 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(5.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23081 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23083 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23082\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23085 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.33pt\">This item does not include prepaid expenses.</span></div><div class=\"ps23087 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8961 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps23047\">trade receivables days past due<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23048\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23050 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps176\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23049\">30 days</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9493 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23051\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">days</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6464 ss1401\"><div><div class=\"ps2776 ss1233\"><span class=\"f charStyle-183bdf94 ps4023\">within 1 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1233\"><span class=\"f charStyle-183bdf94 ps23053\">year</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23056 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23054\">within 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8429 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23057\">after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23058 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">Total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23059 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16089 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6478 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps15076\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23060 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23061 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23062 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.5%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23064 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.4%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16097 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.4%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6497 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps8248\">0.6%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23065 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.3%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23066 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.1%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23067 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-ba8ac8da ps23063\">4.5%</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-40131897 ps132\">Estimated total gross carrying amount at default</span><span class=\"f charStyle-85922b7e ps23068\"><sup> (1)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22839 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23069\">333.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23071 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">60.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16104 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">29.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6510 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23072\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23074 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">8.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23075 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23076 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23069\">440.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">provision for expected future losses and bad debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22842 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(6.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23078 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16112 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6521 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23079\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23080 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(5.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23081 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23083 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23082\">(19.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23089 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.33pt\">This item does not include prepaid expenses.</span><span class=\"f charStyle-40131897 ps23088\" style=\"width:3.88pt\">\u00a0 </span></div><div class=\"ps23091 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The amount of the provision and the level of utilisation over the years confirms that overall the Group is exposed</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps23093 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:374.13pt\">to a cluster of customers and markets that are not significantly affected by credit risk.</span><span class=\"f charStyle-58d8bcbe ps23092\" style=\"width:5.54pt\">\u00a0 <span class=\"f ps21\"> </span></span></div><div class=\"ps23094 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Trade Payables<span id=\"i4fd8e36513544a0496d4992ea6146801\"></span></span></div><div class=\"ps23096 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps23098 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:365.84pt\">For details on the accounting policy, please refer to note 6 i-\u2018Financial instruments\u2019.</span><span class=\"f charStyle-2293a859 ps23097\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23100 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> </span></div><div class=\"ps23102 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Trade payables to external suppliers<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">714.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">672.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Trade payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">714.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">672.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:14.62pt\"><span style=\"background-color:inherit\">Tra</span></span><span class=\"f charStyle-58d8bcbe ps23103\" style=\"width:292.17pt\">de payables showed an increase of \u20ac41.9 million compared to </span><span class=\"f charStyle-58d8bcbe ps23104\" style=\"width:88.12pt\">31 December 2024</span><span class=\"f charStyle-58d8bcbe ps23105\" style=\"width:101.18pt\">, largely driven by the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">business dynamics and thus completely offsetting the positive impact of \u20ac20.1 million (compared to \u20ac17.1 million</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:98.1pt\">at 31 December 2024</span><span class=\"f charStyle-58d8bcbe ps23106\" style=\"width:398.04pt\">) related to the reverse factoring program that the Group continued to participate in, also<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:31.65pt\">during </span><span class=\"f charStyle-58d8bcbe ps23107\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps23108\" style=\"width:442.25pt\">. The program was carried out in cooperation with an external banking provider and selected key</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">suppliers and involved strategic partners based in Italy and in the United States, to allow participating suppliers</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">to receive early payments on their invoices. Based on the program\u2019s characteristics and the nature of the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">transaction, the trade payables in scope continued to be classified as a trade payable on the grounds, which led</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">to an improvement in terms of commercial payment (resulting in a consistent average extension of payment</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">terms to 30 days across both years, as disclosed) without giving any guarantee or change in terms or conditions</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:62.76pt\">of the original </span><span class=\"f charStyle-58d8bcbe ps23109\" style=\"width:52.79pt\">agreements<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23110\" style=\"width:2.77pt\">.</span></div><div class=\"ps15446 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:301.5pt\"></td><td style=\"padding:0;width:194.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1750\"><div><div class=\"ps485 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23112 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23111\">trade payables<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23114 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23113\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">On demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23116 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23115\">179.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">Due within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23117 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23115\">525.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">Due in 1 to 2 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23119 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23118\">6.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1750\"><div><div class=\"ps476 ss1749\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:58.69pt\">Due in 3 to 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23120 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23118\">2.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23121 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-ba8ac8da ps23115\">714.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23123 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:301.5pt\"></td><td style=\"padding:0;width:194.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23112 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23111\">trade payables<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23114 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23113\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">On demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23116 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23115\">105.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps906 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">Due within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps23117 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23115\">565.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">Due in 1 to 2 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23119 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23118\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23120 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-ba8ac8da ps23115\">672.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps23189 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps23190 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:297.73pt\">Financial instruments held by the Group are categorised as follows.</span></div><div class=\"ps23192 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:240.55pt\">Financial assets, including trade and other receivables<span class=\"f ps21\"> </span></span></div><div class=\"ps14661 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets include investments, short-term securities and financial receivables, which, in turn, include the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23193 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">positive fair value of financial derivatives, trade and other receivables and cash and cash equivalents. Trade</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23194 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">receivables arise from contracts with customers and are recognised when performance obligations are satisfied,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23195 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">and the consideration due is unconditional as only the passage of time is required before the payment is</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps23196 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:40.56pt\">received.</span></div><div class=\"ps23197 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">Cash and cash equivalents include cash, bank deposits and highly liquid securities that are readily convertible</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23198 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">into cash and are subject to an insignificant risk of a change in value. Deposits and securities included in this</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23199 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">category mature in less than three months based on the conditions existing on the date of the acquisition of the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23200 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">asset. Current securities include short-term securities or marketable securities that represent a temporary</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23202 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:446.61pt\">investment of cash and do not meet the requirements for classification as cash and cash equivalents.</span><span class=\"f charStyle-2293a859 ps23201\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps23204 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Financial assets are classified and measured based on a business model developed by the Group. The</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23205 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">business model has been defined at a level that reflects the way in which groups of financial assets are</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps23206 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">managed to achieve a particular business objective. The model\u2019s measurement process requires an<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23207 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">assessment based on both quantitative and qualitative factors relating to, for example, the way in which the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23208 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">performance of the financial assets in question is communicated to management with strategic responsibilities<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23209 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:364.96pt\">and the way in which the risks connected with these financial assets are managed.</span></div><div class=\"ps22484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:435.43pt\">The Group measures a financial asset at amortised cost if it meets both of the following conditions:</span></div><div class=\"ps23210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.04pt\">it is held under a business model whose objective is to hold assets aiming to collect contractual cash flows;</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:19.45pt\">and,</span></div><div class=\"ps23212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.94pt\">its contractual terms and conditions are such that the cash flows generated by the asset are attributable</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:281.06pt\">exclusively to payments of the principal and the related interest.</span></div><div class=\"ps23214 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">Financial assets measured at amortised cost are measured at fair value at the time of initial recognition;</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps23215 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">subsequent measurements reflect the repayments made, the effects of applying the effective interest method</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">and any write-downs. Any gain or loss made on derecognition is recognised in profit or loss, together with</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:156.69pt\">foreign exchange gains and losses.</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets also include investments in companies that are not held for trading. These assets are strategic</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">investments, and the Group has decided to recognise changes in the related fair values through profit or loss</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:44.4pt\">(\u2018FVTPL\u2019).</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets represented by debt securities are classified and valued in the statement of financial position</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">based on the business model adopted to manage these financial assets and the financial flows associated with</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">each financial asset. They are measured at fair value through other comprehensive income (\u2018FVOCI\u2019) if all the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:198.3pt\">conditions required by IFRS 9 are respected.</span><span class=\"f charStyle-2293a859 ps23216\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps23217\" style=\"width:11.08pt\">\u00a0 \u00a0 </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:135.52pt\">Impairment of a financial asset</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets are tested for recoverability by applying an impairment model based on the expected credit loss</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:32.76pt\">(\u2018ECL\u2019).</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group applies the simplified method for trade receivables, which considers the probability of default over</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">the financial instrument\u2019s life (lifetime expected credit losses). In making impairment assessments, the Group</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">considers its historical credit loss experience, adjusted for forward-looking factors specific to the nature of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Group\u2019s receivables and economic environment. If any such evidence exists, an impairment loss is recognised</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">under selling, general and administrative expenses. More specifically, non-performing receivables are analysed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">based on the debtor\u2019s creditworthiness and ability to pay the sums due, as well as the degree of effective</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.92pt\">coverage provided by any collateral and personal guarantees in existence.</span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">With regard to trade receivables, two approaches are applied to estimate impairment, based on the specific</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">characteristics of the individual countries in which the Group operates and its constant growth at a global level:</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">one is a matrix-based model and the other applies the probability of default (\u2018PD\u2019) obtained from external</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">sources specialising in the country in which each subsidiary is located. The provision matrix, including the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:331.6pt\">overall actual result of the year, is reported in the relevant disclosure notes.</span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">A financial asset is impaired when internal or external information indicates that it is unlikely that the Group will</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:154.97pt\">receive the full contractual amount.</span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Lastly, with regard to other financial assets measured at amortised cost, and, more specifically, cash and cash</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">equivalents, the impact in terms of expected loss is not considered material and for this reason no adjustment is</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:111.66pt\">made to the book values.</span><span class=\"f charStyle-2293a859 ps5973\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps23218\" style=\"width:72.02pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:238.88pt\">Financial liabilities, including trade and other payables</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Financial liabilities include financial payables, bonds and loans due to banks, which, in turn, include the negative</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">fair value of financial derivatives, trade payables and other payables including contingent consideration and</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:313.32pt\">variable payments deriving from business combinations or asset deals.</span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Financial liabilities are classified and measured at amortised cost, except for financial liabilities that are initially<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">measured at fair value, i.e., derivative instruments, financial liabilities relating to earn-out linked to business</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.29pt\">combinations and financial liabilities for put options over non-controlling interests.</span><span class=\"f charStyle-2293a859 ps23219\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Trade and other payables are initially recognised at fair value including transaction costs and subsequently</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:112.19pt\">carried at amortised cost.</span><span class=\"f charStyle-2293a859 ps3146\" style=\"width:41.55pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Derecognition of financial assets and liabilities</span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:467.52pt\">primarily derecognised (i.e., removed from the Group\u2019s consolidated statement of financial position) when:</span><span class=\"f charStyle-2293a859 ps23220\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:279.37pt\">the rights to receive cash flows from the asset have expired, or,</span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482pt\">the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">the received cash flows in full without material delay to a third party under a \u2018pass-through\u2019 arrangement and</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.99pt\">either (i) the Group has transferred substantially all the risks and rewards of the asset, or (ii) the Group has</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.01pt\">neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:87.19pt\">control of the asset.</span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">When an existing financial liability is replaced by another from the same lender on substantially different terms,</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">derecognition of the original liability and the recognition of a new liability. The difference in the respective</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:283.26pt\">carrying amounts is recognised in the statement of profit or loss.</span><span class=\"f charStyle-2293a859 ps23221\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">For detailed information on the accounting policy for put and call options over joint-ventures agreements, please</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:423.16pt\">refer to note 3 xii-\u2018Share of profit (loss) of joint-ventures and Profit (loss) from other investments\u2019</span><span class=\"f charStyle-2293a859 ps23222\" style=\"width:2.77pt\">.</span></div><div class=\"ps7834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:11.08pt\">\u00a0 \u00a0 </span></div></div><div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:205.01pt\">Financial derivatives and hedging transactions</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Financial derivatives embedded in contracts in which the primary element is a financial asset that falls within the</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">scope of IFRS 9 are not treated separately. The hybrid instrument is instead examined as a whole for</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.85pt\">classification in the statement of financial position and subsequent measurement.</span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Financial derivatives are used exclusively for hedging purposes to reduce exchange and interest rate risk. They</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">are only accounted for by applying the methods established for hedge accounting (fair value hedge or cash flow</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">hedge) if, at the start of the hedging period, the hedging relationship has been designated. It is assumed that the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">hedge is highly effective: this effectiveness must be reliably measured during the accounting periods for which it</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:286.62pt\">is designated. All financial derivatives are measured at fair value.</span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Where financial instruments meet the requirements to be reported using hedge accounting procedures, the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.08pt\">accounting treatment related to fair value hedge or cash flow hedge is applied.<span class=\"f ps21\"> </span></span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">If hedge accounting cannot be applied, any gains or losses resulting from measuring the financial derivative at</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:268.24pt\">its present value are posted to the statement of profit or loss.</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The Group is exposed to certain risks related to its ongoing business operations. The primary risks managed</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:329.93pt\">using derivative instruments are foreign currency risk and interest rate risk.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Derivatives are designated as hedging instruments in the form of i) foreign exchange forward and option</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">contracts, elected as cash flow hedges to hedge highly probable forecast sales and purchases in different</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">currencies compared to \u20ac and, ii) interest-rate swap contracts to mitigate the risk associated with variable</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:378.85pt\">interest rate changes on loan and bond agreements not issued at a fixed interest rate.</span><span class=\"f charStyle-2293a859 ps23223\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The Group also uses derivatives not designated as hedging instruments to reflect the change in fair value of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">foreign exchange rates of forward and option contracts that are not elected in hedge relationships, but are,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:443.86pt\">nevertheless, intended to reduce the level of foreign currency risk for expected sales and purchases.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">For Campari Group, net exposure to foreign exchange effects is limited to highly probable intra-group</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">transactions among Group companies relating to certain sales and purchases, regulated in currencies other</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:19.45pt\">than</span><span class=\"f charStyle-58d8bcbe ps23224\" style=\"width:4.3pt\"> </span><span class=\"f charStyle-2293a859 ps23225\" style=\"width:472.48pt\">the functional currencies of the companies. Although these transactions represent only a portion of the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">overall business, the Group determines the net exposure to the primary currencies (US$, GBP, AUD) based on</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">its predicted intercompany sales and purchases up to 18 months. Moreover, the Group determines the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">existence of an economic relationship between the hedging instrument and hedged item based on the currency,</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">amount and timing of their respective cash flows. The Group\u2019s reference is the budget exposure split by</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">currencies and, as effectively as possible, any under/over exposure which may arise through plain vanilla</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">currency derivatives. The derivative covers the period of exposure from the point the cash flows of the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">transactions forecasted up to the point of settlement of the resulting receivable or payable that is denominated in</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">the foreign currency. Derivative contracts aiming to mitigate currency exchange risks are dynamically and</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">qualitatively managed based on business needs and specific contexts and circumstances. These are not framed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">within fixed or quantitative policies regarding the percentage of coverage to be achieved. To avoid excessive</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">coverage, the budget for future transactions is typically hedged at a level between 50% and 90% throughout the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.45pt\">whole year. In the hedge relationships the main sources of ineffectiveness are:</span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:215.35pt\">interest rate differentials between currencies and</span><span class=\"f charStyle-2293a859 ps23226\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.04pt\">discrepancies between invoices issued and hedging contracts (i.e., changes in the timing of the hedge</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.99pt\">transaction).</span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Regarding derivative contracts intended to hedge interest rate exposures, they are namely connected with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">financing and there is no established quantitative policy concerning the optimal level of exposure to fixed or<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">variable rates: the Group manages its interest rate risk by having a balanced portfolio of fixed and variable rate</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">loans and borrowings. The preferred exposure to fixed or variable rates is dynamically managed centrally within</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">the Group, considering current and future market conditions, the Group's level of indebtedness, business</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">performance and in the context of the Group's expansion initiatives. The Group determines the existence of an</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">economic relationship between the hedging instrument and hedged item based on the reference interest rates,</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">tenors, repricing dates and maturities and the notional or par amount.</span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps20060\" style=\"width:72.02pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:92.79pt\">Financial guarantees</span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">The Group recognises financial guarantees as a financial liability if the likelihood of these guarantees being</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">called is assessed not to be remote and the Group is expected to be liable for any legal obligation in respect of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">these financial guarantee agreements. Financial guarantee contract liabilities are measured initially at their fair</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">value, with subsequent remeasurement impacting profit or loss. They are represented as a long- or short-term</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">financial liability, depending on the time of the expected execution of the guarantees. If the likelihood of these</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">guarantees being called is assessed to be remote, they are treated as commitments with disclosure</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">requirements only. This occurs when they are represented as other forms of security in favour of third parties,</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:361.64pt\">such as customs guarantees for excise duties and guarantees to grant credit lines</span><span class=\"f charStyle-2293a859 ps20057\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-2293a859 ps23227\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps23228\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps23229\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps23230\" style=\"width:49.86pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 </span></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:379.42pt\">The value of individual categories of financial assets and liabilities held by the Group </span><span class=\"f charStyle-58d8bcbe ps22716\" style=\"width:96.96pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps23231\" style=\"width:3.05pt\"> </span><span class=\"f charStyle-58d8bcbe ps23232\" style=\"width:16.68pt\">and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:96.12pt\">at 31 December 2024</span><span class=\"f charStyle-58d8bcbe ps23233\" style=\"width:137.74pt\"> is shown in the following table.</span></div><div class=\"ps8644 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:233.25pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:78pt\"></td></tr><tr style=\"height:16.5pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1754\"><div><div class=\"ps2415 ss1753\"><span class=\"f charStyle-23317bb7 ps132\"><span style=\"background-color:inherit\">at 31 December 2025</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23234 ss1755\"><div><div class=\"ps11743 ss112\"><span class=\"f charStyle-183bdf94 ps16068\">carrying amount<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5024 ss1756\"><div><div class=\"ps2415 ss112\"><span class=\"f charStyle-183bdf94 ps18013\">measurement at <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss112\"><span class=\"f charStyle-183bdf94 ps23235\">amortised cost</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23238 ss1416\"><div><div class=\"ps2415 ss465\"><span class=\"f charStyle-183bdf94 ps23236\">measurement at <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss465\"><span class=\"f charStyle-183bdf94 ps23237\">fair value through </span></div><div class=\"ps2419 ss465\"><span class=\"f charStyle-183bdf94 ps6368\">profit and loss</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8424 ss1757\"><div><div class=\"ps2415 ss498\"><span class=\"f charStyle-183bdf94 ps23239\">measurement at fair <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss498\"><span class=\"f charStyle-183bdf94 ps23240\">value with changes </span></div><div class=\"ps2419 ss498\"><span class=\"f charStyle-183bdf94 ps23241\">recognised in the </span></div><div class=\"ps2420 ss498\"><span class=\"f charStyle-183bdf94 ps23242\">statement of </span></div><div class=\"ps2421 ss498\"><span class=\"f charStyle-183bdf94 ps19580\">comprehensive income</span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23244 ss1758\"><div><div class=\"ps23243 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4232 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Cash and cash equivalents<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23245 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">703.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23246 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">703.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23247 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23248 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4248 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Other current financial assets</span><span class=\"f charStyle-85922b7e ps23249\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23250 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">13.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23251 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">13.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23252 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23253 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4395 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23254 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">21.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23255 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">21.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23256 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23257 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4412 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23258 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(71.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23259 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(71.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23260 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23261 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11863 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Loans due to banks</span><span class=\"f charStyle-85922b7e ps23262\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23263 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(899.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23264 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(899.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23265 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23266 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8706 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Bonds</span><span class=\"f charStyle-85922b7e ps23267\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23269 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps23268\">(1,589.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23270 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps23268\">(1,589.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23271 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23272 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps2982 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Accrued interest on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23273 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(21.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23274 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(21.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23275 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23276 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11881 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Other current financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23277 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(25.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23278 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(25.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23279 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23280 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11887 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Liabilities for put option and earn-out payments</span><span class=\"f charStyle-85922b7e ps23281\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23282 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(89.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23283 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21501\">(3.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps23285 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps23284\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps23287 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps23286\">(86.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps5141 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Non-current and current assets for hedging derivatives</span><span class=\"f charStyle-85922b7e ps23288\"><span class=\"f ps21\"> </span><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23289 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21496\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps5146 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps15308\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23291 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps23290\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23292 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps20711\">1,6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps3367 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-b442976f ps23293\">Current assets for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23295 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps14502\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23297 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23299 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23298\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23301 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps23300\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5601 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-b442976f ps23302\">Current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23303 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps14502\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23304 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23306 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23305\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23307 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps5763\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps8376 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-22ddbc25 ps23308\">Non-current asset for hedging derivatives</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23309 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps14502\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23310 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23311 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23305\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23312 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps5763\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8387 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Non-current and current liabilities for hedging derivatives</span><span class=\"f charStyle-85922b7e ps23313\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23314 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21501\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23315 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps15308\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23316 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps23284\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23318 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps23317\">(1.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps8398 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-b442976f ps3373\">Current liabilities for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23320 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23319\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23321 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23323 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23322\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23324 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps23300\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8409 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-b442976f ps23325\">Current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23326 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23319\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23327 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23328 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23305\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23329 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps22176\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23331 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-b442976f ps23330\">Non-current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23332 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23319\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23333 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23334 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23305\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23335 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps22176\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps2549 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23336 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">36.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23337 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21496\">9.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23338 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps16258\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23339 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps23340 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Trade receivables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23341 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">327.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23342 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">327.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23343 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23344 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5645 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Trade payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23345 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(714.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23346 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(714.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23347 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23348 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9503 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23349 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-ba8ac8da ps23268\">(2,309.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23350 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-ba8ac8da ps23268\">(2,250.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23351 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-ba8ac8da ps16258\">26.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23352 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-ba8ac8da ps23286\">(86.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps5690 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:101.85pt\">Excluding connected derivatives.</span></div><div class=\"ps5691 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:165.61pt\">Excluding derivatives on loans and bond due to bank.</span></div><div class=\"ps5692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:416.95pt\">Liabilities linked to some business combinations may be elected to have the fair value variation accounted for against the Group equity.</span></div><div class=\"ps23353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(4) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:382.9pt\">Non-current and current asset and liabilities for hedging derivatives both reported and not reported under hedge accounting.</span></div><div class=\"ps23425 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:225.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:78.75pt\"></td></tr><tr style=\"height:21.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1761\"><div><div class=\"ps10359 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23355 ss1762\"><div><div class=\"ps17657 ss536\"><span class=\"f charStyle-183bdf94 ps23354\">carrying amount<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23357 ss1415\"><div><div class=\"ps17661 ss304\"><span class=\"f charStyle-183bdf94 ps4116\">measurement at <span class=\"f ps21\"> </span></span></div><div class=\"ps10058 ss304\"><span class=\"f charStyle-183bdf94 ps23356\">amortised cost</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23361 ss1763\"><div><div class=\"ps17667 ss18\"><span class=\"f charStyle-183bdf94 ps23358\">measurement at fair <span class=\"f ps21\"> </span></span></div><div class=\"ps17657 ss18\"><span class=\"f charStyle-183bdf94 ps23359\">value through profit </span></div><div class=\"ps17670 ss18\"><span class=\"f charStyle-183bdf94 ps23360\">and loss</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14160 ss1764\"><div><div class=\"ps23363 ss1166\"><span class=\"f charStyle-183bdf94 ps23362\">measurement at fair <span class=\"f ps21\"> </span></span></div><div class=\"ps23365 ss1166\"><span class=\"f charStyle-183bdf94 ps23364\">value with changes </span></div><div class=\"ps23367 ss1166\"><span class=\"f charStyle-183bdf94 ps23366\">recognised in the </span></div><div class=\"ps23369 ss1166\"><span class=\"f charStyle-183bdf94 ps23368\">statement of </span></div><div class=\"ps23371 ss1166\"><span class=\"f charStyle-183bdf94 ps23370\">comprehensive income</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12908 ss1761\"><div><div class=\"ps10359 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4232 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Cash and cash equivalents<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4239 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">666.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23373 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23372\">666.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4377 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23374 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4248 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Other current financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps4254 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23375\">7.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23376 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">7.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4392 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23377 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4395 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23378 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23375\">7.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23379 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">7.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4407 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23380 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4412 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23381 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps4500\">(77.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23382 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(77.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4421 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14170 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11863 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-40131897 ps132\">Loans due to banks</span><span class=\"f charStyle-85922b7e ps23262\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23383 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2717\">(1,205.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23384 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps20300\">(1,205.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11866 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23385 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8706 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23386 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2717\">(1,580.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23387 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps20300\">(1,580.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11872 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23388 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps2982 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Accrued interest on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23389 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps4500\">(21.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23390 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(21.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11878 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23391 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11881 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Other current financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23393 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23392\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23394 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11884 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23395 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11887 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-40131897 ps132\">Liabilities for put option and earn-out payments</span><span class=\"f charStyle-85922b7e ps23281\"><sup>(2)</sup></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23397 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23396\">(168.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23398 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(3.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11890 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps23399\">(49.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23400 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps6309\">(115.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5141 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23401 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23375\">3.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23402 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11896 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22167\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23404 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps23403\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps3367 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-40131897 ps132\">Non-current assets for hedging derivatives</span><span class=\"f charStyle-85922b7e ps23405\"><span class=\"f ps21\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23406 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23392\">(7.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23407 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11901 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps23408\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23410 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps23409\">(6.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5601 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23412 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">98.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23413 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">8.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11906 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps532\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23414 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8376 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Trade receivables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23415 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">425.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23416 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23372\">425.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11912 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23417 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8387 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Trade payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23418 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23396\">(672.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23420 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23419\">(672.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11918 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23421 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8398 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23422 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-ba8ac8da ps2717\">(2,525.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23423 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps20300\">(2,446.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11923 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-ba8ac8da ps532\">38.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23424 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-ba8ac8da ps20538\">(117.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:138pt\">Excluding derivatives on loans due to banks.</span></div><div class=\"ps23428 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:416.95pt\">Liabilities linked to some business combinations may be elected to have the fair value variation accounted for against the Group equity.</span><span class=\"f charStyle-40131897 ps23427\" style=\"width:1.94pt\"> </span></div><div class=\"ps23429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:237.14pt\">Derivatives on loans due to banks and new pre-hedging contract subscribed.</span></div><div class=\"ps1752 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:6.1pt\">T</span><span class=\"f charStyle-58d8bcbe ps17898\" style=\"width:489.99pt\">he tables below show a breakdown of the foreign exchange contracts on highly probable sales and purchases</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1753 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">and interest-rate swaps on loans. It also includes the effect of hedging derivatives, not in hedge accounting with<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1754 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">fair value variations recognised through the statement of profit or loss. Call and/or put agreements over joint-</span></div><div class=\"ps1755 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:428.85pt\">ventures elected as derivative instruments with negligible fair value variation are disclosed below.</span><span class=\"f charStyle-58d8bcbe ps23430\" style=\"width:2.77pt\"> </span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:178.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:87pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:83.25pt\"></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1766\"><div><div class=\"ps4101 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">foreign exchange forward contracts and options <span class=\"f ps21\"> </span></span></div><div class=\"ps4103 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">(highly probable forecast sales and purchases)<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16006 ss1768\"><div><div class=\"ps485 ss1767\"><span class=\"f charStyle-183bdf94 ps23431\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16007 ss1770\"><div><div class=\"ps485 ss1769\"><span class=\"f charStyle-183bdf94 ps23432\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20441 ss1771\"><div><div class=\"ps485 ss38\"><span class=\"f charStyle-183bdf94 ps23433\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1353\"><div><div class=\"ps979 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23434 ss395\"><div><div class=\"ps2776 ss355\"><span class=\"f charStyle-183bdf94 ps11972\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss355\"><span class=\"f charStyle-183bdf94 ps8083\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4039 ss378\"><div><div class=\"ps979 ss110\"><span class=\"f charStyle-183bdf94 ps23435\">average forward rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4117 ss395\"><div><div class=\"ps2776 ss355\"><span class=\"f charStyle-183bdf94 ps11972\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss355\"><span class=\"f charStyle-183bdf94 ps8083\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23437 ss998\"><div><div class=\"ps979 ss288\"><span class=\"f charStyle-183bdf94 ps23436\">average forward rate<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23438 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18668\">87.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23440 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">1.15<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23441 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18660\">187.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23443 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">1.08<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Russian Ruble<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23444 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18668\">10.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23446 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23445\">92.88<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23448 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23447\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23449 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps20534\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Australian Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23451 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">5.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23452 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">1.78<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23453 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18668\">38.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23454 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">1.67<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Swiss Franc<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23455 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23456 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">0.93<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23457 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">2.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps5090 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">0.93<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Singapore Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23458 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23447\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23460 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23459\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23461 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23462 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">1.43<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Sterling Pound<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23463 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23464 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">0.89<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23465 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23466 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">0.84<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Canadian Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23468 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23467\">(2.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23469 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">1.63<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23470 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23447\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23471 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps20534\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23472 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-ba8ac8da ps18660\">105.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23473 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-ba8ac8da ps18660\">239.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps23500 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:154.5pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:63.75pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td><td style=\"padding:0;width:57pt\"></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1772\"><div><div class=\"ps2415 ss901\"><span class=\"f charStyle-183bdf94 ps132\">nature of hedged items and related derivatives <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss901\"><span class=\"f charStyle-183bdf94 ps132\">forward</span></div></div></div></td><td colspan=\"6\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23475 ss1774\"><div><div class=\"ps476 ss1773\"><span class=\"f charStyle-183bdf94 ps606\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4096 ss450\"><div><div class=\"ps476 ss449\"><span class=\"f charStyle-183bdf94 ps23476\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23477 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps15233\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1775\"><div><div class=\"ps2579 ss901\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4109 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">notional <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18576\">amount </span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23479\">hedge items</span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23482 ss1520\"><div><div class=\"ps2578 ss172\"><span class=\"f charStyle-183bdf94 ps23480\">carrying amounts <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss172\"><span class=\"f charStyle-183bdf94 ps23481\">hedging </span></div><div class=\"ps2580 ss172\"><span class=\"f charStyle-183bdf94 ps14872\">instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14896 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23483\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18065\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">(losses)</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23485 ss1405\"><div><div class=\"ps5026 ss304\"><span class=\"f charStyle-183bdf94 ps23484\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss304\"><span class=\"f charStyle-183bdf94 ps5477\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23488 ss292\"><div><div class=\"ps2578 ss197\"><span class=\"f charStyle-183bdf94 ps23486\">carrying amounts <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps4036\">hedging </span></div><div class=\"ps2580 ss197\"><span class=\"f charStyle-183bdf94 ps23487\">instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14898 ss291\"><div><div class=\"ps2578 ss290\"><span class=\"f charStyle-183bdf94 ps23489\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss290\"><span class=\"f charStyle-183bdf94 ps4147\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss290\"><span class=\"f charStyle-183bdf94 ps23490\">(losses)</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5727 ss1775\"><div><div class=\"ps2578 ss901\"><span class=\"f charStyle-183bdf94 ps132\">foreign exchange forward contracts and options<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss901\"><span class=\"f charStyle-183bdf94 ps132\">(highly probable forecast sales and purchases) <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss901\"><span class=\"f charStyle-183bdf94 ps132\">fair value and cash flow hedge</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23491 ss1461\"><div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18458\">105.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23493 ss1520\"><div><div class=\"ps2579 ss172\"><span class=\"f charStyle-183bdf94 ps23492\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20575 ss1461\"><div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps23494\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23496 ss1405\"><div><div class=\"ps2579 ss304\"><span class=\"f charStyle-183bdf94 ps23495\">239.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23497 ss292\"><div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps14465\">(6.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23499 ss291\"><div><div class=\"ps2579 ss290\"><span class=\"f charStyle-183bdf94 ps23498\">(5.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23508 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:154.5pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:63.75pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td><td style=\"padding:0;width:57pt\"></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1772\"><div><div class=\"ps23502 ss901\"><span class=\"f charStyle-183bdf94 ps132\">nature hedged items <span class=\"f ps21\"> </span></span></div><div class=\"ps23503 ss901\"><span class=\"f charStyle-183bdf94 ps132\">and related derivatives interest rate swaps<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23475 ss1774\"><div><div class=\"ps476 ss1773\"><span class=\"f charStyle-183bdf94 ps606\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4096 ss450\"><div><div class=\"ps476 ss449\"><span class=\"f charStyle-183bdf94 ps23476\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23477 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps15233\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1775\"><div><div class=\"ps2579 ss901\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4109 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">notional <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18576\">amount </span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23479\">hedge items</span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23482 ss1520\"><div><div class=\"ps2578 ss172\"><span class=\"f charStyle-40131897 ps23480\">carrying amounts </span></div><div class=\"ps2579 ss172\"><span class=\"f charStyle-40131897 ps23481\">hedging <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss172\"><span class=\"f charStyle-40131897 ps23504\">instruments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-85922b7e ps23505\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14896 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23483\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18065\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">(losses)</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23485 ss1405\"><div><div class=\"ps5026 ss304\"><span class=\"f charStyle-183bdf94 ps23484\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss304\"><span class=\"f charStyle-183bdf94 ps5477\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23488 ss292\"><div><div class=\"ps2578 ss197\"><span class=\"f charStyle-183bdf94 ps23486\">carrying amounts <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps4036\">hedging </span></div><div class=\"ps2580 ss197\"><span class=\"f charStyle-183bdf94 ps23487\">instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14898 ss291\"><div><div class=\"ps2578 ss290\"><span class=\"f charStyle-183bdf94 ps23489\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss290\"><span class=\"f charStyle-183bdf94 ps4147\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss290\"><span class=\"f charStyle-183bdf94 ps23490\">(losses)</span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5727 ss1776\"><div><div class=\"ps2776 ss901\"><span class=\"f charStyle-183bdf94 ps132\">interest rate swap contracts on loans financial <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss901\"><span class=\"f charStyle-183bdf94 ps132\">statements impact</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23491 ss1561\"><div><div class=\"ps979 ss358\"><span class=\"f charStyle-183bdf94 ps18458\">848.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23493 ss420\"><div><div class=\"ps979 ss172\"><span class=\"f charStyle-183bdf94 ps23506\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20575 ss1561\"><div><div class=\"ps979 ss358\"><span class=\"f charStyle-183bdf94 ps23494\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23496 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps23495\">963.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23497 ss233\"><div><div class=\"ps979 ss197\"><span class=\"f charStyle-183bdf94 ps23507\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23499 ss1777\"><div><div class=\"ps979 ss290\"><span class=\"f charStyle-183bdf94 ps1037\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23509 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:363.7pt\">The carrying value is included in the line \u2018Loans due to banks\u2019 in the financial instruments\u2019 recap table reported above.<span class=\"f ps21\"> </span></span></div><div class=\"ps23186 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">In connection with the establishment of the joint-venture in Spiritus Co Ltd., commitments to increase the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23510 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">ownership in the company existed in the form of put and/or call options elected as derivative financial</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23511 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">instruments measured at fair value with impact in the Campari Group statement of profit or loss. The fair value</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps23512 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">of these options, whose measurement was contingent upon the performance of the company, was considered</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps23515 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:434.19pt\">negligible and therefore was never recognised in the Campari Group\u2019s financial statements. In </span><span class=\"f charStyle-58d8bcbe ps23513\" style=\"width:44.07pt\">July 2025</span><span class=\"f charStyle-58d8bcbe ps23514\" style=\"width:17.94pt\"> the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23516 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">Group resolved to exercise the put options. Consequently, the derivatives position was reclassified into an in-</span></div><div class=\"ps19365 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">flow transaction, enabling the Group to exit the investment (refer to note 3 xii 'Share of Profit (Loss) of Joint-</span></div><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:224.6pt\">Ventures and Profit (loss) from other investments').</span><div class=\"ps23519 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Cash and Cash Equivalents<span id=\"i08eea0db70054118bae92bda3ebe32a6\"></span></span></div><div class=\"ps23195 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps23197 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:314.23pt\">The breakdown of the Group\u2019s cash and cash equivalents is as follows.</span></div><div class=\"ps23521 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12075 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps22060\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23520 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps2413\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12076 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1779\"><div><div class=\"ps476 ss1778\"><span class=\"f charStyle-183bdf94 ps132\">Bank current accounts and cash<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12082 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">585.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21548\">647.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1779\"><div><div class=\"ps476 ss1778\"><span class=\"f charStyle-183bdf94 ps132\">Term deposit maturing within 3 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12087 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps21533\">118.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">18.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1779\"><div><div class=\"ps476 ss1778\"><span class=\"f charStyle-ba8ac8da ps132\">Cash and cash equivalents<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12091 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">703.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21548\">666.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23528 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:208.81pt\">Cash and cash equivalents increased from \u20ac</span><span class=\"f charStyle-58d8bcbe ps23523\" style=\"width:25.01pt\">666.3</span><span class=\"f charStyle-58d8bcbe ps23524\" style=\"width:56.32pt\"> million to \u20ac</span><span class=\"f charStyle-58d8bcbe ps23525\" style=\"width:25.01pt\">703.3</span><span class=\"f charStyle-58d8bcbe ps23526\" style=\"width:35.8pt\"> million.</span><span class=\"f charStyle-58d8bcbe ps23527\" style=\"width:145.28pt\"> The change in the period was</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps17162 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">mainly driven by cash inflow from the disposal of the Cinzano vermouth business and the bottling facility in</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.22pt\"> </span></div><div class=\"ps17326 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">Australia for a total of \u20ac101.1 million (refer to \u2018Significant Events of the Period\u2019) and the strong cash generation,</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17327 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">boosted by the ongoing improvement in credit collection conditions throughout the year, partially offset by capital</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23529 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">expenditure initiatives (\u20ac269.6 million), dividend payment (\u20ac78.0 million), purchase of own shares (\u20ac33.6 million)</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23531 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:196.15pt\">as well as income taxes paid (\u20ac42.2 million).</span><span class=\"f charStyle-58d8bcbe ps23530\" style=\"width:300.07pt\"> The ongoing implementation of the restructuring plan announced in</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23532 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">late 2024 continued to affect movements in available liquidity, resulting in a cash outflow of \u20ac79.9 million for</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps23533 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">employee termination benefits. This amount also included personnel\u2011related payments to the Chief Financial</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps23534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">and Operating Officer, Paolo Marchesini, the majority of which arose in 2025 and had therefore not been</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps23535 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">accrued in 2024, following the consensual termination of his Chief Financial and Operating Officer duties and in</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps23536 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">line with the remuneration policy and existing agreements. Of the total cash outflow, \u20ac54.4 million related</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23537 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:311.63pt\">specifically to the execution of the above mentioned restructuring plan.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">Cash position is supported by significant credit lines available to the Group. Of these, \u20ac400.0 million are<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:174.12pt\">committed until 2029 (undrawn as of </span><span class=\"f charStyle-58d8bcbe ps23538\" style=\"width:88.44pt\">31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23539\" style=\"width:233.61pt\">) and \u20ac451.5 million are uncommitted (with \u20ac109.7<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:98.87pt\">million drawn down at <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23540\" style=\"width:85.02pt\">31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23541\" style=\"width:6.1pt\">).</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">For additional details, reference is made to cash flow information and the net financial debt (note 6</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:311.01pt\">viii-\u2019Reconciliation with Net Financial Debt and Cash Flow Statement\u2019).</span></div><div class=\"ps23542 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Other Current Financial Assets<span id=\"iad28087890ac4f7380eec18530b659c2\"></span></span></div><div class=\"ps1479 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> </span></div><div class=\"ps23547 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5024 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps22060\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22061 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps22060\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6072 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6073 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6075 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6076 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:12pt\"><td style=\"padding:0\"><div class=\"ps906 ss1780\"><div><div class=\"ps13029 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedging derivatives not reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6078 ss1781\"><div><div class=\"ps13029 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6080 ss1781\"><div><div class=\"ps13029 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14981 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Other financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23543 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">13.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23544 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">7.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5064 ss340\"><div><div class=\"ps2776 ss336\"><span class=\"f charStyle-d669f8f1 ps132\">Of which:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3337 ss340\"><div><div class=\"ps2776 ss336\"><span class=\"f charStyle-d669f8f1 ps132\">Marketable securities maturing more than 3 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21524 ss339\"><div><div class=\"ps2776 ss338\"><span class=\"f charStyle-d669f8f1 ps6081\">10.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21525 ss339\"><div><div class=\"ps2776 ss338\"><span class=\"f charStyle-d669f8f1 ps4314\">7.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5743 ss340\"><div><div class=\"ps2776 ss336\"><span class=\"f charStyle-d669f8f1 ps132\">Other financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21527 ss339\"><div><div class=\"ps2776 ss338\"><span class=\"f charStyle-d669f8f1 ps4314\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21528 ss339\"><div><div class=\"ps2776 ss338\"><span class=\"f charStyle-d669f8f1 ps4314\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5244 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Other current financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23545 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-ba8ac8da ps6081\">15.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23546 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-ba8ac8da ps4314\">8.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23548 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Other Non-Current Financial Assets<span id=\"i284c09f6ef8b47808982f2b19a06cb10\"></span></span></div><div class=\"ps2048 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> </span></div><div class=\"ps23551 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5024 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps22060\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22061 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps22060\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6072 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6073 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Non-current restricted bank accounts<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6075 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">20.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6076 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">5.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-40131897 ps132\">Non-current assets for hedging derivatives reported using hedge accounting </span><span class=\"f charStyle-85922b7e ps23550\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6078 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps21763\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6080 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">2.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6082 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6083 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">2.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Non-current financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6085 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-ba8ac8da ps6081\">21.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6087 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-ba8ac8da ps6081\">10.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23552 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d50bdf44 ps579\" style=\"width:5.55pt\"><span style=\"background-color:inherit\">(1)</span><sup></sup></span><span class=\"f charStyle-0bdf54e2 ps1167\" style=\"width:190.45pt\"><span style=\"background-color:inherit\"> Derivatives were classified with the connected hedged items.</span></span></div><div class=\"ps3013 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">The restricted bank account is supporting the new non-recourse securitisation agreement finalised in 2025 to</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23555 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:373.11pt\">optimise the capital structure and reduce financial leverage (refer to note 5. i 'Trade r</span><span class=\"f charStyle-58d8bcbe ps23554\" style=\"width:55.24pt\">eceivables').</span></div><div class=\"ps23556 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Non-Current Financial Debt<span id=\"ie3c881f528ae489cbb051317e709abc7\"></span></span></div><div class=\"ps13787 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> </span></div><div class=\"ps23578 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:102pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps23571\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23572\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps15089 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7288 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">548.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23574 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">548.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21846 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">299.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23575 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">298.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">742.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23576 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">733.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:241.39pt\">Non-current liabilities for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21851 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21647\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23577 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23561\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Non-current bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21852 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps23557\">1,590.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23558 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps21315\">1,580.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:61.05pt\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21853 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">627.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23559 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">916.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:235.2pt\">Non-current assets for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21855 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps23560\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23562 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23561\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6293 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:241.39pt\">Non-current liabilities for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21857 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21647\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23563 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23561\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6297 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:65.65pt\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21859 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">627.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23564 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">916.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21861 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">52.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23565 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">58.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps5134 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Liabilities for put option and earn-out payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21863 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23566 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">164.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:241.39pt\">Non-current liabilities for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21865 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23568 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Other non-current financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21867 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">138.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23569 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">223.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total non-current financial debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21869 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps23557\">2,356.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23570 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps21315\">2,720.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11444 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">The main financial liabilities and the main changes that occurred in the composition of financial liabilities during</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps11446 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:102.75pt\">the year are as follows.</span></div><div class=\"ps23581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:31.16pt\">Bonds<span id=\"ia92728a23ff440a58a2e6296117620da\"></span></span><span class=\"f charStyle-562c451e ps23580\" style=\"width:3.05pt\"> </span></div><div class=\"ps23583 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:98.93pt\">At 31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23582\" style=\"width:397.18pt\">, the Bonds item included the following issues placed by the Parent Company, which are</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23584 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:90pt\">fully \u20ac-denominated.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:187.5pt\"></td><td style=\"padding:0;width:102.75pt\"></td><td style=\"padding:0;width:102.75pt\"></td><td style=\"padding:0;width:102.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7930 ss1783\"><div><div class=\"ps476 ss1782\"><span class=\"f charStyle-183bdf94 ps23585\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22183 ss1785\"><div><div class=\"ps2415 ss1784\"><span class=\"f charStyle-183bdf94 ps6353\">original nominal value<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23587 ss1786\"><div><div class=\"ps2415 ss1784\"><span class=\"f charStyle-183bdf94 ps23586\">maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7282 ss1786\"><div><div class=\"ps2415 ss1784\"><span class=\"f charStyle-183bdf94 ps23588\">coupon rate fixed<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22192 ss1785\"><div><div class=\"ps2415 ss1784\"><span class=\"f charStyle-183bdf94 ps23589\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23590 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps15281\">550.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23592 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps23591\">6/10/2027<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23595 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23593\"></span><span class=\"ps23593\">1.250<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps23594\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16509 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps15281\">300.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23596 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps23591\">18/5/2030<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23597 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23593\"></span><span class=\"ps23593\">4.710<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps23594\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps7973 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps15281\">550.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23598 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps23591\">17/1/2029<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23599 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23593\"></span><span class=\"ps23593\">2.375<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps23594\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-40131897 ps132\">Bond issued in 2024</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16541 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps15281\">220.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23600 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps23591\">25/6/2031<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23601 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23593\"></span><span class=\"ps23593\">4.256<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps23594\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22957 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:20.53pt\"><span style=\"background-color:inherit\">The </span></span><span class=\"f charStyle-58d8bcbe ps23602\" style=\"width:134.39pt\">changes that occurred during </span><span class=\"f charStyle-58d8bcbe ps23603\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps23604\" style=\"width:318.99pt\"> were mainly related to the effects of the amortised cost on non-current</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22958 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:30.01pt\">bonds </span><span class=\"f charStyle-58d8bcbe ps2309\" style=\"width:59.98pt\">(\u20ac9.4 million).</span></div><div class=\"ps22960 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">With reference to the senior unsecured bonds issued in 2024 that are convertible into new and/or existing</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps15150 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">ordinary shares of Davide Campari-Milano N.V. due in 2029, the carrying amount of the host liability is</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23605 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:95.55pt\">composed as follows.</span></div><div class=\"ps23619 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:444pt\"></td><td style=\"padding:0;width:51.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23608 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94 ps23607\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-183bdf94 ps132\">Proceeds for issue of convertible bond<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23609 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94 ps12899\">550.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-183bdf94 ps132\">Transaction costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23611 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:33.99pt\"></span></span><span class=\"ps23610\">(5.8)</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-4b81288d ps132\">Net proceeds in 2024</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23612 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-ba8ac8da ps12899\">544.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-183bdf94 ps132\">Conversion options classified as equity net of transaction costs of \u20ac0.4 million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23614 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:30.1pt\"></span></span><span class=\"ps23613\">(37.2)</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-183bdf94 ps132\">Amortising cost for the year 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23615 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94 ps16519\">7.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-ba8ac8da ps132\">Carrying amount of host liability at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23616 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-ba8ac8da ps12899\">514.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-40131897 ps132\">Amortising cost for the year 2025</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23617 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94 ps16519\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-4b81288d ps132\">Carrying amount of host liability at 31 December 2025</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23618 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-ba8ac8da ps12899\">522.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps14457 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The conversion option was classified as an equity component since the conversion and will result in a fixed</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23620 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">number of notes, that is the outstanding principal amount of the notes, exchanged for a fixed number of ordinary</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps3008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">shares (i.e., since the \u2018fixed-for-fixed\u2019 requirement for the relevant accounting principle was met). The</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17870 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">aforementioned equity component was estimated as the difference between the fair value of the convertible</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17871 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:288.11pt\">bond as a whole and the fair value of the liability component only.</span><span class=\"f charStyle-58d8bcbe ps23621\" style=\"width:2.77pt\"> </span></div><div class=\"ps23624 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:161.86pt\">Liabilities and loans due to banks<span id=\"i3ce7d0abaf2b455f95efb4a4a7c67057\"></span></span><span class=\"f charStyle-562c451e ps23623\" style=\"width:3.05pt\"> </span></div><div class=\"ps1310 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:366.08pt\">This item includes \u20ac-denominated loans entered into with leading banks as follows.<span class=\"f ps21\"> </span></span></div><div class=\"ps23686 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:96pt\"></td><td style=\"padding:0;width:42pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:36pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:157.5pt\"></td><td style=\"padding:0;width:63pt\"></td></tr><tr style=\"height:16.5pt\"><td rowspan=\"3\" style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1789\"><div><div class=\"ps14748 ss1669\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23628 ss365\"><div><div class=\"ps2415 ss271\"><span class=\"f charStyle-183bdf94 ps23625\">original <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss271\"><span class=\"f charStyle-183bdf94 ps23626\">nominal </span></div><div class=\"ps2419 ss271\"><span class=\"f charStyle-183bdf94 ps23627\">value</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23630 ss1790\"><div><div class=\"ps23629 ss288\"><span class=\"f charStyle-183bdf94 ps18013\">residual nominal value<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23632 ss1791\"><div><div class=\"ps14748 ss433\"><span class=\"f charStyle-183bdf94 ps23631\">maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6832 ss1792\"><div><div class=\"ps14748 ss833\"><span class=\"f charStyle-183bdf94 ps1078\">interest rate<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21058 ss1793\"><div><div class=\"ps9449 ss301\"><span class=\"f charStyle-183bdf94 ps11808\">nominal rate at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps9450 ss301\"><span class=\"f charStyle-183bdf94 ps5203\">December 2025<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23634 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps23633\">non-current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23637 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-40131897 ps23635\">current</span><span class=\"f charStyle-85922b7e ps23636\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23638 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps4341\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23640 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps23639\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23641 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-183bdf94 ps19697\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps2968 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps132\">Loan 2021<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23643 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps23642\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23644 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23645 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-183bdf94 ps19695\">100.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23647 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps23646\">30/6/2026<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23649 ss834\"><div><div class=\"ps476 ss833\"><span class=\"f charStyle-183bdf94 ps23648\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21066 ss1794\"><div><div class=\"ps476 ss301\"><span class=\"f charStyle-183bdf94\"><span class=\"ps8816\"></span><span class=\"ps8816\">1.325</span><span class=\"ps23650\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5727 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-40131897 ps132\">Term Loan US 2022</span><span class=\"f charStyle-85922b7e ps23651\"><span class=\"f ps21\"> </span><sup>(2)(6)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23652 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps23642\">357.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23653 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps20562\">166.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23654 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-183bdf94 ps19698\">29.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23655 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps23646\">6/12/2027<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23658 ss834\"><div><div class=\"ps476 ss833\"><span class=\"f charStyle-40131897 ps8949\">floating interest rate linked to Sofr</span><span class=\"f charStyle-85922b7e ps23656\"><span class=\"f ps21\"> </span><sup>(4)</sup></span><span class=\"f charStyle-40131897 ps23657\"> plus spread</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21071 ss1794\"><div><div class=\"ps476 ss301\"><span class=\"f charStyle-183bdf94\"><span class=\"ps8816\"></span><span class=\"ps8816\">5.355</span><span class=\"ps23650\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5196 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-40131897 ps132\">Loan 2023</span><span class=\"f charStyle-85922b7e ps23659\"><sup>(2) (3)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23660 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps23631\">50.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23661 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23662 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-183bdf94 ps19700\">4.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23663 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps23646\">31/3/2026<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23664 ss834\"><div><div class=\"ps476 ss833\"><span class=\"f charStyle-183bdf94 ps23648\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21075 ss1794\"><div><div class=\"ps476 ss301\"><span class=\"f charStyle-183bdf94\"><span class=\"ps8816\"></span><span class=\"ps8816\">3.047</span><span class=\"ps23650\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps924 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-40131897 ps132\">Term Loan 2023</span><span class=\"f charStyle-85922b7e ps23665\"><sup>(2) (3) (5) (6)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23666 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps23642\">400.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23667 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps20562\">328.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23668 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-183bdf94 ps19698\">35.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23669 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps23646\">30/6/2029<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23670 ss834\"><div><div class=\"ps476 ss833\"><span class=\"f charStyle-183bdf94 ps23648\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23671 ss1794\"><div><div class=\"ps476 ss301\"><span class=\"f charStyle-183bdf94\"><span class=\"ps8816\"></span><span class=\"ps8816\">3.469</span><span class=\"ps23650\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps928 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps132\">Loan 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23672 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps23642\">125.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23673 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps20562\">124.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23674 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-183bdf94 ps19699\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23675 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps8974\">07/11/29<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23676 ss834\"><div><div class=\"ps476 ss833\"><span class=\"f charStyle-183bdf94 ps23648\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23677 ss1794\"><div><div class=\"ps476 ss301\"><span class=\"f charStyle-183bdf94\"><span class=\"ps8816\"></span><span class=\"ps8816\">3.319</span><span class=\"ps23650\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6443 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-40131897 ps132\">Other Group company loans</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23679 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps23678\">111.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23681 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps23680\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23682 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-183bdf94 ps19695\">102.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23683 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-40131897 ps17672\">multiple</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23684 ss834\"><div><div class=\"ps476 ss833\"><span class=\"f charStyle-40131897 ps20615\">variable rate</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23685 ss1794\"><div><div class=\"ps485 ss301\"><span class=\"f charStyle-183bdf94\"><span class=\"ps8816\"></span><span class=\"ps8816\">4.634</span><span class=\"ps23650\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:219.19pt\">The current portion is classified in current liabilities-loans due to banks.</span><span class=\"f charStyle-40131897 ps23687\" style=\"width:1.94pt\"> </span></div><div class=\"ps23689 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:306.15pt\">Variable interest rate component linked to business performance (Debt/EBITDA adjusted indicator).</span></div><div class=\"ps23690 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:243.57pt\">Variable interest rate component applicable and related to certain ESG targets.<span class=\"f ps21\"> </span></span></div><div class=\"ps23691 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(4) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:131.3pt\">Secured Overnight Financing Rate ('Sofr').<span class=\"f ps21\"> </span></span></div><div class=\"ps23692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(5)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.54pt\"> The loan was accompanied by a revolving credit facility for the same amount, hence an agreement for a total amount equal up to \u20ac800 million with a pool of</span><span class=\"f charStyle-40131897 ps372\" style=\"width:1.94pt\"> </span></div><div class=\"ps23693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:219.1pt\">banks. The revolving credit facility was not used at 31 December 2025.</span></div><div class=\"ps23694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(6) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:87.07pt\">Included related derivatives.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:41.25pt\"></td><td style=\"padding:0;width:161.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1795\"><div><div class=\"ps10076 ss338\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15573 ss1796\"><div><div class=\"ps4101 ss1397\"><span class=\"f charStyle-183bdf94 ps23695\">original <span class=\"f ps21\"> </span></span></div><div class=\"ps4103 ss1397\"><span class=\"f charStyle-183bdf94 ps23696\">nominal value</span></div></div></div></td><td colspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11951 ss1406\"><div><div class=\"ps476 ss1403\"><span class=\"f charStyle-183bdf94 ps5175\">residual nominal value<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23698 ss1797\"><div><div class=\"ps10076 ss214\"><span class=\"f charStyle-183bdf94 ps23697\">maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22082 ss1799\"><div><div class=\"ps10076 ss1798\"><span class=\"f charStyle-183bdf94 ps21397\">interest rate<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21081 ss1800\"><div><div class=\"ps10103 ss197\"><span class=\"f charStyle-183bdf94 ps11770\">nominal rate at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps10104 ss197\"><span class=\"f charStyle-183bdf94 ps8959\">December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps23699 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps14883\">non-current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23702 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-40131897 ps23700\">current</span><span class=\"f charStyle-85922b7e ps23701\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23704 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps23703\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23705 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps15076\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23707 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps23706\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:12pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1781\"><div><div class=\"ps13029 ss338\"><span class=\"f charStyle-183bdf94 ps132\">Loan 2021<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23708 ss1801\"><div><div class=\"ps13029 ss1397\"><span class=\"f charStyle-183bdf94 ps20436\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23710 ss1802\"><div><div class=\"ps13029 ss1233\"><span class=\"f charStyle-183bdf94 ps23709\">101.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23711 ss1803\"><div><div class=\"ps13029 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23712 ss1804\"><div><div class=\"ps13029 ss214\"><span class=\"f charStyle-183bdf94 ps12106\">30/06/26<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22087 ss1805\"><div><div class=\"ps13029 ss1798\"><span class=\"f charStyle-183bdf94 ps23713\">fixed rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4140 ss1806\"><div><div class=\"ps13029 ss197\"><span class=\"f charStyle-183bdf94 ps23714\">1.325%</span></div></div></div></td></tr><tr style=\"height:12pt\"><td style=\"padding:0\"><div class=\"ps14981 ss1781\"><div><div class=\"ps13029 ss338\"><span class=\"f charStyle-183bdf94 ps132\">Loan 2022<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23716 ss1801\"><div><div class=\"ps13029 ss1397\"><span class=\"f charStyle-183bdf94 ps23715\">50.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23718 ss1802\"><div><div class=\"ps13029 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23720 ss1803\"><div><div class=\"ps13029 ss179\"><span class=\"f charStyle-183bdf94 ps23719\">50.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23721 ss1804\"><div><div class=\"ps13029 ss214\"><span class=\"f charStyle-183bdf94 ps12106\">10/10/25<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23723 ss1805\"><div><div class=\"ps13029 ss1798\"><span class=\"f charStyle-183bdf94 ps23722\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23724 ss1806\"><div><div class=\"ps13029 ss197\"><span class=\"f charStyle-183bdf94 ps23714\">3.740%</span></div></div></div></td></tr><tr style=\"height:12pt\"><td style=\"padding:0\"><div class=\"ps23725 ss1781\"><div><div class=\"ps13029 ss338\"><span class=\"f charStyle-40131897 ps132\">Term Loan US 2022</span><span class=\"f charStyle-85922b7e ps23651\"><sup>(2)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23726 ss1801\"><div><div class=\"ps13029 ss1397\"><span class=\"f charStyle-183bdf94 ps20436\">404.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23727 ss1802\"><div><div class=\"ps13029 ss1233\"><span class=\"f charStyle-183bdf94 ps23709\">321.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23728 ss1803\"><div><div class=\"ps13029 ss179\"><span class=\"f charStyle-183bdf94 ps23719\">28.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23729 ss1804\"><div><div class=\"ps13029 ss214\"><span class=\"f charStyle-183bdf94 ps12106\">06/12/27<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23733 ss1805\"><div><div class=\"ps13029 ss1798\"><span class=\"f charStyle-40131897 ps23730\">floating interest rate linked to Sofr</span><span class=\"f charStyle-85922b7e ps23731\"><sup>(4)</sup></span><span class=\"f charStyle-40131897 ps23732\"> plus spread</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23734 ss1806\"><div><div class=\"ps13029 ss197\"><span class=\"f charStyle-183bdf94 ps23714\">6.167%</span></div></div></div></td></tr><tr style=\"height:12pt\"><td style=\"padding:0\"><div class=\"ps5738 ss1781\"><div><div class=\"ps13029 ss338\"><span class=\"f charStyle-40131897 ps132\">Loan 2023</span><span class=\"f charStyle-85922b7e ps23659\"><sup>(2) (3)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23735 ss1801\"><div><div class=\"ps13029 ss1397\"><span class=\"f charStyle-183bdf94 ps23715\">50.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23736 ss1802\"><div><div class=\"ps13029 ss1233\"><span class=\"f charStyle-183bdf94 ps23072\">4.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23737 ss1803\"><div><div class=\"ps13029 ss179\"><span class=\"f charStyle-183bdf94 ps23719\">16.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23738 ss1804\"><div><div class=\"ps13029 ss214\"><span class=\"f charStyle-183bdf94 ps12106\">31/03/26<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23739 ss1805\"><div><div class=\"ps13029 ss1798\"><span class=\"f charStyle-183bdf94 ps23722\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23740 ss1806\"><div><div class=\"ps13029 ss197\"><span class=\"f charStyle-183bdf94 ps23714\">3.720%</span></div></div></div></td></tr><tr style=\"height:12pt\"><td style=\"padding:0\"><div class=\"ps510 ss1781\"><div><div class=\"ps13029 ss338\"><span class=\"f charStyle-40131897 ps132\">Term Loan 2023</span><span class=\"f charStyle-85922b7e ps23665\"><sup>(2) (3) (4)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23741 ss1801\"><div><div class=\"ps13029 ss1397\"><span class=\"f charStyle-183bdf94 ps20436\">400.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23742 ss1802\"><div><div class=\"ps13029 ss1233\"><span class=\"f charStyle-183bdf94 ps23709\">363.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23743 ss1803\"><div><div class=\"ps13029 ss179\"><span class=\"f charStyle-183bdf94 ps23719\">35.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23744 ss1804\"><div><div class=\"ps13029 ss214\"><span class=\"f charStyle-183bdf94 ps12106\">30/06/29<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23745 ss1805\"><div><div class=\"ps13029 ss1798\"><span class=\"f charStyle-183bdf94 ps23722\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23746 ss1806\"><div><div class=\"ps13029 ss197\"><span class=\"f charStyle-183bdf94 ps23714\">4.133%</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps13145 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps132\">Loan 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23747 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps20436\">125.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23748 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23709\">124.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23749 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23751 ss224\"><div><div class=\"ps476 ss214\"><span class=\"f charStyle-183bdf94 ps23750\">07/11/28<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23752 ss1807\"><div><div class=\"ps476 ss1798\"><span class=\"f charStyle-183bdf94 ps23722\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23753 ss209\"><div><div class=\"ps476 ss197\"><span class=\"f charStyle-183bdf94 ps23714\">3.983%</span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps14171 ss1808\"><div><div class=\"ps23754 ss338\"><span class=\"f charStyle-40131897 ps132\">Other Group company loans</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23755 ss1809\"><div><div class=\"ps23754 ss1397\"><span class=\"f charStyle-183bdf94 ps20436\">159.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23756 ss1810\"><div><div class=\"ps23754 ss1233\"><span class=\"f charStyle-183bdf94 ps23072\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23757 ss1811\"><div><div class=\"ps23754 ss179\"><span class=\"f charStyle-183bdf94 ps13745\">159.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23759 ss1812\"><div><div class=\"ps23754 ss1798\"><span class=\"f charStyle-40131897 ps23758\">variable rate</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23760 ss1813\"><div><div class=\"ps23754 ss197\"><span class=\"f charStyle-183bdf94 ps23714\">4.966%</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23761 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:219.19pt\">The current portion is classified in current liabilities-loans due to banks.</span></div><div class=\"ps23762 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:306.15pt\">Variable interest rate component linked to business performance (Debt/EBITDA adjusted indicator).</span></div><div class=\"ps23763 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:243.57pt\">Variable interest rate component applicable and related to certain ESG targets.</span></div><div class=\"ps23764 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(4) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:131.3pt\">Secured Overnight Financing Rate ('Sofr').<span class=\"f ps21\"> </span></span></div><div class=\"ps23765 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(5)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.54pt\"> The loan was accompanied by a revolving credit facility for the same amount, hence an agreement for a total amount equal up to \u20ac800 million with a pool of</span><span class=\"f charStyle-40131897 ps372\" style=\"width:1.94pt\"> </span></div><div class=\"ps23766 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:219.1pt\">banks. The revolving credit facility was not used at 31 December 2025.</span></div><div class=\"ps23768 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">The total decrease compared to last year primarily reflected the repayment, in October 2025 of a loan with</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23769 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">nominal amount of \u20ac50.0 million by Davide Campari-Milano N.V., together with scheduled repayments of other</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23770 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">financing arrangements, mainly those of Davide Campari- Milano N.V. amounting to \u20ac101.8 million and \u20ac155.6</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23771 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">million denominated in US$ (current and non-current). The movements recorded during the year also included</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23772 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">the reclassification between current and non\u2011current portions, determined in accordance with the contractual</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23773 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:209.41pt\">maturity profile of the underlying arrangements.</span></div><div class=\"ps23775 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:183.21pt\">Liabilities for put options and earn-out<span id=\"i7001c33dc89a4ff28bca411b24abe274\"></span></span></div><div class=\"ps23793 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:146.25pt\"></td><td style=\"padding:0;width:60.75pt\"></td><td style=\"padding:0;width:104.25pt\"></td><td style=\"padding:0;width:184.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23778 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-183bdf94 ps23777\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4586 ss1816\"><div><div class=\"ps23779 ss1014\"><span class=\"f charStyle-d669f8f1 ps11805\">variation impacting profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22862 ss1817\"><div><div class=\"ps23780 ss1041\"><span class=\"f charStyle-d669f8f1 ps18328\">variation impacting Group net equity (retained earning or <span class=\"f ps21\"> </span></span></div><div class=\"ps23782 ss1041\"><span class=\"f charStyle-d669f8f1 ps23781\">currency translation differences)</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23783 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-ba8ac8da ps21089\">164.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">remeasurement<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23785 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-183bdf94 ps23784\">(65.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6316 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23786\">(49.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4514 ss1042\"><div><div class=\"ps6279 ss1041\"><span class=\"f charStyle-d669f8f1 ps23787\">(15.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23788 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-183bdf94 ps23784\">(13.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6328 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23789\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4526 ss1042\"><div><div class=\"ps6279 ss1041\"><span class=\"f charStyle-d669f8f1 ps23787\">(13.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23790 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-ba8ac8da ps21133\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1815\"><div><div class=\"ps6279 ss1814\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23791 ss225\"><div><div class=\"ps6279 ss210\"><span class=\"f charStyle-d669f8f1 ps21133\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1815\"><div><div class=\"ps6279 ss1814\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at amortised cost<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23792 ss225\"><div><div class=\"ps6279 ss210\"><span class=\"f charStyle-d669f8f1 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps23808 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:146.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:104.25pt\"></td><td style=\"padding:0;width:186pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23778 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23795\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23796 ss1816\"><div><div class=\"ps23779 ss1014\"><span class=\"f charStyle-d669f8f1 ps11805\">variation impacting profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6268 ss1818\"><div><div class=\"ps23780 ss341\"><span class=\"f charStyle-d669f8f1 ps23797\">variation impacting Group net equity (retained earning or <span class=\"f ps21\"> </span></span></div><div class=\"ps23782 ss341\"><span class=\"f charStyle-d669f8f1 ps23798\">currency translation differences)</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23783 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps23372\">209.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">perimeter effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23785 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16618\">48.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23799 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23789\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6273 ss342\"><div><div class=\"ps6279 ss341\"><span class=\"f charStyle-d669f8f1 ps6951\">48.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">remeasurement<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23788 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(46.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23801 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23800\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23803 ss342\"><div><div class=\"ps6279 ss341\"><span class=\"f charStyle-d669f8f1 ps23802\">(47.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">reclassification to current liability<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23790 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(55.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23804 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23789\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23791 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">8.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23805 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23789\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9005 ss342\"><div><div class=\"ps6279 ss341\"><span class=\"f charStyle-d669f8f1 ps7241\">8.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23792 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps23372\">164.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1815\"><div><div class=\"ps6279 ss1814\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23806 ss1400\"><div><div class=\"ps6279 ss304\"><span class=\"f charStyle-d669f8f1 ps23372\">164.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1815\"><div><div class=\"ps6279 ss1814\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at amortised cost<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23807 ss1400\"><div><div class=\"ps6279 ss304\"><span class=\"f charStyle-d669f8f1 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps23811 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:101.51pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22918\" style=\"width:6.97pt\">, </span><span class=\"f charStyle-58d8bcbe ps22919\" style=\"width:173.8pt\">the long-term portion mainly included </span><span class=\"f charStyle-58d8bcbe ps23810\" style=\"width:213.87pt\">the estimated payable for put options linked to</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps23812 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">Wilderness Trail Distillery, totalling \u20ac86.9 million, whose value decreased by \u20ac29.0 million, depending on the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps23813 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">remeasurement and exchange rate effects, as well as the estimated payable for earn-out linked to Courvoisier</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps23815 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:484.99pt\">totalling \u20ac0.3 million, whose value decreased by \u20ac49.6 million, depending on the remeasurement effects. T</span><span class=\"f charStyle-58d8bcbe ps23814\" style=\"width:11.12pt\">he</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">estimated payable for the earn-out related to Campari Japan Ltd. was negligible (unchanged compared to</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:28.34pt\">2024).</span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vi.\u00a0  Current Financial Debt<span id=\"i6f9db66bdc9c47dda8c6a00fe6a097d8\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps23837 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:333pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:79.5pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7506 ss998\"><div><div class=\"ps473 ss288\"><span class=\"f charStyle-183bdf94 ps5366\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20855 ss1820\"><div><div class=\"ps473 ss1623\"><span class=\"f charStyle-183bdf94 ps22963\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23820 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23819\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16081 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps23821\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1126 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-ba8ac8da ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23822 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps19872\">272.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps16091 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-ba8ac8da ps20464\">289.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps490 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Accrued interest on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23824 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23823\">21.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16099 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps23825\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23826 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23823\">19.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16106 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps23825\">18.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Liabilities for put option and earn-out payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23828 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16114 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps20482\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps1043 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps7998 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23829 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps20482\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps4628 ss1821\"><div><div class=\"ps485 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedging derivatives not reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23830 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23831 ss1627\"><div><div class=\"ps485 ss1623\"><span class=\"f charStyle-183bdf94 ps20482\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6894 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Other financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23832 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23823\">25.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps20908 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps20482\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5271 ss1821\"><div><div class=\"ps476 ss1819\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:106.83pt\">Other current financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23833 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23823\">69.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23834 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-ba8ac8da ps23825\">52.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6904 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-ba8ac8da ps132\">Current financial debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23835 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps19872\">341.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23836 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-ba8ac8da ps20464\">341.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23839 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">The main financial liabilities and the main changes that occurred in the composition of financial liabilities during</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23840 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:102.75pt\">the year are as follows.</span></div><div class=\"ps23842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:161.86pt\">Liabilities and loans due to banks<span id=\"ie1c7a0b8355a405b9d387c32d183c6e0\"></span></span><span class=\"f charStyle-562c451e ps23623\" style=\"width:3.05pt\"> </span></div><div class=\"ps23844 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:97.85pt\">At 31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23843\" style=\"width:398.33pt\">, loans due to banks were broadly in line with the balance reported at 31 December 2024.</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">For details of the main movements, refer to note 6 vi-'Current financial debt. The changes mainly reflected the</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23846 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">ongoing active management of the Group\u2019s debt profile, aimed at further strengthening the financial position and</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps23848 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:418.86pt\">enhancing flexibility to respond promptly to the prevailing volatile macroeconomic environment.</span><span class=\"f charStyle-58d8bcbe ps23847\" style=\"width:2.77pt\"> </span></div><div class=\"ps23850 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:233.91pt\">Liabilities for put options and earn-out payments<span id=\"i0cc082e6cc9048f0aefa00ad385a0328\"></span></span></div><div class=\"ps23852 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:97.25pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps6908\" style=\"width:398.92pt\">, the short-term portion of the item included a liability of \u20ac3.1 million for the purchase of the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps23854 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:435.68pt\">residual non-controlling shares in J. Wray&amp;Nephew Ltd., secured by restricted bank account and </span><span class=\"f charStyle-58d8bcbe ps23853\" style=\"width:60.53pt\">the estimated</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23855 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:376.93pt\">payable for the earn-out related to CT Spirits Japan Ltd. in the amount of \u20ac0.1 million.</span></div><div class=\"ps23863 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:201.75pt\"></td><td style=\"padding:0;width:95.25pt\"></td><td style=\"padding:0;width:95.25pt\"></td><td style=\"padding:0;width:103.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss892\"><div><div class=\"ps485 ss891\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps9100 ss1823\"><div><div class=\"ps23780 ss1822\"><span class=\"f charStyle-d669f8f1 ps23857\">variation impacting profit or <span class=\"f ps21\"> </span></span></div><div class=\"ps23782 ss1822\"><span class=\"f charStyle-d669f8f1 ps23858\">loss</span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps18650 ss1824\"><div><div class=\"ps23780 ss1470\"><span class=\"f charStyle-d669f8f1 ps16471\">variation impacting Group net <span class=\"f ps21\"> </span></span></div><div class=\"ps23782 ss1470\"><span class=\"f charStyle-d669f8f1 ps23859\">equity or investment value</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss892\"><div><div class=\"ps485 ss891\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps15081 ss1825\"><div><div class=\"ps485 ss1822\"><span class=\"f charStyle-ba8ac8da ps23860\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss892\"><div><div class=\"ps485 ss891\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps18339 ss1825\"><div><div class=\"ps485 ss1822\"><span class=\"f charStyle-183bdf94 ps23861\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21298 ss1825\"><div><div class=\"ps6279 ss1822\"><span class=\"f charStyle-d669f8f1 ps23861\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps19366 ss1471\"><div><div class=\"ps6279 ss1470\"><span class=\"f charStyle-d669f8f1 ps19322\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss892\"><div><div class=\"ps485 ss891\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23862 ss1825\"><div><div class=\"ps485 ss1822\"><span class=\"f charStyle-ba8ac8da ps23860\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss892\"><div><div class=\"ps6279 ss891\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps19599 ss1825\"><div><div class=\"ps6279 ss1822\"><span class=\"f charStyle-d669f8f1 ps23860\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss892\"><div><div class=\"ps6279 ss891\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at amortised cost<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps19606 ss1825\"><div><div class=\"ps6279 ss1822\"><span class=\"f charStyle-d669f8f1 ps23860\">3.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps23880 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:200.25pt\"></td><td style=\"padding:0;width:98.25pt\"></td><td style=\"padding:0;width:98.25pt\"></td><td style=\"padding:0;width:98.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:1pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23867 ss1826\"><div><div class=\"ps23780 ss553\"><span class=\"f charStyle-d669f8f1 ps23865\">variation impacting profit or <span class=\"f ps21\"> </span></span></div><div class=\"ps23782 ss553\"><span class=\"f charStyle-d669f8f1 ps23866\">loss</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:1pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1826\"><div><div class=\"ps23780 ss553\"><span class=\"f charStyle-0788a2e8 ps23868\">variation impacting Group net </span></div><div class=\"ps23782 ss553\"><span class=\"f charStyle-0788a2e8 ps16473\">equity or investment value</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt solid #000;padding:0\"><div class=\"ps1081 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #000;padding:0\"><div class=\"ps20561 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-ba8ac8da ps23869\">26.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:1pt solid #000;padding:0\"><div class=\"ps1105 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #000;padding:0\"><div class=\"ps22448 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps23870\">(77.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #000;padding:0\"><div class=\"ps23872 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #000;padding:0\"><div class=\"ps23574 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Remeasurement<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22452 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps23873\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23874 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23575 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23873\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">reclassification from non-current liability<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22454 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps23869\">55.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23875 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23576 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22457 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps15995\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23876 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps15995\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23577 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps15995\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22461 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-ba8ac8da ps23873\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23877 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23558 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">of which measured at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22463 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23873\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23878 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23559 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">of which measured at amortised cost<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22467 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23873\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23879 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23562 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24364 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Nature and Extent of the Risks Arising from Financial Instruments<span id=\"i266b5b9b505e4b3b83e47d24ed3989ab\"></span></span></div><div class=\"ps24366 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">The Group\u2019s main financial instruments include current accounts, short-term deposits, short and long-term loans</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps24367 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">due to banks, lease payables and bonds. The purpose of these is to finance the Group\u2019s operating activities. In</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps2949 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:373.3pt\">addition, the Group has trade receivables and payables resulting from its operations.<span class=\"f ps21\"> </span></span></div><div class=\"ps19753 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">The main financial risks to which the Group is exposed are market (currency and interest rate risk), credit and</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps24368 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:448.65pt\">liquidity risk. These risks are described below, together with an explanation of how they are managed.<span class=\"f ps21\"> </span></span></div><div class=\"ps24369 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">To cover these risks, the Group uses derivatives, primarily interest-rate swaps, cross-currency swaps and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1989 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:289.4pt\">forward contracts, to hedge interest-rate and exchange-rate risks.<span class=\"f ps21\"> </span></span></div><div class=\"ps24371 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:49.46pt\">Credit risk<span id=\"ic23e4c83e3504d38adf608b7c1926236\"></span></span></div><div class=\"ps9369 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">In specific markets in which the Group operates, sales are concentrated in a limited number of key customers.</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.59pt\"> </span></div><div class=\"ps9370 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Therefore, a possible change in the priorities, or deterioration of the financial conditions of these customers</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps9371 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">could have significant adverse effects on the Group\u2019s business and outlook. Furthermore, if these key</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9375 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">customers view the contractual terms and conditions as no longer acceptable, they may ask for them to be</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9377 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">renegotiated, resulting in less favourable terms and conditions for the Group. Examples of mitigation measures:</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9378 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">monitoring of customers at market level, strategy and innovation development at corporate and market-level,</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2958 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:148.66pt\">multi-country investment strategy.</span><span class=\"f charStyle-58d8bcbe ps24372\" style=\"width:2.77pt\"> </span></div><div class=\"ps4078 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">With regard to trade transactions, the Group works with medium-sized and large customers (large-scale<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps4082 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">retailers, domestic and international distributors) on which credit checks are performed in advance. Each</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps4083 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">company carries out an assessment and control procedure for its customer portfolio, constantly monitoring</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps4084 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">amounts received. In the event of excessive or repeated delays, supplies are suspended. Historically, losses on</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps2010 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">receivables represent a very low percentage of revenues and outstanding annual receivables, and significant</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps24373 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:392.76pt\">hedging and/or insurance is put in place where there is uncertainty about cash collection.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Financial transactions are carried out with leading domestic and international institutions, monitored ratings to</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:168.31pt\">minimise counterparty insolvency risk.</span><span class=\"f charStyle-58d8bcbe ps6775\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The maximum risk associated with commercial and financial transactions at the reporting date is equivalent to</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">the net carrying amount of these assets, also taking into account the risk of expected credit losses estimated by</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:205.54pt\">the Group using the business model identified.</span></div><div class=\"ps24374 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:60.46pt\">Liquidity risk<span id=\"i31545b239eba47ff963738e7c3981a10\"></span></span></div><div class=\"ps24375 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">The Group\u2019s ability to generate substantial cash flow through its operations minimises liquidity risk. This risk is</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps24376 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:356.79pt\">defined as the difficulty in raising funds to cover the Group\u2019s financial obligations.<span class=\"f ps21\"> </span></span></div><div class=\"ps24379 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:227.48pt\">The table below summarises financial liabilities </span><span class=\"f charStyle-58d8bcbe ps24377\" style=\"width:104.88pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps24378\" style=\"width:163.83pt\"> by maturity, based on contractual</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps4475 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:252.23pt\">repayment obligations, including non-discounted interest.</span></div><div class=\"ps24431 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:176.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1850\"><div><div class=\"ps979 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24380 ss445\"><div><div class=\"ps979 ss433\"><span class=\"f charStyle-183bdf94 ps20436\">on demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps983 ss445\"><div><div class=\"ps979 ss433\"><span class=\"f charStyle-183bdf94 ps5323\">within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24382 ss445\"><div><div class=\"ps2776 ss433\"><span class=\"f charStyle-183bdf94 ps20225\">due in 1 to 2 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss433\"><span class=\"f charStyle-183bdf94 ps24381\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12889 ss445\"><div><div class=\"ps2776 ss433\"><span class=\"f charStyle-183bdf94 ps20225\">due in 3 to 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss433\"><span class=\"f charStyle-183bdf94 ps24381\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24384 ss445\"><div><div class=\"ps2776 ss433\"><span class=\"f charStyle-183bdf94 ps24383\">due after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss433\"><span class=\"f charStyle-183bdf94 ps24381\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18813 ss445\"><div><div class=\"ps979 ss433\"><span class=\"f charStyle-183bdf94 ps24385\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24386 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps991 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24387 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24388 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24389 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24390 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24391 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1002 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">42.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24392 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">592.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6478 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">944.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24393 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">208.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24394 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps8160\">1,788.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss1851\"><div><div class=\"ps476 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24395 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps1014 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">245.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24396 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">234.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6497 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">445.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24397 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24398 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">924.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24399 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps1024 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">22.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24400 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">18.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6510 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">30.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24402 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps24401\">11.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24403 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">81.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Payables for put option and earn-out<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24404 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps1033 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7309\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24405 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7309\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6521 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">49.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24407 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps24406\">114.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24408 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">168.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Other financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24409 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps1047 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">158.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24410 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24411 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24412 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24413 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">158.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Trade payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps24414 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">179.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps5538 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">525.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps24415 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7309\">6.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps24416 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7309\">2.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps24417 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps24418 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">714.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Other non-financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24419 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24420 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">205.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24421 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24422 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7309\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24423 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24424 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">227.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-ba8ac8da ps132\">Total liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24425 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps16687\">201.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24426 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps8160\">1,203.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24427 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps16687\">852.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24428 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps8160\">1,472.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24429 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps16687\">335.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24430 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps8160\">4,064.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24480 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:182.25pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:51pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1853\"><div><div class=\"ps979 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24433 ss984\"><div><div class=\"ps979 ss452\"><span class=\"f charStyle-183bdf94 ps20562\">on demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24203 ss984\"><div><div class=\"ps979 ss452\"><span class=\"f charStyle-183bdf94 ps12118\">within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14913 ss984\"><div><div class=\"ps2776 ss452\"><span class=\"f charStyle-183bdf94 ps18481\">due in 1 to 2 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss452\"><span class=\"f charStyle-183bdf94 ps24434\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8422 ss984\"><div><div class=\"ps2776 ss452\"><span class=\"f charStyle-183bdf94 ps18481\">due in 3 to 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss452\"><span class=\"f charStyle-183bdf94 ps24434\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18650 ss984\"><div><div class=\"ps2776 ss452\"><span class=\"f charStyle-183bdf94 ps24435\">due after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss452\"><span class=\"f charStyle-183bdf94 ps24434\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10499 ss442\"><div><div class=\"ps979 ss429\"><span class=\"f charStyle-183bdf94 ps24436\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24437 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7526\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8659 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7526\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24438 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7526\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24439 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7526\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24440 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7526\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24441 ss860\"><div><div class=\"ps485 ss429\"><span class=\"f charStyle-183bdf94 ps7287\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24442 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24443 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">43.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24444 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">43.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24445 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps20879\">1,216.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11827 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">552.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11781 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps11794\">1,856.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss1854\"><div><div class=\"ps476 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24446 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24447 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">298.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24448 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">213.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24449 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">810.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps18665 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11789 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps11794\">1,322.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24450 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24451 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">21.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24452 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">17.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24453 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">30.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps18674 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24454 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps7296\">72.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Payables for put option and earn-out<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24455 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24456 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24457 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24458 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">49.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19305 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps9098\">114.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24459 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps7341\">168.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Other financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24460 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24461 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24462 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24463 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19310 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24464 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps7349\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Trade payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24465 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">105.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24466 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">565.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24467 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24468 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps18688 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24469 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps7341\">672.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Other non-financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24470 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">17.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24471 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">203.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24472 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24473 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19314 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24474 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps7341\">221.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-ba8ac8da ps132\">Total liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24475 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-ba8ac8da ps7576\">123.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24476 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-ba8ac8da ps20879\">1,138.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24477 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-ba8ac8da ps7576\">275.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24478 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-ba8ac8da ps20879\">2,107.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19315 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-ba8ac8da ps7576\">671.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24479 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-ba8ac8da ps11794\">4,316.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">The Group\u2019s financial payables, except non-current payables with a fixed maturity, consist of short-term bank<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">debt. Thanks to its liquidity and satisfactory generation of cash flow from operations, the Group has sufficient<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">resources to meet its financial commitments at maturity. In addition, there are unused credit lines both</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps24485 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:336.97pt\">committed and uncommitted, that could cover any liquidity requirements </span><span class=\"f charStyle-58d8bcbe ps7401\" style=\"width:159.12pt\">(refer to note 6 ii 'Cash and Cash</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps24487 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:56.9pt\">Equivalents')</span><span class=\"f charStyle-58d8bcbe ps1805\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-58d8bcbe ps24486\" style=\"width:2.77pt\"> </span></div><div class=\"ps24489 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:78.77pt\">Interest rate risk<span id=\"i28e4fa2d16664785b118899e8eadc57c\"></span></span></div><div class=\"ps17527 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:496.1pt\"><span style=\"background-color:inherit\">A breakdown of the effective interest rate, taking all the cost components of the amortised costs into account,</span></span><span class=\"f charStyle-bdf8be45 ps413\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps24490 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:209.38pt\"><span style=\"background-color:inherit\">divided by type of financial liability is as follows.</span><span class=\"f ps21\"> </span></span></div><div class=\"ps24529 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:110.25pt\"></td><td style=\"padding:0;width:126pt\"></td><td style=\"padding:0;width:109.5pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23520 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps24492\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24494 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24493\">nominal interest rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24497 ss1855\"><div><div class=\"ps476 ss40\"><span class=\"f charStyle-40131897 ps24495\">effective interest rate</span><span class=\"f charStyle-85922b7e ps24496\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps901 ss359\"><div><div class=\"ps476 ss358\"><span class=\"f charStyle-183bdf94 ps24498\">maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps24499\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24500 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps24499\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps904 ss359\"><div><div class=\"ps476 ss358\"><span class=\"f charStyle-183bdf94 ps7943\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps4032\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24501 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps4032\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-40131897 ps132\">Loans due to banks</span><span class=\"f charStyle-85922b7e ps23262\"><sup>(2)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24502 ss322\"><div><div class=\"ps2415 ss299\"><span class=\"f charStyle-183bdf94 ps23043\">variable rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24504 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24503\"></span><span class=\"ps24503\">3.99</span><span class=\"ps1654\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps911 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps9106\">2028<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">899.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24505 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps8157\">1,205.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Parent Company bond issues<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">- issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24507 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps24506\">fixed rate 1.250%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24508 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24503\"></span><span class=\"ps24503\">1.42</span><span class=\"ps1654\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps922 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps9106\">2027<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21307 ss183\"><div><div class=\"ps485 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">548.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24509 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">548.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">- issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24510 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps24506\">fixed rate 4.710%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24511 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24503\"></span><span class=\"ps24503\">4.78</span><span class=\"ps1654\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24512 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps9106\">2030<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21309 ss183\"><div><div class=\"ps485 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">299.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24513 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">298.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1369\"><div><div class=\"ps476 ss1368\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:49.37pt\">- issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24514 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps24506\">fixed rate 2.375%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24515 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24503\"></span><span class=\"ps24503\">3.87</span><span class=\"ps1654\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24516 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps9106\">2029<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21854 ss183\"><div><div class=\"ps485 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">522.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24517 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">514.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1369\"><div><div class=\"ps476 ss1368\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:49.37pt\">- issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24518 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps24506\">fixed rate 4.256%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24519 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24503\"></span><span class=\"ps24503\">4.33</span><span class=\"ps1654\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24520 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps9106\">2031<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21856 ss183\"><div><div class=\"ps485 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">219.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24521 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">219.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24523 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps24522\">incremental borrowing rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24525 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94 ps24524\">incremental borrowing rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24527 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps24526\">2027-2032<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21858 ss183\"><div><div class=\"ps485 ss182\"><span class=\"f charStyle-183bdf94 ps20902\">71.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24528 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20902\">77.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24530 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:366.32pt\">Calculated on any difference included in the amortised cost accounting and excluding the effect of hedging derivatives.</span></div><div class=\"ps24533 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.19pt\"><span class=\"f ps21\"> </span><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps24531\" style=\"width:348.47pt\">The figure shown relates to the applied rate and maturity of the loans due to banks by Davide Campari Milano </span><span class=\"f charStyle-40131897 ps24532\" style=\"width:12.95pt\">N.V.</span><span class=\"f charStyle-40131897 ps22911\" style=\"width:127.45pt\"> and Campari America, LLC, responsible</span><span class=\"f charStyle-40131897 ps389\" style=\"width:1.94pt\"> </span></div><div class=\"ps24534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:88.22pt\">for nearly all market funding.<span class=\"f ps21\"> </span></span></div><div class=\"ps22070 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">The Group is exposed to the risk of fluctuating interest rates in respect of its financial assets, loans due to banks</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps22071 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">and lease agreements. Derivative contracts intended to hedge interest rate exposures connected with financing<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">are not subject to established quantitative policies concerning the optimal level of exposure to fixed or variable</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">rates: the Group manages its interest rate risk by having a balanced portfolio of fixed and variable rate loans</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">and borrowings. The preferred exposure to fixed or variable rates is dynamically managed centrally within the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">Group, considering current and future market conditions, the Group's level of indebtedness, business</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:297.97pt\">performance and in the context of the Group's expansion initiatives.</span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:171.26pt\"><span style=\"background-color:inherit\">The Parent Company\u2019s 2020, 2023 an</span></span><span class=\"f charStyle-58d8bcbe ps24535\" style=\"width:252.77pt\">d 2024 bond issues pay interest at a fixed rate. Overall, </span><span class=\"f charStyle-58d8bcbe ps24536\" style=\"width:72.13pt\">at 31 December</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps4079\" style=\"width:460.06pt\">, the nominal exposure of the Group\u2019s total financial debt was 34% (39% in 2024) at variable-rate, while </span><span class=\"f charStyle-58d8bcbe ps24537\" style=\"width:13.89pt\">the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:479.79pt\">effective exposure, including the applicable hedging derivatives, stood at 21% at variable rate (27% in 2024).</span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9d8f533c ps56\" style=\"width:83.87pt\">Sensitivity analysis</span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The table below shows the effects of a possible change in interest rates on the Group\u2019s statement of profit or</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">loss, if all other variables remain constant. A negative value in the table indicates a potential net reduction in</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">profit or loss, while a positive value indicates a potential net increase in this item. The assumptions used with</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:424.96pt\">regard to a potential change in rates are based on an analysis of the trend on the reporting date.</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">With regard to the fixed-rate financial liabilities hedged by interest-rate swaps, the change in the hedging</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">instrument offsets the difference in the underlying liability, with practically no effect on the statement of profit or</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:17.78pt\">loss<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps24538\" style=\"width:2.77pt\">.</span></div><div class=\"ps14124 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:165pt\"></td><td style=\"padding:0;width:104.25pt\"></td><td style=\"padding:0;width:126pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss842\"><div><div class=\"ps476 ss841\"><span class=\"f charStyle-183bdf94 ps132\">profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1084 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-183bdf94 ps132\">increase/decrease<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss322\"><div><div class=\"ps2415 ss299\"><span class=\"f charStyle-183bdf94 ps132\">increase in interest rates<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps2415 ss1000\"><span class=\"f charStyle-183bdf94 ps132\">decrease in interest rates<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss51\"><div><div class=\"ps476 ss50\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1107 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-183bdf94 ps132\">in interest rates in basis point<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24539 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps6275\">+/- 5 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22770 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24540\">(0.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24541 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps4783\">+30/-10 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22772 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24540\">(0.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">Other currencies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24542 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps20926\">+/- 10 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22774 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24543\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-ba8ac8da ps132\">Total effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22788 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-ba8ac8da ps24540\">(1.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss51\"><div><div class=\"ps476 ss50\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22791 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-ba8ac8da ps24544\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21854 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24545 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps6275\">+/- 5 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22793 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24540\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21856 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24546 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps4783\">+30/-10 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22802 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24540\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21858 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">Other currencies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24547 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps20926\">+/- 10 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22804 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24543\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21860 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6300 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-ba8ac8da ps132\">Total effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24548 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-ba8ac8da ps24540\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21862 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24549 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:91.01pt\">Exchange rate risk<span id=\"ie0ee63bce7b140bdaf40a402de335ff2\"></span></span></div><div class=\"ps9930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">The Group develops its business activities globally, and sales in non-\u20ac markets are progressively increasing.</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">However, the establishment of Group companies in countries including the United States, Australia and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Switzerland allows exchange rate risk to be partly hedged, since both costs and income are denominated in the</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:76.7pt\">same currency. </span><span class=\"f charStyle-58d8bcbe ps24550\" style=\"width:419.44pt\">For Campari Group, net exposure to foreign exchange effects is limited to transactions</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">concluded among Group companies relating to certain sales regulated in currencies other than the functional<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">currencies of the companies. Although these transactions represent only a portion of the overall business, the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Group policy regularly determines the net exposure to the primary currencies, to mitigate the residual foreign</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">exchange risk by using forward and option derivatives agreements. Derivative contracts aiming to mitigate</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">currency exchange risks are dynamically and qualitatively managed based on business needs and specific</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">contexts and circumstances. These are not framed within fixed or quantitative policies regarding the percentage</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">of coverage to be achieved. To avoid excessive coverage, the budget for future transactions is typically hedged</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:266.11pt\">at a level between 50% and 90% throughout the whole year.</span></div><div class=\"ps1229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9d8f533c ps56\" style=\"width:83.87pt\">Sensitivity analysis</span></div><div class=\"ps1233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">An analysis was performed on the effects of a possible change in the exchange rates against the \u20ac on the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">statement of profit or loss, keeping all the other variables constant. This analysis does not include the</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Consolidated Financial statements\u2019 effect on translating the financial statements of subsidiaries denominated in</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">a foreign currency following a possible change in exchange rates. The assumptions adopted regarding a</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">potential change in rates are based on an analysis of forecasts provided by financial information agencies on</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">the reporting date. The types of transactions included in this analysis are sales and purchases in any currency</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">other than the Group\u2019s functional currency. The effects on shareholders\u2019 equity are determined by changes in</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps9939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:415.47pt\">the fair value of forward contracts on future transactions, which are used as cash flow hedges.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:179.25pt\"></td><td style=\"padding:0;width:115.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps24551\">net equity<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps9539 ss275\"><div><div class=\"ps485 ss268\"><span class=\"f charStyle-183bdf94 ps132\">increase/decrease<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps132\">increase in exchange rates<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps132\">decrease in exchange rates<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss575\"><div><div class=\"ps476 ss574\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps24552 ss275\"><div><div class=\"ps485 ss268\"><span class=\"f charStyle-ba8ac8da ps132\">in currency rates in %<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps24554 ss275\"><div><div class=\"ps476 ss268\"><span class=\"f charStyle-183bdf94 ps24553\">+1%/-14%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-183bdf94 ps132\">Other currencies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24556 ss275\"><div><div class=\"ps476 ss268\"><span class=\"f charStyle-183bdf94 ps24555\">+11%/-1%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-ba8ac8da ps132\">Total effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">5.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21849\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss575\"><div><div class=\"ps476 ss574\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24558 ss275\"><div><div class=\"ps476 ss268\"><span class=\"f charStyle-183bdf94 ps24557\">+8%/-1%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21853 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21854 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-183bdf94 ps132\">Other currencies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21855 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21856 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-ba8ac8da ps132\">Total effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21857 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21858 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21849\">(9.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:101.99pt\">Market and price risk<span id=\"i35ca45e241024aaabb635a480e68c928\"></span></span></div><div class=\"ps24560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Market risk consists of the possibility that changes in exchange rates, interest rates, or the prices of raw</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps24561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">materials or commodities (alcohol, aromatic herbs, sugar, cereals and agave) could negatively affect the value</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:190.5pt\">of assets, liabilities or expected cash flows.</span></div><div class=\"ps24563 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The price of raw materials depends on a wide variety of factors, which are difficult to forecast and are largely</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps24564 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">beyond the Group\u2019s control. Historically, the Group has had no problem obtaining high-quality quantities of raw</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24565 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">materials. However, it cannot be excluded that the Group could face challenges in getting supplies of raw</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24566 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">materials. The Group is constantly implementing measures aimed at limiting the risk of raw material price</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps24567 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">fluctuations, including co-investments and agricultural production agreements with local producers, the benefits</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24568 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">of which can be seen over the medium-term as they are related to natural growing processes. Moreover, the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24569 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">Group monitors the relationship with key suppliers on an ongoing basis, and specific projects are developed to</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps24571 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:166.66pt\">foster responsible business practices.</span><span class=\"f charStyle-58d8bcbe ps24570\" style=\"width:2.77pt\"> </span></div><div class=\"ps24572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">Campari Group has a substantial inventory of aged product categories, such as Bourbon whiskey, Scotch</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps24573 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">whisky, Canadian whisky, rum, cognac and tequila, which mature over lengthy periods. While the maturing</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps24574 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">inventory is stored at numerous locations around the world, the loss, as a result of contamination, fire or other</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps24575 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">natural disaster, or destruction resulting from negligence or the acts of third parties or otherwise, of all or a</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps18871 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">portion of the inventory of any one of those aged product categories may not be replaceable and, consequently,</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24576 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">may lead to a substantial decrease in the supply of those products. Additionally, the judgemental nature of</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24577 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">determining how much of the Group\u2019s aged products to lay down in any given year for future consumption</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps24578 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">involves an inherent risk of forecasting error. Finally, price is another critical element, as the recoverability of the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24579 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">cost incurred in the maturing process is subject to the Group's ability to select an adequate range of premium</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24580 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">products capable of satisfying the needs of demanding customers while the loss of sales and market shares</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">lead to future excess inventory and decreased profit margin. The Group regularly reviews its marketing and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24582 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:392.71pt\">production strategy to mitigate those risks enabling long-term forecasting analytical tools.</span></div><div class=\"ps24583 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">In line with its decarbonisation strategy and with the goal of contributing to the achievement of its 2030 emission</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps4565 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">reduction targets, the Group signed its first multi-year contract for the purchase of electric energy from wind</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24584 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">renewable sources (i.e., Off-site Power Purchase Agreement, \u2018PPA\u2019), active from 1 January 2024, for the next 5</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps3022 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">years. The scope of the agreement is the Italian perimeter (all plants and headquarters are included), allowing to</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24585 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">cover about 30% of the Campari Group\u2019s electricity needs in the country. With this agreement, the Group will</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps24586 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">support the renewable producer in contributing to the construction of new generators, specifically wind farms in</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps24588 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:447.45pt\">Italy. It will receive from the seller the amount of Guarantee of Origin related to the energy purchased.</span><span class=\"f charStyle-58d8bcbe ps24587\" style=\"width:24.93pt\">\u00a0 \u00a0 \u00a0 \u00a0  </span></div><div class=\"ps26126 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Commitments and Risks<span id=\"ibc2397973d78493993013f4c55e0c2b3\"></span></span></div><span class=\"f charStyle-ca5f4806 ps1256\" style=\"width:92.79pt\">Financial guarantees</span><span class=\"f charStyle-58d8bcbe ps26137\" style=\"width:389.21pt\">. Following the disposal of Tannico by the Dioniso Group, no further financial guarantees</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:86.13pt\">have been granted.</span></div>-",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-461": {
   "value": "<div class=\"ps21839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">x.\u00a0  Financial Income and Expenses<span id=\"i7b0f1b10bd0d4bd39f331821165ea732\"></span></span></div><div class=\"ps1536 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps1537 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Financial income and expenses include interest income and expenses in respect of financial instruments and</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:321.78pt\">the results of hedging transactions used to manage interest rate risk. </span><span class=\"f charStyle-2293a859 ps21840\" style=\"width:174.36pt\">Borrowing costs are recognised in the</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">statement of profit or loss income statement based on the effective interest method, except for the qualifying</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:299.06pt\">assets whose borrowing costs are capitalised on the underlying </span><span class=\"f charStyle-2293a859 ps21841\" style=\"width:23.89pt\">asset</span><span class=\"f charStyle-2293a859 ps21842\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-2293a859 ps21843\" style=\"width:170.39pt\"> The remaining financial components</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">include items in respect of post-employment plans, the discount unwind of long-term obligations and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17020 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">hyperinflation charges. The exchange gains or losses are inclusive of derivatives agreement impacts, excluding</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps17842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.27pt\">cash flow hedges that are used to cover the currency risk of highly probable future currency transactions.</span></div><div class=\"ps2267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">For detailed information on the accounting policy for financial instruments, please refer to note 6 i-\u2018Financial</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17843 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.65pt\">instruments\u2019.</span><span class=\"f charStyle-58d8bcbe ps6812\" style=\"width:2.77pt\"> </span></div><div class=\"ps17845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21874 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21845\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps14882\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Put option and earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21853 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21854 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Other expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21855 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21856 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21857 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(120.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21858 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(115.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21859 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21860 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21861 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21862 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21863 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21864 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21865 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21866 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21867 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21868 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11645 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial income<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21869 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">69.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21870 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">37.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11650 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-4b81288d ps132\">Net financial income (expenses) </span><span class=\"f charStyle-263a08f6 ps21871\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21872 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21873 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21876 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:331.92pt\"> Of which adjustments to financial income (expenses) equal to \u20ac0.2 million in 2025 and \u20ac0.5 million in 2024.</span><span class=\"f charStyle-40131897 ps21875\" style=\"width:1.94pt\"> </span></div><div class=\"ps21878 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Net financial income (expenses), which included the effects of earn-out change in estimate, exchange rate</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:282.73pt\">differences and hyperinflation, reported a total net cost of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21879\" style=\"width:19.45pt\">50.7</span><span class=\"f charStyle-58d8bcbe ps21880\" style=\"width:141.01pt\"> million, with a decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21881\" style=\"width:19.45pt\">26.5</span><span class=\"f charStyle-58d8bcbe ps21882\" style=\"width:33.59pt\"> million</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:58.33pt\">compared to </span><span class=\"f charStyle-58d8bcbe ps7814\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps19781\" style=\"width:2.77pt\">.</span></div><div class=\"ps21887 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:313.85pt\">The breakdown by nature of net financial expenses for the period is as </span><span class=\"f charStyle-58d8bcbe ps21886\" style=\"width:30.55pt\">follows</span><span class=\"f charStyle-58d8bcbe ps17024\" style=\"width:2.77pt\">.<span class=\"f ps21\"> </span></span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:296.25pt\"></td><td style=\"padding:0;width:99.75pt\"></td><td style=\"padding:0;width:99.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11591 ss278\"><div><div class=\"ps476 ss277\"><span class=\"f charStyle-183bdf94 ps21889\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11593 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11594 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11596 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4046 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11599 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(55.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4070 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(38.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on loans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11602 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(46.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11603 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(67.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11605 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11606 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11609 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11610 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11614 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11615 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11617 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11618 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Other net expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11622 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11623 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6297 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Other financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11626 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(13.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11629 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21891\">(8.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6300 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before exchange gain (losses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11633 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(102.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11634 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(80.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps5134 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11636 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11638 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before adjustments, hyperinflation and put option<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11640 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11641 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(89.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1697\"><div><div class=\"ps485 ss1696\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:112.73pt\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11643 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11644 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial income (expenses) and adjustments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11647 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11648 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(88.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11650 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11652 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11653 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11657 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11658 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11613\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11659 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11661 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11662 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11663 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Net financial income (expenses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11665 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11666 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:181.8pt\">Focusing on the main components for </span><span class=\"f charStyle-58d8bcbe ps21895\" style=\"width:164.32pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21896\" style=\"width:150.09pt\">, interest expenses amounted to</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps6229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:5.56pt\">\u20ac</span><span class=\"f charStyle-58d8bcbe ps7136\" style=\"width:25.01pt\">105.3</span><span class=\"f charStyle-58d8bcbe ps7139\" style=\"width:101.25pt\"> million, compared to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21897\" style=\"width:24.27pt\">110.1</span><span class=\"f charStyle-58d8bcbe ps21898\" style=\"width:85.14pt\"> million reported in </span><span class=\"f charStyle-58d8bcbe ps21899\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21900\" style=\"width:232.7pt\">. This slight decrease primarily reflected the reduced</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps6231 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:435.09pt\">net financial debt outstanding. In relation to interest on bank and term deposits they amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21901\" style=\"width:19.45pt\">16.6</span><span class=\"f charStyle-58d8bcbe ps21902\" style=\"width:31.11pt\"> million</span><span class=\"f charStyle-58d8bcbe ps21903\" style=\"width:10.56pt\"> in</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps6238 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:100.26pt\">2025 compared with \u20ac</span><span class=\"f charStyle-58d8bcbe ps21904\" style=\"width:19.45pt\">38.0</span><span class=\"f charStyle-58d8bcbe ps21905\" style=\"width:31.74pt\"> million</span><span class=\"f charStyle-58d8bcbe ps21906\" style=\"width:344.77pt\"> in 2024. The year\u2011on\u2011year decline primarily reflects the higher average cash</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6239 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:388.31pt\">balances held in early 2024, in advance of the completion of the Courvoisier acquisition.</span><span class=\"f charStyle-58d8bcbe ps21907\" style=\"width:2.77pt\"> </span></div><div class=\"ps2211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The sustainability-linked facilities that contain a variable component of the interest rate applicable depending on</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">the achievement of certain ESG targets identified by Campari Group and particularly focused on the reduction of</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">emissions, as well as the responsible use of water and gender equality, led to an overall reduced interest</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2217 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:236.09pt\">expense of \u20ac0.2 million in 2025 (\u20ac0.2 million in 2024).</span></div><div class=\"ps2218 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The borrowing costs associated with the acquisition of qualified assets amounted to \u20ac0.4 million in 2025 (\u20ac0.2</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps2219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:69.99pt\">million in 2024).</span></div><div class=\"ps2221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:432.33pt\">The change in estimate relating to the earn\u2011out arrangement resulted in a positive impact of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21908\" style=\"width:19.45pt\">49.6</span><span class=\"f charStyle-58d8bcbe ps21909\" style=\"width:44.33pt\"> million in</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:373.66pt\">2025, arising from the remeasurement of the related contingent consideration liability</span><span class=\"f charStyle-58d8bcbe ps21910\" style=\"width:2.77pt\">.</span></div><div class=\"ps2227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:346.65pt\"><span style=\"background-color:inherit\">The breakdown of interest payable to bondholders is shown in the table below.</span></span></div><div class=\"ps6303 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Financial expenses payable to bondholders<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(45.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(40.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Net changes in fair value and other amortised cost components<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Cash flow hedge reserve reported in the statement of profit or loss during the year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Net interest payable on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(55.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(38.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-460": {
   "value": "<div class=\"ps21839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">x.\u00a0  Financial Income and Expenses<span id=\"i7b0f1b10bd0d4bd39f331821165ea732\"></span></span></div><div class=\"ps1536 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps1537 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Financial income and expenses include interest income and expenses in respect of financial instruments and</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:321.78pt\">the results of hedging transactions used to manage interest rate risk. </span><span class=\"f charStyle-2293a859 ps21840\" style=\"width:174.36pt\">Borrowing costs are recognised in the</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">statement of profit or loss income statement based on the effective interest method, except for the qualifying</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:299.06pt\">assets whose borrowing costs are capitalised on the underlying </span><span class=\"f charStyle-2293a859 ps21841\" style=\"width:23.89pt\">asset</span><span class=\"f charStyle-2293a859 ps21842\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-2293a859 ps21843\" style=\"width:170.39pt\"> The remaining financial components</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">include items in respect of post-employment plans, the discount unwind of long-term obligations and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17020 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">hyperinflation charges. The exchange gains or losses are inclusive of derivatives agreement impacts, excluding</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps17842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.27pt\">cash flow hedges that are used to cover the currency risk of highly probable future currency transactions.</span></div><div class=\"ps2267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">For detailed information on the accounting policy for financial instruments, please refer to note 6 i-\u2018Financial</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17843 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.65pt\">instruments\u2019.</span><span class=\"f charStyle-58d8bcbe ps6812\" style=\"width:2.77pt\"> </span></div><div class=\"ps17845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21874 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21845\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps14882\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Put option and earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21853 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21854 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Other expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21855 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21856 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21857 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(120.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21858 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(115.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21859 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21860 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21861 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21862 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21863 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21864 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21865 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21866 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21867 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21868 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11645 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial income<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21869 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">69.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21870 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">37.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11650 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-4b81288d ps132\">Net financial income (expenses) </span><span class=\"f charStyle-263a08f6 ps21871\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21872 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21873 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21876 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:331.92pt\"> Of which adjustments to financial income (expenses) equal to \u20ac0.2 million in 2025 and \u20ac0.5 million in 2024.</span><span class=\"f charStyle-40131897 ps21875\" style=\"width:1.94pt\"> </span></div><div class=\"ps21878 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Net financial income (expenses), which included the effects of earn-out change in estimate, exchange rate</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:282.73pt\">differences and hyperinflation, reported a total net cost of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21879\" style=\"width:19.45pt\">50.7</span><span class=\"f charStyle-58d8bcbe ps21880\" style=\"width:141.01pt\"> million, with a decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21881\" style=\"width:19.45pt\">26.5</span><span class=\"f charStyle-58d8bcbe ps21882\" style=\"width:33.59pt\"> million</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:58.33pt\">compared to </span><span class=\"f charStyle-58d8bcbe ps7814\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps19781\" style=\"width:2.77pt\">.</span></div><div class=\"ps21887 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:313.85pt\">The breakdown by nature of net financial expenses for the period is as </span><span class=\"f charStyle-58d8bcbe ps21886\" style=\"width:30.55pt\">follows</span><span class=\"f charStyle-58d8bcbe ps17024\" style=\"width:2.77pt\">.<span class=\"f ps21\"> </span></span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:296.25pt\"></td><td style=\"padding:0;width:99.75pt\"></td><td style=\"padding:0;width:99.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11591 ss278\"><div><div class=\"ps476 ss277\"><span class=\"f charStyle-183bdf94 ps21889\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11593 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11594 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11596 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4046 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11599 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(55.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4070 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(38.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on loans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11602 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(46.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11603 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(67.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11605 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11606 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11609 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11610 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11614 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11615 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11617 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11618 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Other net expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11622 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11623 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6297 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Other financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11626 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(13.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11629 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21891\">(8.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6300 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before exchange gain (losses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11633 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(102.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11634 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(80.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps5134 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11636 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11638 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before adjustments, hyperinflation and put option<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11640 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11641 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(89.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1697\"><div><div class=\"ps485 ss1696\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:112.73pt\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11643 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11644 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial income (expenses) and adjustments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11647 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11648 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(88.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11650 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11652 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11653 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11657 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11658 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11613\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11659 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11661 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11662 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11663 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Net financial income (expenses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11665 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11666 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:181.8pt\">Focusing on the main components for </span><span class=\"f charStyle-58d8bcbe ps21895\" style=\"width:164.32pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21896\" style=\"width:150.09pt\">, interest expenses amounted to</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps6229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:5.56pt\">\u20ac</span><span class=\"f charStyle-58d8bcbe ps7136\" style=\"width:25.01pt\">105.3</span><span class=\"f charStyle-58d8bcbe ps7139\" style=\"width:101.25pt\"> million, compared to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21897\" style=\"width:24.27pt\">110.1</span><span class=\"f charStyle-58d8bcbe ps21898\" style=\"width:85.14pt\"> million reported in </span><span class=\"f charStyle-58d8bcbe ps21899\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21900\" style=\"width:232.7pt\">. This slight decrease primarily reflected the reduced</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps6231 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:435.09pt\">net financial debt outstanding. In relation to interest on bank and term deposits they amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21901\" style=\"width:19.45pt\">16.6</span><span class=\"f charStyle-58d8bcbe ps21902\" style=\"width:31.11pt\"> million</span><span class=\"f charStyle-58d8bcbe ps21903\" style=\"width:10.56pt\"> in</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps6238 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:100.26pt\">2025 compared with \u20ac</span><span class=\"f charStyle-58d8bcbe ps21904\" style=\"width:19.45pt\">38.0</span><span class=\"f charStyle-58d8bcbe ps21905\" style=\"width:31.74pt\"> million</span><span class=\"f charStyle-58d8bcbe ps21906\" style=\"width:344.77pt\"> in 2024. The year\u2011on\u2011year decline primarily reflects the higher average cash</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6239 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:388.31pt\">balances held in early 2024, in advance of the completion of the Courvoisier acquisition.</span><span class=\"f charStyle-58d8bcbe ps21907\" style=\"width:2.77pt\"> </span></div><div class=\"ps2211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The sustainability-linked facilities that contain a variable component of the interest rate applicable depending on</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">the achievement of certain ESG targets identified by Campari Group and particularly focused on the reduction of</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">emissions, as well as the responsible use of water and gender equality, led to an overall reduced interest</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2217 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:236.09pt\">expense of \u20ac0.2 million in 2025 (\u20ac0.2 million in 2024).</span></div><div class=\"ps2218 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The borrowing costs associated with the acquisition of qualified assets amounted to \u20ac0.4 million in 2025 (\u20ac0.2</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps2219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:69.99pt\">million in 2024).</span></div><div class=\"ps2221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:432.33pt\">The change in estimate relating to the earn\u2011out arrangement resulted in a positive impact of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21908\" style=\"width:19.45pt\">49.6</span><span class=\"f charStyle-58d8bcbe ps21909\" style=\"width:44.33pt\"> million in</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:373.66pt\">2025, arising from the remeasurement of the related contingent consideration liability</span><span class=\"f charStyle-58d8bcbe ps21910\" style=\"width:2.77pt\">.</span></div><div class=\"ps2227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:346.65pt\"><span style=\"background-color:inherit\">The breakdown of interest payable to bondholders is shown in the table below.</span></span></div><div class=\"ps6303 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Financial expenses payable to bondholders<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(45.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(40.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Net changes in fair value and other amortised cost components<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Cash flow hedge reserve reported in the statement of profit or loss during the year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Net interest payable on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(55.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(38.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-459": {
   "value": "<div class=\"ps21839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">x.\u00a0  Financial Income and Expenses<span id=\"i7b0f1b10bd0d4bd39f331821165ea732\"></span></span></div><div class=\"ps1536 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps1537 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Financial income and expenses include interest income and expenses in respect of financial instruments and</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:321.78pt\">the results of hedging transactions used to manage interest rate risk. </span><span class=\"f charStyle-2293a859 ps21840\" style=\"width:174.36pt\">Borrowing costs are recognised in the</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">statement of profit or loss income statement based on the effective interest method, except for the qualifying</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:299.06pt\">assets whose borrowing costs are capitalised on the underlying </span><span class=\"f charStyle-2293a859 ps21841\" style=\"width:23.89pt\">asset</span><span class=\"f charStyle-2293a859 ps21842\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-2293a859 ps21843\" style=\"width:170.39pt\"> The remaining financial components</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">include items in respect of post-employment plans, the discount unwind of long-term obligations and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17020 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">hyperinflation charges. The exchange gains or losses are inclusive of derivatives agreement impacts, excluding</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps17842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.27pt\">cash flow hedges that are used to cover the currency risk of highly probable future currency transactions.</span></div><div class=\"ps2267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">For detailed information on the accounting policy for financial instruments, please refer to note 6 i-\u2018Financial</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17843 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.65pt\">instruments\u2019.</span><span class=\"f charStyle-58d8bcbe ps6812\" style=\"width:2.77pt\"> </span></div><div class=\"ps17845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21874 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21845\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps14882\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Put option and earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21853 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21854 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Other expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21855 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21856 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21857 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(120.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21858 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(115.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21859 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21860 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21861 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21862 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21863 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21864 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21865 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21866 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21867 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21868 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11645 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial income<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21869 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">69.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21870 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">37.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11650 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-4b81288d ps132\">Net financial income (expenses) </span><span class=\"f charStyle-263a08f6 ps21871\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21872 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21873 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21876 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:331.92pt\"> Of which adjustments to financial income (expenses) equal to \u20ac0.2 million in 2025 and \u20ac0.5 million in 2024.</span><span class=\"f charStyle-40131897 ps21875\" style=\"width:1.94pt\"> </span></div><div class=\"ps21878 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Net financial income (expenses), which included the effects of earn-out change in estimate, exchange rate</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:282.73pt\">differences and hyperinflation, reported a total net cost of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21879\" style=\"width:19.45pt\">50.7</span><span class=\"f charStyle-58d8bcbe ps21880\" style=\"width:141.01pt\"> million, with a decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21881\" style=\"width:19.45pt\">26.5</span><span class=\"f charStyle-58d8bcbe ps21882\" style=\"width:33.59pt\"> million</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:58.33pt\">compared to </span><span class=\"f charStyle-58d8bcbe ps7814\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps19781\" style=\"width:2.77pt\">.</span></div><div class=\"ps21887 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:313.85pt\">The breakdown by nature of net financial expenses for the period is as </span><span class=\"f charStyle-58d8bcbe ps21886\" style=\"width:30.55pt\">follows</span><span class=\"f charStyle-58d8bcbe ps17024\" style=\"width:2.77pt\">.<span class=\"f ps21\"> </span></span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:296.25pt\"></td><td style=\"padding:0;width:99.75pt\"></td><td style=\"padding:0;width:99.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11591 ss278\"><div><div class=\"ps476 ss277\"><span class=\"f charStyle-183bdf94 ps21889\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11593 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11594 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11596 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4046 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11599 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(55.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4070 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(38.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on loans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11602 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(46.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11603 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(67.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11605 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11606 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11609 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11610 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11614 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11615 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11617 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11618 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Other net expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11622 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11623 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6297 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Other financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11626 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(13.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11629 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21891\">(8.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6300 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before exchange gain (losses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11633 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(102.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11634 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(80.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps5134 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11636 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11638 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before adjustments, hyperinflation and put option<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11640 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11641 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(89.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1697\"><div><div class=\"ps485 ss1696\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:112.73pt\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11643 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11644 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial income (expenses) and adjustments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11647 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11648 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(88.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11650 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11652 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11653 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11657 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11658 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11613\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11659 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11661 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11662 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11663 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Net financial income (expenses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11665 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11666 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:181.8pt\">Focusing on the main components for </span><span class=\"f charStyle-58d8bcbe ps21895\" style=\"width:164.32pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21896\" style=\"width:150.09pt\">, interest expenses amounted to</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps6229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:5.56pt\">\u20ac</span><span class=\"f charStyle-58d8bcbe ps7136\" style=\"width:25.01pt\">105.3</span><span class=\"f charStyle-58d8bcbe ps7139\" style=\"width:101.25pt\"> million, compared to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21897\" style=\"width:24.27pt\">110.1</span><span class=\"f charStyle-58d8bcbe ps21898\" style=\"width:85.14pt\"> million reported in </span><span class=\"f charStyle-58d8bcbe ps21899\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps21900\" style=\"width:232.7pt\">. This slight decrease primarily reflected the reduced</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps6231 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:435.09pt\">net financial debt outstanding. In relation to interest on bank and term deposits they amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps21901\" style=\"width:19.45pt\">16.6</span><span class=\"f charStyle-58d8bcbe ps21902\" style=\"width:31.11pt\"> million</span><span class=\"f charStyle-58d8bcbe ps21903\" style=\"width:10.56pt\"> in</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps6238 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:100.26pt\">2025 compared with \u20ac</span><span class=\"f charStyle-58d8bcbe ps21904\" style=\"width:19.45pt\">38.0</span><span class=\"f charStyle-58d8bcbe ps21905\" style=\"width:31.74pt\"> million</span><span class=\"f charStyle-58d8bcbe ps21906\" style=\"width:344.77pt\"> in 2024. The year\u2011on\u2011year decline primarily reflects the higher average cash</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6239 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:388.31pt\">balances held in early 2024, in advance of the completion of the Courvoisier acquisition.</span><span class=\"f charStyle-58d8bcbe ps21907\" style=\"width:2.77pt\"> </span></div><div class=\"ps2211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The sustainability-linked facilities that contain a variable component of the interest rate applicable depending on</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">the achievement of certain ESG targets identified by Campari Group and particularly focused on the reduction of</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">emissions, as well as the responsible use of water and gender equality, led to an overall reduced interest</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2217 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:236.09pt\">expense of \u20ac0.2 million in 2025 (\u20ac0.2 million in 2024).</span></div><div class=\"ps2218 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The borrowing costs associated with the acquisition of qualified assets amounted to \u20ac0.4 million in 2025 (\u20ac0.2</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps2219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:69.99pt\">million in 2024).</span></div><div class=\"ps2221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:432.33pt\">The change in estimate relating to the earn\u2011out arrangement resulted in a positive impact of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21908\" style=\"width:19.45pt\">49.6</span><span class=\"f charStyle-58d8bcbe ps21909\" style=\"width:44.33pt\"> million in</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:373.66pt\">2025, arising from the remeasurement of the related contingent consideration liability</span><span class=\"f charStyle-58d8bcbe ps21910\" style=\"width:2.77pt\">.</span></div><div class=\"ps2227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:346.65pt\"><span style=\"background-color:inherit\">The breakdown of interest payable to bondholders is shown in the table below.</span></span></div><div class=\"ps6303 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Financial expenses payable to bondholders<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(45.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(40.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Net changes in fair value and other amortised cost components<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Cash flow hedge reserve reported in the statement of profit or loss during the year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Net interest payable on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(55.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(38.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-458": {
   "value": "<div class=\"ps21839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">x.\u00a0  Financial Income and Expenses<span id=\"i7b0f1b10bd0d4bd39f331821165ea732\"></span></span></div><span class=\"f charStyle-2293a859 ps21840\" style=\"width:174.36pt\">Borrowing costs are recognised in the</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span><div class=\"ps7681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">statement of profit or loss income statement based on the effective interest method, except for the qualifying</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:299.06pt\">assets whose borrowing costs are capitalised on the underlying </span><span class=\"f charStyle-2293a859 ps21841\" style=\"width:23.89pt\">asset</span><span class=\"f charStyle-2293a859 ps21842\" style=\"width:2.77pt\">.</span><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Property, Plant and Equipment, Right of Use Assets and Biological Assets<span id=\"i7ab0f0c6725c4fc4a6e25c73fcb2cbc0\"></span></span></div><div class=\"ps22438 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Borrowing costs are capitalised as part of the cost of an asset, only when they are generally attributable to a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps22439 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:71.66pt\">qualifying asset.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-457": {
   "value": "<div class=\"ps21839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">x.\u00a0  Financial Income and Expenses<span id=\"i7b0f1b10bd0d4bd39f331821165ea732\"></span></span></div><div class=\"ps17845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21874 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps21785\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21543\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21845\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps14882\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21847\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Put option and earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21853 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21854 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Other expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21855 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21856 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21857 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(120.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21858 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21845\">(115.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21859 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21860 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21861 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21862 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21863 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21864 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21865 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21866 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21867 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21868 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11645 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial income<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21869 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">69.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21870 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21565\">37.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11650 ss1694\"><div><div class=\"ps485 ss1693\"><span class=\"f charStyle-4b81288d ps132\">Net financial income (expenses) </span><span class=\"f charStyle-263a08f6 ps21871\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21872 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21873 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21847\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21876 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:331.92pt\"> Of which adjustments to financial income (expenses) equal to \u20ac0.2 million in 2025 and \u20ac0.5 million in 2024.</span><span class=\"f charStyle-40131897 ps21875\" style=\"width:1.94pt\"> </span></div><div class=\"ps21878 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">Net financial income (expenses), which included the effects of earn-out change in estimate, exchange rate</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:282.73pt\">differences and hyperinflation, reported a total net cost of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21879\" style=\"width:19.45pt\">50.7</span><span class=\"f charStyle-58d8bcbe ps21880\" style=\"width:141.01pt\"> million, with a decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps21881\" style=\"width:19.45pt\">26.5</span><span class=\"f charStyle-58d8bcbe ps21882\" style=\"width:33.59pt\"> million</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:58.33pt\">compared to </span><span class=\"f charStyle-58d8bcbe ps7814\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps19781\" style=\"width:2.77pt\">.</span></div><div class=\"ps21887 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:313.85pt\">The breakdown by nature of net financial expenses for the period is as </span><span class=\"f charStyle-58d8bcbe ps21886\" style=\"width:30.55pt\">follows</span><span class=\"f charStyle-58d8bcbe ps17024\" style=\"width:2.77pt\">.<span class=\"f ps21\"> </span></span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:296.25pt\"></td><td style=\"padding:0;width:99.75pt\"></td><td style=\"padding:0;width:99.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11591 ss278\"><div><div class=\"ps476 ss277\"><span class=\"f charStyle-183bdf94 ps21889\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11593 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11594 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11590\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11596 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4046 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11599 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(55.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4070 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(38.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on loans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11602 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(46.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11603 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(67.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Interest expenses on leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11605 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11606 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11609 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(105.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11610 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(110.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Bank and term deposit interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11614 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">16.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11615 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21893\">38.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Bank expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11617 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21890\">(10.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11618 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(6.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Other net expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11622 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11623 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6297 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Other financial expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11626 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(13.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11629 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21891\">(8.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6300 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before exchange gain (losses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11633 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(102.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11634 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(80.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps5134 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11636 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11638 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial expenses before adjustments, hyperinflation and put option<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11640 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11641 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(89.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1697\"><div><div class=\"ps485 ss1696\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:112.73pt\">Financial income on tax assessment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11643 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11644 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Financial income (expenses) and adjustments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11647 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21892\">(103.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11648 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(88.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11650 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Earn-out change in estimate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11652 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">49.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps11653 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Liability management<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps11657 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11658 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps11613\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11659 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-183bdf94 ps132\">Hyperinflation effects<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11661 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11662 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21893\">12.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11663 ss1697\"><div><div class=\"ps485 ss1696\"><span class=\"f charStyle-ba8ac8da ps132\">Net financial income (expenses)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11665 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(50.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11666 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-ba8ac8da ps21890\">(77.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-456": {
   "value": "<div class=\"ps21839 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">x.\u00a0  Financial Income and Expenses<span id=\"i7b0f1b10bd0d4bd39f331821165ea732\"></span></span></div><span class=\"f charStyle-2293a859 ps21840\" style=\"width:174.36pt\">Borrowing costs are recognised in the</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span><div class=\"ps7681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">statement of profit or loss income statement based on the effective interest method, except for the qualifying</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:299.06pt\">assets whose borrowing costs are capitalised on the underlying </span><span class=\"f charStyle-2293a859 ps21841\" style=\"width:23.89pt\">asset</span><span class=\"f charStyle-2293a859 ps21842\" style=\"width:2.77pt\">.</span><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Property, Plant and Equipment, Right of Use Assets and Biological Assets<span id=\"i7ab0f0c6725c4fc4a6e25c73fcb2cbc0\"></span></span></div><div class=\"ps22438 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Borrowing costs are capitalised as part of the cost of an asset, only when they are generally attributable to a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps22439 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:71.66pt\">qualifying asset.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-470": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xi.\u00a0  Lease Components in the Statement of Profit or Loss<span id=\"i798acdfab63d47288a9d52171bc5a193\"></span></span><span class=\"f charStyle-6c6fcc93 ps21913\">\u00a0 </span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">For detailed information on the accounting policy, please refer to note 6 vii-\u2018Lease components in the statement</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:89.98pt\">of financial position\u2019.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps21914\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps21915 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5024 ss337\"><div><div class=\"ps485 ss284\"><span class=\"f charStyle-183bdf94 ps6070\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6072 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6073 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6071\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6075 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6076 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Interest on lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6078 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6080 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">3.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Depreciation and amortisation on right of use underlying assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6082 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">19.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6083 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">18.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Variable lease payment not included in measurement of lease liability<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6085 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">9.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6087 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">14.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Expenses related to short-term leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6088 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6089 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Expenses related to low-value leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6090 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">5.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6091 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">4.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Total lease components in the statement of profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6092 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps6081\">38.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6093 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-ba8ac8da ps6081\">43.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21918 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:334.29pt\"><span style=\"background-color:inherit\">Variable leases continued to be included in the statement of profit or loss. </span></span><span class=\"f charStyle-58d8bcbe ps21917\" style=\"width:161.91pt\">They mainly referred to warehouses</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21919 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">for storing products, information technology equipment and some production equipment in addition to the use of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21920 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">agricultural land. For further details of contractual commitments for the use of third-party assets that are not</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21921 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:375.51pt\">recognised using lease accounting, please refer to note 8 ii-\u2018Commitments and risks\u2019.</span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Property, Plant and Equipment, Right of Use Assets and Biological Assets<span id=\"i7ab0f0c6725c4fc4a6e25c73fcb2cbc0\"></span></span></div><div class=\"ps22537 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:200.25pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">right of use assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20559 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18476\">land and buildings<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9724 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps19696\">plant and machinery<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8760 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps22443\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8442 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps22444\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps20561 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9668 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22446 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8444 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22448 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">93.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16274 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">7.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22449 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">28.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8445 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">130.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated depreciation at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22452 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(47.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16277 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(4.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22453 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(12.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8447 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(64.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22454 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22460\">46.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16279 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22485\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22455 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22460\">16.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8449 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22460\">66.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Additions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22457 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">9.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16282 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22458 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">9.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8451 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">18.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Depreciation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22461 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(9.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16284 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22462 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(8.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8452 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(19.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Impairment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22463 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16286 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22486\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22465 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8453 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22467 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(2.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16288 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22468 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22486\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps8454 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(2.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6293 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22469 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22460\">42.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps16290 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22485\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22470 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22460\">17.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8455 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22460\">62.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22471 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">94.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16292 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">7.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22472 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">34.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22473 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">136.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6300 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated depreciation at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22474 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(52.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16294 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(5.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps8795 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(16.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22475 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(74.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">In relation to right of use assets, increases for the year were mainly related to offices and vehicles included in</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:448.44pt\">the category \u2018other\u2019. There are no restrictions or covenants on the aforementioned right of use assets.</span><span class=\"f charStyle-58d8bcbe ps22539\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps4968 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:200.25pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">right of use assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20559 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18476\">land and buildings<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9724 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps19696\">plant and machinery<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8760 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps22443\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8442 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps22444\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps20561 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9668 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22446 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8444 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22448 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">89.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16274 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">7.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22449 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">29.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8445 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">126.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated depreciation at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22452 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(40.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16277 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(3.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22453 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(16.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8447 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(61.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22454 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22460\">49.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16279 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22485\">3.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22455 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22460\">12.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8449 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22460\">65.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Perimeter effect from business combination<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22457 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22486\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16282 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22458 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8451 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Additions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22461 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">6.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16284 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22462 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22540\">11.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8452 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">18.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Depreciation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22463 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(10.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16286 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22465 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(7.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8453 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(18.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Impairment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22467 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16288 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22486\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22468 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8454 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22469 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16290 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22470 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8455 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22471 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22460\">46.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16292 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22485\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22472 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22460\">16.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22473 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22460\">66.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6300 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22474 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">93.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16294 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">7.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8795 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">28.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22475 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">130.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5134 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated depreciation at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22476 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(47.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16296 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(4.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22477 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(12.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22478 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(64.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23881 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Lease Components in the Statement of Financial Position<span id=\"i04d5a7a1a17f4f86bd78ec08746568e1\"></span></span></div><div class=\"ps23883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps23884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The Group has various agreements in place for the use of offices, vehicles, machinery, shops and other minor</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps23885 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">assets belonging to third parties. Each agreement is subject to a detailed analysis to define whether or not a</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23886 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">right of use/financial liability has to be recognised. Variable lease payments that are not linked to an index or</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23887 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:368.22pt\">rate continue to be charged to the statement of profit or loss as costs for the period.</span></div><div class=\"ps23888 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Lease agreements are generally entered into for a term of 3-10 years but may contain options to extend them.</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.59pt\"> </span></div><div class=\"ps23889 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">The terms of a lease are negotiated individually and may contain a wide range of different terms and conditions.</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps23890 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">Such agreements do not include covenants, but the leased assets may be used to guarantee the liability arising<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23891 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:136.62pt\">from contractual commitments.<span class=\"f ps21\"> </span></span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">The value assigned to the right of use corresponds to the amount of the lease liabilities recognised, plus initial</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">direct costs incurred, lease payments settled on the start date of the agreement or previously and restoration</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">costs, net of any lease incentives received. Restoration costs, which may be recognised in rare cases, normally</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">relate to offices, for which there could be a contractual requirement to restore them to their original state at the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">end of the lease agreement. The Group estimates the restoration obligation based on the agreement with the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">lessor, or by using expert valuations of third parties. The value of the liability, discounted to present value, as</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">determined above, increases the right of use of the underlying asset and a dedicated provision is created to</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:27.02pt\">offset.</span><span class=\"f charStyle-2293a859 ps23892\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">The discount rate used to measure the financial liability is the incremental borrowing rate (\u2018IBR\u2019) when the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">implicit interest rate in the lease agreement cannot be easily determined (explicit interest rates in lease</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">agreements are rare). The incremental borrowing rates used to evaluate leasing contracts are determined by</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">the Group and are revised on a recurring basis; they are applied to all agreements with similar characteristics,</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">which are treated as a single portfolio of agreements. The rates are determined using the average effective debt</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">rate of the subsidiary, appropriately adjusted and the most important elements considered in adjusting the rate</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">are the credit-risk spread of each country observable on the market and the different durations of the lease</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:55.56pt\">agreements.<span class=\"f ps21\"> </span></span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">The term of the lease is calculated considering the non-cancellable period of the lease together with a) the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">periods covered by an option to extend the agreement, if it is reasonably certain that it will be exercised, or b)</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">any period covered by an option to terminate the lease contract, if it is reasonably certain that it will not be</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">exercised. The Group assesses whether it is reasonably certain that any exercising of such options to extend or</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">to terminate the agreements will take place, considering all the relevant factors that create a financial incentive</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:82.77pt\">for such decisions.</span><span class=\"f charStyle-2293a859 ps22412\" style=\"width:13.85pt\">\u00a0 \u00a0  </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:150.01pt\">Changes in the lease payables in </span><span class=\"f charStyle-58d8bcbe ps23893\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps8747\" style=\"width:154.42pt\"> are provided in the following table.</span></div><div class=\"ps23930 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss508 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:77.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1622\"><div><div class=\"ps2579 ss407\"><span class=\"f charStyle-183bdf94 ps132\">lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18010 ss1405\"><div><div class=\"ps5026 ss304\"><span class=\"f charStyle-183bdf94 ps17666\">at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss304\"><span class=\"f charStyle-183bdf94 ps23894\">2024</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23895 ss1405\"><div><div class=\"ps2579 ss304\"><span class=\"f charStyle-183bdf94 ps20392\">addition<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23897 ss1405\"><div><div class=\"ps2579 ss304\"><span class=\"f charStyle-183bdf94 ps23896\">payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23900 ss1405\"><div><div class=\"ps5026 ss304\"><span class=\"f charStyle-183bdf94 ps23898\">interest <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss304\"><span class=\"f charStyle-183bdf94 ps23899\">expenses</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14685 ss1405\"><div><div class=\"ps2579 ss304\"><span class=\"f charStyle-183bdf94 ps23901\">reclassification<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22965 ss1405\"><div><div class=\"ps2578 ss304\"><span class=\"f charStyle-183bdf94 ps6483\">exchange rate <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss304\"><span class=\"f charStyle-183bdf94 ps23902\">differences and </span></div><div class=\"ps2580 ss304\"><span class=\"f charStyle-183bdf94 ps6483\">other changes</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23903 ss1405\"><div><div class=\"ps5026 ss304\"><span class=\"f charStyle-183bdf94 ps17666\">at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss304\"><span class=\"f charStyle-183bdf94 ps23894\">2025</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23904 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22206\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23905 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94 ps22206\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23906 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94 ps22206\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23907 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94 ps22206\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21451 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94 ps22206\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23908 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94 ps22206\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23909 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94 ps22206\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2968 ss1626\"><div><div class=\"ps476 ss407\"><span class=\"f charStyle-183bdf94 ps132\">Within 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23910 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(18.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23911 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23912 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16618\">23.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23913 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14754 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(24.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23914 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23915 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(19.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5727 ss1626\"><div><div class=\"ps476 ss407\"><span class=\"f charStyle-183bdf94 ps132\">Over 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23916 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(58.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23917 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23918 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23919 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23920 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16618\">24.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23921 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23922 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(52.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5196 ss1626\"><div><div class=\"ps485 ss407\"><span class=\"f charStyle-ba8ac8da ps132\">Total lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23923 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps22239\">(77.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23924 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps22239\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23925 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps16618\">23.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23926 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps22215\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23927 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23928 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps16517\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23929 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps22239\">(71.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23961 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:77.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:59.25pt\"></td></tr><tr style=\"height:33.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1827\"><div><div class=\"ps10076 ss407\"><span class=\"f charStyle-183bdf94 ps132\">lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18010 ss1828\"><div><div class=\"ps10103 ss304\"><span class=\"f charStyle-183bdf94 ps17666\">at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps10104 ss304\"><span class=\"f charStyle-183bdf94 ps23894\">2023</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23895 ss1829\"><div><div class=\"ps10076 ss236\"><span class=\"f charStyle-183bdf94 ps23931\">addition<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18012 ss1830\"><div><div class=\"ps10076 ss392\"><span class=\"f charStyle-183bdf94 ps23932\">payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14875 ss1831\"><div><div class=\"ps10076 ss301\"><span class=\"f charStyle-183bdf94 ps13454\">interest expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9724 ss1832\"><div><div class=\"ps10076 ss254\"><span class=\"f charStyle-183bdf94 ps14982\">reclassification<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15303 ss684\"><div><div class=\"ps10076 ss42\"><span class=\"f charStyle-183bdf94 ps13476\">perimeter effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14880 ss1833\"><div><div class=\"ps10407 ss46\"><span class=\"f charStyle-183bdf94 ps5197\">exchange rate <span class=\"f ps21\"> </span></span></div><div class=\"ps10076 ss46\"><span class=\"f charStyle-183bdf94 ps23933\">differences and </span></div><div class=\"ps10408 ss46\"><span class=\"f charStyle-183bdf94 ps5197\">other changes</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps17054 ss1828\"><div><div class=\"ps10103 ss304\"><span class=\"f charStyle-183bdf94 ps17666\">at 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps10104 ss304\"><span class=\"f charStyle-183bdf94 ps23894\">2024</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23934 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22206\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23935 ss244\"><div><div class=\"ps476 ss236\"><span class=\"f charStyle-183bdf94 ps20143\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23936 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps6606\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14900 ss1794\"><div><div class=\"ps476 ss301\"><span class=\"f charStyle-183bdf94 ps23937\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16277 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94 ps23607\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23938 ss43\"><div><div class=\"ps476 ss42\"><span class=\"f charStyle-183bdf94 ps997\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4529 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6845\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23939 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94 ps22206\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1626\"><div><div class=\"ps476 ss407\"><span class=\"f charStyle-183bdf94 ps132\">Within 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23940 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(16.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23941 ss244\"><div><div class=\"ps485 ss236\"><span class=\"f charStyle-183bdf94 ps1008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23942 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps6620\">22.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14905 ss1794\"><div><div class=\"ps485 ss301\"><span class=\"f charStyle-183bdf94 ps6561\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16279 ss259\"><div><div class=\"ps485 ss254\"><span class=\"f charStyle-183bdf94 ps19863\">(24.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15317 ss43\"><div><div class=\"ps485 ss42\"><span class=\"f charStyle-183bdf94 ps23943\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4540 ss47\"><div><div class=\"ps485 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23944 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(18.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1626\"><div><div class=\"ps476 ss407\"><span class=\"f charStyle-183bdf94 ps132\">Over 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23945 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(60.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23947 ss244\"><div><div class=\"ps485 ss236\"><span class=\"f charStyle-183bdf94 ps23946\">(19.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23948 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23950 ss1794\"><div><div class=\"ps485 ss301\"><span class=\"f charStyle-183bdf94 ps23949\">(3.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16282 ss259\"><div><div class=\"ps485 ss254\"><span class=\"f charStyle-183bdf94 ps6553\">24.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23951 ss43\"><div><div class=\"ps485 ss42\"><span class=\"f charStyle-183bdf94 ps23943\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23952 ss47\"><div><div class=\"ps485 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23953 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(58.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1626\"><div><div class=\"ps485 ss407\"><span class=\"f charStyle-ba8ac8da ps132\">Total lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23954 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps22239\">(76.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23955 ss244\"><div><div class=\"ps485 ss236\"><span class=\"f charStyle-ba8ac8da ps23946\">(19.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23956 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-ba8ac8da ps6620\">22.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23957 ss1794\"><div><div class=\"ps485 ss301\"><span class=\"f charStyle-ba8ac8da ps23949\">(3.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16284 ss259\"><div><div class=\"ps485 ss254\"><span class=\"f charStyle-ba8ac8da ps6860\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23958 ss43\"><div><div class=\"ps485 ss42\"><span class=\"f charStyle-ba8ac8da ps23943\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23959 ss47\"><div><div class=\"ps485 ss46\"><span class=\"f charStyle-ba8ac8da ps6856\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23960 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps22239\">(77.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23969 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:91.65pt\">The IBRs applied in </span><span class=\"f charStyle-58d8bcbe ps23963\" style=\"width:22.24pt\">2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23964\" style=\"width:23.06pt\"> and <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23965\" style=\"width:22.24pt\">2024<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23966\" style=\"width:41.8pt\"> were as </span><span class=\"f charStyle-58d8bcbe ps23967\" style=\"width:30.55pt\">follows</span><span class=\"f charStyle-58d8bcbe ps23968\" style=\"width:264.66pt\">. The change in IBR is connected with the macro-economic</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23970 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:40.56pt\">scenario.</span></div><div class=\"ps23991 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1834\"><div><div class=\"ps1094 ss589\"><span class=\"f charStyle-183bdf94 ps132\">applied IBRs for the year ended 31 December 2025<span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16250 ss1836\"><div><div class=\"ps473 ss1835\"><span class=\"f charStyle-183bdf94 ps23972\">within 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14952 ss1836\"><div><div class=\"ps473 ss1835\"><span class=\"f charStyle-183bdf94 ps5517\">from 5 to 10 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23974 ss1836\"><div><div class=\"ps473 ss1835\"><span class=\"f charStyle-183bdf94 ps23973\">over 10 years<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">EUR<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4599 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">3.4</span><span class=\"ps23976\">%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22028 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">3.7</span><span class=\"ps23976\">%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23977 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">3.7</span><span class=\"ps23976\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1126 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps4610 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">4.4</span><span class=\"ps23976\">%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22029 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">4.7</span><span class=\"ps23976\">%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23978 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">4.7</span><span class=\"ps23976\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">GBP<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4619 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">4.6</span><span class=\"ps23976\">%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22030 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">4.9</span><span class=\"ps23976\">%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23979 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">5.1</span><span class=\"ps23976\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1834\"><div><div class=\"ps1094 ss589\"><span class=\"f charStyle-183bdf94 ps132\">applied IBRs for the year ended 31 December 2024<span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23980 ss1836\"><div><div class=\"ps473 ss1835\"><span class=\"f charStyle-183bdf94 ps23972\">within 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22052 ss1836\"><div><div class=\"ps473 ss1835\"><span class=\"f charStyle-183bdf94 ps5517\">from 5 to 10 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23981 ss1836\"><div><div class=\"ps473 ss1835\"><span class=\"f charStyle-183bdf94 ps23973\">over 10 years<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6525 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">EUR<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23982 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">4.0</span><span class=\"ps23976\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23983 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">4.1</span><span class=\"ps23976\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23984 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">3.8</span><span class=\"ps23976\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8003 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23985 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">5.6</span><span class=\"ps23976\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23986 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">5.6</span><span class=\"ps23976\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23987 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">5.4</span><span class=\"ps23976\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18749 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">GBP<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23988 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">5.8</span><span class=\"ps23976\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23989 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">5.8</span><span class=\"ps23976\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23990 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23975\"></span><span class=\"ps23975\">5.8</span><span class=\"ps23976\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23995 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:268.84pt\">The amounts recognised in the cash flow statement were as </span><span class=\"f charStyle-58d8bcbe ps23993\" style=\"width:30.55pt\">follows</span><span class=\"f charStyle-58d8bcbe ps23994\" style=\"width:2.77pt\">.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291pt\"></td><td style=\"padding:0;width:102pt\"></td><td style=\"padding:0;width:102pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16250 ss858\"><div><div class=\"ps485 ss857\"><span class=\"f charStyle-183bdf94 ps23997\">for the year ended<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12111 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7282 ss1687\"><div><div class=\"ps485 ss1327\"><span class=\"f charStyle-183bdf94 ps21630\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Total cash outflow for leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21994 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21734\">(19.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7291 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21734\">(18.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Total cash outflow for interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21995 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps23560\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23595 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps23560\">(3.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">Total cash outflow for lease<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21997 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps21734\">(23.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23597 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps21734\">(21.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23999 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:375.49pt\">The tables below show the breakdown of financial liabilities for leases by asset class.<span class=\"f ps21\"> </span></span></div><div class=\"ps24021 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss590\"><div><div class=\"ps485 ss589\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16250 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps5543\">within 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14952 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps24000\">over 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23974 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94 ps24001\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss590\"><div><div class=\"ps485 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Buildings<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12111 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps12374\">(10.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14693 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps12374\">(40.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24002 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps12374\">(50.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss590\"><div><div class=\"ps485 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Vehicles<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21994 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(5.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24004 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(7.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps24005 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps12374\">(13.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss590\"><div><div class=\"ps485 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Machinery<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21995 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(1.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24006 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(0.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps24007 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss590\"><div><div class=\"ps485 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21997 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(1.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24008 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(3.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps24009 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(5.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss590\"><div><div class=\"ps485 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Land<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21998 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps24010\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24011 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24012 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss590\"><div><div class=\"ps485 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial liabilities for leases as of 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21999 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-ba8ac8da ps12374\">(19.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24013 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-ba8ac8da ps12374\">(52.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24014 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-ba8ac8da ps12374\">(71.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss590\"><div><div class=\"ps485 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial assets for leases as of 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24015 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-ba8ac8da ps24010\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24016 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-ba8ac8da ps24010\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24017 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-ba8ac8da ps24010\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss590\"><div><div class=\"ps485 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial assets and liabilities (net value) as of 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24018 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-ba8ac8da ps12374\">(19.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24019 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-ba8ac8da ps12374\">(52.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24020 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-ba8ac8da ps12374\">(71.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24038 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss590\"><div><div class=\"ps485 ss589\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16250 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps5543\">within 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14952 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps24000\">over 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23974 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps24001\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss590\"><div><div class=\"ps485 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Buildings<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12111 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(9.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14693 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps12374\">(44.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24002 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps12374\">(54.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1838\"><div><div class=\"ps9673 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Vehicles<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21994 ss1839\"><div><div class=\"ps9673 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(7.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24004 ss1839\"><div><div class=\"ps9673 ss1835\"><span class=\"f charStyle-183bdf94 ps12374\">(10.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24005 ss1839\"><div><div class=\"ps9673 ss1835\"><span class=\"f charStyle-183bdf94 ps12374\">(18.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1838\"><div><div class=\"ps9673 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Machinery<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4610 ss1839\"><div><div class=\"ps9673 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22029 ss1839\"><div><div class=\"ps9673 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(1.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23978 ss1839\"><div><div class=\"ps9673 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(3.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"padding:0\"><div class=\"ps2371 ss1838\"><div><div class=\"ps9673 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24022 ss1839\"><div><div class=\"ps9673 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24023 ss1839\"><div><div class=\"ps9673 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24024 ss1839\"><div><div class=\"ps9673 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24025 ss1838\"><div><div class=\"ps9673 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Land<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24026 ss1839\"><div><div class=\"ps9673 ss1835\"><span class=\"f charStyle-183bdf94 ps24010\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24027 ss1839\"><div><div class=\"ps9673 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24028 ss1839\"><div><div class=\"ps9673 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5494 ss590\"><div><div class=\"ps485 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial liabilities for leases as of 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24029 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-ba8ac8da ps12374\">(18.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24030 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-ba8ac8da ps12374\">(58.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24031 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-ba8ac8da ps12374\">(77.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5738 ss590\"><div><div class=\"ps485 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial assets for leases as of 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24032 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-ba8ac8da ps24010\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24033 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-ba8ac8da ps24010\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24034 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-ba8ac8da ps24010\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1159 ss590\"><div><div class=\"ps485 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">Total financial assets and liabilities (net value) as of 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24035 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-ba8ac8da ps12374\">(18.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24036 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-ba8ac8da ps12374\">(58.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24037 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-ba8ac8da ps12374\">(77.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLeasesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-475": {
   "value": "<div class=\"ps21923 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xii.\u00a0  Share of Profit (Loss) of Joint-Ventures<span id=\"i23cab2adac574659b64fe8dd82174abd\"></span></span><span class=\"f charStyle-6c6fcc93 ps21922\"> and Profit (loss) from other investments </span></div><div class=\"ps21925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps21926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:109.45pt\">Joint-venture recognition</span></div><div class=\"ps21927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">A joint-venture exists where there is a joint-control agreement under which the parties that hold joint control,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">have a right to the net assets covered by the agreement. Joint control is the contractually agreed sharing of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21929 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">control under an agreement, which solely exists when decisions on relevant activities require unanimous</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">consensus from all the parties sharing control. The factors considered to determine significant influence or joint</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21932 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:337.17pt\">control are similar to those necessary to determine control over subsidiaries.</span><span class=\"f charStyle-2293a859 ps21931\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps21933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:121.67pt\">Joint-venture measurement<span class=\"f ps21\"> </span></span></div><div class=\"ps21934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">These companies are initially recognised at cost plus acquisition-related costs and are subsequently reported in</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps21935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">the Consolidated Financial Statements using the equity method from the date on which significant influence or</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21936 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:330.54pt\">joint control commences and ending when that influence or control ceases.</span></div><div class=\"ps21937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">If there is a significant loss of influence or joint control, the holding and/or investment is recognised at fair value</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:488.05pt\">and the difference between the fair value and the carrying amount is recorded in the statement of profit or loss.</span></div><div class=\"ps21939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Any committed payments to increment the ownership interest in a joint-venture, in the form of a put and/or call</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.05pt\">option or a combination of both, cannot be estimated and recorded as a financial liability at the time of the</span><span class=\"f charStyle-2293a859 ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps21941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">transaction since the guidance valid for financial instruments does not apply to interests in joint-ventures that are</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">accounted for using the equity method. These written agreements for put and/or call options are derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21943 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">agreements and represented in the Group accounts as financial instruments measured at fair value with an</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impact in the statement of profit or loss. At the time of expiration of the call and/or put options, the derivative is</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">replaced by an increased value of the investment to be recorded against the cash out for the derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21947 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:51.64pt\">settlement. </span><span class=\"f charStyle-2293a859 ps21946\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps21948 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Contingent or variable and committed payments also in the form of an incentive plan granted to personnel of the</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21949 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">joint-venture are recorded as an incremental cost of the investment once the attainment of the performance</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21950 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.3pt\">condition becomes probable, based on the fair value of the replacement award as of the acquisition date.</span></div><div class=\"ps21951 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">The Group assesses the existence of any impairment indicators whenever events or circumstances indicate that</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21952 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">the carrying amount of the investment may not be recoverable; any impairment loss is allocated to the</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21953 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">investment with effect in the statement of profit or loss. If the Group\u2019s interest in any losses of joint-ventures</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21954 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">exceeds the carrying amount of the equity investment in the financial statements, the value of the equity</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21955 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">investment is derecognised, and the Group\u2019s portion of further losses is not reported, unless, and to the extent</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21957 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:324.37pt\">to which, the Group has a legal or implicit obligation to cover such losses.</span><span class=\"f charStyle-2293a859 ps21956\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps21958 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:27.7pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:82.76pt\"><span style=\"background-color:inherit\">The joint-ventures </span></span><span class=\"f charStyle-bdf8be45 ps21965\" style=\"width:96.12pt\"><span style=\"background-color:inherit\">at 31 December 2025</span></span><span class=\"f charStyle-bdf8be45 ps21966\" style=\"width:139.4pt\"><span style=\"background-color:inherit\"> are listed in the following table.</span></span><span class=\"f charStyle-bdf8be45 ps6031\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps4968 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:141pt\"></td><td style=\"padding:0;width:141pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:51.75pt\"></td></tr><tr style=\"height:18pt\"><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1698\"><div><div class=\"ps9853 ss390\"><span class=\"f charStyle-183bdf94 ps21967\">name, activity<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21969 ss1698\"><div><div class=\"ps9853 ss390\"><span class=\"f charStyle-183bdf94 ps21968\">registered office<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21972 ss1699\"><div><div class=\"ps2415 ss168\"><span class=\"f charStyle-40131897 ps18030\">share capital at 31 December </span></div><div class=\"ps2417 ss168\"><span class=\"f charStyle-40131897 ps21970\">2024</span><span class=\"f charStyle-85922b7e ps21971\"><sup>(1)</sup></span></div></div></div></td><td colspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21975 ss1700\"><div><div class=\"ps2415 ss465\"><span class=\"f charStyle-183bdf94 ps21973\">% owned by the <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss465\"><span class=\"f charStyle-183bdf94 ps21974\">company</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21976 ss1701\"><div><div class=\"ps2415 ss254\"><span class=\"f charStyle-183bdf94 ps12457\">direct <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss254\"><span class=\"f charStyle-183bdf94 ps6317\">shareholder</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21978 ss1702\"><div><div class=\"ps2415 ss465\"><span class=\"f charStyle-183bdf94 ps21977\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21980 ss479\"><div><div class=\"ps2415 ss474\"><span class=\"f charStyle-183bdf94 ps21979\">amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21981 ss479\"><div><div class=\"ps2415 ss474\"><span class=\"f charStyle-183bdf94 ps15093\">direct<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21982 ss479\"><div><div class=\"ps2415 ss474\"><span class=\"f charStyle-183bdf94 ps8949\">indirect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:26.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps3322 ss1703\"><div><div class=\"ps1133 ss390\"><span class=\"f charStyle-40131897 ps21983\">Dioniso S.r.l., holding and trading company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21986 ss1703\"><div><div class=\"ps1135 ss390\"><span class=\"f charStyle-183bdf94 ps21984\">Via Franco Sacchetti, 20 Sesto San <span class=\"f ps21\"> </span></span></div><div class=\"ps1137 ss390\"><span class=\"f charStyle-183bdf94 ps21985\">Giovanni, Milan, Italy</span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21988 ss1704\"><div><div class=\"ps1133 ss168\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\">\u20ac<span style=\"display:inline-block;height:5.09pt;width:52.37pt\"></span></span><span class=\"ps21987\">1,000,000</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21989 ss1705\"><div><div class=\"ps1133 ss474\"><span class=\"f charStyle-183bdf94 ps7978\">50.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps21991 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.31pt\">Data from last approved financial statements.</span></div><div class=\"ps22000 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291pt\"></td><td style=\"padding:0;width:204.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16250 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps21993\">investment in joint-ventures<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12111 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-ba8ac8da ps9291\">8.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Share of profit (loss)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21994 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps9291\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Capital injection<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21995 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps9291\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Disposal<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21997 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps21996\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21998 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps21996\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21999 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-ba8ac8da ps21897\">10.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22003 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291pt\"></td><td style=\"padding:0;width:204.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16250 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps21993\">investment in joint-ventures<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12111 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-ba8ac8da ps21897\">32.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Share of profit (loss)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21994 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps19040\">(34.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Capital injection<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21995 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps22002\">11.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21997 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-ba8ac8da ps9291\">8.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22005 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.23pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps22004\" style=\"width:488.85pt\">The share of result does not include the cost associated with the provision recorded to offset the cumulated losses generated by the Japan joint-venture for</span><span class=\"f charStyle-40131897 ps123\" style=\"width:1.94pt\"> </span></div><div class=\"ps22007 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:37.3pt\">\u20ac0.2 million.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-40131897 ps22006\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:34.14pt\">During </span><span class=\"f charStyle-58d8bcbe ps22009\" style=\"width:164.07pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22010\" style=\"width:111.23pt\">, a capital injection of \u20ac</span><span class=\"f charStyle-58d8bcbe ps22011\" style=\"width:13.89pt\">1.0</span><span class=\"f charStyle-58d8bcbe ps22012\" style=\"width:172.89pt\"> million into the Dioniso joint-venture,</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps17308 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:339.06pt\">equally supported by Mo\u00ebt Hennessy, was completed (\u20ac11.0 million in 2024).</span></div><div class=\"ps22014 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:318.84pt\"><span style=\"background-color:inherit\">The following table includes the breakdown of interests in joint-ventures.</span></span></div><div class=\"ps22056 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:89.25pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:72pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:41.25pt\"></td><td style=\"padding:0;width:69pt\"></td><td style=\"padding:0;width:67.5pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1709\"><div><div class=\"ps979 ss1708\"><span class=\"f charStyle-183bdf94 ps22015\">name of entity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22018 ss1652\"><div><div class=\"ps2776 ss269\"><span class=\"f charStyle-183bdf94 ps22016\">country of <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss269\"><span class=\"f charStyle-183bdf94 ps22017\">business</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22021 ss445\"><div><div class=\"ps2776 ss433\"><span class=\"f charStyle-183bdf94 ps22019\">% of ownership <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss433\"><span class=\"f charStyle-183bdf94 ps22020\">interest</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22022 ss1434\"><div><div class=\"ps979 ss199\"><span class=\"f charStyle-183bdf94 ps11958\">nature of relationship<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22024 ss542\"><div><div class=\"ps2776 ss536\"><span class=\"f charStyle-183bdf94 ps22023\">measurement <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss536\"><span class=\"f charStyle-183bdf94 ps13560\">method</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11744 ss231\"><div><div class=\"ps979 ss214\"><span class=\"f charStyle-183bdf94 ps22025\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14952 ss1710\"><div><div class=\"ps979 ss1244\"><span class=\"f charStyle-183bdf94 ps22026\">carrying amount<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22028 ss1711\"><div><div class=\"ps485 ss1244\"><span class=\"f charStyle-183bdf94 ps22027\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22029 ss220\"><div><div class=\"ps476 ss219\"><span class=\"f charStyle-183bdf94 ps6975\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18738 ss1642\"><div><div class=\"ps476 ss286\"><span class=\"f charStyle-183bdf94 ps4365\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22030 ss220\"><div><div class=\"ps476 ss219\"><span class=\"f charStyle-183bdf94 ps6981\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22032 ss1642\"><div><div class=\"ps476 ss286\"><span class=\"f charStyle-183bdf94 ps22031\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1712\"><div><div class=\"ps485 ss1708\"><span class=\"f charStyle-183bdf94 ps132\">Dioniso Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22033 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-183bdf94 ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22036 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22034\"></span><span class=\"ps22034\">50<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps22035\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22037 ss200\"><div><div class=\"ps6279 ss199\"><span class=\"f charStyle-d669f8f1 ps17720\">Joint-venture<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22039 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps22038\">Equity method<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22040 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps13328\">EUR<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22041 ss220\"><div><div class=\"ps485 ss219\"><span class=\"f charStyle-183bdf94 ps7011\">10.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22042 ss1642\"><div><div class=\"ps485 ss286\"><span class=\"f charStyle-183bdf94 ps20590\">8.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1712\"><div><div class=\"ps485 ss1708\"><span class=\"f charStyle-183bdf94 ps132\">Spiritus Co. Ltd.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22043 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-183bdf94 ps132\">Taiwan<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22047 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-a29ad9d0 ps22044\">'</span><span class=\"f charStyle-40131897 ps22045\">-%</span><span class=\"f charStyle-85922b7e ps22046\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22048 ss200\"><div><div class=\"ps6279 ss199\"><span class=\"f charStyle-d669f8f1 ps17720\">Joint-venture<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22049 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps22038\">Equity method<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22051 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps22050\">TWD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22052 ss220\"><div><div class=\"ps485 ss219\"><span class=\"f charStyle-183bdf94 ps6988\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22053 ss1642\"><div><div class=\"ps485 ss286\"><span class=\"f charStyle-183bdf94 ps20590\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-ba8ac8da ps132\">Total investments in joint-ventures<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22054 ss220\"><div><div class=\"ps485 ss219\"><span class=\"f charStyle-ba8ac8da ps7011\">10.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22055 ss1642\"><div><div class=\"ps485 ss286\"><span class=\"f charStyle-ba8ac8da ps20590\">8.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22057 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:178.78pt\">Investment in Spiritus Co. Ltd. was disposed in July 2025.</span></div><div class=\"ps22058 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:449.34pt\">The key financials, asset and profit or loss figures for the joint-ventures are shown in the tables below.</span></div><div class=\"ps22062 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Highlights-Dioniso Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5024 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps22060\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22061 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps22060\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6072 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6073 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Revenues<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6075 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">46.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6076 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">60.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Net income (loss) of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6078 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6080 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6084\">(63.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Total assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6082 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">49.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6083 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">57.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Net assets from local financial statements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6085 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">35.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6087 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">31.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Adjustments for equity method<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6088 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6084\">(15.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6089 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6084\">(14.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Underlying net assets for Campari Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6090 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">20.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6091 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">17.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Group's share of net assets (50%)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6092 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-ba8ac8da ps6081\">10.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6093 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-ba8ac8da ps4314\">8.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22064 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">On 6 October 2025, Dioniso completed the sale of its stake in Tannico to a private industry player. This decision</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps22065 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">marks the end of its involvement in the Italian online wine and spirits business and follows a strategic</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps22066 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">realignment of priorities jointly undertaken by both partners, Campari Group and Mo\u00ebt Hennessy. The French e-</span></div><div class=\"ps22067 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">commerce platform Ventealapropriete.com will remain within the scope of Dioniso Group (for more information</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22068 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">refer to 'Significant Events of the Year' paragraph in the Management Board Report). The transaction generated</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps22069 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:438.76pt\">a gain of \u20ac4.9 million, reported in the share of profit (loss) of joint-ventures financial statements line.</span></div><div class=\"ps22071 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">In connection with the establishment of the joint-venture in Spiritus Co Ltd., commitments to increment the</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">ownership in the company existed in the form of put and/or call options elected as derivative financial</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:445.81pt\">instruments measured at fair value with impact in the Campari Group statement of profit or loss. </span><span class=\"f charStyle-58d8bcbe ps22072\" style=\"width:17.41pt\">On </span><span class=\"f charStyle-58d8bcbe ps22073\" style=\"width:25.76pt\">17 Ju</span><span class=\"f charStyle-58d8bcbe ps22074\" style=\"width:7.22pt\">ly</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">2025, the Group resolved to exercise the put options. Consequently, the derivatives position was reclassified as</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">an in-flow transaction, enabling the Group to exit the investment, with no material impact on the Group\u2019s</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:39.44pt\">financial </span><span class=\"f charStyle-58d8bcbe ps22075\" style=\"width:56.12pt\">performance</span><span class=\"f charStyle-58d8bcbe ps22076\" style=\"width:2.77pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-474": {
   "value": "<div class=\"ps21923 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xii.\u00a0  Share of Profit (Loss) of Joint-Ventures<span id=\"i23cab2adac574659b64fe8dd82174abd\"></span></span><span class=\"f charStyle-6c6fcc93 ps21922\"> and Profit (loss) from other investments </span></div><div class=\"ps21925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps21926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:109.45pt\">Joint-venture recognition</span></div><div class=\"ps21927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">A joint-venture exists where there is a joint-control agreement under which the parties that hold joint control,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">have a right to the net assets covered by the agreement. Joint control is the contractually agreed sharing of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21929 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">control under an agreement, which solely exists when decisions on relevant activities require unanimous</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">consensus from all the parties sharing control. The factors considered to determine significant influence or joint</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21932 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:337.17pt\">control are similar to those necessary to determine control over subsidiaries.</span><span class=\"f charStyle-2293a859 ps21931\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps21933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:121.67pt\">Joint-venture measurement<span class=\"f ps21\"> </span></span></div><div class=\"ps21934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">These companies are initially recognised at cost plus acquisition-related costs and are subsequently reported in</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps21935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">the Consolidated Financial Statements using the equity method from the date on which significant influence or</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21936 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:330.54pt\">joint control commences and ending when that influence or control ceases.</span></div><div class=\"ps21937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">If there is a significant loss of influence or joint control, the holding and/or investment is recognised at fair value</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:488.05pt\">and the difference between the fair value and the carrying amount is recorded in the statement of profit or loss.</span></div><div class=\"ps21939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Any committed payments to increment the ownership interest in a joint-venture, in the form of a put and/or call</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.05pt\">option or a combination of both, cannot be estimated and recorded as a financial liability at the time of the</span><span class=\"f charStyle-2293a859 ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps21941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">transaction since the guidance valid for financial instruments does not apply to interests in joint-ventures that are</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">accounted for using the equity method. These written agreements for put and/or call options are derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21943 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">agreements and represented in the Group accounts as financial instruments measured at fair value with an</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impact in the statement of profit or loss. At the time of expiration of the call and/or put options, the derivative is</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">replaced by an increased value of the investment to be recorded against the cash out for the derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21947 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:51.64pt\">settlement. </span><span class=\"f charStyle-2293a859 ps21946\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps21948 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Contingent or variable and committed payments also in the form of an incentive plan granted to personnel of the</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21949 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">joint-venture are recorded as an incremental cost of the investment once the attainment of the performance</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21950 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.3pt\">condition becomes probable, based on the fair value of the replacement award as of the acquisition date.</span></div><div class=\"ps21951 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">The Group assesses the existence of any impairment indicators whenever events or circumstances indicate that</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21952 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">the carrying amount of the investment may not be recoverable; any impairment loss is allocated to the</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21953 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">investment with effect in the statement of profit or loss. If the Group\u2019s interest in any losses of joint-ventures</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21954 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">exceeds the carrying amount of the equity investment in the financial statements, the value of the equity</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21955 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">investment is derecognised, and the Group\u2019s portion of further losses is not reported, unless, and to the extent</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21957 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:324.37pt\">to which, the Group has a legal or implicit obligation to cover such losses.</span><span class=\"f charStyle-2293a859 ps21956\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps21958 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:27.7pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:82.76pt\"><span style=\"background-color:inherit\">The joint-ventures </span></span><span class=\"f charStyle-bdf8be45 ps21965\" style=\"width:96.12pt\"><span style=\"background-color:inherit\">at 31 December 2025</span></span><span class=\"f charStyle-bdf8be45 ps21966\" style=\"width:139.4pt\"><span style=\"background-color:inherit\"> are listed in the following table.</span></span><span class=\"f charStyle-bdf8be45 ps6031\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps4968 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:141pt\"></td><td style=\"padding:0;width:141pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:51.75pt\"></td></tr><tr style=\"height:18pt\"><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1698\"><div><div class=\"ps9853 ss390\"><span class=\"f charStyle-183bdf94 ps21967\">name, activity<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21969 ss1698\"><div><div class=\"ps9853 ss390\"><span class=\"f charStyle-183bdf94 ps21968\">registered office<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21972 ss1699\"><div><div class=\"ps2415 ss168\"><span class=\"f charStyle-40131897 ps18030\">share capital at 31 December </span></div><div class=\"ps2417 ss168\"><span class=\"f charStyle-40131897 ps21970\">2024</span><span class=\"f charStyle-85922b7e ps21971\"><sup>(1)</sup></span></div></div></div></td><td colspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21975 ss1700\"><div><div class=\"ps2415 ss465\"><span class=\"f charStyle-183bdf94 ps21973\">% owned by the <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss465\"><span class=\"f charStyle-183bdf94 ps21974\">company</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21976 ss1701\"><div><div class=\"ps2415 ss254\"><span class=\"f charStyle-183bdf94 ps12457\">direct <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss254\"><span class=\"f charStyle-183bdf94 ps6317\">shareholder</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21978 ss1702\"><div><div class=\"ps2415 ss465\"><span class=\"f charStyle-183bdf94 ps21977\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21980 ss479\"><div><div class=\"ps2415 ss474\"><span class=\"f charStyle-183bdf94 ps21979\">amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21981 ss479\"><div><div class=\"ps2415 ss474\"><span class=\"f charStyle-183bdf94 ps15093\">direct<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21982 ss479\"><div><div class=\"ps2415 ss474\"><span class=\"f charStyle-183bdf94 ps8949\">indirect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:26.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps3322 ss1703\"><div><div class=\"ps1133 ss390\"><span class=\"f charStyle-40131897 ps21983\">Dioniso S.r.l., holding and trading company</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21986 ss1703\"><div><div class=\"ps1135 ss390\"><span class=\"f charStyle-183bdf94 ps21984\">Via Franco Sacchetti, 20 Sesto San <span class=\"f ps21\"> </span></span></div><div class=\"ps1137 ss390\"><span class=\"f charStyle-183bdf94 ps21985\">Giovanni, Milan, Italy</span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21988 ss1704\"><div><div class=\"ps1133 ss168\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\">\u20ac<span style=\"display:inline-block;height:5.09pt;width:52.37pt\"></span></span><span class=\"ps21987\">1,000,000</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21989 ss1705\"><div><div class=\"ps1133 ss474\"><span class=\"f charStyle-183bdf94 ps7978\">50.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps21991 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.31pt\">Data from last approved financial statements.</span></div><div class=\"ps22000 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291pt\"></td><td style=\"padding:0;width:204.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16250 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps21993\">investment in joint-ventures<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12111 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-ba8ac8da ps9291\">8.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Share of profit (loss)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21994 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps9291\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Capital injection<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21995 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps9291\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Disposal<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21997 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps21996\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21998 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps21996\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21999 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-ba8ac8da ps21897\">10.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22003 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:291pt\"></td><td style=\"padding:0;width:204.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16250 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps21993\">investment in joint-ventures<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12111 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-ba8ac8da ps21897\">32.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Share of profit (loss)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21994 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps19040\">(34.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-183bdf94 ps132\">Capital injection<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21995 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-183bdf94 ps22002\">11.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss590\"><div><div class=\"ps476 ss589\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21997 ss1707\"><div><div class=\"ps476 ss1706\"><span class=\"f charStyle-ba8ac8da ps9291\">8.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22005 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.23pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps22004\" style=\"width:488.85pt\">The share of result does not include the cost associated with the provision recorded to offset the cumulated losses generated by the Japan joint-venture for</span><span class=\"f charStyle-40131897 ps123\" style=\"width:1.94pt\"> </span></div><div class=\"ps22007 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:37.3pt\">\u20ac0.2 million.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-40131897 ps22006\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:34.14pt\">During </span><span class=\"f charStyle-58d8bcbe ps22009\" style=\"width:164.07pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22010\" style=\"width:111.23pt\">, a capital injection of \u20ac</span><span class=\"f charStyle-58d8bcbe ps22011\" style=\"width:13.89pt\">1.0</span><span class=\"f charStyle-58d8bcbe ps22012\" style=\"width:172.89pt\"> million into the Dioniso joint-venture,</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps17308 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:339.06pt\">equally supported by Mo\u00ebt Hennessy, was completed (\u20ac11.0 million in 2024).</span></div><div class=\"ps22014 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:318.84pt\"><span style=\"background-color:inherit\">The following table includes the breakdown of interests in joint-ventures.</span></span></div><div class=\"ps22056 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:89.25pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:72pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:41.25pt\"></td><td style=\"padding:0;width:69pt\"></td><td style=\"padding:0;width:67.5pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1709\"><div><div class=\"ps979 ss1708\"><span class=\"f charStyle-183bdf94 ps22015\">name of entity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22018 ss1652\"><div><div class=\"ps2776 ss269\"><span class=\"f charStyle-183bdf94 ps22016\">country of <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss269\"><span class=\"f charStyle-183bdf94 ps22017\">business</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22021 ss445\"><div><div class=\"ps2776 ss433\"><span class=\"f charStyle-183bdf94 ps22019\">% of ownership <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss433\"><span class=\"f charStyle-183bdf94 ps22020\">interest</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22022 ss1434\"><div><div class=\"ps979 ss199\"><span class=\"f charStyle-183bdf94 ps11958\">nature of relationship<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22024 ss542\"><div><div class=\"ps2776 ss536\"><span class=\"f charStyle-183bdf94 ps22023\">measurement <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss536\"><span class=\"f charStyle-183bdf94 ps13560\">method</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11744 ss231\"><div><div class=\"ps979 ss214\"><span class=\"f charStyle-183bdf94 ps22025\">currency<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14952 ss1710\"><div><div class=\"ps979 ss1244\"><span class=\"f charStyle-183bdf94 ps22026\">carrying amount<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22028 ss1711\"><div><div class=\"ps485 ss1244\"><span class=\"f charStyle-183bdf94 ps22027\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22029 ss220\"><div><div class=\"ps476 ss219\"><span class=\"f charStyle-183bdf94 ps6975\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18738 ss1642\"><div><div class=\"ps476 ss286\"><span class=\"f charStyle-183bdf94 ps4365\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22030 ss220\"><div><div class=\"ps476 ss219\"><span class=\"f charStyle-183bdf94 ps6981\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22032 ss1642\"><div><div class=\"ps476 ss286\"><span class=\"f charStyle-183bdf94 ps22031\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1712\"><div><div class=\"ps485 ss1708\"><span class=\"f charStyle-183bdf94 ps132\">Dioniso Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22033 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-183bdf94 ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22036 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22034\"></span><span class=\"ps22034\">50<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps22035\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22037 ss200\"><div><div class=\"ps6279 ss199\"><span class=\"f charStyle-d669f8f1 ps17720\">Joint-venture<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22039 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps22038\">Equity method<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22040 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps13328\">EUR<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22041 ss220\"><div><div class=\"ps485 ss219\"><span class=\"f charStyle-183bdf94 ps7011\">10.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22042 ss1642\"><div><div class=\"ps485 ss286\"><span class=\"f charStyle-183bdf94 ps20590\">8.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1712\"><div><div class=\"ps485 ss1708\"><span class=\"f charStyle-183bdf94 ps132\">Spiritus Co. Ltd.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22043 ss270\"><div><div class=\"ps485 ss269\"><span class=\"f charStyle-183bdf94 ps132\">Taiwan<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22047 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-a29ad9d0 ps22044\">'</span><span class=\"f charStyle-40131897 ps22045\">-%</span><span class=\"f charStyle-85922b7e ps22046\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22048 ss200\"><div><div class=\"ps6279 ss199\"><span class=\"f charStyle-d669f8f1 ps17720\">Joint-venture<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22049 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps22038\">Equity method<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22051 ss224\"><div><div class=\"ps485 ss214\"><span class=\"f charStyle-183bdf94 ps22050\">TWD<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22052 ss220\"><div><div class=\"ps485 ss219\"><span class=\"f charStyle-183bdf94 ps6988\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22053 ss1642\"><div><div class=\"ps485 ss286\"><span class=\"f charStyle-183bdf94 ps20590\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-ba8ac8da ps132\">Total investments in joint-ventures<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22054 ss220\"><div><div class=\"ps485 ss219\"><span class=\"f charStyle-ba8ac8da ps7011\">10.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22055 ss1642\"><div><div class=\"ps485 ss286\"><span class=\"f charStyle-ba8ac8da ps20590\">8.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22057 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:178.78pt\">Investment in Spiritus Co. Ltd. was disposed in July 2025.</span></div><div class=\"ps22058 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:449.34pt\">The key financials, asset and profit or loss figures for the joint-ventures are shown in the tables below.</span></div><div class=\"ps22062 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Highlights-Dioniso Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5024 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps22060\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22061 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps22060\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6072 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6073 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Revenues<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6075 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">46.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6076 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">60.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Net income (loss) of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6078 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6080 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6084\">(63.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Total assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6082 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">49.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6083 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">57.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Net assets from local financial statements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6085 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">35.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6087 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">31.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Adjustments for equity method<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6088 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6084\">(15.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6089 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6084\">(14.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Underlying net assets for Campari Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6090 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">20.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6091 ss339\"><div><div class=\"ps485 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">17.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss340\"><div><div class=\"ps485 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Group's share of net assets (50%)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6092 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-ba8ac8da ps6081\">10.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6093 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-ba8ac8da ps4314\">8.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22064 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">On 6 October 2025, Dioniso completed the sale of its stake in Tannico to a private industry player. This decision</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps22065 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">marks the end of its involvement in the Italian online wine and spirits business and follows a strategic</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps22066 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">realignment of priorities jointly undertaken by both partners, Campari Group and Mo\u00ebt Hennessy. The French e-</span></div><div class=\"ps22067 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">commerce platform Ventealapropriete.com will remain within the scope of Dioniso Group (for more information</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22068 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">refer to 'Significant Events of the Year' paragraph in the Management Board Report). The transaction generated</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps22069 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:438.76pt\">a gain of \u20ac4.9 million, reported in the share of profit (loss) of joint-ventures financial statements line.</span></div><div class=\"ps22071 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">In connection with the establishment of the joint-venture in Spiritus Co Ltd., commitments to increment the</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">ownership in the company existed in the form of put and/or call options elected as derivative financial</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:445.81pt\">instruments measured at fair value with impact in the Campari Group statement of profit or loss. </span><span class=\"f charStyle-58d8bcbe ps22072\" style=\"width:17.41pt\">On </span><span class=\"f charStyle-58d8bcbe ps22073\" style=\"width:25.76pt\">17 Ju</span><span class=\"f charStyle-58d8bcbe ps22074\" style=\"width:7.22pt\">ly</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">2025, the Group resolved to exercise the put options. Consequently, the derivatives position was reclassified as</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">an in-flow transaction, enabling the Group to exit the investment, with no material impact on the Group\u2019s</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:39.44pt\">financial </span><span class=\"f charStyle-58d8bcbe ps22075\" style=\"width:56.12pt\">performance</span><span class=\"f charStyle-58d8bcbe ps22076\" style=\"width:2.77pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-473": {
   "value": "<div class=\"ps21923 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xii.\u00a0  Share of Profit (Loss) of Joint-Ventures<span id=\"i23cab2adac574659b64fe8dd82174abd\"></span></span><span class=\"f charStyle-6c6fcc93 ps21922\"> and Profit (loss) from other investments </span></div><div class=\"ps21925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps21926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:109.45pt\">Joint-venture recognition</span></div><div class=\"ps21927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">A joint-venture exists where there is a joint-control agreement under which the parties that hold joint control,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">have a right to the net assets covered by the agreement. Joint control is the contractually agreed sharing of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21929 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">control under an agreement, which solely exists when decisions on relevant activities require unanimous</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">consensus from all the parties sharing control. The factors considered to determine significant influence or joint</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21932 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:337.17pt\">control are similar to those necessary to determine control over subsidiaries.</span><span class=\"f charStyle-2293a859 ps21931\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps21933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:121.67pt\">Joint-venture measurement<span class=\"f ps21\"> </span></span></div><div class=\"ps21934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">These companies are initially recognised at cost plus acquisition-related costs and are subsequently reported in</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps21935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">the Consolidated Financial Statements using the equity method from the date on which significant influence or</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21936 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:330.54pt\">joint control commences and ending when that influence or control ceases.</span></div><div class=\"ps21937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">If there is a significant loss of influence or joint control, the holding and/or investment is recognised at fair value</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:488.05pt\">and the difference between the fair value and the carrying amount is recorded in the statement of profit or loss.</span></div><div class=\"ps21939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Any committed payments to increment the ownership interest in a joint-venture, in the form of a put and/or call</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.05pt\">option or a combination of both, cannot be estimated and recorded as a financial liability at the time of the</span><span class=\"f charStyle-2293a859 ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps21941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">transaction since the guidance valid for financial instruments does not apply to interests in joint-ventures that are</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">accounted for using the equity method. These written agreements for put and/or call options are derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21943 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">agreements and represented in the Group accounts as financial instruments measured at fair value with an</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impact in the statement of profit or loss. At the time of expiration of the call and/or put options, the derivative is</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">replaced by an increased value of the investment to be recorded against the cash out for the derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21947 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:51.64pt\">settlement. </span><span class=\"f charStyle-2293a859 ps21946\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps21948 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Contingent or variable and committed payments also in the form of an incentive plan granted to personnel of the</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21949 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">joint-venture are recorded as an incremental cost of the investment once the attainment of the performance</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21950 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.3pt\">condition becomes probable, based on the fair value of the replacement award as of the acquisition date.</span></div><div class=\"ps21951 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">The Group assesses the existence of any impairment indicators whenever events or circumstances indicate that</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21952 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">the carrying amount of the investment may not be recoverable; any impairment loss is allocated to the</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21953 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">investment with effect in the statement of profit or loss. If the Group\u2019s interest in any losses of joint-ventures</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21954 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">exceeds the carrying amount of the equity investment in the financial statements, the value of the equity</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21955 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">investment is derecognised, and the Group\u2019s portion of further losses is not reported, unless, and to the extent</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:324.37pt\">to which, the Group has a legal or implicit obligation to cover such losses.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-472": {
   "value": "<div class=\"ps21923 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xii.\u00a0  Share of Profit (Loss) of Joint-Ventures<span id=\"i23cab2adac574659b64fe8dd82174abd\"></span></span><span class=\"f charStyle-6c6fcc93 ps21922\"> and Profit (loss) from other investments </span></div><div class=\"ps21933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:121.67pt\">Joint-venture measurement<span class=\"f ps21\"> </span></span></div><div class=\"ps21939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Any committed payments to increment the ownership interest in a joint-venture, in the form of a put and/or call</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.05pt\">option or a combination of both, cannot be estimated and recorded as a financial liability at the time of the</span><span class=\"f charStyle-2293a859 ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps21941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">transaction since the guidance valid for financial instruments does not apply to interests in joint-ventures that are</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">accounted for using the equity method. These written agreements for put and/or call options are derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21943 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">agreements and represented in the Group accounts as financial instruments measured at fair value with an</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impact in the statement of profit or loss. At the time of expiration of the call and/or put options, the derivative is</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">replaced by an increased value of the investment to be recorded against the cash out for the derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:51.64pt\">settlement. </span><div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:238.88pt\">Financial liabilities, including trade and other payables</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Financial liabilities include financial payables, bonds and loans due to banks, which, in turn, include the negative</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">fair value of financial derivatives, trade payables and other payables including contingent consideration and</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:313.32pt\">variable payments deriving from business combinations or asset deals.</span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Financial liabilities are classified and measured at amortised cost, except for financial liabilities that are initially<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">measured at fair value, i.e., derivative instruments, financial liabilities relating to earn-out linked to business</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.29pt\">combinations and financial liabilities for put options over non-controlling interests.</span><span class=\"f charStyle-2293a859 ps23219\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Trade and other payables are initially recognised at fair value including transaction costs and subsequently</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:112.19pt\">carried at amortised cost.</span><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">When an existing financial liability is replaced by another from the same lender on substantially different terms,</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">derecognition of the original liability and the recognition of a new liability. The difference in the respective</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:283.26pt\">carrying amounts is recognised in the statement of profit or loss.</span><span class=\"f charStyle-2293a859 ps23221\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">For detailed information on the accounting policy for put and call options over joint-ventures agreements, please</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:423.16pt\">refer to note 3 xii-\u2018Share of profit (loss) of joint-ventures and Profit (loss) from other investments\u2019</span><span class=\"f charStyle-2293a859 ps23222\" style=\"width:2.77pt\">.</span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:92.79pt\">Financial guarantees</span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">The Group recognises financial guarantees as a financial liability if the likelihood of these guarantees being</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">called is assessed not to be remote and the Group is expected to be liable for any legal obligation in respect of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">these financial guarantee agreements. Financial guarantee contract liabilities are measured initially at their fair</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">value, with subsequent remeasurement impacting profit or loss. They are represented as a long- or short-term</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">financial liability, depending on the time of the expected execution of the guarantees. If the likelihood of these</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">guarantees being called is assessed to be remote, they are treated as commitments with disclosure</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">requirements only. This occurs when they are represented as other forms of security in favour of third parties,</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:361.64pt\">such as customs guarantees for excise duties and guarantees to grant credit lines</span><span class=\"f charStyle-2293a859 ps20057\" style=\"width:2.77pt\">.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-471": {
   "value": "<div class=\"ps21923 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xii.\u00a0  Share of Profit (Loss) of Joint-Ventures<span id=\"i23cab2adac574659b64fe8dd82174abd\"></span></span><span class=\"f charStyle-6c6fcc93 ps21922\"> and Profit (loss) from other investments </span></div><div class=\"ps21925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps21926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:109.45pt\">Joint-venture recognition</span></div><div class=\"ps21927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">A joint-venture exists where there is a joint-control agreement under which the parties that hold joint control,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">have a right to the net assets covered by the agreement. Joint control is the contractually agreed sharing of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps21929 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">control under an agreement, which solely exists when decisions on relevant activities require unanimous</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">consensus from all the parties sharing control. The factors considered to determine significant influence or joint</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps21932 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:337.17pt\">control are similar to those necessary to determine control over subsidiaries.</span><span class=\"f charStyle-2293a859 ps21931\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps21933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:121.67pt\">Joint-venture measurement<span class=\"f ps21\"> </span></span></div><div class=\"ps21934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">These companies are initially recognised at cost plus acquisition-related costs and are subsequently reported in</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps21935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">the Consolidated Financial Statements using the equity method from the date on which significant influence or</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21936 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:330.54pt\">joint control commences and ending when that influence or control ceases.</span></div><div class=\"ps21937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">If there is a significant loss of influence or joint control, the holding and/or investment is recognised at fair value</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:488.05pt\">and the difference between the fair value and the carrying amount is recorded in the statement of profit or loss.</span></div><div class=\"ps21939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Any committed payments to increment the ownership interest in a joint-venture, in the form of a put and/or call</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.05pt\">option or a combination of both, cannot be estimated and recorded as a financial liability at the time of the</span><span class=\"f charStyle-2293a859 ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps21941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">transaction since the guidance valid for financial instruments does not apply to interests in joint-ventures that are</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">accounted for using the equity method. These written agreements for put and/or call options are derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21943 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">agreements and represented in the Group accounts as financial instruments measured at fair value with an</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impact in the statement of profit or loss. At the time of expiration of the call and/or put options, the derivative is</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps21945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">replaced by an increased value of the investment to be recorded against the cash out for the derivative</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps21947 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:51.64pt\">settlement. </span><span class=\"f charStyle-2293a859 ps21946\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps21948 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Contingent or variable and committed payments also in the form of an incentive plan granted to personnel of the</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21949 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">joint-venture are recorded as an incremental cost of the investment once the attainment of the performance</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps21950 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.3pt\">condition becomes probable, based on the fair value of the replacement award as of the acquisition date.</span></div><div class=\"ps21951 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">The Group assesses the existence of any impairment indicators whenever events or circumstances indicate that</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21952 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">the carrying amount of the investment may not be recoverable; any impairment loss is allocated to the</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps21953 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">investment with effect in the statement of profit or loss. If the Group\u2019s interest in any losses of joint-ventures</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps21954 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">exceeds the carrying amount of the equity investment in the financial statements, the value of the equity</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps21955 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">investment is derecognised, and the Group\u2019s portion of further losses is not reported, unless, and to the extent</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:324.37pt\">to which, the Group has a legal or implicit obligation to cover such losses.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-481": {
   "value": "<div class=\"ps20082 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xiii.\u00a0  Taxation<span id=\"iae84338576634d61a4c719a9313cd6f9\"></span></span></div><div class=\"ps1484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Current tax is based on taxable profit for the year. Taxable profit is different from accounting profit due to</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">temporary differences between accounting and tax treatments and due to items that are never taxable or tax-</span></div><div class=\"ps9922 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:448.66pt\">deductible. Tax benefits are not recognised unless it is probable that the tax positions are sustainable.</span></div><div class=\"ps9923 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">In preparing the taxation estimates, a detailed assessment is performed considering uncertainties regarding the</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps9924 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">tax treatment of transactions carried out, which could give rise to disputes with the tax authorities, with related</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">tax liabilities included in current liabilities. Current tax assets and liabilities are offset when these relate to<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps8834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">income taxes levied by the same tax authority and a legal right of set-off exists, provided that the realisation of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:305.3pt\">the asset and the settlement of the liability take place simultaneously.</span></div><div class=\"ps8835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:432.14pt\">Other non-income taxes, such as property and capital taxes, are included in operating expenses.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps22077\" style=\"width:64.09pt\"> Penalties and</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8836 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">interest on tax liabilities are included in other operating income and expenses and financial income and</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps2266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">expenses, respectively, unless they qualify as income taxes based on local legislation, being in that case<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps8837 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:118.87pt\">classified as income taxes.</span></div><div class=\"ps2090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Deferred tax assets and liabilities are calculated on all temporary differences between the asset and liability</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps9926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">values recorded in the financial statements and the corresponding values recognised for tax purposes using the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps9927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">liability method. No deferred tax liability is provided in respect of any future dividend distributions of foreign<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">subsidiaries where the Group is able to control those, and it is probable that earnings will not be remitted in the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:304.95pt\">foreseeable future or where no liability would arise on the remittance.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-480": {
   "value": "<div class=\"ps20082 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xiii.\u00a0  Taxation<span id=\"iae84338576634d61a4c719a9313cd6f9\"></span></span></div><div class=\"ps1484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Current tax is based on taxable profit for the year. Taxable profit is different from accounting profit due to</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">temporary differences between accounting and tax treatments and due to items that are never taxable or tax-</span></div><div class=\"ps9922 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:448.66pt\">deductible. Tax benefits are not recognised unless it is probable that the tax positions are sustainable.</span></div><div class=\"ps9923 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">In preparing the taxation estimates, a detailed assessment is performed considering uncertainties regarding the</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps9924 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">tax treatment of transactions carried out, which could give rise to disputes with the tax authorities, with related</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">tax liabilities included in current liabilities. Current tax assets and liabilities are offset when these relate to<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps8834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">income taxes levied by the same tax authority and a legal right of set-off exists, provided that the realisation of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:305.3pt\">the asset and the settlement of the liability take place simultaneously.</span></div><div class=\"ps8835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:432.14pt\">Other non-income taxes, such as property and capital taxes, are included in operating expenses.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps22077\" style=\"width:64.09pt\"> Penalties and</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8836 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">interest on tax liabilities are included in other operating income and expenses and financial income and</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps2266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">expenses, respectively, unless they qualify as income taxes based on local legislation, being in that case<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps8837 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:118.87pt\">classified as income taxes.</span></div><div class=\"ps2090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Deferred tax assets and liabilities are calculated on all temporary differences between the asset and liability</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps9926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">values recorded in the financial statements and the corresponding values recognised for tax purposes using the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps9927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">liability method. No deferred tax liability is provided in respect of any future dividend distributions of foreign<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">subsidiaries where the Group is able to control those, and it is probable that earnings will not be remitted in the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps9928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:304.95pt\">foreseeable future or where no liability would arise on the remittance.</span><span class=\"f charStyle-2293a859 ps22078\" style=\"width:16.62pt\">\u00a0 \u00a0 \u00a0 </span><span class=\"f charStyle-2293a859 ps22079\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Details of current and deferred taxes included in the Group\u2019s statement of profit or loss and statement of other</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:136.12pt\">comprehensive income are as </span><span class=\"f charStyle-58d8bcbe ps22080\" style=\"width:30.55pt\">follows</span><span class=\"f charStyle-58d8bcbe ps6262\" style=\"width:2.77pt\">.</span></div><div class=\"ps22099 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:272.25pt\"></td><td style=\"padding:0;width:111.75pt\"></td><td style=\"padding:0;width:111.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22082 ss1579\"><div><div class=\"ps476 ss1578\"><span class=\"f charStyle-183bdf94 ps22081\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22083 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps16226\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22084 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps16226\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22085 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps6708\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6322 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps6708\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">- current taxes for the year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22087 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22086\">(117.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6335 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22088\">(104.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">- current taxes relating to previous years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22090 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22089\">1.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6349 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22091\">16.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">- deferred tax expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22093 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22092\">(11.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9008 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22091\">19.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">- accruals and release for tax risks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22095 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22094\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps9021 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22089\">5.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-ba8ac8da ps132\">Taxes recorded in the statement of profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22096 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-ba8ac8da ps22088\">(127.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6363 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-ba8ac8da ps22097\">(63.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-ba8ac8da ps132\">Taxes recorded in the statement of other comprehensive income<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22098 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-ba8ac8da ps22094\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6372 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-ba8ac8da ps22089\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22101 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:146.02pt\">Reconciliation of tax expenses</span></div><div class=\"ps22103 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:447.82pt\">The table below shows a reconciliation of the Group\u2019s theoretical tax liability with its actual tax liability.</span><span class=\"f charStyle-58d8bcbe ps22102\" style=\"width:2.77pt\"> </span></div><div class=\"ps22104 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">Considering the complexity of the global taxation rates applicable to Group companies, the theoretical rate used</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps22105 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">in preparing the reconciliation is that applicable for the Parent Company. The rate in force on the reporting date</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps22106 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">is the Italian corporate income tax (\u2018IRES\u2019) of 24.0%, while the regional production tax (\u2018IRAP\u2019), which is</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps22108 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:463.06pt\">applicable to Italian companies, has been taken into account as an item with different theoretical tax rate.</span><span class=\"f charStyle-58d8bcbe ps22107\" style=\"width:2.77pt\"> </span></div><div style=\"left:-0pt;position:absolute;top:-0pt;z-index:-9223372036854775805\"><img alt=\"\" id=\"i-46\" src=\"data:image/svg+xml;base64,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\" style=\"height:841.68pt;width:595.44pt\"/></div><div class=\"ps1625 fo\"><div style=\"width:496pt\"><div class=\"ps1628 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-f8da204d ps1626\" style=\"width:3.61pt\"><span class=\"f ps21\"> </span><sup>1</sup></span><span class=\"f charStyle-58d8bcbe ps22175\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-40131897 ps22176\" style=\"width:375.87pt\">Refer to note 3 vi-\u2018Selling, General and Administrative Expenses and Other Income and Expenses from business disposal</span><span class=\"f charStyle-40131897 ps15638\" style=\"width:1.55pt\">\u2019<span class=\"f ps21\"> </span></span><span class=\"f charStyle-40131897 ps22177\" style=\"width:1.94pt\">.</span></div></div></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:272.25pt\"></td><td style=\"padding:0;width:111.75pt\"></td><td style=\"padding:0;width:111.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22082 ss1579\"><div><div class=\"ps476 ss1578\"><span class=\"f charStyle-183bdf94 ps22081\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22083 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps16226\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22084 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps16226\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22085 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps6708\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6322 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps6708\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-ba8ac8da ps132\">Profit before taxation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22087 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22110\">460.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6335 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22110\">255.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Applicable tax rate in Italy (IRES)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22090 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22111\"></span><span class=\"ps22111\">-24.0</span><span class=\"ps22112\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6349 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22111\"></span><span class=\"ps22111\">-24.0</span><span class=\"ps22112\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-ba8ac8da ps132\">Theoretical Group taxes at current tax rate in Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22093 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-ba8ac8da ps22088\">(110.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9008 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-ba8ac8da ps22097\">(61.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Difference in tax rate of Group companies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22095 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22097\">(28.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9021 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22097\">(13.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Permanent differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22096 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps11570\">11.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6363 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22097\">(12.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Italian Patent Box tax benefit<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22098 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22094\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6372 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22091\">24.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Other tax incentives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22113 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22094\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6378 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22094\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Net releases to tax provision<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22114 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22094\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6380 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22089\">5.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Tax on future dividend distributions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22116 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22115\">(5.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22117 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22115\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Taxes relating to previous financial years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22118 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22115\">(3.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22119 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22089\">3.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Item with different theoretical tax rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22120 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22089\">7.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22121 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-183bdf94 ps22115\">(6.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps3137 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-ba8ac8da ps132\">Actual tax charge<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22122 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-ba8ac8da ps22088\">(127.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22123 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-ba8ac8da ps22097\">(63.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11645 ss1717\"><div><div class=\"ps485 ss1715\"><span class=\"f charStyle-ba8ac8da ps132\">Actual tax rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22124 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps22111\"></span><span class=\"ps22111\">-27.6</span><span class=\"ps22112\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22125 ss1716\"><div><div class=\"ps485 ss1410\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps22111\"></span><span class=\"ps22111\">-24.6</span><span class=\"ps22112\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22131 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:245.01pt\"><span style=\"background-color:inherit\">Taxation recorded in the statement of profit or loss for </span></span><span class=\"f charStyle-bdf8be45 ps22127\" style=\"width:157.57pt\"><span style=\"background-color:inherit\">the year ended 31 December 2025</span><span class=\"f ps21\"> </span></span><span class=\"f charStyle-bdf8be45 ps22128\" style=\"width:17.28pt\"><span style=\"background-color:inherit\"> am</span></span><span class=\"f charStyle-58d8bcbe ps22129\" style=\"width:42.29pt\">ounted to<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps22130\" style=\"width:8.95pt\"> \u20ac</span><span class=\"f charStyle-58d8bcbe ps12997\" style=\"width:25.01pt\">127.3</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps22139 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:125.85pt\">million, with a decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps22132\" style=\"width:19.45pt\">64.3</span><span class=\"f charStyle-58d8bcbe ps22133\" style=\"width:181.82pt\"> million compared to the same period of <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps22134\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps14221\" style=\"width:6.61pt\"> (</span><span class=\"f charStyle-58d8bcbe ps22135\" style=\"width:5.56pt\">\u20ac<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps22136\" style=\"width:19.45pt\">63.0</span><span class=\"f charStyle-58d8bcbe ps22137\" style=\"width:34.94pt\"> million)<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps22138\" style=\"width:80.21pt\">. The reported tax<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22148 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:52.96pt\">rate in the <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps22140\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps22141\" style=\"width:59.64pt\"> period was </span><span class=\"f charStyle-58d8bcbe ps22142\" style=\"width:28.34pt\">27.6%</span><span class=\"f charStyle-58d8bcbe ps22143\" style=\"width:176.09pt\">, in line with the reported tax rate of </span><span class=\"f charStyle-58d8bcbe ps22144\" style=\"width:28.34pt\">24.6%</span><span class=\"f charStyle-58d8bcbe ps22145\" style=\"width:17.16pt\"> in </span><span class=\"f charStyle-58d8bcbe ps22146\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps22147\" style=\"width:89.08pt\">, with increase due</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps14303 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:137.53pt\">primarily to country mix effects.</span></div><div class=\"ps14304 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The normalised tax rate, i.e., the tax-adjusted ratio of normalised income taxation to the profit before taxation,</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps7417 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:316.53pt\">excluding adjustments to Selling, General and Administrative expenses<span class=\"f ps21\"> </span></span><span class=\"f charStyle-f8da204d ps22149\" style=\"width:3.61pt\"><span class=\"f ps21\"> </span><span class=\"f\">1</span><sup></sup></span><span class=\"f charStyle-58d8bcbe ps22150\" style=\"width:175.96pt\"> and adjustments to financial and to tax</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps14305 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:128.1pt\">income and expenses, was </span><span class=\"f charStyle-58d8bcbe ps22151\" style=\"width:28.34pt\">30.2%</span><span class=\"f charStyle-58d8bcbe ps22152\" style=\"width:15.7pt\"> in </span><span class=\"f charStyle-58d8bcbe ps22153\" style=\"width:22.24pt\">2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps14209\" style=\"width:117.57pt\">, also consistent with the </span><span class=\"f charStyle-58d8bcbe ps22154\" style=\"width:28.34pt\">29.8%</span><span class=\"f charStyle-58d8bcbe ps22155\" style=\"width:155.94pt\"> normalised tax rate recognised in</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps14306 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps4079\" style=\"width:2.77pt\">.</span></div><div class=\"ps14308 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:174.91pt\">Breakdown of deferred taxes by type</span></div><div class=\"ps14309 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:404.93pt\"><span style=\"background-color:inherit\">The balance of current and deferred tax assets and liabilities is shown in the following table.</span><span class=\"f ps21\"> </span></span><span class=\"f charStyle-bdf8be45 ps22156\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps21\"> </span></span></div><div class=\"ps22173 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:273pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8759 ss513\"><div><div class=\"ps979 ss18\"><span class=\"f charStyle-183bdf94 ps561\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8760 ss513\"><div><div class=\"ps6839 ss18\"><span class=\"f charStyle-0788a2e8 ps5254\">of which perimeter </span></div><div class=\"ps6841 ss18\"><span class=\"f charStyle-0788a2e8 ps22157\">effect</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss513\"><div><div class=\"ps979 ss18\"><span class=\"f charStyle-183bdf94 ps561\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22158 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps481\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22159 ss19\"><div><div class=\"ps6279 ss18\"><span class=\"f charStyle-d669f8f1 ps481\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22160 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps481\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1719\"><div><div class=\"ps485 ss1718\"><span class=\"f charStyle-183bdf94 ps132\">Deferred tax assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22161 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps532\">73.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22163 ss19\"><div><div class=\"ps6279 ss18\"><span class=\"f charStyle-d669f8f1 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22164 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps499\">101.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1719\"><div><div class=\"ps485 ss1718\"><span class=\"f charStyle-183bdf94 ps132\">Deferred tax liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22166 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22165\">(451.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22168 ss19\"><div><div class=\"ps6279 ss18\"><span class=\"f charStyle-d669f8f1 ps22167\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22169 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22165\">(498.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1719\"><div><div class=\"ps485 ss1718\"><span class=\"f charStyle-ba8ac8da ps132\">Net deferred tax<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22170 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-ba8ac8da ps22165\">(378.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22171 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-c70bfe2f ps22167\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22172 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-ba8ac8da ps22165\">(396.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:93pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22179 ss1469\"><div><div class=\"ps485 ss1468\"><span class=\"f charStyle-183bdf94 ps22178\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7930 ss1721\"><div><div class=\"ps485 ss1720\"><span class=\"f charStyle-183bdf94 ps22180\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22181 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7932\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22182 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7932\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22183 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7932\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22184 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7932\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22185 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7932\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22186 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps18250\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8873 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7932\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps15311 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps18250\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td colspan=\"2\" rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22190 ss1722\"><div><div class=\"ps22187 ss1468\"><span class=\"f charStyle-183bdf94 ps18281\">statement of financial <span class=\"f ps21\"> </span></span></div><div class=\"ps22189 ss1468\"><span class=\"f charStyle-183bdf94 ps22188\">position</span></div></div></div></td><td colspan=\"2\" rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22192 ss1722\"><div><div class=\"ps22191 ss1468\"><span class=\"f charStyle-183bdf94 ps9102\">statement of profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22194 ss1724\"><div><div class=\"ps485 ss1723\"><span class=\"f charStyle-183bdf94 ps22193\">statements of other comprehensive income<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:36pt\"><td style=\"padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22196 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps22195\">of which OCI <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps7931\">variations</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22199 ss305\"><div><div class=\"ps2372 ss304\"><span class=\"f charStyle-183bdf94 ps5171\">of which <span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss304\"><span class=\"f charStyle-183bdf94 ps22197\">exchange rate </span></div><div class=\"ps2377 ss304\"><span class=\"f charStyle-183bdf94 ps5176\">and </span></div><div class=\"ps2378 ss304\"><span class=\"f charStyle-183bdf94 ps22198\">reclassifications<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22201 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps22195\">of which OCI <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps22200\">variation</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps15316 ss305\"><div><div class=\"ps2372 ss304\"><span class=\"f charStyle-183bdf94 ps5171\">of which <span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss304\"><span class=\"f charStyle-183bdf94 ps22197\">exchange rate </span></div><div class=\"ps2377 ss304\"><span class=\"f charStyle-183bdf94 ps5176\">and </span></div><div class=\"ps2378 ss304\"><span class=\"f charStyle-183bdf94 ps22198\">reclassifications<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22202 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7289\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22203 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7289\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22204 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7289\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8691 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7289\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22205 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7289\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22207 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22206\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22208 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7289\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22209 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22206\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1159 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Deferred expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22210 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">16.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22211 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">16.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22212 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22213 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22214 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22216 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22217 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22218 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps9541 ss1725\"><div><div class=\"ps2776 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Provisions for risk and <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss343\"><span class=\"f charStyle-183bdf94 ps132\">charges</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22219 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">69.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22220 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">81.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22221 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(9.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22222 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">18.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22223 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22224 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(3.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22225 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22226 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Tax losses carried forward<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22227 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">12.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22228 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">23.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps16597 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(8.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22229 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">6.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22230 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22231 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22232 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22233 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1725\"><div><div class=\"ps2776 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Reclassification<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss343\"><span class=\"f charStyle-183bdf94 ps132\">to deferred tax liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22235 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">(105.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22236 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(88.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps16612 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22237 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22238 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22240 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(16.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22241 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22242 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(16.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4652 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22243 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22244 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22245 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(2.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22246 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22247 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22248 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps10395 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22249 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">2.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4660 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Intra-group profit elimination<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22250 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">22.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22251 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">21.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22252 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22253 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22254 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22255 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22256 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22257 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11256 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22258 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">51.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22259 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">38.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22260 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">24.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22261 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">10.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22262 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22264 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22263\">(11.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22265 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22266 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps10236 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-ba8ac8da ps132\">Deferred tax assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22267 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7298\">73.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22268 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7343\">101.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22269 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7307\">5.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22270 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7298\">31.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22271 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7317\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22272 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps22239\">(32.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22273 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7307\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22274 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps22215\">(9.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14618 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Accelerated depreciation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22275 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(77.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22276 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(80.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16683 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(7.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22277 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(2.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22278 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22279 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16618\">10.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22280 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22281 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(28.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps4674 ss1725\"><div><div class=\"ps2776 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Gains subject <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss343\"><span class=\"f charStyle-183bdf94 ps132\">to deferred taxation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22282 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(7.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps13900 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(7.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps16699 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22283 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22284 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22285 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22286 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22287 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(7.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2532 ss1725\"><div><div class=\"ps2776 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Goodwill and brands <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss343\"><span class=\"f charStyle-183bdf94 ps132\">deductible at local level</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22288 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">(233.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22289 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">(254.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22290 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(5.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22291 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(10.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22292 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22293 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16618\">25.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22294 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22295 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(12.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps14032 ss1725\"><div><div class=\"ps2776 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Goodwill and brands not <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss343\"><span class=\"f charStyle-183bdf94 ps132\">deductible at local level</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22296 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">(158.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22297 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">(162.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22298 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">2.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22299 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22300 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22301 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22302 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22303 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(47.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5356 ss1725\"><div><div class=\"ps2776 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Taxes payable <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss343\"><span class=\"f charStyle-183bdf94 ps132\">on undistributed profits<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22304 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(47.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22305 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(43.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22306 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(4.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22307 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22308 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22309 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22310 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22311 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5363 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22312 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(8.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22313 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(9.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22314 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22315 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">1.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22316 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22317 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22318 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22319 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(2.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps11038 ss1725\"><div><div class=\"ps2776 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Reclassification of <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss343\"><span class=\"f charStyle-183bdf94 ps132\">deferred tax assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22320 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7343\">105.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22321 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">88.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22322 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22323 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22324 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22325 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16618\">16.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22326 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22327 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16618\">16.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4717 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22328 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(23.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22329 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(29.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps16840 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(3.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22330 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">2.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22331 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22332 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">9.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22333 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22334 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4726 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-ba8ac8da ps132\">Deferred tax liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22335 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">(451.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22336 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">(498.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22337 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7324\">(16.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22338 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7324\">(12.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22339 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7307\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22340 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps16618\">62.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22341 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7307\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22342 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps22239\">(83.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4736 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22343 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">(378.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22344 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">(396.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22345 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7324\">(11.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22346 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7298\">19.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22347 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22348 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps16618\">30.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22349 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7307\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22350 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps22239\">(92.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15448 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">Deferred tax assets in relation to past losses are mainly attributable to Campari do Brasil Ltda., Campari Espa\u00f1a</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps15449 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">S.L.U., Campari Argentina S.A., Campari Japan Ltd., Campari New Zealand Ltd., Campari Australia Pty Ltd. and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15451 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">Courvoisier S.A.S.. With the exception of Argentina and Japan for which tax losses can be carried forward for a<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15452 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">5-year (Argentina) and 10-year period (Japan), local legislation does not set a time limit for their use but does</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9895 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">set a quantitative limit for each individual year, based on declared taxable income. Unused tax losses carry<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15455 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">forwards for which deferred tax assets were not activated mainly referred to Courvoisier S.A.S. (for the tax</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps3764 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">period before the acquisition), Campari Argentina S.A. and Campari Japan Ltd. (for the amount which</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps15458 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">recoverability is uncertain), Casa Montelobos, S.A.P.I. de C.V., Licorera Ancho Reyes y cia, S.A.P.I. de C.V.,</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7849 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Campari Mexico Destiladora S.A. de C.V., Champagne Lallier S.A.S., Campari Mixology S.r.l. and Campari</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps15459 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:207.74pt\">Ukraine LLC, as reported in the following table.<span class=\"f ps21\"> </span></span></div><div class=\"ps22367 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:162.75pt\"></td><td style=\"padding:0;width:111pt\"></td><td style=\"padding:0;width:111pt\"></td><td style=\"padding:0;width:111pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20842 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps14860\">tax losses carry forwards<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9724 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps18025\">unrecognised deferred tax assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11961 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22351\">expiry date<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22353 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22352\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9668 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22352\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-183bdf94 ps132\">Casa Montelobos, S.A.P.I. de C.V.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22354 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">9.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16274 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">2.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16275 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22355\">10 years<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-183bdf94 ps132\">Licorera Ancho Reyes y cia, S.A.P.I. de C.V.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22356 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16277 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16278 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22355\">10 years<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-183bdf94 ps132\">Campari Mexico Destiladora S.A. de C.V.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22357 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16279 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16281 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22355\">10 years<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-40131897 ps132\">Campari Japan Ltd.</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22358 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16282 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16283 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22355\">10 years<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-40131897 ps132\">Campari Argentina S.A.</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22359 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">2.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16284 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16285 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22360\">5 years<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-183bdf94 ps132\">Courvoisier S.A.S.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps20894 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">7.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16286 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">2.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16287 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22361\">No limit for use<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-183bdf94 ps132\">Champagne Lallier S.A.S.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22363 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22362\">16.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16288 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">4.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16289 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22361\">No limit for use<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-183bdf94 ps132\">Campari Mixology S.r.l.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22364 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16290 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16291 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22361\">No limit for use<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-183bdf94 ps132\">Campari Ukraine LLC<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22365 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16292 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22366\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16293 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22361\">No limit for use<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:306.09pt\"><span style=\"background-color:inherit\">The breakdown of income tax receivables and payables is as follows.</span></span></div><div class=\"ps8193 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:272.25pt\"></td><td style=\"padding:0;width:111.75pt\"></td><td style=\"padding:0;width:111.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22082 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22369\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6837 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22369\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22083 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps6708\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22084 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps6708\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Income tax receivables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22085 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22091\">15.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6322 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22091\">32.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-40131897 ps132\">Receivables from controlling shareholder for tax consolidation</span><span class=\"f charStyle-85922b7e ps22370\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22087 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22094\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6335 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22089\">5.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-ba8ac8da ps132\">Income tax receivables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22090 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-ba8ac8da ps22091\">15.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6349 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-ba8ac8da ps22091\">37.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Income tax payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22093 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22091\">20.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9008 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22089\">6.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-40131897 ps132\">Payables to controlling shareholder for tax consolidation</span><span class=\"f charStyle-85922b7e ps22371\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22095 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22091\">31.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9021 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22094\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-ba8ac8da ps132\">Income tax payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22096 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-ba8ac8da ps22091\">52.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6363 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-ba8ac8da ps22089\">6.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22372 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:191.72pt\">Please refer to note 8 v-\u2019Related Parties\u2019 for more information.</span></div><div class=\"ps20093 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">The corporate income tax payable is shown net of advance payments and taxes deducted at source. The</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps20094 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:136.66pt\">increase in tax payable during </span><span class=\"f charStyle-58d8bcbe ps22373\" style=\"width:155.57pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21664\" style=\"width:203.96pt\"> is mainly due to the lower advance payments</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps16941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">completed in 2025, mainly related to Italian Tax Group benefitting from permanent tax incentives and tax losses</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps16942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:151.27pt\">of the Tax Group Parent company.</span></div><div class=\"ps16945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Effective 1 January 2024, 'Pillar Two' legislation has been applicable in Italy, where Davide Campari-Milano N.V.</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps16946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">is tax resident (see Legislative Decree 209/2023 or Italian Pillar Two legislation). Calculation is based on the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22376 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:186.9pt\">accounting data available at the end of </span><span class=\"f charStyle-bdf8be45 ps22374\" style=\"width:22.24pt\"><span style=\"background-color:inherit\">2025</span></span><span class=\"f charStyle-58d8bcbe ps22375\" style=\"width:287.09pt\"> and no top-up-tax exposure was detected, demonstrating the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22377 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:265.5pt\">Group commitment to fair and transparent tax management.</span></div><div class=\"ps22379 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">The Group has revised its Country-by-Country Reporting (\u2018CbCR\u2019) approach to align it with the Transitional Safe</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22380 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">Harbours ('TSH') requirements, thereby ensuring it qualifies for Pillar Two purposes starting from the 2024 fiscal</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps22381 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:21.67pt\">year.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-479": {
   "value": "<div class=\"ps20082 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xiii.\u00a0  Taxation<span id=\"iae84338576634d61a4c719a9313cd6f9\"></span></span></div><div class=\"ps2090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Deferred tax assets and liabilities are calculated on all temporary differences between the asset and liability</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps9926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">values recorded in the financial statements and the corresponding values recognised for tax purposes using the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps9927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">liability method. No deferred tax liability is provided in respect of any future dividend distributions of foreign<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">subsidiaries where the Group is able to control those, and it is probable that earnings will not be remitted in the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:304.95pt\">foreseeable future or where no liability would arise on the remittance.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-478": {
   "value": "<div class=\"ps20082 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xiii.\u00a0  Taxation<span id=\"iae84338576634d61a4c719a9313cd6f9\"></span></span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:306.09pt\"><span style=\"background-color:inherit\">The breakdown of income tax receivables and payables is as follows.</span></span></div><div class=\"ps8193 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:272.25pt\"></td><td style=\"padding:0;width:111.75pt\"></td><td style=\"padding:0;width:111.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22082 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22369\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6837 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22369\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22083 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps6708\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22084 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps6708\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Income tax receivables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22085 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22091\">15.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6322 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22091\">32.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-40131897 ps132\">Receivables from controlling shareholder for tax consolidation</span><span class=\"f charStyle-85922b7e ps22370\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22087 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22094\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6335 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22089\">5.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-ba8ac8da ps132\">Income tax receivables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22090 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-ba8ac8da ps22091\">15.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6349 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-ba8ac8da ps22091\">37.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Income tax payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22093 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22091\">20.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9008 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22089\">6.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-40131897 ps132\">Payables to controlling shareholder for tax consolidation</span><span class=\"f charStyle-85922b7e ps22371\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22095 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22091\">31.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9021 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-183bdf94 ps22094\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-ba8ac8da ps132\">Income tax payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22096 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-ba8ac8da ps22091\">52.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6363 ss1716\"><div><div class=\"ps476 ss1410\"><span class=\"f charStyle-ba8ac8da ps22089\">6.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22372 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:191.72pt\">Please refer to note 8 v-\u2019Related Parties\u2019 for more information.</span></div><div class=\"ps20093 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">The corporate income tax payable is shown net of advance payments and taxes deducted at source. The</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps20094 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:136.66pt\">increase in tax payable during </span><span class=\"f charStyle-58d8bcbe ps22373\" style=\"width:155.57pt\">the year ended 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps21664\" style=\"width:203.96pt\"> is mainly due to the lower advance payments</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps16941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">completed in 2025, mainly related to Italian Tax Group benefitting from permanent tax incentives and tax losses</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps16942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:151.27pt\">of the Tax Group Parent company.</span></div><div class=\"ps26900 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Related Parties<span id=\"iaf65e132494d41ebb19deafc53bee6d3\"></span></span></div><div class=\"ps22376 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps22377 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:103.55pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26901\" style=\"width:392.6pt\">, Davide Campari-Milano N.V. was controlled by the Italian Branch of Lagfin S.C.A.,</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22378 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">Soci\u00e9t\u00e9 en Commandite par Actions. Davide Campari-Milano N.V. and its Italian subsidiaries have adopted the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps22379 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">national tax consolidation scheme governed by articles 117 et seq. of the Consolidated Law on Corporate</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22380 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Income Tax (\u2018TUIR\u2019) for 2024 to 2026 and the individual Italian companies' income tax receivables and payables</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22381 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">were recorded from or to, respectively, the Italian Branch of Lagfin S.C.A., Soci\u00e9t\u00e9 en Commandite par Actions.</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22382 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Furthermore, Lagfin S.C.A., Soci\u00e9t\u00e9 en Commandite par Actions, Davide Campari-Milano N.V. and some of its</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26902 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">Italian subsidiaries, have joined the Group wide VAT scheme pursuant to article 73, para. 3 of Presidential</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps26905 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:268.3pt\">Decree (\u2018DPR\u2019) 633/72. All tax receivables and payables are </span><span class=\"f charStyle-58d8bcbe ps26903\" style=\"width:89.46pt\">non-interest-bearing</span><span class=\"f charStyle-58d8bcbe ps26904\" style=\"width:2.77pt\">.</span></div><div class=\"ps26909 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:446.21pt\">The following table indicates the amounts for the various categories of transactions with related </span><span class=\"f charStyle-58d8bcbe ps26907\" style=\"width:30pt\">parties</span><span class=\"f charStyle-58d8bcbe ps26908\" style=\"width:20pt\">. No</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps26910 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:471.33pt\">material transactions with related parties had an impact on the profit or loss for the period ended </span><span class=\"f charStyle-58d8bcbe ps19761\" style=\"width:24.82pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps26911 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2025</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:2.77pt\">.</span></div><div class=\"ps26936 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:206.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:68.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26914 ss410\"><div><div class=\"ps2776 ss409\"><span class=\"f charStyle-183bdf94 ps26913\">payables for tax <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss409\"><span class=\"f charStyle-183bdf94 ps16129\">consolidation</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8655 ss628\"><div><div class=\"ps2776 ss618\"><span class=\"f charStyle-183bdf94 ps26915\">receivables (payables) <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss618\"><span class=\"f charStyle-183bdf94 ps26916\">for Group VAT</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26041 ss375\"><div><div class=\"ps2776 ss374\"><span class=\"f charStyle-183bdf94 ps26917\">other non-current tax <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss374\"><span class=\"f charStyle-183bdf94 ps26918\">receivables (payables)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23974 ss1836\"><div><div class=\"ps2776 ss1835\"><span class=\"f charStyle-40131897 ps26919\">other financial </span></div><div class=\"ps2777 ss1835\"><span class=\"f charStyle-40131897 ps9089\">(liabilities)</span><span class=\"f charStyle-85922b7e ps26920\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps8198 ss1672\"><div><div class=\"ps476 ss1671\"><span class=\"f charStyle-183bdf94 ps132\">31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26922 ss941\"><div><div class=\"ps485 ss409\"><span class=\"f charStyle-183bdf94 ps26921\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps478 ss1905\"><div><div class=\"ps485 ss618\"><span class=\"f charStyle-183bdf94 ps26923\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26044 ss1238\"><div><div class=\"ps485 ss374\"><span class=\"f charStyle-183bdf94 ps22420\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23977 ss1837\"><div><div class=\"ps485 ss1835\"><span class=\"f charStyle-183bdf94 ps26924\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1126 ss1672\"><div><div class=\"ps485 ss1671\"><span class=\"f charStyle-183bdf94 ps132\">Lagfin S.C.A., Soci\u00e9t\u00e9 en Commandite par Actions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26926 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94 ps26925\">(31.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps483 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">4.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24701 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps20531\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23978 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-183bdf94 ps24003\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps490 ss1672\"><div><div class=\"ps485 ss1671\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26927 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-ba8ac8da ps26925\">(31.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps493 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">4.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26049 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-ba8ac8da ps20531\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23979 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-ba8ac8da ps24003\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps498 ss1672\"><div><div class=\"ps485 ss1671\"><span class=\"f charStyle-ba8ac8da ps132\">% on the related financial statements item<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26930 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps26928\"></span><span class=\"ps26928\">60.9<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps26929\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps501 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps20673\"></span><span class=\"ps20673\">(3.5)</span><span class=\"ps26931\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26052 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps26932\"></span><span class=\"ps26932\">0.3<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps26933\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26935 ss1837\"><div><div class=\"ps476 ss1835\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps26934\"></span><span class=\"ps26934\">1.6<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps23976\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.41pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps26754\" style=\"width:488.78pt\">A related right-of-use asset with an amount of \u20ac0.8 million was recorded (please refer to note 4 ii-'Property, Plant and Equipment, Right-of-Use Assets and</span><span class=\"f charStyle-40131897 ps465\" style=\"width:1.94pt\"> </span></div><div class=\"ps26938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:56.74pt\">Biological Assets).</span></div><div class=\"ps26954 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:206.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td><td style=\"padding:0;width:78.75pt\"></td><td style=\"padding:0;width:65.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26914 ss410\"><div><div class=\"ps2776 ss409\"><span class=\"f charStyle-183bdf94 ps26940\">receivables for tax <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss409\"><span class=\"f charStyle-183bdf94 ps16129\">consolidation</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8655 ss628\"><div><div class=\"ps2776 ss618\"><span class=\"f charStyle-183bdf94 ps26915\">receivables (payables) <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss618\"><span class=\"f charStyle-183bdf94 ps26916\">for Group VAT</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26041 ss1177\"><div><div class=\"ps2776 ss1166\"><span class=\"f charStyle-183bdf94 ps26941\">other non-current tax <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1166\"><span class=\"f charStyle-183bdf94 ps26942\">receivables (payables)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26944 ss410\"><div><div class=\"ps2776 ss409\"><span class=\"f charStyle-40131897 ps4739\">other financial </span></div><div class=\"ps2777 ss409\"><span class=\"f charStyle-40131897 ps26943\">(liabilities)</span><span class=\"f charStyle-85922b7e ps12351\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1672\"><div><div class=\"ps476 ss1671\"><span class=\"f charStyle-183bdf94 ps132\">31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26922 ss941\"><div><div class=\"ps485 ss409\"><span class=\"f charStyle-183bdf94 ps26921\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps478 ss1905\"><div><div class=\"ps485 ss618\"><span class=\"f charStyle-183bdf94 ps26923\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26044 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps26945\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26946 ss941\"><div><div class=\"ps485 ss409\"><span class=\"f charStyle-183bdf94 ps26921\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1672\"><div><div class=\"ps485 ss1671\"><span class=\"f charStyle-183bdf94 ps132\">Lagfin S.C.A., Soci\u00e9t\u00e9 en Commandite par Actions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26926 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94 ps12372\">5.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps483 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25834\">(2.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24701 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps23403\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26948 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94 ps26947\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1672\"><div><div class=\"ps485 ss1671\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26927 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-ba8ac8da ps12372\">5.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps493 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25834\">(2.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26049 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-ba8ac8da ps23403\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26949 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-ba8ac8da ps26947\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1672\"><div><div class=\"ps485 ss1671\"><span class=\"f charStyle-ba8ac8da ps132\">% on the related financial statements item<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26930 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps26928\"></span><span class=\"ps26928\">15.1<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps26929\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps501 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps26950\"></span><span class=\"ps26950\">2.0<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps26931\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26052 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps25823\"></span><span class=\"ps25823\">0.1<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps26951\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26953 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps26952\"></span><span class=\"ps26952\">1.7<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps26929\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26955 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.62pt\">A related right-of-use asset with an amount of \u20ac1.0 million was recorded (please refer to note 4 ii-'Property, Plant and Equipment, Right-of-Use Assets and</span><span class=\"f charStyle-40131897 ps118\" style=\"width:1.94pt\"> </span></div><div class=\"ps26956 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:255.36pt\">Biological Assets of the Consolidated Financial Statements at 31 December 2024).</span></div><div class=\"ps26966 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:337.5pt\"></td><td style=\"padding:0;width:158.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13972 ss1986\"><div><div class=\"ps485 ss1985\"><span class=\"f charStyle-183bdf94 ps26958\">selling, general and administrative expenses<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1987\"><div><div class=\"ps476 ss1527\"><span class=\"f charStyle-40131897 ps132\">2025</span><span class=\"f charStyle-85922b7e ps26959\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26961 ss1986\"><div><div class=\"ps485 ss1985\"><span class=\"f charStyle-183bdf94 ps26960\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1987\"><div><div class=\"ps485 ss1527\"><span class=\"f charStyle-183bdf94 ps132\">Lagfin S.C.A., Soci\u00e9t\u00e9 en Commandite par Actions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26963 ss1986\"><div><div class=\"ps476 ss1985\"><span class=\"f charStyle-183bdf94 ps26962\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1987\"><div><div class=\"ps485 ss1527\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26964 ss1986\"><div><div class=\"ps485 ss1985\"><span class=\"f charStyle-ba8ac8da ps26962\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1987\"><div><div class=\"ps485 ss1527\"><span class=\"f charStyle-183bdf94 ps132\">%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26965 ss1986\"><div><div class=\"ps476 ss1985\"><span class=\"f charStyle-183bdf94 ps17285\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26968 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.31pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps26967\" style=\"width:488.81pt\">The financial interest component related to the other financial (liabilities) was negligible, depreciation and amortisation referring to the right-of-use asset not</span><span class=\"f charStyle-40131897 ps381\" style=\"width:1.94pt\"> </span></div><div class=\"ps26969 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:403.48pt\">represented in this related parties section amounted to \u20ac0.2 million and presented as selling, general and administrative expenses.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:337.5pt\"></td><td style=\"padding:0;width:158.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13972 ss1986\"><div><div class=\"ps485 ss1985\"><span class=\"f charStyle-183bdf94 ps26958\">selling, general and administrative expenses<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1987\"><div><div class=\"ps476 ss1527\"><span class=\"f charStyle-183bdf94 ps132\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26961 ss1986\"><div><div class=\"ps485 ss1985\"><span class=\"f charStyle-183bdf94 ps26960\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1987\"><div><div class=\"ps485 ss1527\"><span class=\"f charStyle-183bdf94 ps132\">Lagfin S.C.A., Soci\u00e9t\u00e9 en Commandite par Actions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26963 ss1986\"><div><div class=\"ps476 ss1985\"><span class=\"f charStyle-183bdf94 ps26962\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1987\"><div><div class=\"ps485 ss1527\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26964 ss1986\"><div><div class=\"ps485 ss1985\"><span class=\"f charStyle-ba8ac8da ps26962\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1987\"><div><div class=\"ps485 ss1527\"><span class=\"f charStyle-183bdf94 ps132\">%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26965 ss1986\"><div><div class=\"ps485 ss1985\"><span class=\"f charStyle-183bdf94 ps26972\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-477": {
   "value": "<div class=\"ps20082 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xiii.\u00a0  Taxation<span id=\"iae84338576634d61a4c719a9313cd6f9\"></span></span></div><div class=\"ps2090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Deferred tax assets and liabilities are calculated on all temporary differences between the asset and liability</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps9926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">values recorded in the financial statements and the corresponding values recognised for tax purposes using the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps9927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">liability method. No deferred tax liability is provided in respect of any future dividend distributions of foreign<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">subsidiaries where the Group is able to control those, and it is probable that earnings will not be remitted in the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:304.95pt\">foreseeable future or where no liability would arise on the remittance.</span><div class=\"ps14308 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:174.91pt\">Breakdown of deferred taxes by type</span></div><div class=\"ps14309 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:404.93pt\"><span style=\"background-color:inherit\">The balance of current and deferred tax assets and liabilities is shown in the following table.</span><span class=\"f ps21\"> </span></span><span class=\"f charStyle-bdf8be45 ps22156\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps21\"> </span></span></div><div class=\"ps22173 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:273pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8759 ss513\"><div><div class=\"ps979 ss18\"><span class=\"f charStyle-183bdf94 ps561\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8760 ss513\"><div><div class=\"ps6839 ss18\"><span class=\"f charStyle-0788a2e8 ps5254\">of which perimeter </span></div><div class=\"ps6841 ss18\"><span class=\"f charStyle-0788a2e8 ps22157\">effect</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss513\"><div><div class=\"ps979 ss18\"><span class=\"f charStyle-183bdf94 ps561\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22158 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps481\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22159 ss19\"><div><div class=\"ps6279 ss18\"><span class=\"f charStyle-d669f8f1 ps481\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22160 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps481\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1719\"><div><div class=\"ps485 ss1718\"><span class=\"f charStyle-183bdf94 ps132\">Deferred tax assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22161 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps532\">73.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22163 ss19\"><div><div class=\"ps6279 ss18\"><span class=\"f charStyle-d669f8f1 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22164 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps499\">101.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1719\"><div><div class=\"ps485 ss1718\"><span class=\"f charStyle-183bdf94 ps132\">Deferred tax liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22166 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22165\">(451.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22168 ss19\"><div><div class=\"ps6279 ss18\"><span class=\"f charStyle-d669f8f1 ps22167\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22169 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22165\">(498.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1719\"><div><div class=\"ps485 ss1718\"><span class=\"f charStyle-ba8ac8da ps132\">Net deferred tax<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22170 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-ba8ac8da ps22165\">(378.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22171 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-c70bfe2f ps22167\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22172 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-ba8ac8da ps22165\">(396.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:93pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22179 ss1469\"><div><div class=\"ps485 ss1468\"><span class=\"f charStyle-183bdf94 ps22178\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7930 ss1721\"><div><div class=\"ps485 ss1720\"><span class=\"f charStyle-183bdf94 ps22180\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22181 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7932\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22182 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7932\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22183 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7932\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22184 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7932\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22185 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7932\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22186 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps18250\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8873 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7932\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps15311 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps18250\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td colspan=\"2\" rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22190 ss1722\"><div><div class=\"ps22187 ss1468\"><span class=\"f charStyle-183bdf94 ps18281\">statement of financial <span class=\"f ps21\"> </span></span></div><div class=\"ps22189 ss1468\"><span class=\"f charStyle-183bdf94 ps22188\">position</span></div></div></div></td><td colspan=\"2\" rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22192 ss1722\"><div><div class=\"ps22191 ss1468\"><span class=\"f charStyle-183bdf94 ps9102\">statement of profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22194 ss1724\"><div><div class=\"ps485 ss1723\"><span class=\"f charStyle-183bdf94 ps22193\">statements of other comprehensive income<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:36pt\"><td style=\"padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22196 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps22195\">of which OCI <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps7931\">variations</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22199 ss305\"><div><div class=\"ps2372 ss304\"><span class=\"f charStyle-183bdf94 ps5171\">of which <span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss304\"><span class=\"f charStyle-183bdf94 ps22197\">exchange rate </span></div><div class=\"ps2377 ss304\"><span class=\"f charStyle-183bdf94 ps5176\">and </span></div><div class=\"ps2378 ss304\"><span class=\"f charStyle-183bdf94 ps22198\">reclassifications<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22201 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps22195\">of which OCI <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps22200\">variation</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps15316 ss305\"><div><div class=\"ps2372 ss304\"><span class=\"f charStyle-183bdf94 ps5171\">of which <span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss304\"><span class=\"f charStyle-183bdf94 ps22197\">exchange rate </span></div><div class=\"ps2377 ss304\"><span class=\"f charStyle-183bdf94 ps5176\">and </span></div><div class=\"ps2378 ss304\"><span class=\"f charStyle-183bdf94 ps22198\">reclassifications<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22202 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7289\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22203 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7289\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22204 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7289\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8691 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7289\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22205 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7289\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22207 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22206\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22208 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7289\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22209 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22206\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1159 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Deferred expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22210 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">16.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22211 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">16.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22212 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22213 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22214 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22216 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22217 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22218 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps9541 ss1725\"><div><div class=\"ps2776 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Provisions for risk and <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss343\"><span class=\"f charStyle-183bdf94 ps132\">charges</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22219 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">69.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22220 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">81.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22221 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(9.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22222 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">18.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22223 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22224 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(3.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22225 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22226 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Tax losses carried forward<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22227 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">12.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22228 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">23.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps16597 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(8.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22229 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">6.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22230 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22231 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22232 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22233 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1725\"><div><div class=\"ps2776 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Reclassification<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss343\"><span class=\"f charStyle-183bdf94 ps132\">to deferred tax liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22235 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">(105.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22236 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(88.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps16612 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22237 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22238 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22240 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(16.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22241 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22242 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(16.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4652 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22243 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22244 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22245 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(2.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22246 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22247 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22248 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps10395 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22249 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">2.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4660 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Intra-group profit elimination<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22250 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">22.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22251 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">21.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22252 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22253 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22254 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22255 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22256 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22257 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11256 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22258 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">51.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22259 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">38.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22260 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">24.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22261 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">10.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22262 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22264 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22263\">(11.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22265 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22266 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps10236 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-ba8ac8da ps132\">Deferred tax assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22267 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7298\">73.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22268 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7343\">101.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22269 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7307\">5.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22270 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7298\">31.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22271 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7317\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22272 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps22239\">(32.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22273 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7307\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22274 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps22215\">(9.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14618 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Accelerated depreciation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22275 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(77.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22276 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(80.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16683 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(7.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22277 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(2.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22278 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22279 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16618\">10.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22280 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22281 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(28.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps4674 ss1725\"><div><div class=\"ps2776 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Gains subject <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss343\"><span class=\"f charStyle-183bdf94 ps132\">to deferred taxation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22282 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(7.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps13900 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(7.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps16699 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22283 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22284 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22285 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22286 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22287 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(7.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2532 ss1725\"><div><div class=\"ps2776 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Goodwill and brands <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss343\"><span class=\"f charStyle-183bdf94 ps132\">deductible at local level</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22288 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">(233.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22289 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">(254.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22290 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(5.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22291 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(10.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22292 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22293 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16618\">25.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22294 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22295 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(12.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps14032 ss1725\"><div><div class=\"ps2776 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Goodwill and brands not <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss343\"><span class=\"f charStyle-183bdf94 ps132\">deductible at local level</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22296 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">(158.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22297 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">(162.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22298 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">2.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22299 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22300 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22301 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22302 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22303 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(47.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5356 ss1725\"><div><div class=\"ps2776 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Taxes payable <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss343\"><span class=\"f charStyle-183bdf94 ps132\">on undistributed profits<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22304 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(47.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22305 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(43.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22306 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(4.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22307 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22308 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22309 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22310 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22311 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5363 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22312 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(8.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22313 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(9.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22314 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22315 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">1.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22316 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22317 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22318 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22319 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(2.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps11038 ss1725\"><div><div class=\"ps2776 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Reclassification of <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss343\"><span class=\"f charStyle-183bdf94 ps132\">deferred tax assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22320 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7343\">105.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22321 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps7298\">88.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22322 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22323 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22324 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22325 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16618\">16.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22326 ss443\"><div><div class=\"ps979 ss180\"><span class=\"f charStyle-183bdf94 ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22327 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps16618\">16.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4717 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22328 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(23.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22329 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7324\">(29.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps16840 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7317\">(3.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22330 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">2.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22331 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22332 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">9.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22333 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-183bdf94 ps7307\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22334 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4726 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-ba8ac8da ps132\">Deferred tax liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22335 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">(451.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22336 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">(498.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22337 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7324\">(16.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22338 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7324\">(12.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22339 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7307\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps22340 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps16618\">62.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps22341 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7307\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22342 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps22239\">(83.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4736 ss344\"><div><div class=\"ps485 ss343\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22343 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">(378.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22344 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">(396.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22345 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7324\">(11.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22346 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7298\">19.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22347 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps16031\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22348 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps16618\">30.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22349 ss188\"><div><div class=\"ps485 ss180\"><span class=\"f charStyle-ba8ac8da ps7307\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22350 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps22239\">(92.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15448 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">Deferred tax assets in relation to past losses are mainly attributable to Campari do Brasil Ltda., Campari Espa\u00f1a</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps15449 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">S.L.U., Campari Argentina S.A., Campari Japan Ltd., Campari New Zealand Ltd., Campari Australia Pty Ltd. and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15451 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">Courvoisier S.A.S.. With the exception of Argentina and Japan for which tax losses can be carried forward for a<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15452 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">5-year (Argentina) and 10-year period (Japan), local legislation does not set a time limit for their use but does</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9895 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">set a quantitative limit for each individual year, based on declared taxable income. Unused tax losses carry<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15455 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">forwards for which deferred tax assets were not activated mainly referred to Courvoisier S.A.S. (for the tax</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps3764 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">period before the acquisition), Campari Argentina S.A. and Campari Japan Ltd. (for the amount which</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps15458 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">recoverability is uncertain), Casa Montelobos, S.A.P.I. de C.V., Licorera Ancho Reyes y cia, S.A.P.I. de C.V.,</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7849 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Campari Mexico Destiladora S.A. de C.V., Champagne Lallier S.A.S., Campari Mixology S.r.l. and Campari</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps15459 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:207.74pt\">Ukraine LLC, as reported in the following table.<span class=\"f ps21\"> </span></span></div><div class=\"ps22367 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:162.75pt\"></td><td style=\"padding:0;width:111pt\"></td><td style=\"padding:0;width:111pt\"></td><td style=\"padding:0;width:111pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20842 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps14860\">tax losses carry forwards<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9724 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps18025\">unrecognised deferred tax assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11961 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22351\">expiry date<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22353 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22352\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9668 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22352\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-183bdf94 ps132\">Casa Montelobos, S.A.P.I. de C.V.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22354 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">9.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16274 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">2.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16275 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22355\">10 years<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-183bdf94 ps132\">Licorera Ancho Reyes y cia, S.A.P.I. de C.V.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22356 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16277 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16278 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22355\">10 years<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-183bdf94 ps132\">Campari Mexico Destiladora S.A. de C.V.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22357 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16279 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16281 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22355\">10 years<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-40131897 ps132\">Campari Japan Ltd.</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22358 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16282 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16283 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22355\">10 years<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-40131897 ps132\">Campari Argentina S.A.</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22359 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">2.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16284 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16285 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22360\">5 years<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-183bdf94 ps132\">Courvoisier S.A.S.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps20894 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">7.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16286 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">2.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16287 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22361\">No limit for use<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-183bdf94 ps132\">Champagne Lallier S.A.S.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22363 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22362\">16.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16288 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">4.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16289 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22361\">No limit for use<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-183bdf94 ps132\">Campari Mixology S.r.l.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22364 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16290 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16291 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22361\">No limit for use<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss450\"><div><div class=\"ps485 ss449\"><span class=\"f charStyle-183bdf94 ps132\">Campari Ukraine LLC<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22365 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps181\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16292 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22366\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16293 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps22361\">No limit for use<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-476": {
   "value": "<div class=\"ps20082 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">xiii.\u00a0  Taxation<span id=\"iae84338576634d61a4c719a9313cd6f9\"></span></span></div>Other non-income taxes, such as property and capital taxes, are included in operating expenses.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-489": {
   "value": "<div class=\"ps22384 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Acquisition and Sale of Businesses and Purchase of Non-Controlling Interests<span id=\"i8f33003f0e0242e4a7eb406f0ecf81d7\"></span></span></div><div class=\"ps4310 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:57.71pt\">Accounting </span><span class=\"f charStyle-b96b9181 ps13753\" style=\"width:28.86pt\">policy</span></div><div class=\"ps22386 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:153.9pt\">Business combinations recognition</span></div><div class=\"ps22387 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Business combinations are recorded by applying the acquisition method. Ancillary costs relating to the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps22388 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">transaction are recognised in the statement of profit or loss at the time at which they are incurred. The Group</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22389 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">verifies firstly whether the acquired set of activities and assets meets the definition of a business, and control is</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22390 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">transferred to the Group, meaning that the transaction falls within the definition of a business combination. In</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22391 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">particular, the Group deems an undertaking to be a business only if it is an integrated set of activities and assets</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps22392 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">that includes at least an input and a substantive process which, together, contribute to the ability to create an</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22393 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">output. A business can therefore exist even without the inclusion of all the inputs and processes necessary to</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17286 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">create an output. The Group undertakes this assessment by also applying the option of the \u2018concentration test\u2019</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17499 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:444.37pt\">to simplify the assessment itself for each business combination to segregate asset deal transactions.</span></div><div class=\"ps22394 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Information about the fair value measurement allocated to assets acquired and liabilities assumed in the context</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22396 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:195.42pt\">of the business combination are disclosed. </span><span class=\"f charStyle-2293a859 ps22395\" style=\"width:300.74pt\">Goodwill acquired in business combinations is initially measured at</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22397 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">cost, as the excess of the sum of payments transferred as part of a business combination, the value of the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22398 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">portion of shareholders\u2019 equity relating to non-controlling interests and the fair value of any interest previously</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7857 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">held in the acquired business over the Group\u2019s portion of the net fair value of the identifiable assets, liabilities</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">and contingent liabilities of the acquired company. If the value of the net assets acquired and liabilities assumed</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7860 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">on the acquisition date exceeds the sum of the transferred payments, the value of the non-controlling interests\u2019</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7861 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">portion of shareholders\u2019 equity and the fair value of any interest previously held in the acquired business, this</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7862 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:394.34pt\">excess value is recorded in the statement of profit or loss as income from the transaction.</span><span class=\"f charStyle-2293a859 ps22399\" style=\"width:2.77pt\"> </span></div><div class=\"ps7863 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Any changes in fair value allocation of the net assets acquired occurring once more information related to the</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7864 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">business acquired as per acquisition date becomes available during the measurement period (12 months from</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7865 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:279.96pt\">the date of acquisition), are included retrospectively in goodwill.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:477.92pt\">Definition of the business combination costs and shareholders\u2019 equity attributable to non-controlling interests</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">The cost of an acquisition is determined by the sum of the payments transferred as part of a business</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">combination, measured at fair value, on the acquisition date and at the value of the portion of shareholders\u2019<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">equity relating to non-controlling interests. Non-controlling interests relate to the portion of a consolidated</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">subsidiary shareholders\u2019 equity not directly or indirectly attributable to the Group. At the acquisition date,</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">components of non-controlling interests in the acquiree that are present ownership interests and entitle their</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:462.51pt\">holders to a proportionate share of the entity\u2019s net assets in the event of liquidation, are either measured:</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.03pt\">at the present ownership instruments\u2019 proportionate share in the recognised amounts of the acquiree\u2019s</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.97pt\">identifiable net assets, determined according to the rules set out by the accounting standard for business</span><span class=\"f charStyle-2293a859 ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:56.67pt\">combination;<span class=\"f ps21\"> </span></span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.42pt\">at fair value.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The designated methodology of measurement method of non-controlling interests is made for each business</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">combination on a transaction-by-transaction basis and is specified when the values deriving from the allocation</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:86.67pt\">process are shown.</span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">In the case of call options likely giving the acquirer present access to returns associated with the ownership</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">interest in the shares subject to the call, or in the case of put options granted to non-controlling interests giving</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">present access to the returns associated with the ownership interest in the shares subject to the non-controlling</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">interests put or in the case of a combination of both, it is assumed that the purchase will take place on the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">earliest possible date for the maximum number of shares and the business combination is accounted for as</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">though the acquisition is at 100% interest with the recognition of a financial liability at its fair value measured at</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">the present value of the expected cash outflow to be paid to the non-controlling shareholders at the expiry of the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">option as any contingent consideration; the liability is classified as a financial instrument and considered part of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">the acquisition consideration. Changes in the carrying amount of the financial liability are recognised in the</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.94pt\">statement of profit or loss.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">In the case of put option granted to non-controlling interests at the date of or after acquiring control of a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subsidiary, which does not provide a present ownership interest, the non-controlling interest is recognised on</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:41.67pt\">initial acq</span><span class=\"f charStyle-a0f5a13b ps22400\" style=\"width:454.54pt\">uisition and, under Group policy choice while the non-controlling interests put remains unexercised, the</span><span class=\"f charStyle-a0f5a13b ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps56\" style=\"width:263.3pt\">accounting at the end of each reporting period is as follows:</span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.98pt\">the amount that would have been recognised for the non-controlling interest value is determined by including</span><span class=\"f charStyle-a0f5a13b ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:402.16pt\">allocations of profit or loss, changes in OCI and dividends declared for the reporting period;</span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:336.6pt\">the non-controlling interest is derecognised as if it was acquired at that date;</span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.96pt\">a financial liability is recognised at the present value of the amount payable on exercise of the non-controlling</span><span class=\"f charStyle-a0f5a13b ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:57.2pt\">interests put;</span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:365.31pt\">the Group accounts for the difference between (b) and (c) as an equity transaction.</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">If the non-controlling interests put expires unexercised, the position is unwound so that the non-controlling</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:440.51pt\">interest is recognised at the amount it would have been as if the put option had never been granted.</span><span class=\"f charStyle-2293a859 ps22401\" style=\"width:13.85pt\">\u00a0 \u00a0  </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">In the case of business combinations made in stages, the interest previously held by the Group in the acquired</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">business is revalued at fair value on the date on which the control is acquired, and any resulting gains or losses</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:211.05pt\">are recognised in the statement of profit or loss.</span><span class=\"f charStyle-2293a859 ps22402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:156.11pt\">Goodwill in a business combination</span></div><div class=\"ps7260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">The goodwill acquired in a business combination is allocated to the individual cash-generating units or to the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">groups of cash-generating units likely to benefit from merger synergies, regardless of whether other assets or</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.15pt\">liabilities from the acquisition are assigned to these units or groups of units.</span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">In the event of a business disposal, the goodwill of the cash-generating unit connected to the disposal is</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">included in the carrying value of the net items sold by measuring its relative fair value, having as reference the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:437.7pt\">proceeds from the sale and the most recent fair value attributed to the related cash-generating unit.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-488": {
   "value": "<div class=\"ps22384 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Acquisition and Sale of Businesses and Purchase of Non-Controlling Interests<span id=\"i8f33003f0e0242e4a7eb406f0ecf81d7\"></span></span></div><div class=\"ps4310 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:57.71pt\">Accounting </span><span class=\"f charStyle-b96b9181 ps13753\" style=\"width:28.86pt\">policy</span></div><div class=\"ps22386 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:153.9pt\">Business combinations recognition</span></div><div class=\"ps22387 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Business combinations are recorded by applying the acquisition method. Ancillary costs relating to the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps22388 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">transaction are recognised in the statement of profit or loss at the time at which they are incurred. The Group</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22389 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">verifies firstly whether the acquired set of activities and assets meets the definition of a business, and control is</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22390 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">transferred to the Group, meaning that the transaction falls within the definition of a business combination. In</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22391 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">particular, the Group deems an undertaking to be a business only if it is an integrated set of activities and assets</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps22392 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">that includes at least an input and a substantive process which, together, contribute to the ability to create an</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22393 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">output. A business can therefore exist even without the inclusion of all the inputs and processes necessary to</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17286 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">create an output. The Group undertakes this assessment by also applying the option of the \u2018concentration test\u2019</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17499 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:444.37pt\">to simplify the assessment itself for each business combination to segregate asset deal transactions.</span></div><div class=\"ps22394 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Information about the fair value measurement allocated to assets acquired and liabilities assumed in the context</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22396 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:195.42pt\">of the business combination are disclosed. </span><span class=\"f charStyle-2293a859 ps22395\" style=\"width:300.74pt\">Goodwill acquired in business combinations is initially measured at</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22397 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">cost, as the excess of the sum of payments transferred as part of a business combination, the value of the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22398 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">portion of shareholders\u2019 equity relating to non-controlling interests and the fair value of any interest previously</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7857 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">held in the acquired business over the Group\u2019s portion of the net fair value of the identifiable assets, liabilities</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">and contingent liabilities of the acquired company. If the value of the net assets acquired and liabilities assumed</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7860 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">on the acquisition date exceeds the sum of the transferred payments, the value of the non-controlling interests\u2019</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7861 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">portion of shareholders\u2019 equity and the fair value of any interest previously held in the acquired business, this</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7862 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:394.34pt\">excess value is recorded in the statement of profit or loss as income from the transaction.</span><span class=\"f charStyle-2293a859 ps22399\" style=\"width:2.77pt\"> </span></div><div class=\"ps7863 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Any changes in fair value allocation of the net assets acquired occurring once more information related to the</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7864 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">business acquired as per acquisition date becomes available during the measurement period (12 months from</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7865 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:279.96pt\">the date of acquisition), are included retrospectively in goodwill.</span></div><div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:477.92pt\">Definition of the business combination costs and shareholders\u2019 equity attributable to non-controlling interests</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">The cost of an acquisition is determined by the sum of the payments transferred as part of a business</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">combination, measured at fair value, on the acquisition date and at the value of the portion of shareholders\u2019<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">equity relating to non-controlling interests. Non-controlling interests relate to the portion of a consolidated</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">subsidiary shareholders\u2019 equity not directly or indirectly attributable to the Group. At the acquisition date,</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">components of non-controlling interests in the acquiree that are present ownership interests and entitle their</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:462.51pt\">holders to a proportionate share of the entity\u2019s net assets in the event of liquidation, are either measured:</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.03pt\">at the present ownership instruments\u2019 proportionate share in the recognised amounts of the acquiree\u2019s</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.97pt\">identifiable net assets, determined according to the rules set out by the accounting standard for business</span><span class=\"f charStyle-2293a859 ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:56.67pt\">combination;<span class=\"f ps21\"> </span></span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.42pt\">at fair value.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The designated methodology of measurement method of non-controlling interests is made for each business</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">combination on a transaction-by-transaction basis and is specified when the values deriving from the allocation</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:86.67pt\">process are shown.</span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">In the case of call options likely giving the acquirer present access to returns associated with the ownership</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">interest in the shares subject to the call, or in the case of put options granted to non-controlling interests giving</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">present access to the returns associated with the ownership interest in the shares subject to the non-controlling</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">interests put or in the case of a combination of both, it is assumed that the purchase will take place on the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">earliest possible date for the maximum number of shares and the business combination is accounted for as</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">though the acquisition is at 100% interest with the recognition of a financial liability at its fair value measured at</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">the present value of the expected cash outflow to be paid to the non-controlling shareholders at the expiry of the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">option as any contingent consideration; the liability is classified as a financial instrument and considered part of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">the acquisition consideration. Changes in the carrying amount of the financial liability are recognised in the</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.94pt\">statement of profit or loss.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">In the case of put option granted to non-controlling interests at the date of or after acquiring control of a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subsidiary, which does not provide a present ownership interest, the non-controlling interest is recognised on</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:41.67pt\">initial acq</span><span class=\"f charStyle-a0f5a13b ps22400\" style=\"width:454.54pt\">uisition and, under Group policy choice while the non-controlling interests put remains unexercised, the</span><span class=\"f charStyle-a0f5a13b ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps56\" style=\"width:263.3pt\">accounting at the end of each reporting period is as follows:</span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.98pt\">the amount that would have been recognised for the non-controlling interest value is determined by including</span><span class=\"f charStyle-a0f5a13b ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:402.16pt\">allocations of profit or loss, changes in OCI and dividends declared for the reporting period;</span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:336.6pt\">the non-controlling interest is derecognised as if it was acquired at that date;</span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.96pt\">a financial liability is recognised at the present value of the amount payable on exercise of the non-controlling</span><span class=\"f charStyle-a0f5a13b ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:57.2pt\">interests put;</span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:365.31pt\">the Group accounts for the difference between (b) and (c) as an equity transaction.</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">If the non-controlling interests put expires unexercised, the position is unwound so that the non-controlling</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:440.51pt\">interest is recognised at the amount it would have been as if the put option had never been granted.</span><span class=\"f charStyle-2293a859 ps22401\" style=\"width:13.85pt\">\u00a0 \u00a0  </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">In the case of business combinations made in stages, the interest previously held by the Group in the acquired</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">business is revalued at fair value on the date on which the control is acquired, and any resulting gains or losses</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:211.05pt\">are recognised in the statement of profit or loss.</span><span class=\"f charStyle-2293a859 ps22402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:156.11pt\">Goodwill in a business combination</span></div><div class=\"ps7260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">The goodwill acquired in a business combination is allocated to the individual cash-generating units or to the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">groups of cash-generating units likely to benefit from merger synergies, regardless of whether other assets or</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.15pt\">liabilities from the acquisition are assigned to these units or groups of units.</span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">In the event of a business disposal, the goodwill of the cash-generating unit connected to the disposal is</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">included in the carrying value of the net items sold by measuring its relative fair value, having as reference the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:437.7pt\">proceeds from the sale and the most recent fair value attributed to the related cash-generating unit.</span><span class=\"f charStyle-2293a859 ps22403\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:82.78pt\">Business disposal </span><span class=\"f charStyle-ca5f4806 ps22404\" style=\"width:48.9pt\">recognition</span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">The assets and liabilities of the disposal group are classified as held for sale and measured at their relative fair</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">values at the date of classification. Relative fair value is determined reflecting the price that would be received to</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">sell an asset or paid to transfer a liability in an orderly transaction between market participants. The relative fair</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">value method is used to allocate the consideration received proportionally to the fair values of the identifiable</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">assets and liabilities in the disposal group. Where goodwill has been allocated to a cash-generating unit ('CGU')</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">disposed in these circumstances is measured based on the relative values of the disposed operation and the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">portion of the cash-generating unit retained. Any difference between the carrying amount and the allocated fair</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:256.04pt\">value is recognised in profit or loss at the time of disposal.</span></div></div><div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:224.93pt\">Intangible assets with indefinite life impairment test</span></div><div class=\"ps1227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Goodwill, brands and other intangible assets with an indefinite life are not amortised and are reviewed for</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impairment tests every year or more frequently if there is any indication that the asset may be impaired. The</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">annual approval of the impairment test results is performed by the Board of Directors of Davide Campari-Milano</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:480.15pt\">N.V., which takes place before the approval of the annual financial reports (consolidated and Company only).</span><span class=\"f charStyle-2293a859 ps22571\" style=\"width:2.77pt\"> </span></div><div class=\"ps1559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The ability to recover assets is ascertained by comparing the carrying amount to the related recoverable value,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:413.26pt\">which is represented by the higher of the fair value less cost of disposal, and the value in use.</span></div><div class=\"ps1561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">In the absence of a binding sale agreement, the fair value is estimated on the basis of recent transaction values</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">in an active market, or based on the best information available to determine the amount that could be obtained</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">from selling the asset. The value in use is determined by discounting expected cash flows resulting from the use</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">of the asset, and, if significant and reasonably determinable, the cash flows resulting from its sale at the end of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">its useful life. Cash flows are determined on the basis of reasonable, documented assumptions representing the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">best estimate of the future economic conditions that will occur during the remaining useful life of the asset, with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps9942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">greater weight given to external information. Growth rate assumptions are applied to the years beyond the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:479.75pt\">business plan horizon. The discount rate applied takes into account the implicit risk of the business segment.</span></div><div class=\"ps9944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">When it is not possible to determine the recoverable value of an individual asset, the Group estimates the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:323.32pt\">recoverable value of the cash-generating unit to which the asset belongs.</span></div><div class=\"ps9946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Impairment loss is recorded if the recoverable value of an asset is lower than its carrying amount by posting the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">related cost in the statement of profit or loss and is charged to other operating expenses. Goodwill impairments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:133.32pt\">can no longer be written back.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-487": {
   "value": "<div class=\"ps22384 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Acquisition and Sale of Businesses and Purchase of Non-Controlling Interests<span id=\"i8f33003f0e0242e4a7eb406f0ecf81d7\"></span></span></div><div class=\"ps4310 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:57.71pt\">Accounting </span><span class=\"f charStyle-b96b9181 ps13753\" style=\"width:28.86pt\">policy</span></div><div class=\"ps22386 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:153.9pt\">Business combinations recognition</span></div><div class=\"ps22387 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Business combinations are recorded by applying the acquisition method. Ancillary costs relating to the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps22388 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">transaction are recognised in the statement of profit or loss at the time at which they are incurred. The Group</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22389 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">verifies firstly whether the acquired set of activities and assets meets the definition of a business, and control is</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22390 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">transferred to the Group, meaning that the transaction falls within the definition of a business combination. In</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22391 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">particular, the Group deems an undertaking to be a business only if it is an integrated set of activities and assets</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps22392 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">that includes at least an input and a substantive process which, together, contribute to the ability to create an</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22393 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">output. A business can therefore exist even without the inclusion of all the inputs and processes necessary to</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17286 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">create an output. The Group undertakes this assessment by also applying the option of the \u2018concentration test\u2019</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17499 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:444.37pt\">to simplify the assessment itself for each business combination to segregate asset deal transactions.</span></div><div class=\"ps22394 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Information about the fair value measurement allocated to assets acquired and liabilities assumed in the context</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22396 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:195.42pt\">of the business combination are disclosed. </span><span class=\"f charStyle-2293a859 ps22395\" style=\"width:300.74pt\">Goodwill acquired in business combinations is initially measured at</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22397 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">cost, as the excess of the sum of payments transferred as part of a business combination, the value of the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22398 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">portion of shareholders\u2019 equity relating to non-controlling interests and the fair value of any interest previously</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7857 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">held in the acquired business over the Group\u2019s portion of the net fair value of the identifiable assets, liabilities</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">and contingent liabilities of the acquired company. If the value of the net assets acquired and liabilities assumed</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7860 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">on the acquisition date exceeds the sum of the transferred payments, the value of the non-controlling interests\u2019</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7861 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">portion of shareholders\u2019 equity and the fair value of any interest previously held in the acquired business, this</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7862 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:394.34pt\">excess value is recorded in the statement of profit or loss as income from the transaction.</span><span class=\"f charStyle-2293a859 ps22399\" style=\"width:2.77pt\"> </span></div><div class=\"ps7863 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Any changes in fair value allocation of the net assets acquired occurring once more information related to the</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7864 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">business acquired as per acquisition date becomes available during the measurement period (12 months from</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7865 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:279.96pt\">the date of acquisition), are included retrospectively in goodwill.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:477.92pt\">Definition of the business combination costs and shareholders\u2019 equity attributable to non-controlling interests</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">The cost of an acquisition is determined by the sum of the payments transferred as part of a business</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">combination, measured at fair value, on the acquisition date and at the value of the portion of shareholders\u2019<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">equity relating to non-controlling interests. Non-controlling interests relate to the portion of a consolidated</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">subsidiary shareholders\u2019 equity not directly or indirectly attributable to the Group. At the acquisition date,</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">components of non-controlling interests in the acquiree that are present ownership interests and entitle their</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:462.51pt\">holders to a proportionate share of the entity\u2019s net assets in the event of liquidation, are either measured:</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.03pt\">at the present ownership instruments\u2019 proportionate share in the recognised amounts of the acquiree\u2019s</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.97pt\">identifiable net assets, determined according to the rules set out by the accounting standard for business</span><span class=\"f charStyle-2293a859 ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:56.67pt\">combination;<span class=\"f ps21\"> </span></span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.42pt\">at fair value.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The designated methodology of measurement method of non-controlling interests is made for each business</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">combination on a transaction-by-transaction basis and is specified when the values deriving from the allocation</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:86.67pt\">process are shown.</span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">In the case of call options likely giving the acquirer present access to returns associated with the ownership</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">interest in the shares subject to the call, or in the case of put options granted to non-controlling interests giving</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">present access to the returns associated with the ownership interest in the shares subject to the non-controlling</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">interests put or in the case of a combination of both, it is assumed that the purchase will take place on the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">earliest possible date for the maximum number of shares and the business combination is accounted for as</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">though the acquisition is at 100% interest with the recognition of a financial liability at its fair value measured at</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">the present value of the expected cash outflow to be paid to the non-controlling shareholders at the expiry of the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">option as any contingent consideration; the liability is classified as a financial instrument and considered part of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">the acquisition consideration. Changes in the carrying amount of the financial liability are recognised in the</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.94pt\">statement of profit or loss.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">In the case of put option granted to non-controlling interests at the date of or after acquiring control of a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subsidiary, which does not provide a present ownership interest, the non-controlling interest is recognised on</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:41.67pt\">initial acq</span><span class=\"f charStyle-a0f5a13b ps22400\" style=\"width:454.54pt\">uisition and, under Group policy choice while the non-controlling interests put remains unexercised, the</span><span class=\"f charStyle-a0f5a13b ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps56\" style=\"width:263.3pt\">accounting at the end of each reporting period is as follows:</span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.98pt\">the amount that would have been recognised for the non-controlling interest value is determined by including</span><span class=\"f charStyle-a0f5a13b ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:402.16pt\">allocations of profit or loss, changes in OCI and dividends declared for the reporting period;</span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:336.6pt\">the non-controlling interest is derecognised as if it was acquired at that date;</span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.96pt\">a financial liability is recognised at the present value of the amount payable on exercise of the non-controlling</span><span class=\"f charStyle-a0f5a13b ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:57.2pt\">interests put;</span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:365.31pt\">the Group accounts for the difference between (b) and (c) as an equity transaction.</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">If the non-controlling interests put expires unexercised, the position is unwound so that the non-controlling</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:440.51pt\">interest is recognised at the amount it would have been as if the put option had never been granted.</span><span class=\"f charStyle-2293a859 ps22401\" style=\"width:13.85pt\">\u00a0 \u00a0  </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">In the case of business combinations made in stages, the interest previously held by the Group in the acquired</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">business is revalued at fair value on the date on which the control is acquired, and any resulting gains or losses</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:211.05pt\">are recognised in the statement of profit or loss.</span><span class=\"f charStyle-2293a859 ps22402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:156.11pt\">Goodwill in a business combination</span></div><div class=\"ps7260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">The goodwill acquired in a business combination is allocated to the individual cash-generating units or to the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">groups of cash-generating units likely to benefit from merger synergies, regardless of whether other assets or</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.15pt\">liabilities from the acquisition are assigned to these units or groups of units.</span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">In the event of a business disposal, the goodwill of the cash-generating unit connected to the disposal is</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">included in the carrying value of the net items sold by measuring its relative fair value, having as reference the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:437.7pt\">proceeds from the sale and the most recent fair value attributed to the related cash-generating unit.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-486": {
   "value": "<div class=\"ps22384 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Acquisition and Sale of Businesses and Purchase of Non-Controlling Interests<span id=\"i8f33003f0e0242e4a7eb406f0ecf81d7\"></span></span></div><span class=\"f charStyle-2293a859 ps22395\" style=\"width:300.74pt\">Goodwill acquired in business combinations is initially measured at</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span><div class=\"ps22397 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">cost, as the excess of the sum of payments transferred as part of a business combination, the value of the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22398 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">portion of shareholders\u2019 equity relating to non-controlling interests and the fair value of any interest previously</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7857 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">held in the acquired business over the Group\u2019s portion of the net fair value of the identifiable assets, liabilities</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">and contingent liabilities of the acquired company. If the value of the net assets acquired and liabilities assumed</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7860 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">on the acquisition date exceeds the sum of the transferred payments, the value of the non-controlling interests\u2019</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7861 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">portion of shareholders\u2019 equity and the fair value of any interest previously held in the acquired business, this</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7862 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:394.34pt\">excess value is recorded in the statement of profit or loss as income from the transaction.</span><span class=\"f charStyle-2293a859 ps22399\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:477.92pt\">Definition of the business combination costs and shareholders\u2019 equity attributable to non-controlling interests</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">The cost of an acquisition is determined by the sum of the payments transferred as part of a business</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">combination, measured at fair value, on the acquisition date and at the value of the portion of shareholders\u2019<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">equity relating to non-controlling interests. Non-controlling interests relate to the portion of a consolidated</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">subsidiary shareholders\u2019 equity not directly or indirectly attributable to the Group. At the acquisition date,</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">components of non-controlling interests in the acquiree that are present ownership interests and entitle their</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:462.51pt\">holders to a proportionate share of the entity\u2019s net assets in the event of liquidation, are either measured:</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.03pt\">at the present ownership instruments\u2019 proportionate share in the recognised amounts of the acquiree\u2019s</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.97pt\">identifiable net assets, determined according to the rules set out by the accounting standard for business</span><span class=\"f charStyle-2293a859 ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:56.67pt\">combination;<span class=\"f ps21\"> </span></span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.42pt\">at fair value.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The designated methodology of measurement method of non-controlling interests is made for each business</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">combination on a transaction-by-transaction basis and is specified when the values deriving from the allocation</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:86.67pt\">process are shown.</span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">In the case of call options likely giving the acquirer present access to returns associated with the ownership</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">interest in the shares subject to the call, or in the case of put options granted to non-controlling interests giving</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">present access to the returns associated with the ownership interest in the shares subject to the non-controlling</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">interests put or in the case of a combination of both, it is assumed that the purchase will take place on the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">earliest possible date for the maximum number of shares and the business combination is accounted for as</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">though the acquisition is at 100% interest with the recognition of a financial liability at its fair value measured at</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">the present value of the expected cash outflow to be paid to the non-controlling shareholders at the expiry of the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">option as any contingent consideration; the liability is classified as a financial instrument and considered part of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">the acquisition consideration. Changes in the carrying amount of the financial liability are recognised in the</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.94pt\">statement of profit or loss.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">In the case of put option granted to non-controlling interests at the date of or after acquiring control of a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subsidiary, which does not provide a present ownership interest, the non-controlling interest is recognised on</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:41.67pt\">initial acq</span><span class=\"f charStyle-a0f5a13b ps22400\" style=\"width:454.54pt\">uisition and, under Group policy choice while the non-controlling interests put remains unexercised, the</span><span class=\"f charStyle-a0f5a13b ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps56\" style=\"width:263.3pt\">accounting at the end of each reporting period is as follows:</span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.98pt\">the amount that would have been recognised for the non-controlling interest value is determined by including</span><span class=\"f charStyle-a0f5a13b ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:402.16pt\">allocations of profit or loss, changes in OCI and dividends declared for the reporting period;</span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:336.6pt\">the non-controlling interest is derecognised as if it was acquired at that date;</span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.96pt\">a financial liability is recognised at the present value of the amount payable on exercise of the non-controlling</span><span class=\"f charStyle-a0f5a13b ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:57.2pt\">interests put;</span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:365.31pt\">the Group accounts for the difference between (b) and (c) as an equity transaction.</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">If the non-controlling interests put expires unexercised, the position is unwound so that the non-controlling</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:440.51pt\">interest is recognised at the amount it would have been as if the put option had never been granted.</span><span class=\"f charStyle-2293a859 ps22401\" style=\"width:13.85pt\">\u00a0 \u00a0  </span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Shareholders\u2019 Equity Attributable to Non-Controlling Interests<span id=\"i6ddebcb4bc494d54b2188a174807a082\"></span></span></div><div class=\"ps1254 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">For accounting policy over non-controlling interests relating to the portion of a subsidiary\u2019s shareholders\u2019 equity</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">that is not directly or indirectly attributable to the Group, please refer to note 4 i \u2018Acquisition and sale of</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:238.34pt\">businesses and purchase of non-controlling interests\u2019.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-485": {
   "value": "<div class=\"ps22384 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Acquisition and Sale of Businesses and Purchase of Non-Controlling Interests<span id=\"i8f33003f0e0242e4a7eb406f0ecf81d7\"></span></span></div><span class=\"f charStyle-2293a859 ps22395\" style=\"width:300.74pt\">Goodwill acquired in business combinations is initially measured at</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span><div class=\"ps22397 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">cost, as the excess of the sum of payments transferred as part of a business combination, the value of the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22398 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">portion of shareholders\u2019 equity relating to non-controlling interests and the fair value of any interest previously</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7857 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">held in the acquired business over the Group\u2019s portion of the net fair value of the identifiable assets, liabilities</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps7859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">and contingent liabilities of the acquired company. If the value of the net assets acquired and liabilities assumed</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7860 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">on the acquisition date exceeds the sum of the transferred payments, the value of the non-controlling interests\u2019</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7861 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">portion of shareholders\u2019 equity and the fair value of any interest previously held in the acquired business, this</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7862 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:394.34pt\">excess value is recorded in the statement of profit or loss as income from the transaction.</span><span class=\"f charStyle-2293a859 ps22399\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:477.92pt\">Definition of the business combination costs and shareholders\u2019 equity attributable to non-controlling interests</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">The cost of an acquisition is determined by the sum of the payments transferred as part of a business</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">combination, measured at fair value, on the acquisition date and at the value of the portion of shareholders\u2019<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">equity relating to non-controlling interests. Non-controlling interests relate to the portion of a consolidated</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">subsidiary shareholders\u2019 equity not directly or indirectly attributable to the Group. At the acquisition date,</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">components of non-controlling interests in the acquiree that are present ownership interests and entitle their</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:462.51pt\">holders to a proportionate share of the entity\u2019s net assets in the event of liquidation, are either measured:</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.03pt\">at the present ownership instruments\u2019 proportionate share in the recognised amounts of the acquiree\u2019s</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.97pt\">identifiable net assets, determined according to the rules set out by the accounting standard for business</span><span class=\"f charStyle-2293a859 ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:56.67pt\">combination;<span class=\"f ps21\"> </span></span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.42pt\">at fair value.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The designated methodology of measurement method of non-controlling interests is made for each business</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">combination on a transaction-by-transaction basis and is specified when the values deriving from the allocation</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:86.67pt\">process are shown.</span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">In the case of call options likely giving the acquirer present access to returns associated with the ownership</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">interest in the shares subject to the call, or in the case of put options granted to non-controlling interests giving</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">present access to the returns associated with the ownership interest in the shares subject to the non-controlling</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">interests put or in the case of a combination of both, it is assumed that the purchase will take place on the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">earliest possible date for the maximum number of shares and the business combination is accounted for as</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">though the acquisition is at 100% interest with the recognition of a financial liability at its fair value measured at</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">the present value of the expected cash outflow to be paid to the non-controlling shareholders at the expiry of the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">option as any contingent consideration; the liability is classified as a financial instrument and considered part of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">the acquisition consideration. Changes in the carrying amount of the financial liability are recognised in the</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.94pt\">statement of profit or loss.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">In the case of put option granted to non-controlling interests at the date of or after acquiring control of a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subsidiary, which does not provide a present ownership interest, the non-controlling interest is recognised on</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:41.67pt\">initial acq</span><span class=\"f charStyle-a0f5a13b ps22400\" style=\"width:454.54pt\">uisition and, under Group policy choice while the non-controlling interests put remains unexercised, the</span><span class=\"f charStyle-a0f5a13b ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps56\" style=\"width:263.3pt\">accounting at the end of each reporting period is as follows:</span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.98pt\">the amount that would have been recognised for the non-controlling interest value is determined by including</span><span class=\"f charStyle-a0f5a13b ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:402.16pt\">allocations of profit or loss, changes in OCI and dividends declared for the reporting period;</span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:336.6pt\">the non-controlling interest is derecognised as if it was acquired at that date;</span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:481.96pt\">a financial liability is recognised at the present value of the amount payable on exercise of the non-controlling</span><span class=\"f charStyle-a0f5a13b ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:57.2pt\">interests put;</span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a0f5a13b ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-a0f5a13b ps1256\" style=\"width:365.31pt\">the Group accounts for the difference between (b) and (c) as an equity transaction.</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">If the non-controlling interests put expires unexercised, the position is unwound so that the non-controlling</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:440.51pt\">interest is recognised at the amount it would have been as if the put option had never been granted.</span><span class=\"f charStyle-2293a859 ps22401\" style=\"width:13.85pt\">\u00a0 \u00a0  </span></div><div class=\"ps24594 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Shareholders\u2019 Equity<span id=\"icd9d2b9934a24489a733c940a8ef9e47\"></span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Changes in ownership interests referred to, and included, the impact of the movement of 2025 of non-controlling</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:165.53pt\">interests and connected liabilities, as </span><span class=\"f charStyle-58d8bcbe ps25462\" style=\"width:30.55pt\">follows</span><span class=\"f charStyle-58d8bcbe ps25463\" style=\"width:2.77pt\">.</span></div><div class=\"ps9519 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:150pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:95.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss876\"><div><div class=\"ps13338 ss871\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11951 ss289\"><div><div class=\"ps2579 ss288\"><span class=\"f charStyle-40131897 ps176\">net result of the period</span><span class=\"f charStyle-85922b7e ps25464\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23234 ss1404\"><div><div class=\"ps2578 ss1403\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate of the <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss1403\"><span class=\"f charStyle-183bdf94 ps132\">period &amp; other </span></div><div class=\"ps2580 ss1403\"><span class=\"f charStyle-183bdf94 ps132\">movements &amp; dividends</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14685 ss1885\"><div><div class=\"ps5026 ss1822\"><span class=\"f charStyle-183bdf94 ps132\">put and/or call option <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss1822\"><span class=\"f charStyle-183bdf94 ps132\">measurement</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12317 ss1886\"><div><div class=\"ps2415 ss942\"><span class=\"f charStyle-183bdf94 ps132\">total reclassification to <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss942\"><span class=\"f charStyle-183bdf94 ps132\">Group equity</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25465 ss588\"><div><div class=\"ps2415 ss288\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25466 ss1406\"><div><div class=\"ps2415 ss1403\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21451 ss1825\"><div><div class=\"ps2415 ss1822\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25467 ss943\"><div><div class=\"ps2415 ss942\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps2968 ss879\"><div><div class=\"ps476 ss871\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness Trail Distillery, LLC<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25468 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24054\">(12.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25470 ss1406\"><div><div class=\"ps476 ss1403\"><span class=\"f charStyle-183bdf94 ps25469\">(17.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14754 ss1825\"><div><div class=\"ps476 ss1822\"><span class=\"f charStyle-183bdf94 ps25471\">15.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25473 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25472\">(14.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5727 ss879\"><div><div class=\"ps476 ss871\"><span class=\"f charStyle-183bdf94 ps132\">Changes in ownership interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25474 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24054\">(12.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25475 ss1406\"><div><div class=\"ps476 ss1403\"><span class=\"f charStyle-183bdf94 ps25469\">(17.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23920 ss1825\"><div><div class=\"ps476 ss1822\"><span class=\"f charStyle-183bdf94 ps25471\">15.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25476 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25472\">(14.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25477 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:437.61pt\">Excluding the net result of the period of Bellonnie et Bourdillon group equal to a loss of \u20ac0.4 million and Courvoisier Group (negligible results).</span></div><div class=\"ps25526 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:76.5pt\"></td><td style=\"padding:0;width:76.5pt\"></td><td style=\"padding:0;width:76.5pt\"></td><td style=\"padding:0;width:76.5pt\"></td><td style=\"padding:0;width:76.5pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1887\"><div><div class=\"ps13337 ss266\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps13338 ss266\"><span class=\"f charStyle-183bdf94 ps132\">2024</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25482 ss1889\"><div><div class=\"ps2578 ss1888\"><span class=\"f charStyle-183bdf94 ps25480\">reclassification of <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss1888\"><span class=\"f charStyle-183bdf94 ps20849\">initial non-controlling </span></div><div class=\"ps2580 ss1888\"><span class=\"f charStyle-183bdf94 ps25481\">interest value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12102 ss1889\"><div><div class=\"ps5026 ss1888\"><span class=\"f charStyle-40131897 ps12320\">net result of the </span></div><div class=\"ps5028 ss1888\"><span class=\"f charStyle-40131897 ps25483\">period</span><span class=\"f charStyle-85922b7e ps25484\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22417 ss1889\"><div><div class=\"ps5026 ss1888\"><span class=\"f charStyle-183bdf94 ps24214\">exchange rate of the <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss1888\"><span class=\"f charStyle-183bdf94 ps25485\">period</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23361 ss1889\"><div><div class=\"ps5026 ss1888\"><span class=\"f charStyle-183bdf94 ps5245\">put and/or call option <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss1888\"><span class=\"f charStyle-183bdf94 ps25486\">measurement</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8256 ss1889\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps17686\">total reclassification to <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss1888\"><span class=\"f charStyle-183bdf94 ps25487\">Group equity</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25488 ss1890\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps16144\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25489 ss1890\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps16144\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25490 ss1890\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps16144\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25491 ss1890\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps16144\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8269 ss1890\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps16144\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2968 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps132\">Ancho Reyes and Montelobos<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25493 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25495 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25496 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25498 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25497\">3.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25499 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25497\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5727 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps132\">Champagne Lallier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25500 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25501 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25502 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25503 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25504 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5196 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps132\">Trans Beverages Company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25505 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25506 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25507 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25508 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25509 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps924 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness Trail Distillery, LLC<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25510 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25511 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(4.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25513 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25512\">12.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25514 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25512\">43.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25515 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25512\">51.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps928 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps132\">Thirsty Camel Ltd.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25516 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25497\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25517 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25518 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25519 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25520 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6443 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps132\">Changes in ownership interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25521 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-ba8ac8da ps25497\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25522 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-ba8ac8da ps25494\">(8.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25523 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-ba8ac8da ps25512\">12.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25524 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-ba8ac8da ps25512\">46.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25525 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-ba8ac8da ps25512\">50.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25528 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:414.29pt\">Excluding the net result of the period of Bellonnie et Bourdillon group equal to \u20ac(0.3) million and Courvoisier Group (negligible results).</span><span class=\"f charStyle-40131897 ps25527\" style=\"width:11.64pt\">\u00a0 \u00a0 \u00a0 </span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Shareholders\u2019 Equity Attributable to Non-Controlling Interests<span id=\"i6ddebcb4bc494d54b2188a174807a082\"></span></span></div><div class=\"ps1254 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">For accounting policy over non-controlling interests relating to the portion of a subsidiary\u2019s shareholders\u2019 equity</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">that is not directly or indirectly attributable to the Group, please refer to note 4 i \u2018Acquisition and sale of</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:238.34pt\">businesses and purchase of non-controlling interests\u2019.</span></div><div class=\"ps1266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure<span class=\"f ps21\"> </span></span></div><div class=\"ps1267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:257.19pt\">The changes during the year are reflected in the following </span><span class=\"f charStyle-58d8bcbe ps25712\" style=\"width:21.67pt\">table</span><span class=\"f charStyle-58d8bcbe ps25713\" style=\"width:2.77pt\">.</span></div><div class=\"ps10315 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:111pt\"></td><td style=\"padding:0;width:96pt\"></td><td style=\"padding:0;width:96pt\"></td><td style=\"padding:0;width:96pt\"></td><td style=\"padding:0;width:96pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss525\"><div><div class=\"ps2776 ss518\"><span class=\"f charStyle-183bdf94 ps132\">non-controlling interests<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss518\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25716 ss1897\"><div><div class=\"ps2776 ss1669\"><span class=\"f charStyle-183bdf94 ps25714\">Bellonnie et<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1669\"><span class=\"f charStyle-183bdf94 ps25715\">Bourdillon group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4586 ss1897\"><div><div class=\"ps979 ss1669\"><span class=\"f charStyle-183bdf94 ps25717\">Wilderness Trail Distillery<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25718 ss1897\"><div><div class=\"ps979 ss1669\"><span class=\"f charStyle-183bdf94 ps575\">Courvoisier Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18448 ss1897\"><div><div class=\"ps979 ss1669\"><span class=\"f charStyle-183bdf94 ps25719\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25721 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4595 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25723 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25724 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">net result<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25726 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25725\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4607 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25727\">(12.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25728 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25729 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25727\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">translation difference<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25730 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4617 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25727\">(19.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25731 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25732 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25727\">(19.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25733 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25720\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25734 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25720\">2.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25735 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25736 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25720\">2.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">reclassification to group net equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25737 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25739 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25738\">29.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25740 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25741 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps25738\">29.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25742 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25743 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25722\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25744 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25745 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-ba8ac8da ps25720\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25799 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:111pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss877\"><div><div class=\"ps5026 ss518\"><span class=\"f charStyle-183bdf94 ps132\">non-controlling interests<span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss518\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25716 ss1373\"><div><div class=\"ps2578 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Bellonnie et<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Bourdillon <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss46\"><span class=\"f charStyle-183bdf94 ps132\">group</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1130 ss1373\"><div><div class=\"ps2578 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Ancho Reyes <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss46\"><span class=\"f charStyle-183bdf94 ps132\">and </span></div><div class=\"ps2580 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Montelobos</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25746 ss1373\"><div><div class=\"ps5026 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Trans <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Beverages</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16213 ss1373\"><div><div class=\"ps5026 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Trail Distillery</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1072 ss1373\"><div><div class=\"ps5026 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Thirsty Camel <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Ltd.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11961 ss1373\"><div><div class=\"ps5026 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Courvoisier <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss46\"><span class=\"f charStyle-183bdf94 ps132\">Group</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps12796 ss1373\"><div><div class=\"ps13338 ss46\"><span class=\"f charStyle-183bdf94 ps132\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7726 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25747 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25748 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25749 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25750 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25751 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25752 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25753 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">1.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2968 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">net result<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25754 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25755 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25756 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25757 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(4.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15796 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25758 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps25759 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5727 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">translation difference<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25760 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25761 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25762 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25763 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6862\">10.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps15748 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25764 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25765 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6862\">10.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5196 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">perimeter effect for acquisition<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25766 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25767 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25768 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25769 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14022 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25770 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25771 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps924 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25772 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25773 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25774 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25775 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25776 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25777 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25778 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">2.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps928 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">dividends<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25779 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25780 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25781 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25782 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25783 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25784 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25785 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6443 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps132\">reclassification to group net equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25786 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25787 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25788 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25789 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(7.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25790 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6882\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25791 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25792 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-183bdf94 ps6865\">(3.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7572 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25793 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25794 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25795 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25796 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15751 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps16144\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25797 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25798 ss47\"><div><div class=\"ps476 ss46\"><span class=\"f charStyle-ba8ac8da ps6882\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25816 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:201pt\"></td><td style=\"padding:0;width:81.75pt\"></td><td style=\"padding:0;width:106.5pt\"></td><td style=\"padding:0;width:106.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">Company name<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18720 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25800\">Country of business<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24382 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94 ps25801\">% of minority interest 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24384 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94 ps25801\">% of minority interest 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">Bellonnie et Bourdillon group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18726 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25802\">Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24961 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">1.17</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25805 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">3.47</span><span class=\"ps25804\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness Trail Distillery, LLC<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14475 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps23494\">United States<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25806 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">30.0</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25807 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">30.0</span><span class=\"ps25804\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">SCEA Domaine Guilloteau<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14483 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25808\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25809 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">15.0</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25810 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">15.0<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">SICA des Baronnies de Jarnac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14495 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25808\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25811 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">83.6</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25812 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">83.6<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">SICA Quinze des Borderies et Champagnes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14506 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25808\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25813 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">94.6</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25814 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">94.6<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss832\"><div><div class=\"ps485 ss831\"><span class=\"f charStyle-183bdf94 ps132\">Association Coop\u00e9rative des Bouilleurs de Cru<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps14517 ss1898\"><div><div class=\"ps485 ss1843\"><span class=\"f charStyle-183bdf94 ps25808\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps24987 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">98.0</span><span class=\"ps25804\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25815 ss1900\"><div><div class=\"ps485 ss1899\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25803\"></span><span class=\"ps25803\">98.0<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">The financial statements of the subsidiaries shown below are based on the same accounting standards applied</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps25820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:61.64pt\">for the Group.</span><span class=\"f charStyle-58d8bcbe ps25819\" style=\"width:2.77pt\"> </span></div><div class=\"ps25863 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:173.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td></tr><tr style=\"height:36pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1902\"><div><div class=\"ps1083 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">for the year ended 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8954 ss1903\"><div><div class=\"ps2374 ss618\"><span class=\"f charStyle-183bdf94 ps6491\">total non-controlling <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss618\"><span class=\"f charStyle-183bdf94 ps25822\">interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20844 ss1903\"><div><div class=\"ps2374 ss618\"><span class=\"f charStyle-183bdf94 ps14963\">Bellonnie et Bourdillon <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss618\"><span class=\"f charStyle-183bdf94 ps25823\">group</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25825 ss1903\"><div><div class=\"ps2374 ss618\"><span class=\"f charStyle-183bdf94 ps24724\">Wilderness Trail <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss618\"><span class=\"f charStyle-183bdf94 ps25824\">Distillery</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24097 ss1903\"><div><div class=\"ps1083 ss618\"><span class=\"f charStyle-183bdf94 ps23495\">Courvoisier Group<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps10737 ss1904\"><div><div class=\"ps485 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Net sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8985 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">85.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20861 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">20.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25828 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">2.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25829 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">64.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps1089 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Profit (loss) for the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25831 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25830\">(67.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps20871 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25832\">(11.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:1pt solid #000;padding:0\"><div class=\"ps25833 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25830\">(45.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:1pt solid #000;padding:0\"><div class=\"ps25835 ss1905\"><div><div class=\"ps485 ss618\"><span class=\"f charStyle-ba8ac8da ps25834\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps5494 ss1906\"><div><div class=\"ps1094 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Profit (loss) for the period <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">attributable to non-controlling interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25836 ss628\"><div><div class=\"ps473 ss618\"><span class=\"f charStyle-ba8ac8da ps25830\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps20885 ss628\"><div><div class=\"ps473 ss618\"><span class=\"f charStyle-ba8ac8da ps25834\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:1pt solid #000;padding:0\"><div class=\"ps25837 ss628\"><div><div class=\"ps473 ss618\"><span class=\"f charStyle-ba8ac8da ps25830\">(12.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:1pt solid #000;padding:0\"><div class=\"ps25838 ss628\"><div><div class=\"ps473 ss618\"><span class=\"f charStyle-183bdf94 ps21514\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9031 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">218.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20896 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">54.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25840 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">43.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25841 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">52.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps9042 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">563.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25842 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">59.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25843 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">436.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25844 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps9054 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">140.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25845 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">32.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25846 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">14.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25847 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">44.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Non-current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps9067 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">8.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25848 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25849 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25850 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25827\">8.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps6300 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Net assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25851 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">633.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25852 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25826\">79.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25853 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-183bdf94 ps25839\">462.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25854 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps5134 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Net assets attributable to non-controlling interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25855 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25839\">156.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25856 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25857 ss1905\"><div><div class=\"ps476 ss618\"><span class=\"f charStyle-ba8ac8da ps25839\">138.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;padding:0\"><div class=\"ps25858 ss1905\"><div><div class=\"ps485 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1907\"><div><div class=\"ps13336 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Of which represented as non-controlling interest <span class=\"f ps21\"> </span></span></div><div class=\"ps13337 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">in Campari Group statement </span></div><div class=\"ps13338 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">of changes in shareholders' equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25859 ss1908\"><div><div class=\"ps13338 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25860 ss1908\"><div><div class=\"ps13338 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25861 ss1908\"><div><div class=\"ps13338 ss618\"><span class=\"f charStyle-ba8ac8da ps21514\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25862 ss1908\"><div><div class=\"ps13338 ss618\"><span class=\"f charStyle-ba8ac8da ps25827\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:173.25pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:48pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1907\"><div><div class=\"ps2579 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">for the year ended 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8954 ss1655\"><div><div class=\"ps2578 ss269\"><span class=\"f charStyle-183bdf94 ps25864\">total non-<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss269\"><span class=\"f charStyle-183bdf94 ps25865\">controlling </span></div><div class=\"ps2580 ss269\"><span class=\"f charStyle-183bdf94 ps25866\">interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps16234 ss1655\"><div><div class=\"ps2578 ss269\"><span class=\"f charStyle-183bdf94 ps25867\">Bellonnie et <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss269\"><span class=\"f charStyle-183bdf94 ps25868\">Bourdillon </span></div><div class=\"ps2580 ss269\"><span class=\"f charStyle-183bdf94 ps25869\">group</span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14807 ss1655\"><div><div class=\"ps2578 ss269\"><span class=\"f charStyle-183bdf94 ps25870\">Ancho <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss269\"><span class=\"f charStyle-183bdf94 ps4513\">Reyes and </span></div><div class=\"ps2580 ss269\"><span class=\"f charStyle-183bdf94 ps18328\">Montelobos</span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25872 ss1655\"><div><div class=\"ps2578 ss269\"><span class=\"f charStyle-183bdf94 ps25871\">Trans <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss269\"><span class=\"f charStyle-183bdf94 ps4513\">Beverages </span></div><div class=\"ps2580 ss269\"><span class=\"f charStyle-183bdf94 ps21376\">Co</span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25874 ss1655\"><div><div class=\"ps2578 ss269\"><span class=\"f charStyle-183bdf94 ps4264\">Wilderness <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss269\"><span class=\"f charStyle-183bdf94 ps4361\">Trail </span></div><div class=\"ps2580 ss269\"><span class=\"f charStyle-183bdf94 ps25873\">Distillery</span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25875 ss1655\"><div><div class=\"ps5026 ss269\"><span class=\"f charStyle-183bdf94 ps18373\">Thirsty <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss269\"><span class=\"f charStyle-183bdf94 ps25865\">Camel Ltd</span></div></div></div></td><td style=\"border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps13609 ss1863\"><div><div class=\"ps5026 ss655\"><span class=\"f charStyle-183bdf94 ps25876\">Courvoisier <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss655\"><span class=\"f charStyle-183bdf94 ps25877\">Group</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps2968 ss1904\"><div><div class=\"ps485 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Net sales<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25878 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4690\">112.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25879 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25880 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">7.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25881 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">21.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25882 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">31.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25883 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">19.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24227 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps11680\">35.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps5727 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Profit (loss) for the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25884 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24224\">(37.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25885 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24224\">(10.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25886 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(4.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25887 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25888 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(6.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25889 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(4.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;padding:0\"><div class=\"ps24235 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-ba8ac8da ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5196 ss1906\"><div><div class=\"ps1094 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Profit (loss) for the period <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">attributable to non-controlling interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25890 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25891 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25892 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25893 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25894 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(4.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25895 ss1652\"><div><div class=\"ps473 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24245 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps510 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25896 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">221.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25897 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">58.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25898 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">14.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25899 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">17.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25900 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">47.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25901 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">21.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25902 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps11680\">55.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps515 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25903 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">659.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25904 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">50.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25905 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">5.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25906 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25907 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">541.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25908 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">5.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25910 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps25909\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps8324 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25911 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">284.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25912 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">85.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25913 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">22.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25914 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">13.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25915 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps3320\">11.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25916 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">28.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25917 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps11680\">54.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps5120 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Non-current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25918 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps3320\">11.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25919 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">2.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25920 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25921 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25922 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">4.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25923 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"><div class=\"ps25924 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps25909\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps3384 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-183bdf94 ps132\">Net assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25925 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">585.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25926 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4719\">21.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25927 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(3.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25928 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24301\">4.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25929 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps4615\">572.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps25930 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-183bdf94 ps24241\">(3.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;padding:0\"><div class=\"ps25931 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-ba8ac8da ps25909\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25932 ss1904\"><div><div class=\"ps476 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Net assets attributable to non-controlling interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25933 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps4615\">170.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25934 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps24301\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25935 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25936 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps24301\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25937 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps4615\">171.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25938 ss270\"><div><div class=\"ps476 ss269\"><span class=\"f charStyle-ba8ac8da ps24241\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25939 ss976\"><div><div class=\"ps485 ss655\"><span class=\"f charStyle-ba8ac8da ps25909\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps20258 ss1907\"><div><div class=\"ps13336 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">Of which represented as non-controlling interest <span class=\"f ps21\"> </span></span></div><div class=\"ps13337 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">in Campari Group statement </span></div><div class=\"ps13338 ss1901\"><span class=\"f charStyle-ba8ac8da ps132\">of changes in shareholders' equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25940 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps24301\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25941 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps24301\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25942 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps11724\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25943 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps11724\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25944 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps11724\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25945 ss1655\"><div><div class=\"ps13338 ss269\"><span class=\"f charStyle-ba8ac8da ps11724\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25946 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-ba8ac8da ps25909\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25947 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">viii.\u00a0  Transactions with Non-Controlling Interests<span id=\"icc785a6017b746c0810a1d3eda4304f5\"></span></span></div><div class=\"ps1285 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:278.84pt\">There were no other transactions with non-controlling interests </span><span class=\"f charStyle-58d8bcbe ps25948\" style=\"width:143.89pt\">for the year ended 31 December</span><span class=\"f charStyle-58d8bcbe ps25949\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-58d8bcbe ps25950\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps25951\" style=\"width:2.77pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-484": {
   "value": "<div class=\"ps22384 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Acquisition and Sale of Businesses and Purchase of Non-Controlling Interests<span id=\"i8f33003f0e0242e4a7eb406f0ecf81d7\"></span></span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:156.11pt\">Goodwill in a business combination</span></div><div class=\"ps7260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">The goodwill acquired in a business combination is allocated to the individual cash-generating units or to the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">groups of cash-generating units likely to benefit from merger synergies, regardless of whether other assets or</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.15pt\">liabilities from the acquisition are assigned to these units or groups of units.</span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">In the event of a business disposal, the goodwill of the cash-generating unit connected to the disposal is</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">included in the carrying value of the net items sold by measuring its relative fair value, having as reference the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:437.7pt\">proceeds from the sale and the most recent fair value attributed to the related cash-generating unit.</span><span class=\"f charStyle-2293a859 ps22403\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:82.78pt\">Business disposal </span><span class=\"f charStyle-ca5f4806 ps22404\" style=\"width:48.9pt\">recognition</span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">The assets and liabilities of the disposal group are classified as held for sale and measured at their relative fair</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">values at the date of classification. Relative fair value is determined reflecting the price that would be received to</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">sell an asset or paid to transfer a liability in an orderly transaction between market participants. The relative fair</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">value method is used to allocate the consideration received proportionally to the fair values of the identifiable</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">assets and liabilities in the disposal group. Where goodwill has been allocated to a cash-generating unit ('CGU')</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">disposed in these circumstances is measured based on the relative values of the disposed operation and the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">portion of the cash-generating unit retained. Any difference between the carrying amount and the allocated fair</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:256.04pt\">value is recognised in profit or loss at the time of disposal.</span></div><div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:224.93pt\">Intangible assets with indefinite life impairment test</span></div><div class=\"ps1227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Goodwill, brands and other intangible assets with an indefinite life are not amortised and are reviewed for</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impairment tests every year or more frequently if there is any indication that the asset may be impaired. The</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">annual approval of the impairment test results is performed by the Board of Directors of Davide Campari-Milano</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:480.15pt\">N.V., which takes place before the approval of the annual financial reports (consolidated and Company only).</span><span class=\"f charStyle-2293a859 ps22571\" style=\"width:2.77pt\"> </span></div><div class=\"ps1559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The ability to recover assets is ascertained by comparing the carrying amount to the related recoverable value,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:413.26pt\">which is represented by the higher of the fair value less cost of disposal, and the value in use.</span></div><div class=\"ps1561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">In the absence of a binding sale agreement, the fair value is estimated on the basis of recent transaction values</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">in an active market, or based on the best information available to determine the amount that could be obtained</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">from selling the asset. The value in use is determined by discounting expected cash flows resulting from the use</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">of the asset, and, if significant and reasonably determinable, the cash flows resulting from its sale at the end of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">its useful life. Cash flows are determined on the basis of reasonable, documented assumptions representing the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">best estimate of the future economic conditions that will occur during the remaining useful life of the asset, with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps9942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">greater weight given to external information. Growth rate assumptions are applied to the years beyond the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:479.75pt\">business plan horizon. The discount rate applied takes into account the implicit risk of the business segment.</span></div><div class=\"ps9944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">When it is not possible to determine the recoverable value of an individual asset, the Group estimates the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:323.32pt\">recoverable value of the cash-generating unit to which the asset belongs.</span></div><div class=\"ps9946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Impairment loss is recorded if the recoverable value of an asset is lower than its carrying amount by posting the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">related cost in the statement of profit or loss and is charged to other operating expenses. Goodwill impairments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:133.32pt\">can no longer be written back.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-483": {
   "value": "<div class=\"ps22384 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Acquisition and Sale of Businesses and Purchase of Non-Controlling Interests<span id=\"i8f33003f0e0242e4a7eb406f0ecf81d7\"></span></span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:156.11pt\">Goodwill in a business combination</span></div><div class=\"ps7260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">The goodwill acquired in a business combination is allocated to the individual cash-generating units or to the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">groups of cash-generating units likely to benefit from merger synergies, regardless of whether other assets or</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.15pt\">liabilities from the acquisition are assigned to these units or groups of units.</span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">In the event of a business disposal, the goodwill of the cash-generating unit connected to the disposal is</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">included in the carrying value of the net items sold by measuring its relative fair value, having as reference the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:437.7pt\">proceeds from the sale and the most recent fair value attributed to the related cash-generating unit.</span><span class=\"f charStyle-2293a859 ps22403\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:82.78pt\">Business disposal </span><span class=\"f charStyle-ca5f4806 ps22404\" style=\"width:48.9pt\">recognition</span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">The assets and liabilities of the disposal group are classified as held for sale and measured at their relative fair</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">values at the date of classification. Relative fair value is determined reflecting the price that would be received to</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">sell an asset or paid to transfer a liability in an orderly transaction between market participants. The relative fair</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">value method is used to allocate the consideration received proportionally to the fair values of the identifiable</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">assets and liabilities in the disposal group. Where goodwill has been allocated to a cash-generating unit ('CGU')</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">disposed in these circumstances is measured based on the relative values of the disposed operation and the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">portion of the cash-generating unit retained. Any difference between the carrying amount and the allocated fair</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:256.04pt\">value is recognised in profit or loss at the time of disposal.</span></div><div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:224.93pt\">Intangible assets with indefinite life impairment test</span></div><div class=\"ps1227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Goodwill, brands and other intangible assets with an indefinite life are not amortised and are reviewed for</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impairment tests every year or more frequently if there is any indication that the asset may be impaired. The</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">annual approval of the impairment test results is performed by the Board of Directors of Davide Campari-Milano</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:480.15pt\">N.V., which takes place before the approval of the annual financial reports (consolidated and Company only).</span><span class=\"f charStyle-2293a859 ps22571\" style=\"width:2.77pt\"> </span></div><div class=\"ps1559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The ability to recover assets is ascertained by comparing the carrying amount to the related recoverable value,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:413.26pt\">which is represented by the higher of the fair value less cost of disposal, and the value in use.</span></div><div class=\"ps1561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">In the absence of a binding sale agreement, the fair value is estimated on the basis of recent transaction values</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">in an active market, or based on the best information available to determine the amount that could be obtained</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">from selling the asset. The value in use is determined by discounting expected cash flows resulting from the use</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">of the asset, and, if significant and reasonably determinable, the cash flows resulting from its sale at the end of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">its useful life. Cash flows are determined on the basis of reasonable, documented assumptions representing the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">best estimate of the future economic conditions that will occur during the remaining useful life of the asset, with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps9942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">greater weight given to external information. Growth rate assumptions are applied to the years beyond the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:479.75pt\">business plan horizon. The discount rate applied takes into account the implicit risk of the business segment.</span></div><div class=\"ps9944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">When it is not possible to determine the recoverable value of an individual asset, the Group estimates the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:323.32pt\">recoverable value of the cash-generating unit to which the asset belongs.</span></div><div class=\"ps9946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Impairment loss is recorded if the recoverable value of an asset is lower than its carrying amount by posting the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">related cost in the statement of profit or loss and is charged to other operating expenses. Goodwill impairments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:133.32pt\">can no longer be written back.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps22574 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:101.39pt\">Goodwill and Brands<span id=\"ie5c19969652249c1b0018fd4937c14cb\"></span></span><span class=\"f charStyle-562c451e ps22573\" style=\"width:3.05pt\"> </span></div><div class=\"ps22629 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:203.25pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22577 ss377\"><div><div class=\"ps979 ss37\"><span class=\"f charStyle-183bdf94 ps22576\">goodwill<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22579 ss377\"><div><div class=\"ps2776 ss37\"><span class=\"f charStyle-183bdf94 ps16215\">brands with an <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss37\"><span class=\"f charStyle-183bdf94 ps22578\">indefinite life</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10810 ss377\"><div><div class=\"ps2776 ss37\"><span class=\"f charStyle-183bdf94 ps22580\">brands with a finite <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss37\"><span class=\"f charStyle-183bdf94 ps22581\">life</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss377\"><div><div class=\"ps979 ss37\"><span class=\"f charStyle-183bdf94 ps22582\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22583 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22584 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22585 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22160 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22586 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">2,422.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22587 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">1,415.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22588 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">31.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22164 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">3,870.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Cumulative impairment at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22590 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22591 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(103.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22592 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(29.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22169 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(135.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22593 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">2,420.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22594 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">1,312.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22596 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22172 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">3,735.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Disposals<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22597 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(23.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22598 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(6.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22600 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22601 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(29.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Amortisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22602 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22603 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22604 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22605 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Impairment loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22606 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22607 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(67.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22608 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8789 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(67.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22609 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(145.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22610 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(46.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22611 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22612 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(192.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5271 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Reclassification as assets held for sale<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22613 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(18.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22614 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(47.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22615 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22616 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(66.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22617 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">2,233.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22618 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">1,144.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22619 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22620 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">3,377.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22621 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">2,236.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22622 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">1,315.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22623 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">31.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.25pt dotted #c0c0c0;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22624 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">3,582.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4652 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Cumulative impairment at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22625 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22626 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(170.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22627 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(31.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22628 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(204.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22631 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:203.25pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22577 ss377\"><div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22576\">goodwill<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22579 ss377\"><div><div class=\"ps1094 ss37\"><span class=\"f charStyle-183bdf94 ps16215\">brands with an <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22578\">indefinite life</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10810 ss377\"><div><div class=\"ps1094 ss37\"><span class=\"f charStyle-183bdf94 ps22580\">brands with a finite <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22581\">life</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss377\"><div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22582\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22583 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22584 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22585 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22160 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22586 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">1,853.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22587 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">1,204.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22588 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">31.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22164 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">3,089.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps490 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Cumulative impairment at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22590 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22591 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(52.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22592 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(27.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22169 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(82.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps498 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22593 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">1,850.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22594 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">1,151.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22596 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">4.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22172 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">3,006.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps505 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Perimeter effect from business combination<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22597 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">507.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22598 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">189.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22600 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22601 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">696.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Additions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22602 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22603 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">1.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22604 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22605 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">1.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Impairment loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22606 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22607 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(50.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22608 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8789 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(50.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Amortisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22609 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22610 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22611 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22612 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22613 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">61.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22614 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">20.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22615 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22616 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">82.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22617 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">2,420.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22618 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">1,312.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22619 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22620 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">3,735.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22621 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">2,422.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22622 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">1,415.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22623 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">31.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.25pt dotted #c0c0c0;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22624 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">3,870.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4652 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Cumulative impairment at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22625 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22626 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(103.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22627 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(29.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22628 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(135.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22633 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">The changes during the period primarily concerned the negative exchange rate differences on goodwill and</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps22636 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:271.57pt\">brands denominated in local currencies, for a total of \u20ac</span><span class=\"f charStyle-58d8bcbe ps22634\" style=\"width:25.01pt\">192.3</span><span class=\"f charStyle-58d8bcbe ps22635\" style=\"width:199.65pt\"> million, which was mainly related to the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22639 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:267.21pt\">depreciation of the US$. Additionally, a total decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps22637\" style=\"width:19.45pt\">29.2</span><span class=\"f charStyle-58d8bcbe ps22638\" style=\"width:209.46pt\"> million, relating to the disposal of the bottling</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22640 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">manufacturing facility in Australia and the Cinzano and Frattina business. The allocation of goodwill and brands</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22641 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">to the disposal group for the Averna and Zedda Piras businesses was recognised in 2025 for a total amount of</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps22643 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:58.88pt\">\u20ac66.2 million.</span><span class=\"f charStyle-58d8bcbe ps22642\" style=\"width:2.77pt\"> </span></div><div class=\"ps22644 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Intangible assets with an indefinite life are represented by goodwill and brands, both associated with business</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17205 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">acquisitions. The Group expects to obtain positive cash flow from these assets for an indefinite period of time.</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22645 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Given the current environment marked by ongoing volatility and exposure to downside risks, including potentially</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22646 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">weak business sentiment and muted growth expectations also connected with the evolving United States import</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22647 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">tariffs introduced under the Trump Administration, the Group performed an impairment trigger assessment on</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps22649 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:342.42pt\">goodwill and brands. This assessment confirmed that an impairment loss of \u20ac</span><span class=\"f charStyle-58d8bcbe ps22648\" style=\"width:19.45pt\">67.4</span><span class=\"f charStyle-58d8bcbe ps15454\" style=\"width:134.33pt\"> million was recognised on the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22650 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">brands of Cabo Wabo, Forty Creek and Wilderness Trail Distillery (refer to paragraph 'Impairment test' for further</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22652 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:424.92pt\">details), while these events did not result in any material change in the recoverability of goodwill.</span><span class=\"f charStyle-58d8bcbe ps22651\" style=\"width:2.77pt\"> </span></div><div class=\"ps22678 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:54.96pt\">Impairment<span id=\"i43f18b7eddc347e4aac05e7f23d934b8\"></span></span><span class=\"f charStyle-562c451e ps6931\" style=\"width:20.76pt\"> test</span><span class=\"f charStyle-562c451e ps22677\" style=\"width:3.05pt\"> </span></div><div class=\"ps48 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">In line with prior years, the approval of the Group\u2019s annual assessment of the recoverability of intangible assets</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps49 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">with an indefinite useful life was completed prior to the 2025 year\u2011end. Accordingly, the carrying amount of such</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps50 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">intangible assets, i.e., the amount at which the assets are recognised in the Group\u2019s Consolidated Statement of</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps51 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Financial Position, was determined as at 30 September 2025, representing the most recent actual data available</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps2248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">at the time of the assessment. The outcomes of the impairment tests remained valid as at 31 December 2025,</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps2250 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">as no events or indicators of impairment arose during the fourth quarter of 2025 that would suggest a material</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps2252 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:359.4pt\">reduction in either the carrying amounts or the recoverable amounts of the assets</span><span class=\"f charStyle-58d8bcbe ps22679\" style=\"width:2.77pt\">.</span></div><div class=\"ps2253 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Consistent with previous years, the Group considered the business plan, including the 2026 budget and</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps2254 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">2027-2028 strategic plans (drafted by the Group\u2019s companies in 2025 and approved by the Board of Directors of</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps2255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Davide Campari-Milano N.V.), as the basis of the annual impairment test. Moreover, cash flow projections are</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">extrapolated beyond the plan period covered to be adapted for a ten-year period, with growth rates gradually</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps2260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">normalising towards the level of the perpetuity growth rate. The use of a ten-year period is justified by the long</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps2261 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">lifecycle of the brands with respect to the reference markets, and it also takes into account the long ageing</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps2262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">process of certain brands. Assumptions of future cash flows were made based on the conservative approach, in</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">terms of both expected growth rates and operating margin trends. In addition, projections were based on</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">reasonableness, prudence and consistency regarding the allocation of future selling, general and administrative</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22680 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">expenses, trends in capital investment, conditions of financial equilibrium and the main macroeconomic</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">variables. Cash flow projections relate to current operating conditions and therefore do not include cash flows</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:312.19pt\">connected with extraordinary events that are not currently foreseeable.</span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Regarding climate-related matters, the business plan considered the necessary investments to pursue the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Group\u2019s global sustainability strategy, including the path to decarbonisation based on challenging and ambitious</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">medium- and long-term environmental targets committed. Such investments were taken into account also in</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:174.95pt\">long horizon (i.e., in the terminal value).</span><span class=\"f charStyle-58d8bcbe ps22681\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">Regarding currencies, it should be noted that the projections were determined based on the exchange rates to</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">\u20ac, assumed unchanged to the ones used for drafting the 2026 budget. Although applicable IFRS principles</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">require that exchange rates are assumed flat to the current fiscal year over the time horizon, the fluctuations of</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:417.74pt\">2026 budgeted currencies are estimated not to have a meaningful impact on future cash flows.</span></div><div class=\"ps15682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">Goodwill values were tested at the aggregate level based on the values allocated to the three cash\u2010generating</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps15683 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">units ('CGUs'), i.e., EMEA CGU, Americas CGU, and Asia-Pacific CGU, in line with the Group\u2019s geographical</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15684 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">segment reporting. This structure reflects the lowest level at which goodwill is monitored by the Group and is</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15685 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">considered appropriate, given the synergies and efficiencies obtained at regional level based on its current</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps15686 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:106.66pt\">organisational structure.</span></div><div class=\"ps15687 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The allocation of goodwill for each CGU is based on the previous allocation values, adjusted to consider the</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps15688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">exchange rate effects and other variations such as perimeter change. The carrying amounts of the CGUs were</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15689 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">determined by combining the goodwill, the brand values allocated based on the profitability achieved by the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps15690 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">brand in each CGU, as well as the fixed assets and working capital, which were mainly allocated based on the</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps15691 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">relevant sales achieved in each CGU. The recoverable amounts of the CGUs were determined based on the</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">\u2018value in use\u2019 methodology. The asset value is measured by discounting the estimated future cash flows</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps15693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">generated by the continued use of such asset. Expected cash flows, which were based on the Group\u2019s cash</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps15694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">flow estimates, were discounted using a post\u2010tax discount rate, reflecting both the time value of money and a</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps2088 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">further adjustment to include the market risk and the specific risks for the business of the relevant CGU. In the</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps15695 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">impairment test performed, it has been verified that the use of a post-tax approach provides consistent results</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps15696 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:350.57pt\">with the ones which would have been obtained by adopting a pre-tax approach.</span></div><div class=\"ps15697 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">The main assumptions used in calculating the value in use of the CGUs are the long-term growth rates and</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps15698 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">discount rates. Terminal value was determined using the perpetuity growth method of discounting. Specifically, a</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15699 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">conservative perpetual growth rate was used that corresponds to the estimated inflation rates of the consumer</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps15700 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">price for the period 2026\u20102030 for the Group\u2019s key markets (source: IMF, October 2025 release), assumed to be</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15701 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">2.2% for the EMEA CGU, 2.9% for the Americas CGU and 2.4% for the Asia-Pacific CGU or 2.5% for the Group</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps15702 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">overall. The value in use of the CGUs was calculated by discounting the estimated value of future cash flows,</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps15703 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">including the terminal value, which it is assumed will derive from the continuing use of the assets, at a discount</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17522 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">rate (net of taxes and adjusted for risk) that reflects the average weighted cost of capital. Specifically, the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22683 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">discount rate used was the Weighted Average Cost of Capital (\u2018WACC\u2019), which depends on the risk associated</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22684 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">with the estimated cash flows. The WACC was determined based on observable indicators and market</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps22685 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">parameters, the current value of money and the specific risks connected with the business of the relevant CGU.</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.59pt\"> </span></div><div class=\"ps22686 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">The calculation of WACC was in line with a set of spirits industry comparable peers. The discount rates used in</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22687 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">the 2025 impairment test for the three CGUs, are as follows: 7.0% for the EMEA CGU, 8.9% for the Americas</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps22688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">CGU and 6.6% for the Asia-Pacific CGU, or 7.8% for the Group overall (decreased by approximately 30 basis</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22690 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:213.29pt\">points compared with the 2024 impairment test).</span><span class=\"f charStyle-58d8bcbe ps22689\" style=\"width:2.77pt\"> </span></div><div class=\"ps22691 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">To take into account the current market volatility and uncertainty over future economic prospects, sensitivity</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17250 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">analyses were carried out to assess the recoverability of goodwill value. Based on the methodology described</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">above, the impairment test for goodwill as of 31 December 2025 confirmed the full recoverability, including</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">sensitivity, of all the CGUs with sufficient headroom to exclude goodwill impairment losses that may arise from</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps22694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:162.23pt\">meaningful business downside risks.</span></div><div class=\"ps22712 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:321.75pt\"></td><td style=\"padding:0;width:87pt\"></td><td style=\"padding:0;width:87pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ef;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22697 ss126\"><div><div class=\"ps2415 ss110\"><span class=\"f charStyle-40131897 ps22696\">at 31 December 2025</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22698 ss126\"><div><div class=\"ps2415 ss110\"><span class=\"f charStyle-183bdf94 ps22696\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">CGU<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22700 ss126\"><div><div class=\"ps485 ss110\"><span class=\"f charStyle-183bdf94 ps22699\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6467 ss126\"><div><div class=\"ps485 ss110\"><span class=\"f charStyle-183bdf94 ps22699\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22702 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22701\">1,299.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22703 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22701\">1,464.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">EMEA<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22705 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22704\">866.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22706 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22704\">885.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22708 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22707\">67.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22709 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22707\">70.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22710 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-ba8ac8da ps22701\">2,233.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22711 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-ba8ac8da ps22701\">2,420.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15282 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:125.18pt\">Changes in goodwill values </span><span class=\"f charStyle-58d8bcbe ps22713\" style=\"width:97.08pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22714\" style=\"width:71.5pt\"> compared with </span><span class=\"f charStyle-58d8bcbe ps22715\" style=\"width:85.66pt\">31 December 2024</span><span class=\"f charStyle-58d8bcbe ps22716\" style=\"width:116.79pt\"> , are primarily attributable<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22717 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">to exchange rate effects of \u20ac147.0 million, driven by the weakening of the US dollar against the Euro.</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.22pt\"> </span></div><div class=\"ps22718 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Additionally, there was a negative perimeter effect equal to \u20ac23.0 million in connection with the divestments of</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22719 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Cinzano and Frattina proportionally allocated to the three CGUs based on the brands\u2019 profitability, as well the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22720 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:184.39pt\">disposal of the Derrimut plant in Australia.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">In addition, a separate impairment test was conducted to measure the capability of each brand to sustain its</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1881 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">value using the value in use criteria. As the Group does not manage selling, general and administrative costs at</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">brand level, the brand\u2019s profitability is measured taking into consideration the allocated costs incurred on a</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">global scale and across geographies. For the brand valuation, the Group uses the Multi\u2010period Excess Earnings</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1885 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Method ('MEEM') valuation, a widely accepted valuation methodology in practice for determining the brands' fair</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1886 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">value. The \u2019value in use\u2019 methodology is considered valid, assuming that the identification of a representative</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps4460 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:411.97pt\">sample of comparable transactions is not easily available across the different types of assets.</span></div><div class=\"ps892 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">MEEM is an earnings\u2010based valuation method. The theoretical premise of the MEEM is that the value of a brand</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps4461 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">is equal to the current value of the residual cash flows attributable to the asset analysed. According to this</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps4471 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">method, the relevant earnings attributable to the intangible asset are calculated using the income that the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps4472 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">company would record after having deducted the earnings attributable to all the other assets (contributory asset</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps4475 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">charge), i.e. deducting from the company\u2019s results the remuneration for using other assets that contribute to the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1201 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">generation of such results. Estimates of income flows generated by individual brands, net of contributory asset</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps3963 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">charge, and of the terminal value, discounted to present value using an appropriate discount rate, were used to</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps3440 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:185pt\">calculate the recoverable value of brands.</span><span class=\"f charStyle-58d8bcbe ps22722\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Consistent with the impairment test on goodwill, a 10-year cash projection was developed for the brand</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps4482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">impairment test. In the case of The GlenGrant single malt Scotch whisky, a 15-year time horizon was adopted, in</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps4483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">line with previous years. The use of a fifteen-year time horizon is justified by the long-term effect of the brand</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">ageing strategy, a commonly implemented market practice for premium spirits players. The discount rates used</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps4489 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">for the individual brands tested varied from 7.9%% to 8.8% and took into account a specific risk premium for the</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1908 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">brand in question. To determine the terminal value of each brand, a perpetual growth rate between 2.3% and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps4491 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:337.15pt\">2.5%, in line with the inflation estimates for the 2026-2030 period, was used.</span><span class=\"f charStyle-58d8bcbe ps22723\" style=\"width:2.77pt\"> </span></div><div class=\"ps17269 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The impairment test as of 2025 has indicated impairment losses, for an aggregated amount of \u20ac67.4 million, for</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps17270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">the brands of Cabo Wabo, Forty Creek and Wilderness Trail Distillery. The losses reflect the persisting weak<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17271 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">performance of the brands, driven by challenging market, industry, and category dynamics, as well as Campari</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3141 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Group\u2019s strategic decision to focus on key priority brands. Such loss was mainly attributable to the Americas</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">CGU in line with the geographic distribution of brand profitability. Excluding the aforementioned brands, the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1952 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">sensitivity analyses indicated impairment risks for the brands of Grand Marnier, The GlenGrant, Bulldog, Picon,</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps8883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">and Courvoisier. Considering a theoretical increase of WACC by +100 bps and decrease of the growth rate (\u2018g\u2019)</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps17273 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">by -100 bps, the combined theoretical impairment risk for the above-mentioned brands, excluding the</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17274 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">impairment loss already registered for the year, would be \u20ac178.0 million. The Group will closely monitor the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps8842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:393.29pt\">future development of these brands and carefully assess the recoverability of their brand </span><span class=\"f charStyle-58d8bcbe ps22724\" style=\"width:28.9pt\">values</span><span class=\"f charStyle-58d8bcbe ps22725\" style=\"width:2.77pt\">.</span></div><div class=\"ps22759 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:327.75pt\"></td><td style=\"padding:0;width:84pt\"></td><td style=\"padding:0;width:84pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6554 ss1232\"><div><div class=\"ps485 ss1231\"><span class=\"f charStyle-183bdf94 ps3368\">at 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22726 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6550\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps18329 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6550\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22727 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6557\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18349 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6557\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Grand Marnier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22728 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">300.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22729 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">300.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Courvoisier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19601 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">189.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19603 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">189.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Wild Turkey<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19609 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">155.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19611 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">175.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Picon<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19618 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">123.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19620 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">123.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">The GlenGrant and Old Smuggler<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22730 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">88.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22731 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">88.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Jamaican Rum Portfolio<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22732 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">83.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22733 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">96.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Frangelico<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22734 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">54.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps13085 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">54.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Forty Creek<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22735 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">47.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22736 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">59.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Bulldog<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22737 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">26.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22738 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">27.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Cabo Wabo<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22739 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">17.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22740 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">46.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-40131897 ps132\">Averna</span><span class=\"f charStyle-85922b7e ps22741\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22742 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22743 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">53.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-40131897 ps132\">Braulio</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22744 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22745 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Riccadonna<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22747 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps22746\">11.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22748 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps22746\">11.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11650 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Del Professore<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22749 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22750 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness Trail<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22751 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">3.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22752 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">40.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11659 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-40131897 ps132\">X-Rated Fusion Liqueur</span><span class=\"f charStyle-85922b7e ps557\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22753 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22754 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11663 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22755 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">26.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22756 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11174 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22757 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">1,144.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22758 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">1,314.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22762 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:199.03pt\">The amount as at 31 December 2025 was reclassified as an ass</span><span class=\"f charStyle-40131897 ps22760\" style=\"width:84.34pt\">et held for sale during the y</span><span class=\"f charStyle-40131897 ps22761\" style=\"width:11.67pt\">ear.</span></div><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span>Asset with finite life. The brand value amortised over a timeframe of 10 years until 2025.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-482": {
   "value": "<div class=\"ps22384 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Acquisition and Sale of Businesses and Purchase of Non-Controlling Interests<span id=\"i8f33003f0e0242e4a7eb406f0ecf81d7\"></span></span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:156.11pt\">Goodwill in a business combination</span></div><div class=\"ps7260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">The goodwill acquired in a business combination is allocated to the individual cash-generating units or to the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">groups of cash-generating units likely to benefit from merger synergies, regardless of whether other assets or</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.15pt\">liabilities from the acquisition are assigned to these units or groups of units.</span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">In the event of a business disposal, the goodwill of the cash-generating unit connected to the disposal is</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">included in the carrying value of the net items sold by measuring its relative fair value, having as reference the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:437.7pt\">proceeds from the sale and the most recent fair value attributed to the related cash-generating unit.</span><span class=\"f charStyle-2293a859 ps22403\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:82.78pt\">Business disposal </span><span class=\"f charStyle-ca5f4806 ps22404\" style=\"width:48.9pt\">recognition</span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">The assets and liabilities of the disposal group are classified as held for sale and measured at their relative fair</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">values at the date of classification. Relative fair value is determined reflecting the price that would be received to</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">sell an asset or paid to transfer a liability in an orderly transaction between market participants. The relative fair</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">value method is used to allocate the consideration received proportionally to the fair values of the identifiable</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">assets and liabilities in the disposal group. Where goodwill has been allocated to a cash-generating unit ('CGU')</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">disposed in these circumstances is measured based on the relative values of the disposed operation and the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">portion of the cash-generating unit retained. Any difference between the carrying amount and the allocated fair</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:256.04pt\">value is recognised in profit or loss at the time of disposal.</span></div><div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps1483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:126.67pt\">Intangible assets recognition</span></div><div class=\"ps1534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Intangible assets with definite life are recorded at cost, net of accumulated amortisation and any impairment</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps4482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">losses. In the event they are acquired through business combinations, they are reported separately from</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps9922 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:483.3pt\">goodwill and brands, and measured at fair value, when this can reliably be measured, on the acquisition date.</span></div><div class=\"ps9923 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Intangible assets produced internally are not capitalised and are reported in the statement of profit or loss for the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9924 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">financial year in which they are incurred; there are no significant development costs to be considered. The costs</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">of innovation projects and studies are recorded in the income statement in full in the year in which they are</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps8834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:38.89pt\">incurred.<span class=\"f ps21\"> </span></span></div><div class=\"ps1834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Software represents the cost of purchasing assets and licences and, if incurred, external consultancy fees and</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">internal labour costs to prepare the technology so that it is capable of operating in the manner intended by</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps8836 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">management; there are normally no costs associated with development. These costs are recorded in the year in</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps2266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:399.93pt\">which the internal or external costs are incurred, to train personnel and other related costs.</span></div><div class=\"ps8837 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The following contracts are managed as a service contract with the related costs expensed as they are incurred:</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps2090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">cloud computing arrangements under which i) the Group contracts to pay a fee in exchange for a right to access</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">the supplier\u2019s application software for a specified term; ii) the cloud infrastructure is managed and controlled by</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.03pt\">the supplier, insofar as access to the software is on an \u2018as needed\u2019 basis over the internet or via a dedicated line</span><span class=\"f charStyle-2293a859 ps7894\" style=\"width:2.77pt\"> </span></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">and iii) the contract does not convey any rights over tangible assets to the Group. Any prepayment giving a right</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">to a future service is recognised as a prepaid asset. Detailed analysis is undertaken to determine whether the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:386.64pt\">implementation costs for software hosted under cloud arrangements can be capitalised.</span><span class=\"f charStyle-2293a859 ps22566\" style=\"width:2.77pt\"> </span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Intangible assets amortisation and impairment</span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">Intangible assets with a finite life are amortised on a straight-line basis in relation to their useful life and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">reviewed for impairment whenever events or circumstances indicate that the carrying amount may not be</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">recoverable. The amortisation period of intangible assets with a finite life is reviewed at least at the end of every</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">financial year in order to ascertain any changes in their useful life, which, if identified, will be treated as changes</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.09pt\">in estimates.</span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Other intangible assets with indefinite and definite life contain distribution rights and key money, the latter tested</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.24pt\">for impairment leveraging on a specialised third-party expert opinion connected to real estate assets.</span><span class=\"f charStyle-2293a859 ps22567\" style=\"width:3.45pt\"> </span><span class=\"f charStyle-2293a859 ps22568\" style=\"width:39.43pt\">Software</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:109.97pt\">amortisation rate is 20%.</span><span class=\"f charStyle-2293a859 ps22569\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps22570\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:224.93pt\">Intangible assets with indefinite life impairment test</span></div><div class=\"ps1227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Goodwill, brands and other intangible assets with an indefinite life are not amortised and are reviewed for</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impairment tests every year or more frequently if there is any indication that the asset may be impaired. The</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">annual approval of the impairment test results is performed by the Board of Directors of Davide Campari-Milano</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:480.15pt\">N.V., which takes place before the approval of the annual financial reports (consolidated and Company only).</span><span class=\"f charStyle-2293a859 ps22571\" style=\"width:2.77pt\"> </span></div><div class=\"ps1559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The ability to recover assets is ascertained by comparing the carrying amount to the related recoverable value,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:413.26pt\">which is represented by the higher of the fair value less cost of disposal, and the value in use.</span></div><div class=\"ps1561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">In the absence of a binding sale agreement, the fair value is estimated on the basis of recent transaction values</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">in an active market, or based on the best information available to determine the amount that could be obtained</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">from selling the asset. The value in use is determined by discounting expected cash flows resulting from the use</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">of the asset, and, if significant and reasonably determinable, the cash flows resulting from its sale at the end of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">its useful life. Cash flows are determined on the basis of reasonable, documented assumptions representing the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">best estimate of the future economic conditions that will occur during the remaining useful life of the asset, with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps9942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">greater weight given to external information. Growth rate assumptions are applied to the years beyond the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:479.75pt\">business plan horizon. The discount rate applied takes into account the implicit risk of the business segment.</span></div><div class=\"ps9944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">When it is not possible to determine the recoverable value of an individual asset, the Group estimates the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:323.32pt\">recoverable value of the cash-generating unit to which the asset belongs.</span></div><div class=\"ps9946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Impairment loss is recorded if the recoverable value of an asset is lower than its carrying amount by posting the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">related cost in the statement of profit or loss and is charged to other operating expenses. Goodwill impairments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:133.32pt\">can no longer be written back.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-490": {
   "value": "<div class=\"ps4310 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:57.71pt\">Accounting </span><span class=\"f charStyle-b96b9181 ps13753\" style=\"width:28.86pt\">policy</span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:156.11pt\">Goodwill in a business combination</span></div><div class=\"ps7260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">The goodwill acquired in a business combination is allocated to the individual cash-generating units or to the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">groups of cash-generating units likely to benefit from merger synergies, regardless of whether other assets or</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.15pt\">liabilities from the acquisition are assigned to these units or groups of units.</span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">In the event of a business disposal, the goodwill of the cash-generating unit connected to the disposal is</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">included in the carrying value of the net items sold by measuring its relative fair value, having as reference the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:437.7pt\">proceeds from the sale and the most recent fair value attributed to the related cash-generating unit.</span><span class=\"f charStyle-2293a859 ps22403\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:82.78pt\">Business disposal </span><span class=\"f charStyle-ca5f4806 ps22404\" style=\"width:48.9pt\">recognition</span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">The assets and liabilities of the disposal group are classified as held for sale and measured at their relative fair</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">values at the date of classification. Relative fair value is determined reflecting the price that would be received to</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">sell an asset or paid to transfer a liability in an orderly transaction between market participants. The relative fair</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">value method is used to allocate the consideration received proportionally to the fair values of the identifiable</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">assets and liabilities in the disposal group. Where goodwill has been allocated to a cash-generating unit ('CGU')</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">disposed in these circumstances is measured based on the relative values of the disposed operation and the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">portion of the cash-generating unit retained. Any difference between the carrying amount and the allocated fair</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:256.04pt\">value is recognised in profit or loss at the time of disposal.</span></div><div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps1483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:126.67pt\">Intangible assets recognition</span></div><div class=\"ps1534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Intangible assets with definite life are recorded at cost, net of accumulated amortisation and any impairment</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps4482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">losses. In the event they are acquired through business combinations, they are reported separately from</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps9922 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:483.3pt\">goodwill and brands, and measured at fair value, when this can reliably be measured, on the acquisition date.</span></div><div class=\"ps9923 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Intangible assets produced internally are not capitalised and are reported in the statement of profit or loss for the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9924 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">financial year in which they are incurred; there are no significant development costs to be considered. The costs</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">of innovation projects and studies are recorded in the income statement in full in the year in which they are</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps8834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:38.89pt\">incurred.<span class=\"f ps21\"> </span></span></div><div class=\"ps1834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Software represents the cost of purchasing assets and licences and, if incurred, external consultancy fees and</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">internal labour costs to prepare the technology so that it is capable of operating in the manner intended by</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps8836 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">management; there are normally no costs associated with development. These costs are recorded in the year in</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps2266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:399.93pt\">which the internal or external costs are incurred, to train personnel and other related costs.</span></div><div class=\"ps8837 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The following contracts are managed as a service contract with the related costs expensed as they are incurred:</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps2090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">cloud computing arrangements under which i) the Group contracts to pay a fee in exchange for a right to access</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">the supplier\u2019s application software for a specified term; ii) the cloud infrastructure is managed and controlled by</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.03pt\">the supplier, insofar as access to the software is on an \u2018as needed\u2019 basis over the internet or via a dedicated line</span><span class=\"f charStyle-2293a859 ps7894\" style=\"width:2.77pt\"> </span></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">and iii) the contract does not convey any rights over tangible assets to the Group. Any prepayment giving a right</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">to a future service is recognised as a prepaid asset. Detailed analysis is undertaken to determine whether the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:386.64pt\">implementation costs for software hosted under cloud arrangements can be capitalised.</span><span class=\"f charStyle-2293a859 ps22566\" style=\"width:2.77pt\"> </span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Intangible assets amortisation and impairment</span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">Intangible assets with a finite life are amortised on a straight-line basis in relation to their useful life and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">reviewed for impairment whenever events or circumstances indicate that the carrying amount may not be</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">recoverable. The amortisation period of intangible assets with a finite life is reviewed at least at the end of every</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">financial year in order to ascertain any changes in their useful life, which, if identified, will be treated as changes</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.09pt\">in estimates.</span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Other intangible assets with indefinite and definite life contain distribution rights and key money, the latter tested</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.24pt\">for impairment leveraging on a specialised third-party expert opinion connected to real estate assets.</span><span class=\"f charStyle-2293a859 ps22567\" style=\"width:3.45pt\"> </span><span class=\"f charStyle-2293a859 ps22568\" style=\"width:39.43pt\">Software</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:109.97pt\">amortisation rate is 20%.</span><span class=\"f charStyle-2293a859 ps22569\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps22570\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:224.93pt\">Intangible assets with indefinite life impairment test</span></div><div class=\"ps1227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Goodwill, brands and other intangible assets with an indefinite life are not amortised and are reviewed for</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impairment tests every year or more frequently if there is any indication that the asset may be impaired. The</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">annual approval of the impairment test results is performed by the Board of Directors of Davide Campari-Milano</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:480.15pt\">N.V., which takes place before the approval of the annual financial reports (consolidated and Company only).</span><span class=\"f charStyle-2293a859 ps22571\" style=\"width:2.77pt\"> </span></div><div class=\"ps1559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The ability to recover assets is ascertained by comparing the carrying amount to the related recoverable value,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:413.26pt\">which is represented by the higher of the fair value less cost of disposal, and the value in use.</span></div><div class=\"ps1561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">In the absence of a binding sale agreement, the fair value is estimated on the basis of recent transaction values</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">in an active market, or based on the best information available to determine the amount that could be obtained</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">from selling the asset. The value in use is determined by discounting expected cash flows resulting from the use</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">of the asset, and, if significant and reasonably determinable, the cash flows resulting from its sale at the end of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">its useful life. Cash flows are determined on the basis of reasonable, documented assumptions representing the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">best estimate of the future economic conditions that will occur during the remaining useful life of the asset, with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps9942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">greater weight given to external information. Growth rate assumptions are applied to the years beyond the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:479.75pt\">business plan horizon. The discount rate applied takes into account the implicit risk of the business segment.</span></div><div class=\"ps9944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">When it is not possible to determine the recoverable value of an individual asset, the Group estimates the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:323.32pt\">recoverable value of the cash-generating unit to which the asset belongs.</span></div><div class=\"ps9946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Impairment loss is recorded if the recoverable value of an asset is lower than its carrying amount by posting the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">related cost in the statement of profit or loss and is charged to other operating expenses. Goodwill impairments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:133.32pt\">can no longer be written back.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps22574 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:101.39pt\">Goodwill and Brands<span id=\"ie5c19969652249c1b0018fd4937c14cb\"></span></span><span class=\"f charStyle-562c451e ps22573\" style=\"width:3.05pt\"> </span></div><div class=\"ps22629 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:203.25pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22577 ss377\"><div><div class=\"ps979 ss37\"><span class=\"f charStyle-183bdf94 ps22576\">goodwill<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22579 ss377\"><div><div class=\"ps2776 ss37\"><span class=\"f charStyle-183bdf94 ps16215\">brands with an <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss37\"><span class=\"f charStyle-183bdf94 ps22578\">indefinite life</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10810 ss377\"><div><div class=\"ps2776 ss37\"><span class=\"f charStyle-183bdf94 ps22580\">brands with a finite <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss37\"><span class=\"f charStyle-183bdf94 ps22581\">life</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss377\"><div><div class=\"ps979 ss37\"><span class=\"f charStyle-183bdf94 ps22582\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22583 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22584 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22585 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22160 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22586 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">2,422.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22587 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">1,415.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22588 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">31.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22164 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">3,870.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Cumulative impairment at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22590 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22591 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(103.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22592 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(29.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22169 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(135.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22593 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">2,420.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22594 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">1,312.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22596 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22172 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">3,735.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Disposals<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22597 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(23.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22598 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(6.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22600 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22601 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(29.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Amortisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22602 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22603 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22604 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22605 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Impairment loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22606 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22607 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(67.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22608 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8789 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(67.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22609 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(145.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22610 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(46.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22611 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22612 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(192.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5271 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Reclassification as assets held for sale<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22613 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(18.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22614 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(47.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22615 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22616 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(66.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22617 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">2,233.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22618 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">1,144.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22619 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22620 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">3,377.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22621 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">2,236.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22622 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">1,315.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22623 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">31.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.25pt dotted #c0c0c0;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22624 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">3,582.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4652 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Cumulative impairment at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22625 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22626 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(170.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22627 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(31.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22628 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(204.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22631 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:203.25pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22577 ss377\"><div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22576\">goodwill<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22579 ss377\"><div><div class=\"ps1094 ss37\"><span class=\"f charStyle-183bdf94 ps16215\">brands with an <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22578\">indefinite life</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10810 ss377\"><div><div class=\"ps1094 ss37\"><span class=\"f charStyle-183bdf94 ps22580\">brands with a finite <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22581\">life</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss377\"><div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22582\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22583 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22584 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22585 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22160 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22586 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">1,853.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22587 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">1,204.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22588 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">31.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22164 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">3,089.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps490 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Cumulative impairment at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22590 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22591 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(52.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22592 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(27.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22169 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(82.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps498 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22593 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">1,850.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22594 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">1,151.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22596 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">4.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22172 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">3,006.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps505 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Perimeter effect from business combination<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22597 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">507.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22598 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">189.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22600 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22601 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">696.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Additions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22602 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22603 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">1.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22604 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22605 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">1.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Impairment loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22606 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22607 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(50.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22608 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8789 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(50.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Amortisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22609 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22610 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22611 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22612 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22613 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">61.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22614 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">20.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22615 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22616 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">82.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22617 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">2,420.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22618 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">1,312.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22619 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22620 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">3,735.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22621 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">2,422.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22622 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">1,415.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22623 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">31.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.25pt dotted #c0c0c0;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22624 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">3,870.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4652 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Cumulative impairment at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22625 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22626 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(103.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22627 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(29.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22628 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(135.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22633 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">The changes during the period primarily concerned the negative exchange rate differences on goodwill and</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps22636 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:271.57pt\">brands denominated in local currencies, for a total of \u20ac</span><span class=\"f charStyle-58d8bcbe ps22634\" style=\"width:25.01pt\">192.3</span><span class=\"f charStyle-58d8bcbe ps22635\" style=\"width:199.65pt\"> million, which was mainly related to the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22639 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:267.21pt\">depreciation of the US$. Additionally, a total decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps22637\" style=\"width:19.45pt\">29.2</span><span class=\"f charStyle-58d8bcbe ps22638\" style=\"width:209.46pt\"> million, relating to the disposal of the bottling</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22640 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">manufacturing facility in Australia and the Cinzano and Frattina business. The allocation of goodwill and brands</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22641 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">to the disposal group for the Averna and Zedda Piras businesses was recognised in 2025 for a total amount of</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps22643 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:58.88pt\">\u20ac66.2 million.</span><span class=\"f charStyle-58d8bcbe ps22642\" style=\"width:2.77pt\"> </span></div><div class=\"ps22644 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Intangible assets with an indefinite life are represented by goodwill and brands, both associated with business</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17205 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">acquisitions. The Group expects to obtain positive cash flow from these assets for an indefinite period of time.</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22645 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Given the current environment marked by ongoing volatility and exposure to downside risks, including potentially</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22646 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">weak business sentiment and muted growth expectations also connected with the evolving United States import</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22647 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">tariffs introduced under the Trump Administration, the Group performed an impairment trigger assessment on</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps22649 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:342.42pt\">goodwill and brands. This assessment confirmed that an impairment loss of \u20ac</span><span class=\"f charStyle-58d8bcbe ps22648\" style=\"width:19.45pt\">67.4</span><span class=\"f charStyle-58d8bcbe ps15454\" style=\"width:134.33pt\"> million was recognised on the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22650 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">brands of Cabo Wabo, Forty Creek and Wilderness Trail Distillery (refer to paragraph 'Impairment test' for further</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22652 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:424.92pt\">details), while these events did not result in any material change in the recoverability of goodwill.</span><span class=\"f charStyle-58d8bcbe ps22651\" style=\"width:2.77pt\"> </span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:113.61pt\">Other Intangible Assets<span id=\"id4092aac99824ad7b8aeb794c898a248\"></span></span></div><div class=\"ps21052 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:203.25pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22577 ss377\"><div><div class=\"ps979 ss37\"><span class=\"f charStyle-183bdf94 ps20986\">software<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22579 ss377\"><div><div class=\"ps979 ss37\"><span class=\"f charStyle-183bdf94 ps22668\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10810 ss377\"><div><div class=\"ps2776 ss37\"><span class=\"f charStyle-183bdf94 ps22669\">other with indefinite <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss37\"><span class=\"f charStyle-183bdf94 ps22581\">life<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss377\"><div><div class=\"ps979 ss37\"><span class=\"f charStyle-183bdf94 ps22582\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22583 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22584 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22585 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22160 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22586 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">201.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22587 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">20.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22588 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22164 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">225.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated amortisation at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22590 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(136.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22591 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(15.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22592 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22169 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(151.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22593 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">65.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22594 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">4.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22596 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22172 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">73.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Additions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22597 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">37.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22598 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22600 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22601 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">37.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Amortisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22602 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(19.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22603 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22604 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22605 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(20.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Impairment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22606 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22607 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(1.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22608 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8789 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22609 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22610 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22611 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22612 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22613 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">83.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22614 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22615 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22616 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">87.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22617 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">199.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22618 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">6.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22619 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22620 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">209.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated amortisation at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22621 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22670\">(116.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22622 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(5.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22623 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22624 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(122.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22672 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:203.25pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22577 ss377\"><div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps20986\">software<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22579 ss377\"><div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22668\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10810 ss377\"><div><div class=\"ps1094 ss37\"><span class=\"f charStyle-183bdf94 ps22669\">other with indefinite <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22581\">life<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss377\"><div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22582\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22583 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22584 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22585 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22160 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22586 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">170.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22587 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">18.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22588 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22164 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">191.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated amortisation at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22590 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(121.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22591 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(14.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22592 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22169 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(135.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22593 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">49.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22594 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22596 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22172 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">56.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Additions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22597 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">33.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22598 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22600 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22601 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">35.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Amortisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22602 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(16.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22603 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(0.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22604 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22605 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(17.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Impairment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22606 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22607 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22608 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8789 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22609 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22610 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22611 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22612 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22613 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">65.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22614 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">4.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22615 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22616 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">73.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22617 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">201.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22618 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">20.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22619 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22620 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">225.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated amortisation at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22621 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(136.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22622 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(15.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22623 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22624 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(151.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:489.91pt\">Intangible assets with a finite life are amortised on a straight-line basis depending on their remaining useful life.</span><span class=\"f charStyle-58d8bcbe ps22673\" style=\"width:2.77pt\"> </span></div><div class=\"ps9930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">In 2024, Campari Group initiated a major investment programme designed to underpin the Group\u2019s strategic</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">agenda through an integrated transformation of its digital capabilities. The programme strengthens data</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">connectivity and structural processes to generate actionable insights and deliver superior business outcomes.</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">By advancing these capabilities, the project is expected to unlock new avenues of growth, profitability and</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">productivity. Key benefits include enhanced forecast precision, more informed decision\u2011making and an improved</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">end\u2011user experience. The initiative also future\u2011proofs the Group by aligning it with industry developments,</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">enabling next\u2011generation integrated planning, supported by connected planning systems, external data and</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">other digital tools for which internal usage guidelines have already been implemented. The additions in the year</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:427.55pt\">supporting the Information technology environment, including ordinary investments, totalled \u20ac</span><span class=\"f charStyle-58d8bcbe ps22674\" style=\"width:19.45pt\">37.8</span><span class=\"f charStyle-58d8bcbe ps22675\" style=\"width:49.19pt\"> million (of</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:383.84pt\">which \u20ac15.2 million related to cybersecurity and an integrated transformation program).</span><span class=\"f charStyle-58d8bcbe ps22676\" style=\"width:2.77pt\"> </span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:392.74pt\">During the period, no triggering events leading to an eventual impairment were identified.</span></div><div class=\"ps22678 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:54.96pt\">Impairment<span id=\"i43f18b7eddc347e4aac05e7f23d934b8\"></span></span><span class=\"f charStyle-562c451e ps6931\" style=\"width:20.76pt\"> test</span><span class=\"f charStyle-562c451e ps22677\" style=\"width:3.05pt\"> </span></div><div class=\"ps48 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">In line with prior years, the approval of the Group\u2019s annual assessment of the recoverability of intangible assets</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps49 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">with an indefinite useful life was completed prior to the 2025 year\u2011end. Accordingly, the carrying amount of such</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps50 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">intangible assets, i.e., the amount at which the assets are recognised in the Group\u2019s Consolidated Statement of</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps51 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Financial Position, was determined as at 30 September 2025, representing the most recent actual data available</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps2248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">at the time of the assessment. The outcomes of the impairment tests remained valid as at 31 December 2025,</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps2250 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">as no events or indicators of impairment arose during the fourth quarter of 2025 that would suggest a material</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps2252 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:359.4pt\">reduction in either the carrying amounts or the recoverable amounts of the assets</span><span class=\"f charStyle-58d8bcbe ps22679\" style=\"width:2.77pt\">.</span></div><div class=\"ps2253 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Consistent with previous years, the Group considered the business plan, including the 2026 budget and</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps2254 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">2027-2028 strategic plans (drafted by the Group\u2019s companies in 2025 and approved by the Board of Directors of</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps2255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Davide Campari-Milano N.V.), as the basis of the annual impairment test. Moreover, cash flow projections are</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">extrapolated beyond the plan period covered to be adapted for a ten-year period, with growth rates gradually</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps2260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">normalising towards the level of the perpetuity growth rate. The use of a ten-year period is justified by the long</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps2261 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">lifecycle of the brands with respect to the reference markets, and it also takes into account the long ageing</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps2262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">process of certain brands. Assumptions of future cash flows were made based on the conservative approach, in</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">terms of both expected growth rates and operating margin trends. In addition, projections were based on</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">reasonableness, prudence and consistency regarding the allocation of future selling, general and administrative</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22680 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">expenses, trends in capital investment, conditions of financial equilibrium and the main macroeconomic</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">variables. Cash flow projections relate to current operating conditions and therefore do not include cash flows</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:312.19pt\">connected with extraordinary events that are not currently foreseeable.</span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Regarding climate-related matters, the business plan considered the necessary investments to pursue the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Group\u2019s global sustainability strategy, including the path to decarbonisation based on challenging and ambitious</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">medium- and long-term environmental targets committed. Such investments were taken into account also in</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:174.95pt\">long horizon (i.e., in the terminal value).</span><span class=\"f charStyle-58d8bcbe ps22681\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">Regarding currencies, it should be noted that the projections were determined based on the exchange rates to</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">\u20ac, assumed unchanged to the ones used for drafting the 2026 budget. Although applicable IFRS principles</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">require that exchange rates are assumed flat to the current fiscal year over the time horizon, the fluctuations of</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:417.74pt\">2026 budgeted currencies are estimated not to have a meaningful impact on future cash flows.</span></div><div class=\"ps15682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">Goodwill values were tested at the aggregate level based on the values allocated to the three cash\u2010generating</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps15683 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">units ('CGUs'), i.e., EMEA CGU, Americas CGU, and Asia-Pacific CGU, in line with the Group\u2019s geographical</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15684 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">segment reporting. This structure reflects the lowest level at which goodwill is monitored by the Group and is</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15685 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">considered appropriate, given the synergies and efficiencies obtained at regional level based on its current</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps15686 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:106.66pt\">organisational structure.</span></div><div class=\"ps15687 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The allocation of goodwill for each CGU is based on the previous allocation values, adjusted to consider the</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps15688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">exchange rate effects and other variations such as perimeter change. The carrying amounts of the CGUs were</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15689 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">determined by combining the goodwill, the brand values allocated based on the profitability achieved by the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps15690 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">brand in each CGU, as well as the fixed assets and working capital, which were mainly allocated based on the</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps15691 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">relevant sales achieved in each CGU. The recoverable amounts of the CGUs were determined based on the</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">\u2018value in use\u2019 methodology. The asset value is measured by discounting the estimated future cash flows</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps15693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">generated by the continued use of such asset. Expected cash flows, which were based on the Group\u2019s cash</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps15694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">flow estimates, were discounted using a post\u2010tax discount rate, reflecting both the time value of money and a</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps2088 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">further adjustment to include the market risk and the specific risks for the business of the relevant CGU. In the</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps15695 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">impairment test performed, it has been verified that the use of a post-tax approach provides consistent results</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps15696 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:350.57pt\">with the ones which would have been obtained by adopting a pre-tax approach.</span></div><div class=\"ps15697 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">The main assumptions used in calculating the value in use of the CGUs are the long-term growth rates and</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps15698 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">discount rates. Terminal value was determined using the perpetuity growth method of discounting. Specifically, a</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15699 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">conservative perpetual growth rate was used that corresponds to the estimated inflation rates of the consumer</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps15700 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">price for the period 2026\u20102030 for the Group\u2019s key markets (source: IMF, October 2025 release), assumed to be</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15701 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">2.2% for the EMEA CGU, 2.9% for the Americas CGU and 2.4% for the Asia-Pacific CGU or 2.5% for the Group</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps15702 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">overall. The value in use of the CGUs was calculated by discounting the estimated value of future cash flows,</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps15703 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">including the terminal value, which it is assumed will derive from the continuing use of the assets, at a discount</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17522 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">rate (net of taxes and adjusted for risk) that reflects the average weighted cost of capital. Specifically, the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22683 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">discount rate used was the Weighted Average Cost of Capital (\u2018WACC\u2019), which depends on the risk associated</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22684 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">with the estimated cash flows. The WACC was determined based on observable indicators and market</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps22685 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">parameters, the current value of money and the specific risks connected with the business of the relevant CGU.</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.59pt\"> </span></div><div class=\"ps22686 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">The calculation of WACC was in line with a set of spirits industry comparable peers. The discount rates used in</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22687 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">the 2025 impairment test for the three CGUs, are as follows: 7.0% for the EMEA CGU, 8.9% for the Americas</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps22688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">CGU and 6.6% for the Asia-Pacific CGU, or 7.8% for the Group overall (decreased by approximately 30 basis</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22690 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:213.29pt\">points compared with the 2024 impairment test).</span><span class=\"f charStyle-58d8bcbe ps22689\" style=\"width:2.77pt\"> </span></div><div class=\"ps22691 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">To take into account the current market volatility and uncertainty over future economic prospects, sensitivity</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17250 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">analyses were carried out to assess the recoverability of goodwill value. Based on the methodology described</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">above, the impairment test for goodwill as of 31 December 2025 confirmed the full recoverability, including</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">sensitivity, of all the CGUs with sufficient headroom to exclude goodwill impairment losses that may arise from</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps22694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:162.23pt\">meaningful business downside risks.</span></div><div class=\"ps22712 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:321.75pt\"></td><td style=\"padding:0;width:87pt\"></td><td style=\"padding:0;width:87pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ef;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22697 ss126\"><div><div class=\"ps2415 ss110\"><span class=\"f charStyle-40131897 ps22696\">at 31 December 2025</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22698 ss126\"><div><div class=\"ps2415 ss110\"><span class=\"f charStyle-183bdf94 ps22696\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">CGU<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22700 ss126\"><div><div class=\"ps485 ss110\"><span class=\"f charStyle-183bdf94 ps22699\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6467 ss126\"><div><div class=\"ps485 ss110\"><span class=\"f charStyle-183bdf94 ps22699\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22702 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22701\">1,299.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22703 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22701\">1,464.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">EMEA<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22705 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22704\">866.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22706 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22704\">885.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22708 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22707\">67.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22709 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22707\">70.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22710 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-ba8ac8da ps22701\">2,233.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22711 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-ba8ac8da ps22701\">2,420.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15282 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:125.18pt\">Changes in goodwill values </span><span class=\"f charStyle-58d8bcbe ps22713\" style=\"width:97.08pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22714\" style=\"width:71.5pt\"> compared with </span><span class=\"f charStyle-58d8bcbe ps22715\" style=\"width:85.66pt\">31 December 2024</span><span class=\"f charStyle-58d8bcbe ps22716\" style=\"width:116.79pt\"> , are primarily attributable<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22717 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">to exchange rate effects of \u20ac147.0 million, driven by the weakening of the US dollar against the Euro.</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.22pt\"> </span></div><div class=\"ps22718 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Additionally, there was a negative perimeter effect equal to \u20ac23.0 million in connection with the divestments of</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22719 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Cinzano and Frattina proportionally allocated to the three CGUs based on the brands\u2019 profitability, as well the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22720 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:184.39pt\">disposal of the Derrimut plant in Australia.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">In addition, a separate impairment test was conducted to measure the capability of each brand to sustain its</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1881 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">value using the value in use criteria. As the Group does not manage selling, general and administrative costs at</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">brand level, the brand\u2019s profitability is measured taking into consideration the allocated costs incurred on a</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">global scale and across geographies. For the brand valuation, the Group uses the Multi\u2010period Excess Earnings</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1885 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Method ('MEEM') valuation, a widely accepted valuation methodology in practice for determining the brands' fair</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1886 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">value. The \u2019value in use\u2019 methodology is considered valid, assuming that the identification of a representative</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps4460 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:411.97pt\">sample of comparable transactions is not easily available across the different types of assets.</span></div><div class=\"ps892 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">MEEM is an earnings\u2010based valuation method. The theoretical premise of the MEEM is that the value of a brand</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps4461 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">is equal to the current value of the residual cash flows attributable to the asset analysed. According to this</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps4471 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">method, the relevant earnings attributable to the intangible asset are calculated using the income that the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps4472 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">company would record after having deducted the earnings attributable to all the other assets (contributory asset</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps4475 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">charge), i.e. deducting from the company\u2019s results the remuneration for using other assets that contribute to the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1201 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">generation of such results. Estimates of income flows generated by individual brands, net of contributory asset</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps3963 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">charge, and of the terminal value, discounted to present value using an appropriate discount rate, were used to</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps3440 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:185pt\">calculate the recoverable value of brands.</span><span class=\"f charStyle-58d8bcbe ps22722\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Consistent with the impairment test on goodwill, a 10-year cash projection was developed for the brand</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps4482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">impairment test. In the case of The GlenGrant single malt Scotch whisky, a 15-year time horizon was adopted, in</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps4483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">line with previous years. The use of a fifteen-year time horizon is justified by the long-term effect of the brand</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">ageing strategy, a commonly implemented market practice for premium spirits players. The discount rates used</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps4489 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">for the individual brands tested varied from 7.9%% to 8.8% and took into account a specific risk premium for the</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1908 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">brand in question. To determine the terminal value of each brand, a perpetual growth rate between 2.3% and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps4491 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:337.15pt\">2.5%, in line with the inflation estimates for the 2026-2030 period, was used.</span><span class=\"f charStyle-58d8bcbe ps22723\" style=\"width:2.77pt\"> </span></div><div class=\"ps17269 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The impairment test as of 2025 has indicated impairment losses, for an aggregated amount of \u20ac67.4 million, for</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps17270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">the brands of Cabo Wabo, Forty Creek and Wilderness Trail Distillery. The losses reflect the persisting weak<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17271 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">performance of the brands, driven by challenging market, industry, and category dynamics, as well as Campari</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3141 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Group\u2019s strategic decision to focus on key priority brands. Such loss was mainly attributable to the Americas</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">CGU in line with the geographic distribution of brand profitability. Excluding the aforementioned brands, the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1952 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">sensitivity analyses indicated impairment risks for the brands of Grand Marnier, The GlenGrant, Bulldog, Picon,</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps8883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">and Courvoisier. Considering a theoretical increase of WACC by +100 bps and decrease of the growth rate (\u2018g\u2019)</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps17273 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">by -100 bps, the combined theoretical impairment risk for the above-mentioned brands, excluding the</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17274 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">impairment loss already registered for the year, would be \u20ac178.0 million. The Group will closely monitor the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps8842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:393.29pt\">future development of these brands and carefully assess the recoverability of their brand </span><span class=\"f charStyle-58d8bcbe ps22724\" style=\"width:28.9pt\">values</span><span class=\"f charStyle-58d8bcbe ps22725\" style=\"width:2.77pt\">.</span></div><div class=\"ps22759 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:327.75pt\"></td><td style=\"padding:0;width:84pt\"></td><td style=\"padding:0;width:84pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6554 ss1232\"><div><div class=\"ps485 ss1231\"><span class=\"f charStyle-183bdf94 ps3368\">at 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22726 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6550\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps18329 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6550\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22727 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6557\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18349 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6557\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Grand Marnier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22728 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">300.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22729 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">300.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Courvoisier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19601 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">189.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19603 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">189.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Wild Turkey<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19609 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">155.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19611 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">175.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Picon<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19618 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">123.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19620 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">123.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">The GlenGrant and Old Smuggler<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22730 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">88.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22731 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">88.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Jamaican Rum Portfolio<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22732 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">83.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22733 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">96.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Frangelico<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22734 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">54.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps13085 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">54.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Forty Creek<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22735 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">47.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22736 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">59.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Bulldog<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22737 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">26.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22738 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">27.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Cabo Wabo<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22739 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">17.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22740 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">46.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-40131897 ps132\">Averna</span><span class=\"f charStyle-85922b7e ps22741\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22742 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22743 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">53.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-40131897 ps132\">Braulio</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22744 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22745 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Riccadonna<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22747 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps22746\">11.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22748 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps22746\">11.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11650 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Del Professore<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22749 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22750 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness Trail<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22751 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">3.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22752 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">40.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11659 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-40131897 ps132\">X-Rated Fusion Liqueur</span><span class=\"f charStyle-85922b7e ps557\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22753 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22754 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11663 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22755 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">26.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22756 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11174 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22757 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">1,144.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22758 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">1,314.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22762 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:199.03pt\">The amount as at 31 December 2025 was reclassified as an ass</span><span class=\"f charStyle-40131897 ps22760\" style=\"width:84.34pt\">et held for sale during the y</span><span class=\"f charStyle-40131897 ps22761\" style=\"width:11.67pt\">ear.</span></div><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span>Asset with finite life. The brand value amortised over a timeframe of 10 years until 2025.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-494": {
   "value": "<div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:82.78pt\">Business disposal </span><span class=\"f charStyle-ca5f4806 ps22404\" style=\"width:48.9pt\">recognition</span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">The assets and liabilities of the disposal group are classified as held for sale and measured at their relative fair</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">values at the date of classification. Relative fair value is determined reflecting the price that would be received to</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">sell an asset or paid to transfer a liability in an orderly transaction between market participants. The relative fair</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">value method is used to allocate the consideration received proportionally to the fair values of the identifiable</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">assets and liabilities in the disposal group. Where goodwill has been allocated to a cash-generating unit ('CGU')</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">disposed in these circumstances is measured based on the relative values of the disposed operation and the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">portion of the cash-generating unit retained. Any difference between the carrying amount and the allocated fair</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:256.04pt\">value is recognised in profit or loss at the time of disposal.</span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:216.51pt\">Disposal of Averna and Zedda Piras business</span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">On 18 December 2025, Campari Group reached an agreement to sell the Averna and Zedda Piras business to</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">Illva Saronno Holding S.p.A.. This transaction is valued at \u20ac100.0 million for 100% of the share capital of the</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">newly established company and the finished goods inventory. In 2025, net sales of Averna and Zedda Piras</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:338.76pt\">amounted to \u20ac26.1 million and accounted for 0.9% of Campari Group\u2019s </span><span class=\"f charStyle-58d8bcbe ps22407\" style=\"width:29.45pt\">overall</span><span class=\"f charStyle-58d8bcbe ps22408\" style=\"width:127.94pt\"> net sales. Reported CAAP</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">(contribution margin after advertising and promotional expenses) amounted to \u20ac16.4 million. The sale</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">encompasses all intellectual property, inventories, certain employees and production plants in Sicily and</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Sardinia, as well as goodwill, related assets and contractual relationships. Following closing, Campari Group</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">and Illva Saronno Holding S.p.A. will enter into transitional manufacturing and distribution agreements, allowing</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Campari Group to continue distributing Averna and Zedda Piras in select markets before transitioning to Illva</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Saronno\u2019s commercial footprint. The closing of the transaction is expected during the first half of 2026. In</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">accordance with applicable IFRS, at 31 December 2025 the assets and liabilities of the disposal group were</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">classified as held for sale in Campari Group\u2019s financial statements. No impairment is recognised, as the disposal</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:166.07pt\">is expected to result in a pre-tax gain.</span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">viii.\u00a0  Disposal Group Classified as Held for Sale<span id=\"ib721690ec66246c1be88ff5170dff41e\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Disposal groups are classified as held for sale when their recovery is expected to occur primarily through a sale</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">transaction rather than continued use. These items are measured at the lower of their carrying amount and fair</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:102.19pt\">value less costs to sell.</span></div><div class=\"ps1267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps1268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:130.51pt\">The identified disposal group</span><span class=\"f charStyle-58d8bcbe ps22878\" style=\"width:365.69pt\"> comprised the assets and liabilities associated with the Averna and Zedda Piras</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">business, following the signing of the disposal agreement on 18 December 2025 (for more details, refer to '4.i-</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.22pt\"> </span></div><div class=\"ps1272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Acquisition and Sale of Businesses and Purchase of Non-Controlling Interests'). The disposal group, reclassified</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1275 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">as current assets held for sale, included intellectual property, inventories, certain employees, and production</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">plants in Caltanissetta, Sicily, and in Alghero, Sardinia, as well as goodwill, related assets and contractual</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:425.41pt\">relationships. The net carrying amount of the disposal group at the reclassification date was \u20ac</span><span class=\"f charStyle-58d8bcbe ps22879\" style=\"width:19.45pt\">77.6</span><span class=\"f charStyle-58d8bcbe ps22880\" style=\"width:51.26pt\"> million. No</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">cumulative income or expenses related to the disposal group were recognised in the Consolidated Statement of</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1281 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">Other Comprehensive Income. The transaction is expected to generate a gain and is anticipated to be</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1282 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:169.96pt\">completed during the first half of 2026.</span></div><div class=\"ps22904 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:239.25pt\"></td><td style=\"padding:0;width:128.25pt\"></td><td style=\"padding:0;width:128.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps5702 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22881\">reclassification as assets held for sale<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22883 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22882\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps5706 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22884\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22885 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22884\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-183bdf94 ps132\">Goodwill<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22887 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22886\">18.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22888 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22886\">18.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-183bdf94 ps132\">Trademarks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22889 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22886\">47.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22890 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22886\">47.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-183bdf94 ps132\">Property plant and equipment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22892 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22891\">7.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22893 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22891\">7.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-183bdf94 ps132\">Inventories<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22894 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22891\">4.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22895 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22891\">4.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-ba8ac8da ps132\">Total assets classified as held for sale<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22896 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-ba8ac8da ps22886\">77.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22897 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-ba8ac8da ps22886\">77.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-183bdf94 ps132\">Other current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22898 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22891\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22899 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22891\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-ba8ac8da ps132\">Total liabilities classified as held for sale<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22900 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-ba8ac8da ps22891\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22901 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-ba8ac8da ps22891\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6293 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-ba8ac8da ps132\">Net assets classified as held for sale<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22902 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-ba8ac8da ps22886\">77.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22903 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-ba8ac8da ps22886\">77.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-493": {
   "value": "<div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:82.78pt\">Business disposal </span><span class=\"f charStyle-ca5f4806 ps22404\" style=\"width:48.9pt\">recognition</span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">The assets and liabilities of the disposal group are classified as held for sale and measured at their relative fair</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">values at the date of classification. Relative fair value is determined reflecting the price that would be received to</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">sell an asset or paid to transfer a liability in an orderly transaction between market participants. The relative fair</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">value method is used to allocate the consideration received proportionally to the fair values of the identifiable</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">assets and liabilities in the disposal group. Where goodwill has been allocated to a cash-generating unit ('CGU')</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">disposed in these circumstances is measured based on the relative values of the disposed operation and the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">portion of the cash-generating unit retained. Any difference between the carrying amount and the allocated fair</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:256.04pt\">value is recognised in profit or loss at the time of disposal.</span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Disposal groups are classified as held for sale when their recovery is expected to occur primarily through a sale</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">transaction rather than continued use. These items are measured at the lower of their carrying amount and fair</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:102.19pt\">value less costs to sell.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-492": {
   "value": "<div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:82.78pt\">Business disposal </span><span class=\"f charStyle-ca5f4806 ps22404\" style=\"width:48.9pt\">recognition</span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">The assets and liabilities of the disposal group are classified as held for sale and measured at their relative fair</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">values at the date of classification. Relative fair value is determined reflecting the price that would be received to</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">sell an asset or paid to transfer a liability in an orderly transaction between market participants. The relative fair</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">value method is used to allocate the consideration received proportionally to the fair values of the identifiable</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">assets and liabilities in the disposal group. Where goodwill has been allocated to a cash-generating unit ('CGU')</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">disposed in these circumstances is measured based on the relative values of the disposed operation and the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">portion of the cash-generating unit retained. Any difference between the carrying amount and the allocated fair</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:256.04pt\">value is recognised in profit or loss at the time of disposal.</span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:216.51pt\">Disposal of Averna and Zedda Piras business</span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">On 18 December 2025, Campari Group reached an agreement to sell the Averna and Zedda Piras business to</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">Illva Saronno Holding S.p.A.. This transaction is valued at \u20ac100.0 million for 100% of the share capital of the</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">newly established company and the finished goods inventory. In 2025, net sales of Averna and Zedda Piras</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:338.76pt\">amounted to \u20ac26.1 million and accounted for 0.9% of Campari Group\u2019s </span><span class=\"f charStyle-58d8bcbe ps22407\" style=\"width:29.45pt\">overall</span><span class=\"f charStyle-58d8bcbe ps22408\" style=\"width:127.94pt\"> net sales. Reported CAAP</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">(contribution margin after advertising and promotional expenses) amounted to \u20ac16.4 million. The sale</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">encompasses all intellectual property, inventories, certain employees and production plants in Sicily and</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Sardinia, as well as goodwill, related assets and contractual relationships. Following closing, Campari Group</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">and Illva Saronno Holding S.p.A. will enter into transitional manufacturing and distribution agreements, allowing</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Campari Group to continue distributing Averna and Zedda Piras in select markets before transitioning to Illva</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Saronno\u2019s commercial footprint. The closing of the transaction is expected during the first half of 2026. In</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">accordance with applicable IFRS, at 31 December 2025 the assets and liabilities of the disposal group were</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">classified as held for sale in Campari Group\u2019s financial statements. No impairment is recognised, as the disposal</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:166.07pt\">is expected to result in a pre-tax gain.</span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">viii.\u00a0  Disposal Group Classified as Held for Sale<span id=\"ib721690ec66246c1be88ff5170dff41e\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Disposal groups are classified as held for sale when their recovery is expected to occur primarily through a sale</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">transaction rather than continued use. These items are measured at the lower of their carrying amount and fair</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:102.19pt\">value less costs to sell.</span></div><div class=\"ps1267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps1268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:130.51pt\">The identified disposal group</span><span class=\"f charStyle-58d8bcbe ps22878\" style=\"width:365.69pt\"> comprised the assets and liabilities associated with the Averna and Zedda Piras</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">business, following the signing of the disposal agreement on 18 December 2025 (for more details, refer to '4.i-</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.22pt\"> </span></div><div class=\"ps1272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Acquisition and Sale of Businesses and Purchase of Non-Controlling Interests'). The disposal group, reclassified</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1275 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">as current assets held for sale, included intellectual property, inventories, certain employees, and production</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">plants in Caltanissetta, Sicily, and in Alghero, Sardinia, as well as goodwill, related assets and contractual</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:425.41pt\">relationships. The net carrying amount of the disposal group at the reclassification date was \u20ac</span><span class=\"f charStyle-58d8bcbe ps22879\" style=\"width:19.45pt\">77.6</span><span class=\"f charStyle-58d8bcbe ps22880\" style=\"width:51.26pt\"> million. No</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">cumulative income or expenses related to the disposal group were recognised in the Consolidated Statement of</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1281 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">Other Comprehensive Income. The transaction is expected to generate a gain and is anticipated to be</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1282 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:169.96pt\">completed during the first half of 2026.</span></div><div class=\"ps22904 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:239.25pt\"></td><td style=\"padding:0;width:128.25pt\"></td><td style=\"padding:0;width:128.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps5702 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22881\">reclassification as assets held for sale<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22883 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22882\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps5706 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22884\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22885 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22884\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-183bdf94 ps132\">Goodwill<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22887 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22886\">18.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22888 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22886\">18.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-183bdf94 ps132\">Trademarks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22889 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22886\">47.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22890 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22886\">47.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-183bdf94 ps132\">Property plant and equipment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22892 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22891\">7.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22893 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22891\">7.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-183bdf94 ps132\">Inventories<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22894 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22891\">4.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22895 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22891\">4.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-ba8ac8da ps132\">Total assets classified as held for sale<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22896 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-ba8ac8da ps22886\">77.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22897 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-ba8ac8da ps22886\">77.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-183bdf94 ps132\">Other current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22898 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22891\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22899 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-183bdf94 ps22891\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-ba8ac8da ps132\">Total liabilities classified as held for sale<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22900 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-ba8ac8da ps22891\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22901 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-ba8ac8da ps22891\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6293 ss1744\"><div><div class=\"ps476 ss330\"><span class=\"f charStyle-ba8ac8da ps132\">Net assets classified as held for sale<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22902 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-ba8ac8da ps22886\">77.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22903 ss1743\"><div><div class=\"ps476 ss1742\"><span class=\"f charStyle-ba8ac8da ps22886\">77.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-491": {
   "value": "<div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:82.78pt\">Business disposal </span><span class=\"f charStyle-ca5f4806 ps22404\" style=\"width:48.9pt\">recognition</span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">The assets and liabilities of the disposal group are classified as held for sale and measured at their relative fair</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">values at the date of classification. Relative fair value is determined reflecting the price that would be received to</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">sell an asset or paid to transfer a liability in an orderly transaction between market participants. The relative fair</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">value method is used to allocate the consideration received proportionally to the fair values of the identifiable</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">assets and liabilities in the disposal group. Where goodwill has been allocated to a cash-generating unit ('CGU')</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">disposed in these circumstances is measured based on the relative values of the disposed operation and the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">portion of the cash-generating unit retained. Any difference between the carrying amount and the allocated fair</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:256.04pt\">value is recognised in profit or loss at the time of disposal.</span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">viii.\u00a0  Disposal Group Classified as Held for Sale<span id=\"ib721690ec66246c1be88ff5170dff41e\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Disposal groups are classified as held for sale when their recovery is expected to occur primarily through a sale</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">transaction rather than continued use. These items are measured at the lower of their carrying amount and fair</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:102.19pt\">value less costs to sell.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-501": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Property, Plant and Equipment, Right of Use Assets and Biological Assets<span id=\"i7ab0f0c6725c4fc4a6e25c73fcb2cbc0\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Property, plant and equipment are stated at cost less accumulated depreciation, which is applied on a straight-</span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:311.07pt\">line basis to estimated residual values over their expected useful lives.</span><span class=\"f charStyle-2293a859 ps18246\" style=\"width:2.77pt\"> </span></div><div class=\"ps1263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:484.32pt\">For right of use assets, please refer to the note 6 vii-\u2018Lease components in the statement of financial position\u2019.</span></div><div class=\"ps1266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">For biological assets accounting treatment, please refer to note 8 iii-\u2018Fair value information on assets and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:42.76pt\">liabilities\u2019.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps22413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Land, even if acquired in conjunction with a building, is not depreciated, nor are held-for-sale tangible assets,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">which are reported at the lower of their carrying amount and fair value less cost to sell. Barrels are depreciated<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">based on the useful life, which can vary depending on the maturing work in progress for the liquid. For lease-</span></div><div class=\"ps1275 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">hold-improvements, the period of depreciation is the shorter of the economic life of the asset and the contract</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">duration of the underlying lease agreement. For right of use assets, unless the Group is reasonably certain that</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">it will obtain ownership of the leased asset at the end of the lease term, they are amortised on a straight-line</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:401.55pt\">basis over their estimated useful life or the term of the agreement, whichever is the shorter.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps22414\" style=\"width:11.08pt\">\u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div><div class=\"ps1281 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">The Group depreciation rate ranges by asset category are as follows:</span></div><div class=\"ps22424 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1729 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:266.25pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps47 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">business-related properties and light construction:\u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22417 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22416\">\u00a0 1.5%-10%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8762 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">plant and machinery:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22419 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22418\"> 2.5%-12.5%</span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">furniture, office and electronic equipment:\u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps15097 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22420\">\u00a0 10%-20%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1089 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">vehicles:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22421 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps484\"> 20%-25%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps15164 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">miscellaneous equipment:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22423 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22422\">\u00a0  2%-30%</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">Depreciation ceases on the date on which the asset is classified as held for sale or on which the asset is<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22427 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:273.88pt\">derecognised for accounting purposes, whichever occurs first.</span></div><div class=\"ps22429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Depreciation rates are revised through an ongoing assessment of the residual useful life of each asset category.</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.59pt\"> </span></div><div class=\"ps22430 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">This assessment is conducted in accordance with the technical and physical condition of the assets, the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22432 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:467.74pt\">technological environment, external factors, and generally accepted market and industry valuation criteria.</span><span class=\"f charStyle-2293a859 ps22431\" style=\"width:2.77pt\"> </span></div><div class=\"ps22434 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The Group performs impairment tests when there is an indication of impairment at the level of individual fixed</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22435 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">asset or group of fixed assets, to ensure that property, plant and equipment are not carried at above their</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps22436 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:96.12pt\">recoverable amounts.</span></div><div class=\"ps22438 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Borrowing costs are capitalised as part of the cost of an asset, only when they are generally attributable to a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps22439 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:71.66pt\">qualifying asset.</span></div><div class=\"ps22442 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> </span></div><div class=\"ps22482 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:200.25pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">property, plant and equipment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20559 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-40131897 ps18476\">land and buildings</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9724 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps19696\">plant and machinery<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8760 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22443\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8442 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22444\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps20561 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9668 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22446 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8444 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22448 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">901.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16274 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">827.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22449 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">453.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8445 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22450\">2,182.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated depreciation at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22452 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(227.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16277 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(353.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22453 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(181.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8447 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(761.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22454 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22447\">674.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16279 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22447\">474.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22455 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22447\">272.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8449 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22450\">1,421.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Reclassification as assets held for sale<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22457 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(5.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16282 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(2.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22458 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8451 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(7.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-40131897 ps132\">Additions</span><span class=\"f charStyle-85922b7e ps22459\"><sup>(1)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22461 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">71.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16284 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">102.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22462 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">70.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8452 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">243.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Disposals<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22463 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(3.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16286 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(5.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22465 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22464\">(11.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8453 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(20.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Depreciation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22467 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(22.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16288 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(36.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22468 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(35.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8454 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(93.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Impairment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22469 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(8.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16290 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22464\">(11.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22470 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8455 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(22.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22471 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(22.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16292 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(27.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22472 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(23.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22473 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(73.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6300 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22474 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22447\">683.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16294 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22447\">493.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8795 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22447\">271.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22475 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22450\">1,448.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5134 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22476 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">913.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16296 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">851.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22477 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">465.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22478 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22450\">2,230.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9630 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated depreciation at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22479 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(229.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16298 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(357.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22480 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(194.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22481 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(781.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:466.72pt\">Additions in property, plant and equipment exclude advances to suppliers for fixed assets, which are considered as capital expenditure in the cash flow.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:200.25pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-23317bb7 ps132\"><span style=\"background-color:inherit\">property, plant and equipment</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20559 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-40131897 ps18476\">land and buildings</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9724 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps19696\">plant and machinery<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8760 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22443\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8442 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22444\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps20561 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9668 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22446 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8444 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22445\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22448 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">631.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16274 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">631.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22449 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">322.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8445 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22450\">1,585.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated depreciation at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22452 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(174.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16277 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(302.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22453 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(143.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8447 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(621.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22454 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22447\">457.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16279 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22447\">328.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22455 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22447\">178.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8449 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22447\">964.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Perimeter effect from business combination<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22457 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">56.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16282 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">17.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22458 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">49.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8451 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">123.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-40131897 ps132\">Additions</span><span class=\"f charStyle-85922b7e ps22459\"><sup>(1)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22461 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">185.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16284 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">156.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22462 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22460\">81.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8452 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">422.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Disposals<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22463 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(1.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16286 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22465 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(13.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8453 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(13.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Depreciation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22467 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(19.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16288 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(29.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22468 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(31.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8454 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22466\">(80.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Impairment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22469 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(3.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16290 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22486\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22470 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(0.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8455 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(4.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22471 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22456\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16292 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22472 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">7.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22473 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22485\">8.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6300 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22474 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22447\">674.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16294 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22447\">474.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8795 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22447\">272.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22475 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-ba8ac8da ps22450\">1,421.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5134 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22476 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">901.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16296 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">827.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22477 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22447\">453.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22478 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22450\">2,182.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9630 ss1637\"><div><div class=\"ps476 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated depreciation at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22479 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(227.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16298 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(353.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22480 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(181.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22481 ss356\"><div><div class=\"ps476 ss355\"><span class=\"f charStyle-183bdf94 ps22451\">(761.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22487 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:466.72pt\">Additions in property, plant and equipment exclude advances to suppliers for fixed assets, which are considered as capital expenditure in the cash flow.</span></div><div class=\"ps22488 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:362.73pt\">There are no restrictions or covenants associated with the aforementioned assets.</span></div><div class=\"ps22490 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">The other asset class included primarily barrels and barriques used in the maturing process, with a total net</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps22491 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:333.3pt\">carrying amount of \u20ac214.0 million (\u20ac222.9 million as at 31 December 2024).</span></div><div class=\"ps22497 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:7.22pt\">C</span><span class=\"f charStyle-58d8bcbe ps22493\" style=\"width:23.89pt\">apital</span><span class=\"f charStyle-58d8bcbe ps22494\" style=\"width:182.19pt\"> expenditure for the period, totalling \u20ac</span><span class=\"f charStyle-58d8bcbe ps22495\" style=\"width:25.01pt\">243.9<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps22496\" style=\"width:257.9pt\"> million, was mainly related to improvements made to</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22498 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">strengthen maintenance expenditure on the Group\u2019s operations and production facilities, as well as offices. With</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22501 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:338.1pt\">respect to the purchase of barrels for maturing bourbon and rum, it totalled \u20ac<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps22499\" style=\"width:19.45pt\">42.1</span><span class=\"f charStyle-58d8bcbe ps22500\" style=\"width:138.5pt\"> million and was included in the</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps22503 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:466.37pt\">\u2018other\u2019 category. Moreover, initiatives associated with supply chain capacity expansion, amounting to </span><span class=\"f charStyle-58d8bcbe ps22502\" style=\"width:29.83pt\">\u20ac116.6</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22504 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:28.33pt\">million</span><span class=\"f charStyle-58d8bcbe ps3407\" style=\"width:467.9pt\"> aimed at meeting anticipated long-term consumer demand, were carried out. The amount was reported</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22505 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">net of the disposal related to the bottling facility in Australia and Haiti land (\u20ac9.0 million and \u20ac5.0 million,</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps22507 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:60.08pt\">respectively) </span><span class=\"f charStyle-58d8bcbe ps22506\" style=\"width:436.13pt\">and were primarily allocated in the United States to expand bourbon production capacity (\u20ac73.8</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22508 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">million), in Jamaica (\u20ac12.5 million) and in Mexico, to expand supply chain facilities for tequila production (\u20ac10.4</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps22509 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">million). Furthermore, \u20ac10.7 million were related to the real-estate project to host the Group's future new</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22510 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:67.03pt\">headquarters. </span><span class=\"f charStyle-58d8bcbe ps18991\" style=\"width:429.17pt\">The borrowing costs associated with the acquisition of this qualified asset and capitalised,</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22511 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:442.68pt\">amounted to \u20ac0.5 million (\u20ac0.2 million in 2024), calculated at an interest rate of 2.9% (2.8% in 2024).<span class=\"f ps21\"> </span></span></div><div class=\"ps22517 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:375.71pt\">Sustainability-related investments included in the aforementioned initiatives totalled </span><span class=\"f charStyle-58d8bcbe ps22513\" style=\"width:60.32pt\">\u20ac40.3 million </span><span class=\"f charStyle-58d8bcbe ps22514\" style=\"width:8.89pt\">(\u20ac</span><span class=\"f charStyle-58d8bcbe ps22515\" style=\"width:19.45pt\">55.7</span><span class=\"f charStyle-58d8bcbe ps22516\" style=\"width:31.82pt\"> million</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps22518 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">in 2024), of which \u20ac24.0 million were directed towards climate related projects and \u20ac16.3 million was invested in</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps22519 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">water and wastewater management. These sustainability-related investments were primarily related to</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22520 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:358.12pt\">Lawrenceburg (\u20ac20.0 million), Jamaica (\u20ac11.3 million) and Arandas (\u20ac4.9 million).</span></div><div class=\"ps22524 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:116.58pt\">Disposals, amounting to \u20ac</span><span class=\"f charStyle-58d8bcbe ps22522\" style=\"width:19.45pt\">20.0</span><span class=\"f charStyle-58d8bcbe ps22523\" style=\"width:360.04pt\"> million, were mainly related to the sale of the bottling facility in Australia, land in</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps22526 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:490.97pt\">Haiti, as well as to the sale of barrels (\u20ac7.7 million) that were no longer suitable for use in the maturing process.</span><span class=\"f charStyle-58d8bcbe ps22525\" style=\"width:2.77pt\"> </span></div><div class=\"ps22528 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">In conjunction with the impairment testing performed on intangible assets, an impairment assessment was also</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22529 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">conducted on the property, plant and equipment dedicated to the production of Wilderness brand. As a result of</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22531 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:443.91pt\">this analysis, an impairment loss of \u20ac14.4 million was recognised, reflecting a reduction in the </span><span class=\"f charStyle-58d8bcbe ps22530\" style=\"width:52.24pt\">recoverable</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22532 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">amount of the related assets below their carrying value. The Group\u2019s strategic considerations were also</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps22533 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">reflected in the assessment of the recoverability of certain tangible assets, resulting in additional impairments of</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps22534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">\u20ac7.6 million, mainly relating to assets supporting visibility initiatives and in connection with certain business</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22535 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:44.45pt\">disposals.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-500": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Property, Plant and Equipment, Right of Use Assets and Biological Assets<span id=\"i7ab0f0c6725c4fc4a6e25c73fcb2cbc0\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Property, plant and equipment are stated at cost less accumulated depreciation, which is applied on a straight-</span></div><div class=\"ps1262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:311.07pt\">line basis to estimated residual values over their expected useful lives.</span><span class=\"f charStyle-2293a859 ps18246\" style=\"width:2.77pt\"> </span></div><div class=\"ps1263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:484.32pt\">For right of use assets, please refer to the note 6 vii-\u2018Lease components in the statement of financial position\u2019.</span></div><div class=\"ps1266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">For biological assets accounting treatment, please refer to note 8 iii-\u2018Fair value information on assets and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1267 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:42.76pt\">liabilities\u2019.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps22413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Land, even if acquired in conjunction with a building, is not depreciated, nor are held-for-sale tangible assets,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">which are reported at the lower of their carrying amount and fair value less cost to sell. Barrels are depreciated<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">based on the useful life, which can vary depending on the maturing work in progress for the liquid. For lease-</span></div><div class=\"ps1275 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">hold-improvements, the period of depreciation is the shorter of the economic life of the asset and the contract</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">duration of the underlying lease agreement. For right of use assets, unless the Group is reasonably certain that</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">it will obtain ownership of the leased asset at the end of the lease term, they are amortised on a straight-line</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:401.55pt\">basis over their estimated useful life or the term of the agreement, whichever is the shorter.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps22414\" style=\"width:11.08pt\">\u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div><div class=\"ps1281 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">The Group depreciation rate ranges by asset category are as follows:</span></div><div class=\"ps22424 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1729 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:266.25pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps47 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">business-related properties and light construction:\u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22417 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22416\">\u00a0 1.5%-10%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8762 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">plant and machinery:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22419 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22418\"> 2.5%-12.5%</span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">furniture, office and electronic equipment:\u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps15097 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22420\">\u00a0 10%-20%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1089 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">vehicles:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22421 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps484\"> 20%-25%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps15164 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">miscellaneous equipment:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22423 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22422\">\u00a0  2%-30%</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">Depreciation ceases on the date on which the asset is classified as held for sale or on which the asset is<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22427 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:273.88pt\">derecognised for accounting purposes, whichever occurs first.</span></div><div class=\"ps22429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Depreciation rates are revised through an ongoing assessment of the residual useful life of each asset category.</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.59pt\"> </span></div><div class=\"ps22430 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">This assessment is conducted in accordance with the technical and physical condition of the assets, the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22432 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:467.74pt\">technological environment, external factors, and generally accepted market and industry valuation criteria.</span><span class=\"f charStyle-2293a859 ps22431\" style=\"width:2.77pt\"> </span></div><div class=\"ps22434 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The Group performs impairment tests when there is an indication of impairment at the level of individual fixed</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22435 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">asset or group of fixed assets, to ensure that property, plant and equipment are not carried at above their</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps22436 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:96.12pt\">recoverable amounts.</span></div><div class=\"ps22438 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Borrowing costs are capitalised as part of the cost of an asset, only when they are generally attributable to a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps22439 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:71.66pt\">qualifying asset.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-499": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Property, Plant and Equipment, Right of Use Assets and Biological Assets<span id=\"i7ab0f0c6725c4fc4a6e25c73fcb2cbc0\"></span></span></div><div class=\"ps1268 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Land, even if acquired in conjunction with a building, is not depreciated, nor are held-for-sale tangible assets,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">which are reported at the lower of their carrying amount and fair value less cost to sell. Barrels are depreciated<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">based on the useful life, which can vary depending on the maturing work in progress for the liquid. For lease-</span></div><div class=\"ps1275 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">hold-improvements, the period of depreciation is the shorter of the economic life of the asset and the contract</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1276 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">duration of the underlying lease agreement. For right of use assets, unless the Group is reasonably certain that</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">it will obtain ownership of the leased asset at the end of the lease term, they are amortised on a straight-line</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1280 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:401.55pt\">basis over their estimated useful life or the term of the agreement, whichever is the shorter.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps22414\" style=\"width:11.08pt\">\u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div><div class=\"ps1281 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">The Group depreciation rate ranges by asset category are as follows:</span></div><div class=\"ps22424 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1729 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:266.25pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps47 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">business-related properties and light construction:\u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22417 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22416\">\u00a0 1.5%-10%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps8762 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">plant and machinery:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22419 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22418\"> 2.5%-12.5%</span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">furniture, office and electronic equipment:\u00a0 \u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps15097 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22420\">\u00a0 10%-20%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps1089 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">vehicles:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22421 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps484\"> 20%-25%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:15.75pt\"><td style=\"padding:0\"><div class=\"ps15164 ss1727\"><div><div class=\"ps22415 ss1726\"><span class=\"f charStyle-2293a859 ps132\">miscellaneous equipment:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22423 ss1728\"><div><div class=\"ps22415 ss1665\"><span class=\"f charStyle-2293a859 ps22422\">\u00a0  2%-30%</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">Depreciation ceases on the date on which the asset is classified as held for sale or on which the asset is<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22427 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:273.88pt\">derecognised for accounting purposes, whichever occurs first.</span></div><div class=\"ps22429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Depreciation rates are revised through an ongoing assessment of the residual useful life of each asset category.</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.59pt\"> </span></div><div class=\"ps22430 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">This assessment is conducted in accordance with the technical and physical condition of the assets, the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:467.74pt\">technological environment, external factors, and generally accepted market and industry valuation criteria.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-498": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Property, Plant and Equipment, Right of Use Assets and Biological Assets<span id=\"i7ab0f0c6725c4fc4a6e25c73fcb2cbc0\"></span></span></div><div class=\"ps22434 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The Group performs impairment tests when there is an indication of impairment at the level of individual fixed</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22435 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">asset or group of fixed assets, to ensure that property, plant and equipment are not carried at above their</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps22436 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:96.12pt\">recoverable amounts.</span></div><div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Intangible assets amortisation and impairment</span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">Intangible assets with a finite life are amortised on a straight-line basis in relation to their useful life and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">reviewed for impairment whenever events or circumstances indicate that the carrying amount may not be</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">recoverable. The amortisation period of intangible assets with a finite life is reviewed at least at the end of every</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">financial year in order to ascertain any changes in their useful life, which, if identified, will be treated as changes</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.09pt\">in estimates.</span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Other intangible assets with indefinite and definite life contain distribution rights and key money, the latter tested</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.24pt\">for impairment leveraging on a specialised third-party expert opinion connected to real estate assets.</span><span class=\"f charStyle-2293a859 ps22567\" style=\"width:3.45pt\"> </span><span class=\"f charStyle-2293a859 ps22568\" style=\"width:39.43pt\">Software</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:109.97pt\">amortisation rate is 20%.</span><span class=\"f charStyle-2293a859 ps22569\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps22570\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:224.93pt\">Intangible assets with indefinite life impairment test</span></div><div class=\"ps1227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Goodwill, brands and other intangible assets with an indefinite life are not amortised and are reviewed for</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impairment tests every year or more frequently if there is any indication that the asset may be impaired. The</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">annual approval of the impairment test results is performed by the Board of Directors of Davide Campari-Milano</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:480.15pt\">N.V., which takes place before the approval of the annual financial reports (consolidated and Company only).</span><span class=\"f charStyle-2293a859 ps22571\" style=\"width:2.77pt\"> </span></div><div class=\"ps1559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The ability to recover assets is ascertained by comparing the carrying amount to the related recoverable value,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:413.26pt\">which is represented by the higher of the fair value less cost of disposal, and the value in use.</span></div><div class=\"ps1561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">In the absence of a binding sale agreement, the fair value is estimated on the basis of recent transaction values</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">in an active market, or based on the best information available to determine the amount that could be obtained</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">from selling the asset. The value in use is determined by discounting expected cash flows resulting from the use</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">of the asset, and, if significant and reasonably determinable, the cash flows resulting from its sale at the end of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">its useful life. Cash flows are determined on the basis of reasonable, documented assumptions representing the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">best estimate of the future economic conditions that will occur during the remaining useful life of the asset, with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps9942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">greater weight given to external information. Growth rate assumptions are applied to the years beyond the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:479.75pt\">business plan horizon. The discount rate applied takes into account the implicit risk of the business segment.</span></div><div class=\"ps9944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">When it is not possible to determine the recoverable value of an individual asset, the Group estimates the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:323.32pt\">recoverable value of the cash-generating unit to which the asset belongs.</span></div><div class=\"ps9946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Impairment loss is recorded if the recoverable value of an asset is lower than its carrying amount by posting the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">related cost in the statement of profit or loss and is charged to other operating expenses. Goodwill impairments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:133.32pt\">can no longer be written back.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-497": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Property, Plant and Equipment, Right of Use Assets and Biological Assets<span id=\"i7ab0f0c6725c4fc4a6e25c73fcb2cbc0\"></span></span></div><div class=\"ps22434 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The Group performs impairment tests when there is an indication of impairment at the level of individual fixed</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22435 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">asset or group of fixed assets, to ensure that property, plant and equipment are not carried at above their</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps22436 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:96.12pt\">recoverable amounts.</span></div><div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Intangible assets amortisation and impairment</span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">Intangible assets with a finite life are amortised on a straight-line basis in relation to their useful life and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">reviewed for impairment whenever events or circumstances indicate that the carrying amount may not be</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">recoverable. The amortisation period of intangible assets with a finite life is reviewed at least at the end of every</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">financial year in order to ascertain any changes in their useful life, which, if identified, will be treated as changes</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.09pt\">in estimates.</span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Other intangible assets with indefinite and definite life contain distribution rights and key money, the latter tested</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.24pt\">for impairment leveraging on a specialised third-party expert opinion connected to real estate assets.</span><span class=\"f charStyle-2293a859 ps22567\" style=\"width:3.45pt\"> </span><span class=\"f charStyle-2293a859 ps22568\" style=\"width:39.43pt\">Software</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:109.97pt\">amortisation rate is 20%.</span><span class=\"f charStyle-2293a859 ps22569\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps22570\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:224.93pt\">Intangible assets with indefinite life impairment test</span></div><div class=\"ps1227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Goodwill, brands and other intangible assets with an indefinite life are not amortised and are reviewed for</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impairment tests every year or more frequently if there is any indication that the asset may be impaired. The</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">annual approval of the impairment test results is performed by the Board of Directors of Davide Campari-Milano</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:480.15pt\">N.V., which takes place before the approval of the annual financial reports (consolidated and Company only).</span><span class=\"f charStyle-2293a859 ps22571\" style=\"width:2.77pt\"> </span></div><div class=\"ps1559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The ability to recover assets is ascertained by comparing the carrying amount to the related recoverable value,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:413.26pt\">which is represented by the higher of the fair value less cost of disposal, and the value in use.</span></div><div class=\"ps1561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">In the absence of a binding sale agreement, the fair value is estimated on the basis of recent transaction values</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">in an active market, or based on the best information available to determine the amount that could be obtained</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">from selling the asset. The value in use is determined by discounting expected cash flows resulting from the use</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">of the asset, and, if significant and reasonably determinable, the cash flows resulting from its sale at the end of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">its useful life. Cash flows are determined on the basis of reasonable, documented assumptions representing the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">best estimate of the future economic conditions that will occur during the remaining useful life of the asset, with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps9942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">greater weight given to external information. Growth rate assumptions are applied to the years beyond the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:479.75pt\">business plan horizon. The discount rate applied takes into account the implicit risk of the business segment.</span></div><div class=\"ps9944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">When it is not possible to determine the recoverable value of an individual asset, the Group estimates the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:323.32pt\">recoverable value of the cash-generating unit to which the asset belongs.</span></div><div class=\"ps9946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Impairment loss is recorded if the recoverable value of an asset is lower than its carrying amount by posting the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">related cost in the statement of profit or loss and is charged to other operating expenses. Goodwill impairments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:133.32pt\">can no longer be written back.</span></div><div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:135.52pt\">Impairment of a financial asset</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets are tested for recoverability by applying an impairment model based on the expected credit loss</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:32.76pt\">(\u2018ECL\u2019).</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group applies the simplified method for trade receivables, which considers the probability of default over</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">the financial instrument\u2019s life (lifetime expected credit losses). In making impairment assessments, the Group</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">considers its historical credit loss experience, adjusted for forward-looking factors specific to the nature of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Group\u2019s receivables and economic environment. If any such evidence exists, an impairment loss is recognised</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">under selling, general and administrative expenses. More specifically, non-performing receivables are analysed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">based on the debtor\u2019s creditworthiness and ability to pay the sums due, as well as the degree of effective</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.92pt\">coverage provided by any collateral and personal guarantees in existence.</span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">With regard to trade receivables, two approaches are applied to estimate impairment, based on the specific</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">characteristics of the individual countries in which the Group operates and its constant growth at a global level:</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">one is a matrix-based model and the other applies the probability of default (\u2018PD\u2019) obtained from external</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">sources specialising in the country in which each subsidiary is located. The provision matrix, including the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:331.6pt\">overall actual result of the year, is reported in the relevant disclosure notes.</span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">A financial asset is impaired when internal or external information indicates that it is unlikely that the Group will</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:154.97pt\">receive the full contractual amount.</span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Lastly, with regard to other financial assets measured at amortised cost, and, more specifically, cash and cash</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">equivalents, the impact in terms of expected loss is not considered material and for this reason no adjustment is</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:111.66pt\">made to the book values.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-496": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Property, Plant and Equipment, Right of Use Assets and Biological Assets<span id=\"i7ab0f0c6725c4fc4a6e25c73fcb2cbc0\"></span></span></div><div class=\"ps22544 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:384.75pt\"></td><td style=\"padding:0;width:111pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-183bdf94 ps132\">biological assets represented as fixed assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11961 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-183bdf94 ps22542\">assets valued at cost<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16270 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-183bdf94 ps22352\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16275 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-183bdf94 ps22362\">58.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated depreciation at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16278 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-183bdf94 ps22543\">(27.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps16281 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-ba8ac8da ps22362\">30.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-183bdf94 ps132\">Additions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16283 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-183bdf94 ps22362\">17.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-183bdf94 ps132\">Disposals<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16285 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-183bdf94 ps22006\">(4.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-183bdf94 ps132\">Depreciation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16287 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-183bdf94 ps22543\">(13.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16289 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-183bdf94 ps22006\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16291 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-ba8ac8da ps22362\">30.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16293 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-183bdf94 ps22362\">70.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6300 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated depreciation at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16295 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-183bdf94 ps22543\">(40.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22552 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:385.5pt\"></td><td style=\"padding:0;width:110.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1733\"><div><div class=\"ps485 ss1732\"><span class=\"f charStyle-183bdf94 ps132\">biological assets represented as fixed assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16214 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps22546\">assets valued at cost<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7518 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps22547\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1733\"><div><div class=\"ps476 ss1732\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16220 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps22548\">43.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1733\"><div><div class=\"ps476 ss1732\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated depreciation at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16223 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps22549\">(20.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1733\"><div><div class=\"ps476 ss1732\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps16227 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-ba8ac8da ps22548\">22.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1733\"><div><div class=\"ps476 ss1732\"><span class=\"f charStyle-183bdf94 ps132\">Perimeter effect from business combination<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16230 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps22550\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1733\"><div><div class=\"ps476 ss1732\"><span class=\"f charStyle-183bdf94 ps132\">Additions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21352 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps22548\">15.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1733\"><div><div class=\"ps476 ss1732\"><span class=\"f charStyle-183bdf94 ps132\">Disposal<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21354 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps22551\">(1.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1733\"><div><div class=\"ps476 ss1732\"><span class=\"f charStyle-183bdf94 ps132\">Depreciation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21355 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps22551\">(9.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1733\"><div><div class=\"ps476 ss1732\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21357 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps22551\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1733\"><div><div class=\"ps476 ss1732\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21358 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-ba8ac8da ps22548\">30.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6300 ss1733\"><div><div class=\"ps476 ss1732\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21361 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps22548\">58.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5134 ss1733\"><div><div class=\"ps476 ss1732\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated depreciation at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21363 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps22549\">(27.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11433 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:77.1pt\">The addition of \u20ac</span><span class=\"f charStyle-58d8bcbe ps3232\" style=\"width:19.45pt\">17.8</span><span class=\"f charStyle-58d8bcbe ps685\" style=\"width:399.63pt\"> million was mainly related to agave plantations in Mexico. No guarantees were given to<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps11434 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:194.94pt\">third parties in relation to these fixed assets.</span></div><div class=\"ps11435 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:100.73pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22553\" style=\"width:395.45pt\">, the Mexican agave plantations comprised 2,078 hectares. There is no non-productive</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps11436 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:471.18pt\">biological asset for agave plantations and the average growing cycle covers a period of 6 years. During </span><span class=\"f charStyle-58d8bcbe ps22554\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps3977\" style=\"width:2.77pt\">,</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps11437 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">the Group harvested approximately 9,512 tonnes of agave in Mexico, which have been measured at fair value</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps11438 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:208.28pt\">less costs to sell and transferred to inventories.<span class=\"f ps21\"> </span></span></div><div class=\"ps8901 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:97.46pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22555\" style=\"width:398.72pt\">, the French grape plantations located in the Champagne region comprised 19.5 hectares,</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps11439 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">out of which overall 49% of these hectares were rented with medium- and long-term agreements, and the</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps11440 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">remaining 51% was owned. There are no non-productive biological assets for grape plantations. Agricultural</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps11441 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">output covers a one-year period, and the harvest occurred in the second half of the year. Taking into account the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps11442 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">biological and vegetative cycle, all the costs incurred in anticipation of the future harvest (services, products and</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps11443 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:372.76pt\">other ancillary costs) have been considered as inventory in current biological assets </span><span class=\"f charStyle-58d8bcbe ps22556\" style=\"width:96.12pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22557\" style=\"width:27.21pt\"> in the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps11444 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">Group\u2019s accounts: this value is in line with the fair value of the growing grapes based on available information on</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps11446 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:97.2pt\">commodities markets.</span></div><div class=\"ps11479 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">In addition, in the Martinique area (totalling 776 hectares owned and 336 hectares rented), sugar cane</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps11480 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:95.45pt\">plantations comprise</span><span class=\"f charStyle-58d8bcbe ps22558\" style=\"width:6.55pt\"> <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps22559\" style=\"width:16.68pt\">604</span><span class=\"f charStyle-58d8bcbe ps22560\" style=\"width:377.53pt\"> hectares, of which, overall, 44% are owned and 56% rented with long-term</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps11481 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">agreements (unchanged compared to 2024). Of these, 498 hectares are cultivated, and the remaining 106</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps11482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:125.89pt\">hectares are not cultivated.</span><span class=\"f charStyle-58d8bcbe ps22561\" style=\"width:370.26pt\"> Agricultural output covers a one-year period, and the harvest is expected from</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">February to June. Given this process, the sugar cane has been considered as a current biological asset</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:473.34pt\">classified within the inventory and measured based on the costs sustained during the production process </span><span class=\"f charStyle-58d8bcbe ps22562\" style=\"width:22.74pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:46.12pt\">December</span><span class=\"f charStyle-58d8bcbe ps22563\" style=\"width:450.02pt\">: this value was estimated based on the costs of infrastructure, land preparation and sugar cane</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">cultivation, due to the absence of any active reference market for comparable plantation and similar output in</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">terms of age and qualitative characteristics. Operating grants in support of industrial investments and of sugar</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">cane plantations in Martinique recognised in the statement of profit or loss in the period were equal to \u20ac0.7</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:126.64pt\">million (\u20ac0.2 million in 2024).</span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:302.17pt\">No triggering events for impairment tests occurred during the period.</span><span class=\"f charStyle-58d8bcbe ps22564\" style=\"width:2.77pt\"> </span></div><div class=\"ps23124 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Inventories and Biological Assets<span id=\"icf3c4835487e44a98dd170f5785536e7\"></span></span></div><div class=\"ps23126 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps23127 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Inventories are stated at the lower of cost and net realisable value. Costs of finished products include raw</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps23128 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">materials, supplies and consumables, direct labour and expenses and an appropriate proportion of production</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps23129 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">and other overheads. Cost is calculated at the weighted average cost incurred in acquiring inventories. Maturing<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23130 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">inventory includes the depreciation cost of the barrels used in the ageing process on a straight-line basis over</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23131 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">the ageing horizon. Maturing inventory, as well as biological assets that, due to their nature, are retained for<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23132 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">more than one year, are classified as current assets, as they are expected to be realised in the normal operating<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23133 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:25.55pt\">cycle.</span></div><div class=\"ps23134 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">For detailed information on the accounting policy for inventory biological assets, please also refer to note 8</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:216.06pt\">iii-\u2018Fair value information on assets and liabilities\u2019</span><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span><div class=\"ps23158 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:164.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:105pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1123 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8865 ss517\"><div><div class=\"ps2415 ss516\"><span class=\"f charStyle-0788a2e8 ps23140\">of which perimeter effect</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1124 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8871 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-183bdf94 ps23141\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss56\"><div><div class=\"ps476 ss55\"><span class=\"f charStyle-183bdf94 ps132\">Finished products and goods for resale<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23142 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">240.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23144 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-183bdf94 ps23143\">(4.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">276.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss56\"><div><div class=\"ps476 ss55\"><span class=\"f charStyle-183bdf94 ps132\">Maturing inventory<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23145 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22659\">1,202.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23147 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-183bdf94 ps23146\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22659\">1,157.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss56\"><div><div class=\"ps476 ss55\"><span class=\"f charStyle-183bdf94 ps132\">Work in progress<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23148 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">163.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23149 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-183bdf94 ps23143\">(2.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">143.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss56\"><div><div class=\"ps476 ss55\"><span class=\"f charStyle-183bdf94 ps132\">Raw materials, supplies and consumables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23150 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">80.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23151 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-183bdf94 ps23143\">(2.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">104.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss56\"><div><div class=\"ps476 ss55\"><span class=\"f charStyle-ba8ac8da ps132\">Inventories<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23152 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22659\">1,686.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23153 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-ba8ac8da ps23143\">(9.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22659\">1,681.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss56\"><div><div class=\"ps476 ss55\"><span class=\"f charStyle-ba8ac8da ps132\">Current biological assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23154 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">34.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23155 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-ba8ac8da ps23146\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss56\"><div><div class=\"ps476 ss55\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23156 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22659\">1,721.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23157 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-ba8ac8da ps23143\">(9.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22659\">1,703.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22063 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:73.31pt\">Stocks totalled \u20ac</span><span class=\"f charStyle-58d8bcbe ps7261\" style=\"width:33.34pt\">1,721.1<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23160\" style=\"width:33.87pt\"> million </span><span class=\"f charStyle-58d8bcbe ps23161\" style=\"width:96.12pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps23162\" style=\"width:107.18pt\">, broadly in line with the </span><span class=\"f charStyle-58d8bcbe ps23163\" style=\"width:85.02pt\">31 December 2024</span><span class=\"f charStyle-58d8bcbe ps23164\" style=\"width:2.77pt\">.</span></div><div class=\"ps22065 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:117.13pt\">Current biological assets </span><span class=\"f charStyle-58d8bcbe ps23165\" style=\"width:101.04pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps23166\" style=\"width:46.6pt\"> totalled \u20ac<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23167\" style=\"width:19.45pt\">34.2</span><span class=\"f charStyle-58d8bcbe ps23168\" style=\"width:211.96pt\"> million, corresponding to the fair value of the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps22066 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">sugar cane, grapes and agave harvests that had not yet ripened. All these biological products are classified as<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22067 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">inventory in current assets in consideration of their annual vegetative growing process, except agave, which is</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22068 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">also classified as inventory in current assets during the 6-year growing period although the agave plants are not</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22069 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">yet ripe for the harvest useful for distillation, as they can theoretically be sold as a growing plant. For more</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps22070 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">information related to the fair value estimation, refer to note 8 iii \u2018Fair Value Information on Assets and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22071 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:407.13pt\">Liabilities\u2019. No guarantees were given to third parties in relation to these inventories. As of <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23169\" style=\"width:86.28pt\">31 December 2025</span><span class=\"f charStyle-58d8bcbe ps2216\" style=\"width:2.77pt\">,</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:389.81pt\">some eaux-de-vie inventories in France were subject to agricultural guarantees for \u20ac8.0 </span><span class=\"f charStyle-58d8bcbe ps23170\" style=\"width:28.33pt\">million</span><span class=\"f charStyle-58d8bcbe ps23171\" style=\"width:78pt\">. No public grants</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:352.75pt\">were received for agricultural produce in Martinique during 2025 (\u20ac0.1 million in </span><span class=\"f charStyle-58d8bcbe ps23172\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps23173\" style=\"width:6.1pt\">).</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:357.48pt\">Inventories are reported net of the relevant impairment provision, amounting to \u20ac</span><span class=\"f charStyle-58d8bcbe ps23174\" style=\"width:19.45pt\">76.0</span><span class=\"f charStyle-58d8bcbe ps23175\" style=\"width:43.12pt\"> million (\u20ac</span><span class=\"f charStyle-58d8bcbe ps23176\" style=\"width:19.45pt\">73.1</span><span class=\"f charStyle-58d8bcbe ps23177\" style=\"width:56.63pt\"> million at 31</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:48.89pt\">December </span><span class=\"f charStyle-58d8bcbe ps23178\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:6.1pt\">).</span></div><div class=\"ps9519 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:320.25pt\"></td><td style=\"padding:0;width:175.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22946 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22945\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22948 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-ba8ac8da ps22947\">(73.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">(Accruals)/Release<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22950 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22947\">(26.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Utilisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22952 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps23179\">20.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22953 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22951\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22954 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-ba8ac8da ps22947\">(76.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23180 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:320.25pt\"></td><td style=\"padding:0;width:175.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22946 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22945\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22948 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-ba8ac8da ps22947\">(22.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Perimeter effect for acquisition<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22950 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22947\">(38.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">(Accruals)/Release<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22952 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22947\">(15.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Utilisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22953 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22951\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22954 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22949\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22955 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-ba8ac8da ps22947\">(73.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26151 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Fair Value Information on Assets and Liabilities<span id=\"if2edeecf2a55458e960be05d8323a9a7\"></span></span></div><div class=\"ps26153 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:133.88pt\">Fair value on biological assets<span class=\"f ps21\"> </span></span></div><div class=\"ps26154 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group\u2019s biological assets include grapes for champagne production, sugar cane plantations for rum</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26155 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">production and agave for tequila/mezcal production, which are used as raw materials for the production of those</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps26156 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:28.87pt\">spirits.</span><span class=\"f charStyle-2293a859 ps6790\" style=\"width:2.77pt\"> </span></div><div class=\"ps26157 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">Grapevines remain classified as fixed biological assets valued at cost, net of accumulated depreciation and</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps17581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">accumulated impairment losses. Immature vines are stated at accumulated cost. Capitalisation of costs ceases<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26158 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">when the vines reach maturity. Depreciation commences when the grapevines are considered mature, which is</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26159 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">when they produce their first commercially viable crop. Grapes growing on the plant are immediately classified</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26160 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">as biological inventory since agricultural output covers a one-year period and the harvest is expected to occur in</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps26161 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">the second half of the year. Taking into account the biological and vegetative cycle, all the costs incurred in</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps15429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">anticipation of the future harvest (services, products and other ancillary costs) are considered as inventory in</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15430 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">current biological assets at the reporting date, at a value that is in line with the fair value of the growing grapes<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15431 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:249.43pt\">based on available information on commodities markets.</span></div><div class=\"ps15433 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">Sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps12184 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">depreciation and accumulated impairment losses up to the harvest, which occurs from February to June. At</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps12185 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">harvest time, the agricultural output that covers a one-year period is classified as an inventory item at a value</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps12186 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">estimated based on the costs of infrastructure, land preparation and sugar cane cultivation, with reference to an</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">active market for comparable plantations and similar output in terms of age and qualitative characteristics, if<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:42.23pt\">available.</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Agave plantations remain classified as fixed biological assets valued at cost, net of accumulated depreciation</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">and accumulated impairment losses. The vegetative cycle for the ripening of the agave fruit is approximately six</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">years. During this period, the agave plants have not yet matured to be used for distillation purposes but can</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">theoretically be sold as medium-aged plants. Agave cannot be distinguished from planting and can only be</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:81.93pt\">harvested once. T</span><span class=\"f charStyle-2293a859 ps26162\" style=\"width:414.26pt\">he value of the growing product is represented as biological inventory and the reported fair</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">value is estimated on the basis of the costs of infrastructure, soil preparation and agave cultivation, in the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">absence of an active reference market for comparable plantations and similar productions in terms of age and</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.42pt\">qualitative characteristics.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The following biological assets are not measured at fair value, and consequently are not represented in this</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:82.22pt\">disclosure section:</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">grapevines and agave plantations which remain classified as fixed biological assets valued at cost, net of</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:278.9pt\">accumulated depreciation and accumulated impairment losses,</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:332.21pt\">depreciation and accumulated impairment losses, up to the annual harvest.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Fair value measurement of current biological assets in inventory (agricultural produce: agave, grapes and sugar)</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">is determined based on the sale price net of estimated sales costs, if available, or having as the main reference</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">the total production costs in case the agricultural product is so peculiar that there is an absence of any active</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:486.02pt\">reference market for comparable plantations and similar output in terms of age and qualitative characteristics. </span><div class=\"ps7849 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:126pt\">Non-Financial Instruments</span></div><div class=\"ps15459 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">The following table details the hierarchy of non-financial instruments measured at fair value, based on the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps15460 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:426.45pt\">valuation methods used. There were no transfers between fair value measurement levels during </span><span class=\"f charStyle-bdf8be45 ps26404\" style=\"width:36.11pt\"><span style=\"background-color:inherit\">the year</span></span><span class=\"f charStyle-bdf8be45 ps26405\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span><span class=\"f charStyle-58d8bcbe ps26406\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps26407\" style=\"width:2.77pt\">.<span class=\"f ps21\"> </span></span></div><div class=\"ps15462 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:171.63pt\">Fair value of non-financial instruments:</span></div><div class=\"ps15463 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">The following table details the hierarchy of non-financial instruments measured at fair value, based on the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps15464 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:108.34pt\">valuation methods used:</span></div><div class=\"ps15465 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.04pt\">level 1: the valuation methods use prices quoted on an active market for the assets and liabilities subject to</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15466 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:42.78pt\">valuation;</span></div><div class=\"ps15467 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">level 2: the valuation methods take into account inputs other than the quoted market prices in level 1, but</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps15468 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:319.37pt\">only those that are observable on the market, either directly or indirectly;</span></div><div class=\"ps15469 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:428.84pt\">level 3: the methods used take into account inputs that are not based on observable market data.</span></div><div class=\"ps26417 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:171.75pt\"></td><td style=\"padding:0;width:108pt\"></td><td style=\"padding:0;width:108pt\"></td><td style=\"padding:0;width:108pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18012 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps26408\">level 1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12383 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps26408\">level 2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18812 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps26408\">level 3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18027 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps25627\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12385 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps25627\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12389 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps25627\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1960\"><div><div class=\"ps485 ss1957\"><span class=\"f charStyle-ba8ac8da ps132\">Assets valued at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1960\"><div><div class=\"ps485 ss1957\"><span class=\"f charStyle-183bdf94 ps132\">Third-party investment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23936 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26410 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26412 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26411\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1960\"><div><div class=\"ps485 ss1957\"><span class=\"f charStyle-183bdf94 ps132\">Biological assets in inventory<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23942 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26413 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26414 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26411\">34.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1960\"><div><div class=\"ps485 ss1957\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23948 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26415 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26416 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-ba8ac8da ps26411\">61.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:171.75pt\"></td><td style=\"padding:0;width:108pt\"></td><td style=\"padding:0;width:108pt\"></td><td style=\"padding:0;width:108pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18012 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps26408\">level 1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12383 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps26408\">level 2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18812 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps26408\">level 3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18027 ss1961\"><div><div class=\"ps9673 ss1958\"><span class=\"f charStyle-183bdf94 ps25627\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12385 ss1961\"><div><div class=\"ps9673 ss1958\"><span class=\"f charStyle-183bdf94 ps25627\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12389 ss1961\"><div><div class=\"ps9673 ss1958\"><span class=\"f charStyle-183bdf94 ps25627\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1960\"><div><div class=\"ps485 ss1957\"><span class=\"f charStyle-ba8ac8da ps132\">Assets valued at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:9pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1962\"><div><div class=\"ps9673 ss1957\"><span class=\"f charStyle-183bdf94 ps132\">Third-party investment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps18656 ss1961\"><div><div class=\"ps22869 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12394 ss1961\"><div><div class=\"ps22869 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12396 ss1961\"><div><div class=\"ps22869 ss1958\"><span class=\"f charStyle-183bdf94 ps26411\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps2371 ss1960\"><div><div class=\"ps485 ss1957\"><span class=\"f charStyle-183bdf94 ps132\">Biological assets in inventory<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26419 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26420 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26421 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26411\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7311 ss1960\"><div><div class=\"ps485 ss1957\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26422 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26423 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26424 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-ba8ac8da ps26411\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps1889 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:472.2pt\">The following tables show the valuation techniques used in measuring level 2 and level 3 fair values </span><span class=\"f charStyle-58d8bcbe ps26234\" style=\"width:23.92pt\">at 31<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1891 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.58pt\">December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps26425\" style=\"width:424.53pt\"> for non-financial instruments measured at fair value in the statement of Financial Position, and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1892 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:180.56pt\">the significant unobservable inputs used.</span></div><div class=\"ps26438 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:122.25pt\"></td><td style=\"padding:0;width:124.5pt\"></td><td style=\"padding:0;width:124.5pt\"></td><td style=\"padding:0;width:124.5pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss762\"><div><div class=\"ps2415 ss659\"><span class=\"f charStyle-ba8ac8da ps132\">type<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26426 ss1963\"><div><div class=\"ps2415 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:65.65pt\">valuation technique<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26427 ss1963\"><div><div class=\"ps2415 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:34.96pt\">significant<span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:68.37pt\">unobservable inputs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7723 ss1963\"><div><div class=\"ps2415 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:119.24pt\">inter-relationship between<span class=\"f ps21\"> </span></span><span class=\"f charStyle-ba8ac8da ps26428\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:119.23pt\">significant unobservable inputs<span class=\"f ps21\"> </span></span><span class=\"f charStyle-ba8ac8da ps26429\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2419 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:92.49pt\">and fair value measurement<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:78pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7726 ss759\"><div><div class=\"ps2381 ss659\"><span class=\"f charStyle-183bdf94 ps132\">biological assets (inventory)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26431 ss1964\"><div><div class=\"ps2415 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.24pt\">The fair value of agricultural products<span class=\"f ps21\"> </span></span><span class=\"f charStyle-183bdf94 ps26428\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.24pt\">grown on the plant is determined by</span><span class=\"f charStyle-183bdf94 ps26428\" style=\"width:1.94pt\"> </span></div><div class=\"ps2419 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.22pt\">considering the market value of</span><span class=\"f charStyle-183bdf94 ps26430\" style=\"width:1.94pt\"> </span></div><div class=\"ps2420 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.22pt\">similar commodities and the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-183bdf94 ps26430\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2421 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.24pt\">biological/vegetative cycle which is<span class=\"f ps21\"> </span></span><span class=\"f charStyle-183bdf94 ps26428\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2422 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.22pt\">based on all costs incurred in</span><span class=\"f charStyle-183bdf94 ps26430\" style=\"width:1.94pt\"> </span></div><div class=\"ps2426 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.22pt\">anticipation of the future harvest</span><span class=\"f charStyle-183bdf94 ps26430\" style=\"width:1.94pt\"> </span></div><div class=\"ps2429 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.24pt\">(service, products and other ancillary</span><span class=\"f charStyle-183bdf94 ps26428\" style=\"width:1.94pt\"> </span></div><div class=\"ps2432 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:20.6pt\">costs).</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26434 ss1964\"><div><div class=\"ps1083 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps9423\" style=\"width:2.33pt\">-<span class=\"f ps21\"> </span></span><span class=\"f charStyle-40131897 ps9424\" style=\"width:112.12pt\">actual cost of cultivation and</span><span class=\"f charStyle-40131897 ps26432\" style=\"width:1.94pt\"> </span></div><div class=\"ps2976 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps9424\" style=\"width:112.14pt\">preparation of the land and the</span><span class=\"f charStyle-40131897 ps26429\" style=\"width:1.94pt\"> </span></div><div class=\"ps2989 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps9424\" style=\"width:52.48pt\">plant per hectare</span><span class=\"f charStyle-40131897 ps26433\" style=\"width:1.94pt\"> </span></div><div class=\"ps2990 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps9423\" style=\"width:2.33pt\">-<span class=\"f ps21\"> </span></span><span class=\"f charStyle-40131897 ps9424\" style=\"width:87.46pt\">estimated yields per hectare</span></div><div class=\"ps2991 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps9423\" style=\"width:2.33pt\">-<span class=\"f ps21\"> </span></span><span class=\"f charStyle-40131897 ps9424\" style=\"width:112.14pt\">estimated market price for similar</span><span class=\"f charStyle-40131897 ps26429\" style=\"width:1.94pt\"> </span></div><div class=\"ps2992 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps9424\" style=\"width:41.2pt\">commodities.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7733 ss1964\"><div><div class=\"ps2374 ss353\"><span class=\"f charStyle-183bdf94 ps132\">The estimated fair value would <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss353\"><span class=\"f charStyle-183bdf94 ps132\">increase (decrease) if:</span></div><div class=\"ps2378 ss353\"><span class=\"f charStyle-183bdf94 ps132\"> - the estimated cost of cultivation and <span class=\"f ps21\"> </span></span></div><div class=\"ps2381 ss353\"><span class=\"f charStyle-183bdf94 ps132\">preparation of the land and plantation </span></div><div class=\"ps2382 ss353\"><span class=\"f charStyle-183bdf94 ps132\">was higher (lower); or</span></div><div class=\"ps2385 ss353\"><span class=\"f charStyle-183bdf94 ps132\"> - the estimated yield per hectare was <span class=\"f ps21\"> </span></span></div><div class=\"ps2350 ss353\"><span class=\"f charStyle-183bdf94 ps132\">higher (lower).</span></div></div></div></td></tr><tr style=\"height:87pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5110 ss1965\"><div><div class=\"ps2458 ss659\"><span class=\"f charStyle-183bdf94 ps132\">third-party investments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26435 ss1966\"><div><div class=\"ps2415 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.24pt\">The valuation model considers<span class=\"f ps21\"> </span></span><span class=\"f charStyle-183bdf94 ps26428\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.24pt\">investments in companies that are</span><span class=\"f charStyle-183bdf94 ps26428\" style=\"width:1.94pt\"> </span></div><div class=\"ps2419 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.23pt\">strategic investments for the Group for<span class=\"f ps21\"> </span></span><span class=\"f charStyle-183bdf94 ps26429\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2420 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.22pt\">which the election has been to</span><span class=\"f charStyle-183bdf94 ps26430\" style=\"width:1.94pt\"> </span></div><div class=\"ps2421 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.23pt\">recognise changes in the related fair</span><span class=\"f charStyle-183bdf94 ps26429\" style=\"width:1.94pt\"> </span></div><div class=\"ps2422 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.24pt\">values through profit or loss. The fair</span><span class=\"f charStyle-183bdf94 ps26428\" style=\"width:1.94pt\"> </span></div><div class=\"ps2426 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.22pt\">value is defined based on the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-183bdf94 ps26430\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2429 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.23pt\">performance result of the companies</span><span class=\"f charStyle-183bdf94 ps26429\" style=\"width:1.94pt\"> </span></div><div class=\"ps2432 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.22pt\">based on the last Financial</span><span class=\"f charStyle-183bdf94 ps26430\" style=\"width:1.94pt\"> </span></div><div class=\"ps2434 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:66.85pt\">Statements available.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26436 ss1966\"><div><div class=\"ps2458 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps11548\" style=\"width:2.33pt\">-</span><span class=\"f charStyle-183bdf94 ps132\" style=\"width:75.03pt\">- business performance.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26437 ss1966\"><div><div class=\"ps2457 ss353\"><span class=\"f charStyle-40131897 ps132\">The estimated fair value would </span></div><div class=\"ps2458 ss353\"><span class=\"f charStyle-40131897 ps132\">increase (decrease) if the business </span></div><div class=\"ps2459 ss353\"><span class=\"f charStyle-40131897 ps132\">performance, was higher (lower).</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12611 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">All the biological products (agave, sugar cane and grapes) are classified as current inventory in consideration of</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps26440 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">their annual vegetative growing process, apart from agave which is classified as inventory even during the 6-</span></div><div class=\"ps26441 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">year growing period in consideration of the vegetative characteristics of the product. The amount disclosed in</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps26444 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:124.91pt\">the consolidated accounts </span><span class=\"f charStyle-58d8bcbe ps26442\" style=\"width:102.69pt\">at 31 December 2024</span><span class=\"f charStyle-58d8bcbe ps26443\" style=\"width:268.55pt\">, for sugar cane and grapes, was used in the production</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps25640 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:118.22pt\">process during the year </span><span class=\"f charStyle-58d8bcbe ps26445\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps26446\" style=\"width:330.72pt\"> and the value reported in the Group statement of financial position </span><span class=\"f charStyle-58d8bcbe ps22554\" style=\"width:24.97pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps26448 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2025</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:361.62pt\"> represented the new value of agricultural products that are growing on the plants.</span><span class=\"f charStyle-58d8bcbe ps26447\" style=\"width:2.77pt\"> </span></div><div class=\"ps26450 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">The following table shows a reconciliation from the opening and the closing balance for level 3 fair values as of</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps26453 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:89.8pt\">31 December 2024</span><span class=\"f charStyle-58d8bcbe ps26368\" style=\"width:27pt\"> and </span><span class=\"f charStyle-58d8bcbe ps26451\" style=\"width:89.8pt\">31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26452\" style=\"width:289.62pt\"> for biological assets in inventory and third-party investments,</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps26455 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:54.81pt\">respectively.</span><span class=\"f charStyle-58d8bcbe ps26454\" style=\"width:2.77pt\"> </span></div><div class=\"ps26460 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:11.72pt\">In </span><span class=\"f charStyle-58d8bcbe ps26458\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps26459\" style=\"width:462.23pt\">, the change in fair value indicated referred to the harvests of agave and sugar cane carried out during</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps26462 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:38.33pt\">the year.</span><span class=\"f charStyle-58d8bcbe ps26461\" style=\"width:2.77pt\"> </span></div><div class=\"ps26473 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:366pt\"></td><td style=\"padding:0;width:129.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18723 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-40131897 ps15411\">biological assets in inventory</span><span class=\"f charStyle-85922b7e ps26464\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18730 ss1661\"><div><div class=\"ps485 ss1658\"><span class=\"f charStyle-ba8ac8da ps26465\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-183bdf94 ps132\">harvest and reclassification to raw materials<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26467 ss1661\"><div><div class=\"ps485 ss1658\"><span class=\"f charStyle-183bdf94 ps26466\">(5.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-183bdf94 ps132\">accretion<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26468 ss1661\"><div><div class=\"ps485 ss1658\"><span class=\"f charStyle-183bdf94 ps26465\">19.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-183bdf94 ps132\">change in fair value included in profit or loss (cost of goods sold)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26469 ss1661\"><div><div class=\"ps485 ss1658\"><span class=\"f charStyle-183bdf94 ps26466\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26471 ss1661\"><div><div class=\"ps485 ss1658\"><span class=\"f charStyle-183bdf94 ps26470\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26472 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:110.43pt\"></span></span><span class=\"ps11556\">34.2<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26475 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:183.04pt\">Please refer to note 5 iii-\u2018Inventories and Biological Assets\u2019.</span><span class=\"f charStyle-40131897 ps26474\" style=\"width:1.94pt\"> </span></div><div class=\"ps26487 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:366.75pt\"></td><td style=\"padding:0;width:129pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26477 ss421\"><div><div class=\"ps476 ss418\"><span class=\"f charStyle-183bdf94 ps26476\">biological assets in inventory<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26479 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-ba8ac8da ps26478\">15.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-183bdf94 ps132\">harvest and reclassification to raw materials<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26481 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-183bdf94 ps26480\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-183bdf94 ps132\">accretion<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26483 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-183bdf94 ps26482\">9.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-183bdf94 ps132\">change in fair value included in profit or loss (cost of goods sold)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26484 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-183bdf94 ps26482\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26485 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-183bdf94 ps26480\">(2.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26486 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-ba8ac8da ps26478\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBiologicalAssetsAndGovernmentGrantsForAgriculturalActivityExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-495": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Property, Plant and Equipment, Right of Use Assets and Biological Assets<span id=\"i7ab0f0c6725c4fc4a6e25c73fcb2cbc0\"></span></span></div><div class=\"ps22528 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">In conjunction with the impairment testing performed on intangible assets, an impairment assessment was also</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22529 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">conducted on the property, plant and equipment dedicated to the production of Wilderness brand. As a result of</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22531 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:443.91pt\">this analysis, an impairment loss of \u20ac14.4 million was recognised, reflecting a reduction in the </span><span class=\"f charStyle-58d8bcbe ps22530\" style=\"width:52.24pt\">recoverable</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22532 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">amount of the related assets below their carrying value. The Group\u2019s strategic considerations were also</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps22533 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">reflected in the assessment of the recoverability of certain tangible assets, resulting in additional impairments of</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps22534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">\u20ac7.6 million, mainly relating to assets supporting visibility initiatives and in connection with certain business</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22535 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:44.45pt\">disposals.</span></div><div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Intangible assets amortisation and impairment</span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">Intangible assets with a finite life are amortised on a straight-line basis in relation to their useful life and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">reviewed for impairment whenever events or circumstances indicate that the carrying amount may not be</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">recoverable. The amortisation period of intangible assets with a finite life is reviewed at least at the end of every</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">financial year in order to ascertain any changes in their useful life, which, if identified, will be treated as changes</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.09pt\">in estimates.</span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Other intangible assets with indefinite and definite life contain distribution rights and key money, the latter tested</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.24pt\">for impairment leveraging on a specialised third-party expert opinion connected to real estate assets.</span><span class=\"f charStyle-2293a859 ps22567\" style=\"width:3.45pt\"> </span><span class=\"f charStyle-2293a859 ps22568\" style=\"width:39.43pt\">Software</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:109.97pt\">amortisation rate is 20%.</span><span class=\"f charStyle-2293a859 ps22569\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps22570\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:224.93pt\">Intangible assets with indefinite life impairment test</span></div><div class=\"ps1227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Goodwill, brands and other intangible assets with an indefinite life are not amortised and are reviewed for</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impairment tests every year or more frequently if there is any indication that the asset may be impaired. The</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">annual approval of the impairment test results is performed by the Board of Directors of Davide Campari-Milano</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:480.15pt\">N.V., which takes place before the approval of the annual financial reports (consolidated and Company only).</span><span class=\"f charStyle-2293a859 ps22571\" style=\"width:2.77pt\"> </span></div><div class=\"ps1559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The ability to recover assets is ascertained by comparing the carrying amount to the related recoverable value,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:413.26pt\">which is represented by the higher of the fair value less cost of disposal, and the value in use.</span></div><div class=\"ps1561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">In the absence of a binding sale agreement, the fair value is estimated on the basis of recent transaction values</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">in an active market, or based on the best information available to determine the amount that could be obtained</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">from selling the asset. The value in use is determined by discounting expected cash flows resulting from the use</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">of the asset, and, if significant and reasonably determinable, the cash flows resulting from its sale at the end of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">its useful life. Cash flows are determined on the basis of reasonable, documented assumptions representing the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">best estimate of the future economic conditions that will occur during the remaining useful life of the asset, with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps9942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">greater weight given to external information. Growth rate assumptions are applied to the years beyond the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:479.75pt\">business plan horizon. The discount rate applied takes into account the implicit risk of the business segment.</span></div><div class=\"ps9944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">When it is not possible to determine the recoverable value of an individual asset, the Group estimates the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:323.32pt\">recoverable value of the cash-generating unit to which the asset belongs.</span></div><div class=\"ps9946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Impairment loss is recorded if the recoverable value of an asset is lower than its carrying amount by posting the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">related cost in the statement of profit or loss and is charged to other operating expenses. Goodwill impairments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:133.32pt\">can no longer be written back.</span></div><div class=\"ps22678 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:54.96pt\">Impairment<span id=\"i43f18b7eddc347e4aac05e7f23d934b8\"></span></span><span class=\"f charStyle-562c451e ps6931\" style=\"width:20.76pt\"> test</span><span class=\"f charStyle-562c451e ps22677\" style=\"width:3.05pt\"> </span></div><div class=\"ps48 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">In line with prior years, the approval of the Group\u2019s annual assessment of the recoverability of intangible assets</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps49 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">with an indefinite useful life was completed prior to the 2025 year\u2011end. Accordingly, the carrying amount of such</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps50 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">intangible assets, i.e., the amount at which the assets are recognised in the Group\u2019s Consolidated Statement of</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps51 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Financial Position, was determined as at 30 September 2025, representing the most recent actual data available</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps2248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">at the time of the assessment. The outcomes of the impairment tests remained valid as at 31 December 2025,</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps2250 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">as no events or indicators of impairment arose during the fourth quarter of 2025 that would suggest a material</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps2252 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:359.4pt\">reduction in either the carrying amounts or the recoverable amounts of the assets</span><span class=\"f charStyle-58d8bcbe ps22679\" style=\"width:2.77pt\">.</span></div><div class=\"ps2253 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Consistent with previous years, the Group considered the business plan, including the 2026 budget and</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps2254 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">2027-2028 strategic plans (drafted by the Group\u2019s companies in 2025 and approved by the Board of Directors of</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps2255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Davide Campari-Milano N.V.), as the basis of the annual impairment test. Moreover, cash flow projections are</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">extrapolated beyond the plan period covered to be adapted for a ten-year period, with growth rates gradually</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps2260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">normalising towards the level of the perpetuity growth rate. The use of a ten-year period is justified by the long</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps2261 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">lifecycle of the brands with respect to the reference markets, and it also takes into account the long ageing</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps2262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">process of certain brands. Assumptions of future cash flows were made based on the conservative approach, in</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">terms of both expected growth rates and operating margin trends. In addition, projections were based on</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">reasonableness, prudence and consistency regarding the allocation of future selling, general and administrative</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22680 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">expenses, trends in capital investment, conditions of financial equilibrium and the main macroeconomic</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">variables. Cash flow projections relate to current operating conditions and therefore do not include cash flows</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:312.19pt\">connected with extraordinary events that are not currently foreseeable.</span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Regarding climate-related matters, the business plan considered the necessary investments to pursue the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Group\u2019s global sustainability strategy, including the path to decarbonisation based on challenging and ambitious</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">medium- and long-term environmental targets committed. Such investments were taken into account also in</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:174.95pt\">long horizon (i.e., in the terminal value).</span><span class=\"f charStyle-58d8bcbe ps22681\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">Regarding currencies, it should be noted that the projections were determined based on the exchange rates to</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">\u20ac, assumed unchanged to the ones used for drafting the 2026 budget. Although applicable IFRS principles</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">require that exchange rates are assumed flat to the current fiscal year over the time horizon, the fluctuations of</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:417.74pt\">2026 budgeted currencies are estimated not to have a meaningful impact on future cash flows.</span></div><div class=\"ps15682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">Goodwill values were tested at the aggregate level based on the values allocated to the three cash\u2010generating</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps15683 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">units ('CGUs'), i.e., EMEA CGU, Americas CGU, and Asia-Pacific CGU, in line with the Group\u2019s geographical</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15684 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">segment reporting. This structure reflects the lowest level at which goodwill is monitored by the Group and is</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15685 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">considered appropriate, given the synergies and efficiencies obtained at regional level based on its current</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps15686 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:106.66pt\">organisational structure.</span></div><div class=\"ps15687 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The allocation of goodwill for each CGU is based on the previous allocation values, adjusted to consider the</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps15688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">exchange rate effects and other variations such as perimeter change. The carrying amounts of the CGUs were</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15689 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">determined by combining the goodwill, the brand values allocated based on the profitability achieved by the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps15690 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">brand in each CGU, as well as the fixed assets and working capital, which were mainly allocated based on the</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps15691 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">relevant sales achieved in each CGU. The recoverable amounts of the CGUs were determined based on the</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">\u2018value in use\u2019 methodology. The asset value is measured by discounting the estimated future cash flows</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps15693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">generated by the continued use of such asset. Expected cash flows, which were based on the Group\u2019s cash</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps15694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">flow estimates, were discounted using a post\u2010tax discount rate, reflecting both the time value of money and a</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps2088 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">further adjustment to include the market risk and the specific risks for the business of the relevant CGU. In the</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps15695 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">impairment test performed, it has been verified that the use of a post-tax approach provides consistent results</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps15696 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:350.57pt\">with the ones which would have been obtained by adopting a pre-tax approach.</span></div><div class=\"ps15697 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">The main assumptions used in calculating the value in use of the CGUs are the long-term growth rates and</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps15698 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">discount rates. Terminal value was determined using the perpetuity growth method of discounting. Specifically, a</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15699 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">conservative perpetual growth rate was used that corresponds to the estimated inflation rates of the consumer</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps15700 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">price for the period 2026\u20102030 for the Group\u2019s key markets (source: IMF, October 2025 release), assumed to be</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15701 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">2.2% for the EMEA CGU, 2.9% for the Americas CGU and 2.4% for the Asia-Pacific CGU or 2.5% for the Group</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps15702 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">overall. The value in use of the CGUs was calculated by discounting the estimated value of future cash flows,</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps15703 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">including the terminal value, which it is assumed will derive from the continuing use of the assets, at a discount</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17522 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">rate (net of taxes and adjusted for risk) that reflects the average weighted cost of capital. Specifically, the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22683 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">discount rate used was the Weighted Average Cost of Capital (\u2018WACC\u2019), which depends on the risk associated</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22684 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">with the estimated cash flows. The WACC was determined based on observable indicators and market</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps22685 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">parameters, the current value of money and the specific risks connected with the business of the relevant CGU.</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.59pt\"> </span></div><div class=\"ps22686 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">The calculation of WACC was in line with a set of spirits industry comparable peers. The discount rates used in</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22687 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">the 2025 impairment test for the three CGUs, are as follows: 7.0% for the EMEA CGU, 8.9% for the Americas</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps22688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">CGU and 6.6% for the Asia-Pacific CGU, or 7.8% for the Group overall (decreased by approximately 30 basis</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22690 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:213.29pt\">points compared with the 2024 impairment test).</span><span class=\"f charStyle-58d8bcbe ps22689\" style=\"width:2.77pt\"> </span></div><div class=\"ps22691 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">To take into account the current market volatility and uncertainty over future economic prospects, sensitivity</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17250 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">analyses were carried out to assess the recoverability of goodwill value. Based on the methodology described</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">above, the impairment test for goodwill as of 31 December 2025 confirmed the full recoverability, including</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">sensitivity, of all the CGUs with sufficient headroom to exclude goodwill impairment losses that may arise from</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps22694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:162.23pt\">meaningful business downside risks.</span></div><div class=\"ps22712 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:321.75pt\"></td><td style=\"padding:0;width:87pt\"></td><td style=\"padding:0;width:87pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ef;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22697 ss126\"><div><div class=\"ps2415 ss110\"><span class=\"f charStyle-40131897 ps22696\">at 31 December 2025</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22698 ss126\"><div><div class=\"ps2415 ss110\"><span class=\"f charStyle-183bdf94 ps22696\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">CGU<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22700 ss126\"><div><div class=\"ps485 ss110\"><span class=\"f charStyle-183bdf94 ps22699\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6467 ss126\"><div><div class=\"ps485 ss110\"><span class=\"f charStyle-183bdf94 ps22699\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22702 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22701\">1,299.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22703 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22701\">1,464.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">EMEA<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22705 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22704\">866.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22706 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22704\">885.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22708 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22707\">67.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22709 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22707\">70.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22710 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-ba8ac8da ps22701\">2,233.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22711 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-ba8ac8da ps22701\">2,420.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15282 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:125.18pt\">Changes in goodwill values </span><span class=\"f charStyle-58d8bcbe ps22713\" style=\"width:97.08pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22714\" style=\"width:71.5pt\"> compared with </span><span class=\"f charStyle-58d8bcbe ps22715\" style=\"width:85.66pt\">31 December 2024</span><span class=\"f charStyle-58d8bcbe ps22716\" style=\"width:116.79pt\"> , are primarily attributable<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22717 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">to exchange rate effects of \u20ac147.0 million, driven by the weakening of the US dollar against the Euro.</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.22pt\"> </span></div><div class=\"ps22718 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Additionally, there was a negative perimeter effect equal to \u20ac23.0 million in connection with the divestments of</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22719 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Cinzano and Frattina proportionally allocated to the three CGUs based on the brands\u2019 profitability, as well the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22720 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:184.39pt\">disposal of the Derrimut plant in Australia.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">In addition, a separate impairment test was conducted to measure the capability of each brand to sustain its</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1881 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">value using the value in use criteria. As the Group does not manage selling, general and administrative costs at</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">brand level, the brand\u2019s profitability is measured taking into consideration the allocated costs incurred on a</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">global scale and across geographies. For the brand valuation, the Group uses the Multi\u2010period Excess Earnings</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1885 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Method ('MEEM') valuation, a widely accepted valuation methodology in practice for determining the brands' fair</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1886 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">value. The \u2019value in use\u2019 methodology is considered valid, assuming that the identification of a representative</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps4460 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:411.97pt\">sample of comparable transactions is not easily available across the different types of assets.</span></div><div class=\"ps892 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">MEEM is an earnings\u2010based valuation method. The theoretical premise of the MEEM is that the value of a brand</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps4461 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">is equal to the current value of the residual cash flows attributable to the asset analysed. According to this</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps4471 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">method, the relevant earnings attributable to the intangible asset are calculated using the income that the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps4472 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">company would record after having deducted the earnings attributable to all the other assets (contributory asset</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps4475 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">charge), i.e. deducting from the company\u2019s results the remuneration for using other assets that contribute to the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1201 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">generation of such results. Estimates of income flows generated by individual brands, net of contributory asset</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps3963 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">charge, and of the terminal value, discounted to present value using an appropriate discount rate, were used to</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps3440 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:185pt\">calculate the recoverable value of brands.</span><span class=\"f charStyle-58d8bcbe ps22722\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Consistent with the impairment test on goodwill, a 10-year cash projection was developed for the brand</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps4482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">impairment test. In the case of The GlenGrant single malt Scotch whisky, a 15-year time horizon was adopted, in</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps4483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">line with previous years. The use of a fifteen-year time horizon is justified by the long-term effect of the brand</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">ageing strategy, a commonly implemented market practice for premium spirits players. The discount rates used</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps4489 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">for the individual brands tested varied from 7.9%% to 8.8% and took into account a specific risk premium for the</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1908 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">brand in question. To determine the terminal value of each brand, a perpetual growth rate between 2.3% and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps4491 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:337.15pt\">2.5%, in line with the inflation estimates for the 2026-2030 period, was used.</span><span class=\"f charStyle-58d8bcbe ps22723\" style=\"width:2.77pt\"> </span></div><div class=\"ps17269 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The impairment test as of 2025 has indicated impairment losses, for an aggregated amount of \u20ac67.4 million, for</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps17270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">the brands of Cabo Wabo, Forty Creek and Wilderness Trail Distillery. The losses reflect the persisting weak<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17271 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">performance of the brands, driven by challenging market, industry, and category dynamics, as well as Campari</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3141 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Group\u2019s strategic decision to focus on key priority brands. Such loss was mainly attributable to the Americas</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">CGU in line with the geographic distribution of brand profitability. Excluding the aforementioned brands, the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1952 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">sensitivity analyses indicated impairment risks for the brands of Grand Marnier, The GlenGrant, Bulldog, Picon,</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps8883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">and Courvoisier. Considering a theoretical increase of WACC by +100 bps and decrease of the growth rate (\u2018g\u2019)</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps17273 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">by -100 bps, the combined theoretical impairment risk for the above-mentioned brands, excluding the</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17274 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">impairment loss already registered for the year, would be \u20ac178.0 million. The Group will closely monitor the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps8842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:393.29pt\">future development of these brands and carefully assess the recoverability of their brand </span><span class=\"f charStyle-58d8bcbe ps22724\" style=\"width:28.9pt\">values</span><span class=\"f charStyle-58d8bcbe ps22725\" style=\"width:2.77pt\">.</span></div><div class=\"ps22759 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:327.75pt\"></td><td style=\"padding:0;width:84pt\"></td><td style=\"padding:0;width:84pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6554 ss1232\"><div><div class=\"ps485 ss1231\"><span class=\"f charStyle-183bdf94 ps3368\">at 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22726 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6550\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps18329 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6550\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22727 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6557\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18349 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6557\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Grand Marnier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22728 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">300.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22729 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">300.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Courvoisier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19601 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">189.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19603 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">189.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Wild Turkey<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19609 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">155.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19611 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">175.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Picon<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19618 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">123.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19620 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">123.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">The GlenGrant and Old Smuggler<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22730 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">88.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22731 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">88.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Jamaican Rum Portfolio<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22732 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">83.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22733 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">96.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Frangelico<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22734 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">54.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps13085 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">54.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Forty Creek<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22735 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">47.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22736 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">59.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Bulldog<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22737 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">26.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22738 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">27.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Cabo Wabo<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22739 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">17.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22740 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">46.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-40131897 ps132\">Averna</span><span class=\"f charStyle-85922b7e ps22741\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22742 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22743 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">53.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-40131897 ps132\">Braulio</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22744 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22745 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Riccadonna<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22747 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps22746\">11.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22748 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps22746\">11.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11650 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Del Professore<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22749 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22750 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness Trail<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22751 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">3.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22752 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">40.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11659 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-40131897 ps132\">X-Rated Fusion Liqueur</span><span class=\"f charStyle-85922b7e ps557\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22753 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22754 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11663 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22755 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">26.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22756 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11174 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22757 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">1,144.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22758 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">1,314.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22762 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:199.03pt\">The amount as at 31 December 2025 was reclassified as an ass</span><span class=\"f charStyle-40131897 ps22760\" style=\"width:84.34pt\">et held for sale during the y</span><span class=\"f charStyle-40131897 ps22761\" style=\"width:11.67pt\">ear.</span></div><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span>Asset with finite life. The brand value amortised over a timeframe of 10 years until 2025.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-503": {
   "value": "<div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps1483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:126.67pt\">Intangible assets recognition</span></div><div class=\"ps1534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Intangible assets with definite life are recorded at cost, net of accumulated amortisation and any impairment</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps4482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">losses. In the event they are acquired through business combinations, they are reported separately from</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps9922 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:483.3pt\">goodwill and brands, and measured at fair value, when this can reliably be measured, on the acquisition date.</span></div><div class=\"ps9923 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Intangible assets produced internally are not capitalised and are reported in the statement of profit or loss for the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9924 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">financial year in which they are incurred; there are no significant development costs to be considered. The costs</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">of innovation projects and studies are recorded in the income statement in full in the year in which they are</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps8834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:38.89pt\">incurred.<span class=\"f ps21\"> </span></span></div><div class=\"ps1834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Software represents the cost of purchasing assets and licences and, if incurred, external consultancy fees and</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">internal labour costs to prepare the technology so that it is capable of operating in the manner intended by</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps8836 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">management; there are normally no costs associated with development. These costs are recorded in the year in</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps2266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:399.93pt\">which the internal or external costs are incurred, to train personnel and other related costs.</span></div><div class=\"ps8837 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The following contracts are managed as a service contract with the related costs expensed as they are incurred:</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps2090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">cloud computing arrangements under which i) the Group contracts to pay a fee in exchange for a right to access</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">the supplier\u2019s application software for a specified term; ii) the cloud infrastructure is managed and controlled by</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.03pt\">the supplier, insofar as access to the software is on an \u2018as needed\u2019 basis over the internet or via a dedicated line</span><span class=\"f charStyle-2293a859 ps7894\" style=\"width:2.77pt\"> </span></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">and iii) the contract does not convey any rights over tangible assets to the Group. Any prepayment giving a right</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">to a future service is recognised as a prepaid asset. Detailed analysis is undertaken to determine whether the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:386.64pt\">implementation costs for software hosted under cloud arrangements can be capitalised.</span><span class=\"f charStyle-2293a859 ps22566\" style=\"width:2.77pt\"> </span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Intangible assets amortisation and impairment</span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">Intangible assets with a finite life are amortised on a straight-line basis in relation to their useful life and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">reviewed for impairment whenever events or circumstances indicate that the carrying amount may not be</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">recoverable. The amortisation period of intangible assets with a finite life is reviewed at least at the end of every</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">financial year in order to ascertain any changes in their useful life, which, if identified, will be treated as changes</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.09pt\">in estimates.</span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Other intangible assets with indefinite and definite life contain distribution rights and key money, the latter tested</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.24pt\">for impairment leveraging on a specialised third-party expert opinion connected to real estate assets.</span><span class=\"f charStyle-2293a859 ps22567\" style=\"width:3.45pt\"> </span><span class=\"f charStyle-2293a859 ps22568\" style=\"width:39.43pt\">Software</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:109.97pt\">amortisation rate is 20%.</span><span class=\"f charStyle-2293a859 ps22569\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps22570\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:224.93pt\">Intangible assets with indefinite life impairment test</span></div><div class=\"ps1227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Goodwill, brands and other intangible assets with an indefinite life are not amortised and are reviewed for</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impairment tests every year or more frequently if there is any indication that the asset may be impaired. The</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">annual approval of the impairment test results is performed by the Board of Directors of Davide Campari-Milano</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:480.15pt\">N.V., which takes place before the approval of the annual financial reports (consolidated and Company only).</span><span class=\"f charStyle-2293a859 ps22571\" style=\"width:2.77pt\"> </span></div><div class=\"ps1559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The ability to recover assets is ascertained by comparing the carrying amount to the related recoverable value,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:413.26pt\">which is represented by the higher of the fair value less cost of disposal, and the value in use.</span></div><div class=\"ps1561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">In the absence of a binding sale agreement, the fair value is estimated on the basis of recent transaction values</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">in an active market, or based on the best information available to determine the amount that could be obtained</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">from selling the asset. The value in use is determined by discounting expected cash flows resulting from the use</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">of the asset, and, if significant and reasonably determinable, the cash flows resulting from its sale at the end of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">its useful life. Cash flows are determined on the basis of reasonable, documented assumptions representing the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">best estimate of the future economic conditions that will occur during the remaining useful life of the asset, with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps9942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">greater weight given to external information. Growth rate assumptions are applied to the years beyond the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:479.75pt\">business plan horizon. The discount rate applied takes into account the implicit risk of the business segment.</span></div><div class=\"ps9944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">When it is not possible to determine the recoverable value of an individual asset, the Group estimates the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:323.32pt\">recoverable value of the cash-generating unit to which the asset belongs.</span></div><div class=\"ps9946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Impairment loss is recorded if the recoverable value of an asset is lower than its carrying amount by posting the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">related cost in the statement of profit or loss and is charged to other operating expenses. Goodwill impairments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:133.32pt\">can no longer be written back.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-502": {
   "value": "<div class=\"ps22565 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Intangible Assets<span id=\"i69097bed344a42b5872ff684a7b80746\"></span></span></div><div class=\"ps1483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps1484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:126.67pt\">Intangible assets recognition</span></div><div class=\"ps1534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Intangible assets with definite life are recorded at cost, net of accumulated amortisation and any impairment</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps4482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">losses. In the event they are acquired through business combinations, they are reported separately from</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps9922 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:483.3pt\">goodwill and brands, and measured at fair value, when this can reliably be measured, on the acquisition date.</span></div><div class=\"ps9923 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Intangible assets produced internally are not capitalised and are reported in the statement of profit or loss for the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9924 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">financial year in which they are incurred; there are no significant development costs to be considered. The costs</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">of innovation projects and studies are recorded in the income statement in full in the year in which they are</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps8834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:38.89pt\">incurred.<span class=\"f ps21\"> </span></span></div><div class=\"ps1834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Software represents the cost of purchasing assets and licences and, if incurred, external consultancy fees and</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8835 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">internal labour costs to prepare the technology so that it is capable of operating in the manner intended by</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps8836 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">management; there are normally no costs associated with development. These costs are recorded in the year in</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps2266 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:399.93pt\">which the internal or external costs are incurred, to train personnel and other related costs.</span></div><div class=\"ps8837 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The following contracts are managed as a service contract with the related costs expensed as they are incurred:</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps2090 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">cloud computing arrangements under which i) the Group contracts to pay a fee in exchange for a right to access</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">the supplier\u2019s application software for a specified term; ii) the cloud infrastructure is managed and controlled by</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.03pt\">the supplier, insofar as access to the software is on an \u2018as needed\u2019 basis over the internet or via a dedicated line</span><span class=\"f charStyle-2293a859 ps7894\" style=\"width:2.77pt\"> </span></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">and iii) the contract does not convey any rights over tangible assets to the Group. Any prepayment giving a right</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">to a future service is recognised as a prepaid asset. Detailed analysis is undertaken to determine whether the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:386.64pt\">implementation costs for software hosted under cloud arrangements can be capitalised.</span><span class=\"f charStyle-2293a859 ps22566\" style=\"width:2.77pt\"> </span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Intangible assets amortisation and impairment</span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">Intangible assets with a finite life are amortised on a straight-line basis in relation to their useful life and</span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">reviewed for impairment whenever events or circumstances indicate that the carrying amount may not be</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">recoverable. The amortisation period of intangible assets with a finite life is reviewed at least at the end of every</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">financial year in order to ascertain any changes in their useful life, which, if identified, will be treated as changes</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:56.09pt\">in estimates.</span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">Other intangible assets with indefinite and definite life contain distribution rights and key money, the latter tested</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.24pt\">for impairment leveraging on a specialised third-party expert opinion connected to real estate assets.</span><span class=\"f charStyle-2293a859 ps22567\" style=\"width:3.45pt\"> </span><span class=\"f charStyle-2293a859 ps22568\" style=\"width:39.43pt\">Software</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:109.97pt\">amortisation rate is 20%.</span><span class=\"f charStyle-2293a859 ps22569\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps22570\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:224.93pt\">Intangible assets with indefinite life impairment test</span></div><div class=\"ps1227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">Goodwill, brands and other intangible assets with an indefinite life are not amortised and are reviewed for</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">impairment tests every year or more frequently if there is any indication that the asset may be impaired. The</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">annual approval of the impairment test results is performed by the Board of Directors of Davide Campari-Milano</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:480.15pt\">N.V., which takes place before the approval of the annual financial reports (consolidated and Company only).</span><span class=\"f charStyle-2293a859 ps22571\" style=\"width:2.77pt\"> </span></div><div class=\"ps1559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The ability to recover assets is ascertained by comparing the carrying amount to the related recoverable value,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:413.26pt\">which is represented by the higher of the fair value less cost of disposal, and the value in use.</span></div><div class=\"ps1561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">In the absence of a binding sale agreement, the fair value is estimated on the basis of recent transaction values</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">in an active market, or based on the best information available to determine the amount that could be obtained</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">from selling the asset. The value in use is determined by discounting expected cash flows resulting from the use</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">of the asset, and, if significant and reasonably determinable, the cash flows resulting from its sale at the end of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">its useful life. Cash flows are determined on the basis of reasonable, documented assumptions representing the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9941 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">best estimate of the future economic conditions that will occur during the remaining useful life of the asset, with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps9942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">greater weight given to external information. Growth rate assumptions are applied to the years beyond the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps8875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:479.75pt\">business plan horizon. The discount rate applied takes into account the implicit risk of the business segment.</span></div><div class=\"ps9944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">When it is not possible to determine the recoverable value of an individual asset, the Group estimates the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9945 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:323.32pt\">recoverable value of the cash-generating unit to which the asset belongs.</span></div><div class=\"ps9946 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Impairment loss is recorded if the recoverable value of an asset is lower than its carrying amount by posting the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">related cost in the statement of profit or loss and is charged to other operating expenses. Goodwill impairments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:133.32pt\">can no longer be written back.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps22574 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:101.39pt\">Goodwill and Brands<span id=\"ie5c19969652249c1b0018fd4937c14cb\"></span></span><span class=\"f charStyle-562c451e ps22573\" style=\"width:3.05pt\"> </span></div><div class=\"ps22629 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:203.25pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22577 ss377\"><div><div class=\"ps979 ss37\"><span class=\"f charStyle-183bdf94 ps22576\">goodwill<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22579 ss377\"><div><div class=\"ps2776 ss37\"><span class=\"f charStyle-183bdf94 ps16215\">brands with an <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss37\"><span class=\"f charStyle-183bdf94 ps22578\">indefinite life</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10810 ss377\"><div><div class=\"ps2776 ss37\"><span class=\"f charStyle-183bdf94 ps22580\">brands with a finite <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss37\"><span class=\"f charStyle-183bdf94 ps22581\">life</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss377\"><div><div class=\"ps979 ss37\"><span class=\"f charStyle-183bdf94 ps22582\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22583 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22584 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22585 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22160 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22586 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">2,422.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22587 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">1,415.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22588 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">31.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22164 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">3,870.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Cumulative impairment at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22590 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22591 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(103.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22592 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(29.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22169 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(135.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22593 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">2,420.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22594 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">1,312.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22596 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22172 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">3,735.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Disposals<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22597 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(23.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22598 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(6.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22600 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22601 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(29.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Amortisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22602 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22603 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22604 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22605 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Impairment loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22606 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22607 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(67.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22608 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8789 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(67.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22609 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(145.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22610 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(46.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22611 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22612 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(192.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5271 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Reclassification as assets held for sale<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22613 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(18.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22614 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(47.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22615 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22616 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(66.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22617 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">2,233.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22618 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">1,144.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22619 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22620 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">3,377.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22621 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">2,236.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22622 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">1,315.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22623 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">31.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.25pt dotted #c0c0c0;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22624 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">3,582.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4652 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Cumulative impairment at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22625 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22626 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(170.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22627 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(31.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22628 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(204.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22631 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:203.25pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22577 ss377\"><div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22576\">goodwill<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22579 ss377\"><div><div class=\"ps1094 ss37\"><span class=\"f charStyle-183bdf94 ps16215\">brands with an <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22578\">indefinite life</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10810 ss377\"><div><div class=\"ps1094 ss37\"><span class=\"f charStyle-183bdf94 ps22580\">brands with a finite <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22581\">life</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss377\"><div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22582\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22583 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22584 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22585 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22160 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22586 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">1,853.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22587 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">1,204.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22588 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">31.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22164 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">3,089.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps490 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Cumulative impairment at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22590 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22591 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(52.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22592 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(27.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22169 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(82.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps498 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22593 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">1,850.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22594 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">1,151.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22596 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">4.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22172 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">3,006.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps505 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Perimeter effect from business combination<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22597 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">507.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22598 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">189.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22600 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22601 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">696.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Additions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22602 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22603 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">1.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22604 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22605 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">1.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Impairment loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22606 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22607 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(50.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22608 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8789 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(50.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Amortisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22609 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22610 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22611 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22612 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22613 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">61.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22614 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">20.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22615 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22616 ss48\"><div><div class=\"ps485 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">82.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22617 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">2,420.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22618 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">1,312.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22619 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22620 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6860\">3,735.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22621 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">2,422.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22622 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">1,415.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22623 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">31.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.25pt dotted #c0c0c0;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22624 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6860\">3,870.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4652 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Cumulative impairment at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22625 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22626 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(103.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22627 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(29.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22628 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(135.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22633 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">The changes during the period primarily concerned the negative exchange rate differences on goodwill and</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps22636 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:271.57pt\">brands denominated in local currencies, for a total of \u20ac</span><span class=\"f charStyle-58d8bcbe ps22634\" style=\"width:25.01pt\">192.3</span><span class=\"f charStyle-58d8bcbe ps22635\" style=\"width:199.65pt\"> million, which was mainly related to the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22639 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:267.21pt\">depreciation of the US$. Additionally, a total decrease of \u20ac</span><span class=\"f charStyle-58d8bcbe ps22637\" style=\"width:19.45pt\">29.2</span><span class=\"f charStyle-58d8bcbe ps22638\" style=\"width:209.46pt\"> million, relating to the disposal of the bottling</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22640 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">manufacturing facility in Australia and the Cinzano and Frattina business. The allocation of goodwill and brands</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22641 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">to the disposal group for the Averna and Zedda Piras businesses was recognised in 2025 for a total amount of</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps22643 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:58.88pt\">\u20ac66.2 million.</span><span class=\"f charStyle-58d8bcbe ps22642\" style=\"width:2.77pt\"> </span></div><div class=\"ps22644 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Intangible assets with an indefinite life are represented by goodwill and brands, both associated with business</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17205 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">acquisitions. The Group expects to obtain positive cash flow from these assets for an indefinite period of time.</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22645 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Given the current environment marked by ongoing volatility and exposure to downside risks, including potentially</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22646 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">weak business sentiment and muted growth expectations also connected with the evolving United States import</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22647 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">tariffs introduced under the Trump Administration, the Group performed an impairment trigger assessment on</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps22649 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:342.42pt\">goodwill and brands. This assessment confirmed that an impairment loss of \u20ac</span><span class=\"f charStyle-58d8bcbe ps22648\" style=\"width:19.45pt\">67.4</span><span class=\"f charStyle-58d8bcbe ps15454\" style=\"width:134.33pt\"> million was recognised on the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22650 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">brands of Cabo Wabo, Forty Creek and Wilderness Trail Distillery (refer to paragraph 'Impairment test' for further</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22652 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:424.92pt\">details), while these events did not result in any material change in the recoverability of goodwill.</span><span class=\"f charStyle-58d8bcbe ps22651\" style=\"width:2.77pt\"> </span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:113.61pt\">Other Intangible Assets<span id=\"id4092aac99824ad7b8aeb794c898a248\"></span></span></div><div class=\"ps21052 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:203.25pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22577 ss377\"><div><div class=\"ps979 ss37\"><span class=\"f charStyle-183bdf94 ps20986\">software<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22579 ss377\"><div><div class=\"ps979 ss37\"><span class=\"f charStyle-183bdf94 ps22668\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10810 ss377\"><div><div class=\"ps2776 ss37\"><span class=\"f charStyle-183bdf94 ps22669\">other with indefinite <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss37\"><span class=\"f charStyle-183bdf94 ps22581\">life<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss377\"><div><div class=\"ps979 ss37\"><span class=\"f charStyle-183bdf94 ps22582\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22583 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22584 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22585 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22160 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22586 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">201.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22587 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">20.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22588 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22164 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">225.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated amortisation at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22590 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(136.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22591 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(15.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22592 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22169 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(151.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22593 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">65.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22594 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">4.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22596 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22172 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">73.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Additions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22597 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">37.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22598 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22600 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22601 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">37.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Amortisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22602 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(19.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22603 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22604 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22605 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(20.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Impairment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22606 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22607 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(1.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22608 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8789 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22609 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22610 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22611 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22612 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(2.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22613 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">83.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22614 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22615 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22616 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">87.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22617 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">199.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22618 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">6.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22619 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22620 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">209.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated amortisation at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22621 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22670\">(116.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22622 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(5.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22623 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22624 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(122.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22672 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss23 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:203.25pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22577 ss377\"><div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps20986\">software<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22579 ss377\"><div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22668\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10810 ss377\"><div><div class=\"ps1094 ss37\"><span class=\"f charStyle-183bdf94 ps22669\">other with indefinite <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22581\">life<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8761 ss377\"><div><div class=\"ps473 ss37\"><span class=\"f charStyle-183bdf94 ps22582\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22583 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22584 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22585 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22160 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6843\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22586 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">170.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22587 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">18.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22588 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22164 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">191.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated amortisation at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22590 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(121.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22591 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(14.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22592 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22169 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(135.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22593 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">49.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22594 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22596 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22172 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">56.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Additions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22597 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">33.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22598 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22600 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22601 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">35.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Amortisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22602 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(16.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22603 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(0.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22604 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22605 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(17.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Impairment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22606 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22607 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22608 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8789 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22609 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22610 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22589\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22611 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22612 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22613 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">65.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22614 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">4.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22615 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22616 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-ba8ac8da ps6873\">73.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Carrying amount at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22617 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">201.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22618 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6873\">20.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22619 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22595\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22620 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6851\">225.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1686\"><div><div class=\"ps476 ss1685\"><span class=\"f charStyle-183bdf94 ps132\">Accumulated amortisation at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22621 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(136.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22622 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps7312\">(15.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22623 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps22599\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22624 ss48\"><div><div class=\"ps476 ss37\"><span class=\"f charStyle-183bdf94 ps6886\">(151.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:489.91pt\">Intangible assets with a finite life are amortised on a straight-line basis depending on their remaining useful life.</span><span class=\"f charStyle-58d8bcbe ps22673\" style=\"width:2.77pt\"> </span></div><div class=\"ps9930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">In 2024, Campari Group initiated a major investment programme designed to underpin the Group\u2019s strategic</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">agenda through an integrated transformation of its digital capabilities. The programme strengthens data</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">connectivity and structural processes to generate actionable insights and deliver superior business outcomes.</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">By advancing these capabilities, the project is expected to unlock new avenues of growth, profitability and</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">productivity. Key benefits include enhanced forecast precision, more informed decision\u2011making and an improved</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">end\u2011user experience. The initiative also future\u2011proofs the Group by aligning it with industry developments,</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">enabling next\u2011generation integrated planning, supported by connected planning systems, external data and</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">other digital tools for which internal usage guidelines have already been implemented. The additions in the year</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:427.55pt\">supporting the Information technology environment, including ordinary investments, totalled \u20ac</span><span class=\"f charStyle-58d8bcbe ps22674\" style=\"width:19.45pt\">37.8</span><span class=\"f charStyle-58d8bcbe ps22675\" style=\"width:49.19pt\"> million (of</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:383.84pt\">which \u20ac15.2 million related to cybersecurity and an integrated transformation program).</span><span class=\"f charStyle-58d8bcbe ps22676\" style=\"width:2.77pt\"> </span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:392.74pt\">During the period, no triggering events leading to an eventual impairment were identified.</span></div><div class=\"ps22678 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:54.96pt\">Impairment<span id=\"i43f18b7eddc347e4aac05e7f23d934b8\"></span></span><span class=\"f charStyle-562c451e ps6931\" style=\"width:20.76pt\"> test</span><span class=\"f charStyle-562c451e ps22677\" style=\"width:3.05pt\"> </span></div><div class=\"ps48 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">In line with prior years, the approval of the Group\u2019s annual assessment of the recoverability of intangible assets</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps49 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">with an indefinite useful life was completed prior to the 2025 year\u2011end. Accordingly, the carrying amount of such</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps50 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">intangible assets, i.e., the amount at which the assets are recognised in the Group\u2019s Consolidated Statement of</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps51 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Financial Position, was determined as at 30 September 2025, representing the most recent actual data available</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps2248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">at the time of the assessment. The outcomes of the impairment tests remained valid as at 31 December 2025,</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps2250 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">as no events or indicators of impairment arose during the fourth quarter of 2025 that would suggest a material</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps2252 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:359.4pt\">reduction in either the carrying amounts or the recoverable amounts of the assets</span><span class=\"f charStyle-58d8bcbe ps22679\" style=\"width:2.77pt\">.</span></div><div class=\"ps2253 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Consistent with previous years, the Group considered the business plan, including the 2026 budget and</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps2254 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">2027-2028 strategic plans (drafted by the Group\u2019s companies in 2025 and approved by the Board of Directors of</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps2255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Davide Campari-Milano N.V.), as the basis of the annual impairment test. Moreover, cash flow projections are</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">extrapolated beyond the plan period covered to be adapted for a ten-year period, with growth rates gradually</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps2260 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">normalising towards the level of the perpetuity growth rate. The use of a ten-year period is justified by the long</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps2261 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">lifecycle of the brands with respect to the reference markets, and it also takes into account the long ageing</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps2262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">process of certain brands. Assumptions of future cash flows were made based on the conservative approach, in</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1875 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">terms of both expected growth rates and operating margin trends. In addition, projections were based on</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">reasonableness, prudence and consistency regarding the allocation of future selling, general and administrative</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22680 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">expenses, trends in capital investment, conditions of financial equilibrium and the main macroeconomic</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">variables. Cash flow projections relate to current operating conditions and therefore do not include cash flows</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:312.19pt\">connected with extraordinary events that are not currently foreseeable.</span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Regarding climate-related matters, the business plan considered the necessary investments to pursue the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Group\u2019s global sustainability strategy, including the path to decarbonisation based on challenging and ambitious</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">medium- and long-term environmental targets committed. Such investments were taken into account also in</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:174.95pt\">long horizon (i.e., in the terminal value).</span><span class=\"f charStyle-58d8bcbe ps22681\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">Regarding currencies, it should be noted that the projections were determined based on the exchange rates to</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">\u20ac, assumed unchanged to the ones used for drafting the 2026 budget. Although applicable IFRS principles</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">require that exchange rates are assumed flat to the current fiscal year over the time horizon, the fluctuations of</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:417.74pt\">2026 budgeted currencies are estimated not to have a meaningful impact on future cash flows.</span></div><div class=\"ps15682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">Goodwill values were tested at the aggregate level based on the values allocated to the three cash\u2010generating</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps15683 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">units ('CGUs'), i.e., EMEA CGU, Americas CGU, and Asia-Pacific CGU, in line with the Group\u2019s geographical</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15684 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">segment reporting. This structure reflects the lowest level at which goodwill is monitored by the Group and is</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15685 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">considered appropriate, given the synergies and efficiencies obtained at regional level based on its current</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps15686 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:106.66pt\">organisational structure.</span></div><div class=\"ps15687 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The allocation of goodwill for each CGU is based on the previous allocation values, adjusted to consider the</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps15688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">exchange rate effects and other variations such as perimeter change. The carrying amounts of the CGUs were</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15689 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">determined by combining the goodwill, the brand values allocated based on the profitability achieved by the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps15690 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">brand in each CGU, as well as the fixed assets and working capital, which were mainly allocated based on the</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps15691 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">relevant sales achieved in each CGU. The recoverable amounts of the CGUs were determined based on the</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">\u2018value in use\u2019 methodology. The asset value is measured by discounting the estimated future cash flows</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps15693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">generated by the continued use of such asset. Expected cash flows, which were based on the Group\u2019s cash</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps15694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">flow estimates, were discounted using a post\u2010tax discount rate, reflecting both the time value of money and a</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps2088 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.05pt\">further adjustment to include the market risk and the specific risks for the business of the relevant CGU. In the</span><span class=\"f charStyle-58d8bcbe ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps15695 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">impairment test performed, it has been verified that the use of a post-tax approach provides consistent results</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps15696 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:350.57pt\">with the ones which would have been obtained by adopting a pre-tax approach.</span></div><div class=\"ps15697 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">The main assumptions used in calculating the value in use of the CGUs are the long-term growth rates and</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps15698 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">discount rates. Terminal value was determined using the perpetuity growth method of discounting. Specifically, a</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15699 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">conservative perpetual growth rate was used that corresponds to the estimated inflation rates of the consumer</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps15700 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">price for the period 2026\u20102030 for the Group\u2019s key markets (source: IMF, October 2025 release), assumed to be</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15701 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">2.2% for the EMEA CGU, 2.9% for the Americas CGU and 2.4% for the Asia-Pacific CGU or 2.5% for the Group</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps15702 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">overall. The value in use of the CGUs was calculated by discounting the estimated value of future cash flows,</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps15703 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">including the terminal value, which it is assumed will derive from the continuing use of the assets, at a discount</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17522 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">rate (net of taxes and adjusted for risk) that reflects the average weighted cost of capital. Specifically, the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22683 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">discount rate used was the Weighted Average Cost of Capital (\u2018WACC\u2019), which depends on the risk associated</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22684 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">with the estimated cash flows. The WACC was determined based on observable indicators and market</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps22685 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">parameters, the current value of money and the specific risks connected with the business of the relevant CGU.</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.59pt\"> </span></div><div class=\"ps22686 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">The calculation of WACC was in line with a set of spirits industry comparable peers. The discount rates used in</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22687 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">the 2025 impairment test for the three CGUs, are as follows: 7.0% for the EMEA CGU, 8.9% for the Americas</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps22688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">CGU and 6.6% for the Asia-Pacific CGU, or 7.8% for the Group overall (decreased by approximately 30 basis</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22690 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:213.29pt\">points compared with the 2024 impairment test).</span><span class=\"f charStyle-58d8bcbe ps22689\" style=\"width:2.77pt\"> </span></div><div class=\"ps22691 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">To take into account the current market volatility and uncertainty over future economic prospects, sensitivity</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17250 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">analyses were carried out to assess the recoverability of goodwill value. Based on the methodology described</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">above, the impairment test for goodwill as of 31 December 2025 confirmed the full recoverability, including</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">sensitivity, of all the CGUs with sufficient headroom to exclude goodwill impairment losses that may arise from</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps22694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:162.23pt\">meaningful business downside risks.</span></div><div class=\"ps22712 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:321.75pt\"></td><td style=\"padding:0;width:87pt\"></td><td style=\"padding:0;width:87pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ef;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22697 ss126\"><div><div class=\"ps2415 ss110\"><span class=\"f charStyle-40131897 ps22696\">at 31 December 2025</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22698 ss126\"><div><div class=\"ps2415 ss110\"><span class=\"f charStyle-183bdf94 ps22696\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">CGU<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22700 ss126\"><div><div class=\"ps485 ss110\"><span class=\"f charStyle-183bdf94 ps22699\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6467 ss126\"><div><div class=\"ps485 ss110\"><span class=\"f charStyle-183bdf94 ps22699\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22702 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22701\">1,299.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22703 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22701\">1,464.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">EMEA<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22705 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22704\">866.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22706 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22704\">885.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-183bdf94 ps132\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22708 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22707\">67.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22709 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps22707\">70.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1735\"><div><div class=\"ps485 ss1734\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22710 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-ba8ac8da ps22701\">2,233.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22711 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-ba8ac8da ps22701\">2,420.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15282 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:125.18pt\">Changes in goodwill values </span><span class=\"f charStyle-58d8bcbe ps22713\" style=\"width:97.08pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22714\" style=\"width:71.5pt\"> compared with </span><span class=\"f charStyle-58d8bcbe ps22715\" style=\"width:85.66pt\">31 December 2024</span><span class=\"f charStyle-58d8bcbe ps22716\" style=\"width:116.79pt\"> , are primarily attributable<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22717 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">to exchange rate effects of \u20ac147.0 million, driven by the weakening of the US dollar against the Euro.</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.22pt\"> </span></div><div class=\"ps22718 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Additionally, there was a negative perimeter effect equal to \u20ac23.0 million in connection with the divestments of</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22719 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Cinzano and Frattina proportionally allocated to the three CGUs based on the brands\u2019 profitability, as well the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22720 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:184.39pt\">disposal of the Derrimut plant in Australia.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">In addition, a separate impairment test was conducted to measure the capability of each brand to sustain its</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1881 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">value using the value in use criteria. As the Group does not manage selling, general and administrative costs at</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">brand level, the brand\u2019s profitability is measured taking into consideration the allocated costs incurred on a</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">global scale and across geographies. For the brand valuation, the Group uses the Multi\u2010period Excess Earnings</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1885 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Method ('MEEM') valuation, a widely accepted valuation methodology in practice for determining the brands' fair</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1886 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">value. The \u2019value in use\u2019 methodology is considered valid, assuming that the identification of a representative</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps4460 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:411.97pt\">sample of comparable transactions is not easily available across the different types of assets.</span></div><div class=\"ps892 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">MEEM is an earnings\u2010based valuation method. The theoretical premise of the MEEM is that the value of a brand</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps4461 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">is equal to the current value of the residual cash flows attributable to the asset analysed. According to this</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps4471 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">method, the relevant earnings attributable to the intangible asset are calculated using the income that the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps4472 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">company would record after having deducted the earnings attributable to all the other assets (contributory asset</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps4475 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">charge), i.e. deducting from the company\u2019s results the remuneration for using other assets that contribute to the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1201 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">generation of such results. Estimates of income flows generated by individual brands, net of contributory asset</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps3963 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">charge, and of the terminal value, discounted to present value using an appropriate discount rate, were used to</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps3440 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:185pt\">calculate the recoverable value of brands.</span><span class=\"f charStyle-58d8bcbe ps22722\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Consistent with the impairment test on goodwill, a 10-year cash projection was developed for the brand</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps4482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">impairment test. In the case of The GlenGrant single malt Scotch whisky, a 15-year time horizon was adopted, in</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps4483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">line with previous years. The use of a fifteen-year time horizon is justified by the long-term effect of the brand</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">ageing strategy, a commonly implemented market practice for premium spirits players. The discount rates used</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps4489 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">for the individual brands tested varied from 7.9%% to 8.8% and took into account a specific risk premium for the</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1908 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">brand in question. To determine the terminal value of each brand, a perpetual growth rate between 2.3% and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps4491 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:337.15pt\">2.5%, in line with the inflation estimates for the 2026-2030 period, was used.</span><span class=\"f charStyle-58d8bcbe ps22723\" style=\"width:2.77pt\"> </span></div><div class=\"ps17269 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The impairment test as of 2025 has indicated impairment losses, for an aggregated amount of \u20ac67.4 million, for</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps17270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">the brands of Cabo Wabo, Forty Creek and Wilderness Trail Distillery. The losses reflect the persisting weak<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17271 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">performance of the brands, driven by challenging market, industry, and category dynamics, as well as Campari</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3141 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Group\u2019s strategic decision to focus on key priority brands. Such loss was mainly attributable to the Americas</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps17272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">CGU in line with the geographic distribution of brand profitability. Excluding the aforementioned brands, the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1952 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">sensitivity analyses indicated impairment risks for the brands of Grand Marnier, The GlenGrant, Bulldog, Picon,</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps8883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">and Courvoisier. Considering a theoretical increase of WACC by +100 bps and decrease of the growth rate (\u2018g\u2019)</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps17273 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">by -100 bps, the combined theoretical impairment risk for the above-mentioned brands, excluding the</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17274 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">impairment loss already registered for the year, would be \u20ac178.0 million. The Group will closely monitor the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps8842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:393.29pt\">future development of these brands and carefully assess the recoverability of their brand </span><span class=\"f charStyle-58d8bcbe ps22724\" style=\"width:28.9pt\">values</span><span class=\"f charStyle-58d8bcbe ps22725\" style=\"width:2.77pt\">.</span></div><div class=\"ps22759 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:327.75pt\"></td><td style=\"padding:0;width:84pt\"></td><td style=\"padding:0;width:84pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6554 ss1232\"><div><div class=\"ps485 ss1231\"><span class=\"f charStyle-183bdf94 ps3368\">at 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22726 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6550\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps18329 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps6550\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22727 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6557\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18349 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6557\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Grand Marnier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22728 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">300.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22729 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">300.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Courvoisier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19601 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">189.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19603 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">189.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Wild Turkey<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19609 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">155.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19611 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">175.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Picon<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps19618 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">123.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19620 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">123.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">The GlenGrant and Old Smuggler<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22730 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">88.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22731 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">88.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Jamaican Rum Portfolio<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22732 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">83.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22733 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">96.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Frangelico<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22734 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">54.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps13085 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">54.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Forty Creek<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22735 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">47.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22736 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">59.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Bulldog<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22737 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">26.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22738 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">27.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Cabo Wabo<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22739 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">17.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22740 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">46.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-40131897 ps132\">Averna</span><span class=\"f charStyle-85922b7e ps22741\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22742 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22743 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">53.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-40131897 ps132\">Braulio</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22744 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22745 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Riccadonna<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22747 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps22746\">11.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22748 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps22746\">11.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11650 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Del Professore<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22749 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22750 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness Trail<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22751 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">3.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22752 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">40.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11659 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-40131897 ps132\">X-Rated Fusion Liqueur</span><span class=\"f charStyle-85922b7e ps557\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22753 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6563\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22754 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11663 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22755 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">26.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22756 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6568\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11174 ss1737\"><div><div class=\"ps476 ss1736\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22757 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">1,144.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22758 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-ba8ac8da ps6561\">1,314.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22762 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:199.03pt\">The amount as at 31 December 2025 was reclassified as an ass</span><span class=\"f charStyle-40131897 ps22760\" style=\"width:84.34pt\">et held for sale during the y</span><span class=\"f charStyle-40131897 ps22761\" style=\"width:11.67pt\">ear.</span></div><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span>Asset with finite life. The brand value amortised over a timeframe of 10 years until 2025.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-508": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Other Non-Current Assets<span id=\"i89d0d697133342faa349ccf8ec3f78a4\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps22776 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Equity investment in other companies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">9.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current receivables from controlling shareholder<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">36.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">98.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22777 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Equity investment in other companies included a 15.4% minority stake in Capevin Holdings Proprietary Limited,</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22778 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">a South African holding company which indirectly owns 100% of CVH Spirits Limited, a Scottish company</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps22779 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">operating in the production and commercialisation of renowned Single Malt Whiskies Bunnahabhain, Deanston,</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.59pt\"> </span></div><div class=\"ps22780 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Tobermory and Ledaig, and Blended Whiskies Scottish Leader and Black Bottle.The investment was decreased</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22781 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">by \u20ac59.4 million in connection with performance suffering the macroeconomic momentum, with the result</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22783 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:391.53pt\">recognised in the share of profit (loss) from other investments, in profit or loss statement.</span><span class=\"f charStyle-3adfeb48 ps22782\" style=\"width:16.62pt\">\u00a0 \u00a0 \u00a0 </span></div><div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets also include investments in companies that are not held for trading. These assets are strategic</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">investments, and the Group has decided to recognise changes in the related fair values through profit or loss</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:44.4pt\">(\u2018FVTPL\u2019).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-507": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Other Non-Current Assets<span id=\"i89d0d697133342faa349ccf8ec3f78a4\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps22776 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Equity investment in other companies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">9.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current receivables from controlling shareholder<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">36.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">98.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22777 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Equity investment in other companies included a 15.4% minority stake in Capevin Holdings Proprietary Limited,</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps22778 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">a South African holding company which indirectly owns 100% of CVH Spirits Limited, a Scottish company</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps22779 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">operating in the production and commercialisation of renowned Single Malt Whiskies Bunnahabhain, Deanston,</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.59pt\"> </span></div><div class=\"ps22780 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Tobermory and Ledaig, and Blended Whiskies Scottish Leader and Black Bottle.The investment was decreased</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22781 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">by \u20ac59.4 million in connection with performance suffering the macroeconomic momentum, with the result</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22783 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:391.53pt\">recognised in the share of profit (loss) from other investments, in profit or loss statement.</span><span class=\"f charStyle-3adfeb48 ps22782\" style=\"width:16.62pt\">\u00a0 \u00a0 \u00a0 </span></div><div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets also include investments in companies that are not held for trading. These assets are strategic</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">investments, and the Group has decided to recognise changes in the related fair values through profit or loss</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:44.4pt\">(\u2018FVTPL\u2019).</span></div><div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:205.01pt\">Financial derivatives and hedging transactions</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Financial derivatives embedded in contracts in which the primary element is a financial asset that falls within the</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">scope of IFRS 9 are not treated separately. The hybrid instrument is instead examined as a whole for</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.85pt\">classification in the statement of financial position and subsequent measurement.</span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Financial derivatives are used exclusively for hedging purposes to reduce exchange and interest rate risk. They</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">are only accounted for by applying the methods established for hedge accounting (fair value hedge or cash flow</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">hedge) if, at the start of the hedging period, the hedging relationship has been designated. It is assumed that the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">hedge is highly effective: this effectiveness must be reliably measured during the accounting periods for which it</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:286.62pt\">is designated. All financial derivatives are measured at fair value.</span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Where financial instruments meet the requirements to be reported using hedge accounting procedures, the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.08pt\">accounting treatment related to fair value hedge or cash flow hedge is applied.<span class=\"f ps21\"> </span></span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">If hedge accounting cannot be applied, any gains or losses resulting from measuring the financial derivative at</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:268.24pt\">its present value are posted to the statement of profit or loss.</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The Group is exposed to certain risks related to its ongoing business operations. The primary risks managed</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:329.93pt\">using derivative instruments are foreign currency risk and interest rate risk.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Derivatives are designated as hedging instruments in the form of i) foreign exchange forward and option</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">contracts, elected as cash flow hedges to hedge highly probable forecast sales and purchases in different</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">currencies compared to \u20ac and, ii) interest-rate swap contracts to mitigate the risk associated with variable</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:378.85pt\">interest rate changes on loan and bond agreements not issued at a fixed interest rate.</span><span class=\"f charStyle-2293a859 ps23223\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The Group also uses derivatives not designated as hedging instruments to reflect the change in fair value of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">foreign exchange rates of forward and option contracts that are not elected in hedge relationships, but are,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:443.86pt\">nevertheless, intended to reduce the level of foreign currency risk for expected sales and purchases.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">For Campari Group, net exposure to foreign exchange effects is limited to highly probable intra-group</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">transactions among Group companies relating to certain sales and purchases, regulated in currencies other</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:19.45pt\">than</span><span class=\"f charStyle-58d8bcbe ps23224\" style=\"width:4.3pt\"> </span><span class=\"f charStyle-2293a859 ps23225\" style=\"width:472.48pt\">the functional currencies of the companies. Although these transactions represent only a portion of the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">overall business, the Group determines the net exposure to the primary currencies (US$, GBP, AUD) based on</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">its predicted intercompany sales and purchases up to 18 months. Moreover, the Group determines the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">existence of an economic relationship between the hedging instrument and hedged item based on the currency,</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">amount and timing of their respective cash flows. The Group\u2019s reference is the budget exposure split by</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">currencies and, as effectively as possible, any under/over exposure which may arise through plain vanilla</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">currency derivatives. The derivative covers the period of exposure from the point the cash flows of the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">transactions forecasted up to the point of settlement of the resulting receivable or payable that is denominated in</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">the foreign currency. Derivative contracts aiming to mitigate currency exchange risks are dynamically and</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">qualitatively managed based on business needs and specific contexts and circumstances. These are not framed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">within fixed or quantitative policies regarding the percentage of coverage to be achieved. To avoid excessive</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">coverage, the budget for future transactions is typically hedged at a level between 50% and 90% throughout the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.45pt\">whole year. In the hedge relationships the main sources of ineffectiveness are:</span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:215.35pt\">interest rate differentials between currencies and</span><span class=\"f charStyle-2293a859 ps23226\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.04pt\">discrepancies between invoices issued and hedging contracts (i.e., changes in the timing of the hedge</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.99pt\">transaction).</span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Regarding derivative contracts intended to hedge interest rate exposures, they are namely connected with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">financing and there is no established quantitative policy concerning the optimal level of exposure to fixed or<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">variable rates: the Group manages its interest rate risk by having a balanced portfolio of fixed and variable rate</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">loans and borrowings. The preferred exposure to fixed or variable rates is dynamically managed centrally within</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">the Group, considering current and future market conditions, the Group's level of indebtedness, business</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">performance and in the context of the Group's expansion initiatives. The Group determines the existence of an</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">economic relationship between the hedging instrument and hedged item based on the reference interest rates,</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">tenors, repricing dates and maturities and the notional or par amount.</span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps20060\" style=\"width:72.02pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 </span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:92.79pt\">Financial guarantees</span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">The Group recognises financial guarantees as a financial liability if the likelihood of these guarantees being</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">called is assessed not to be remote and the Group is expected to be liable for any legal obligation in respect of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">these financial guarantee agreements. Financial guarantee contract liabilities are measured initially at their fair</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">value, with subsequent remeasurement impacting profit or loss. They are represented as a long- or short-term</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">financial liability, depending on the time of the expected execution of the guarantees. If the likelihood of these</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">guarantees being called is assessed to be remote, they are treated as commitments with disclosure</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">requirements only. This occurs when they are represented as other forms of security in favour of third parties,</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:361.64pt\">such as customs guarantees for excise duties and guarantees to grant credit lines</span><span class=\"f charStyle-2293a859 ps20057\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-2293a859 ps23227\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps23228\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps23229\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps23230\" style=\"width:49.86pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 </span></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:379.42pt\">The value of individual categories of financial assets and liabilities held by the Group </span><span class=\"f charStyle-58d8bcbe ps22716\" style=\"width:96.96pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps23231\" style=\"width:3.05pt\"> </span><span class=\"f charStyle-58d8bcbe ps23232\" style=\"width:16.68pt\">and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:96.12pt\">at 31 December 2024</span><span class=\"f charStyle-58d8bcbe ps23233\" style=\"width:137.74pt\"> is shown in the following table.</span></div><div class=\"ps8644 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:233.25pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:78pt\"></td></tr><tr style=\"height:16.5pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1754\"><div><div class=\"ps2415 ss1753\"><span class=\"f charStyle-23317bb7 ps132\"><span style=\"background-color:inherit\">at 31 December 2025</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23234 ss1755\"><div><div class=\"ps11743 ss112\"><span class=\"f charStyle-183bdf94 ps16068\">carrying amount<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5024 ss1756\"><div><div class=\"ps2415 ss112\"><span class=\"f charStyle-183bdf94 ps18013\">measurement at <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss112\"><span class=\"f charStyle-183bdf94 ps23235\">amortised cost</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23238 ss1416\"><div><div class=\"ps2415 ss465\"><span class=\"f charStyle-183bdf94 ps23236\">measurement at <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss465\"><span class=\"f charStyle-183bdf94 ps23237\">fair value through </span></div><div class=\"ps2419 ss465\"><span class=\"f charStyle-183bdf94 ps6368\">profit and loss</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8424 ss1757\"><div><div class=\"ps2415 ss498\"><span class=\"f charStyle-183bdf94 ps23239\">measurement at fair <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss498\"><span class=\"f charStyle-183bdf94 ps23240\">value with changes </span></div><div class=\"ps2419 ss498\"><span class=\"f charStyle-183bdf94 ps23241\">recognised in the </span></div><div class=\"ps2420 ss498\"><span class=\"f charStyle-183bdf94 ps23242\">statement of </span></div><div class=\"ps2421 ss498\"><span class=\"f charStyle-183bdf94 ps19580\">comprehensive income</span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23244 ss1758\"><div><div class=\"ps23243 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4232 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Cash and cash equivalents<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23245 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">703.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23246 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">703.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23247 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23248 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4248 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Other current financial assets</span><span class=\"f charStyle-85922b7e ps23249\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23250 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">13.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23251 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">13.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23252 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23253 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4395 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23254 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">21.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23255 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">21.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23256 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23257 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4412 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23258 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(71.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23259 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(71.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23260 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23261 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11863 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Loans due to banks</span><span class=\"f charStyle-85922b7e ps23262\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23263 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(899.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23264 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(899.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23265 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23266 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8706 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Bonds</span><span class=\"f charStyle-85922b7e ps23267\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23269 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps23268\">(1,589.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23270 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps23268\">(1,589.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23271 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23272 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps2982 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Accrued interest on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23273 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(21.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23274 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(21.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23275 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23276 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11881 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Other current financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23277 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(25.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23278 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(25.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23279 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23280 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11887 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Liabilities for put option and earn-out payments</span><span class=\"f charStyle-85922b7e ps23281\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23282 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(89.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23283 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21501\">(3.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps23285 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps23284\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps23287 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps23286\">(86.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps5141 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Non-current and current assets for hedging derivatives</span><span class=\"f charStyle-85922b7e ps23288\"><span class=\"f ps21\"> </span><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23289 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21496\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps5146 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps15308\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23291 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps23290\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23292 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps20711\">1,6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps3367 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-b442976f ps23293\">Current assets for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23295 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps14502\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23297 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23299 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23298\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23301 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps23300\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5601 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-b442976f ps23302\">Current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23303 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps14502\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23304 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23306 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23305\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23307 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps5763\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps8376 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-22ddbc25 ps23308\">Non-current asset for hedging derivatives</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23309 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps14502\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23310 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23311 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23305\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23312 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps5763\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8387 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Non-current and current liabilities for hedging derivatives</span><span class=\"f charStyle-85922b7e ps23313\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23314 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21501\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23315 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps15308\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23316 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps23284\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23318 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps23317\">(1.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps8398 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-b442976f ps3373\">Current liabilities for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23320 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23319\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23321 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23323 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23322\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23324 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps23300\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8409 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-b442976f ps23325\">Current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23326 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23319\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23327 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23328 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23305\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23329 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps22176\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23331 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-b442976f ps23330\">Non-current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23332 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23319\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23333 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23334 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23305\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23335 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps22176\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps2549 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23336 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">36.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23337 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21496\">9.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23338 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps16258\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23339 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps23340 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Trade receivables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23341 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">327.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23342 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">327.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23343 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23344 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5645 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Trade payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23345 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(714.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23346 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(714.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23347 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23348 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9503 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23349 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-ba8ac8da ps23268\">(2,309.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23350 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-ba8ac8da ps23268\">(2,250.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23351 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-ba8ac8da ps16258\">26.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23352 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-ba8ac8da ps23286\">(86.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps5690 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:101.85pt\">Excluding connected derivatives.</span></div><div class=\"ps5691 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:165.61pt\">Excluding derivatives on loans and bond due to bank.</span></div><div class=\"ps5692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:416.95pt\">Liabilities linked to some business combinations may be elected to have the fair value variation accounted for against the Group equity.</span></div><div class=\"ps23353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(4) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:382.9pt\">Non-current and current asset and liabilities for hedging derivatives both reported and not reported under hedge accounting.</span></div><div class=\"ps23425 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:225.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:78.75pt\"></td></tr><tr style=\"height:21.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1761\"><div><div class=\"ps10359 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23355 ss1762\"><div><div class=\"ps17657 ss536\"><span class=\"f charStyle-183bdf94 ps23354\">carrying amount<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23357 ss1415\"><div><div class=\"ps17661 ss304\"><span class=\"f charStyle-183bdf94 ps4116\">measurement at <span class=\"f ps21\"> </span></span></div><div class=\"ps10058 ss304\"><span class=\"f charStyle-183bdf94 ps23356\">amortised cost</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23361 ss1763\"><div><div class=\"ps17667 ss18\"><span class=\"f charStyle-183bdf94 ps23358\">measurement at fair <span class=\"f ps21\"> </span></span></div><div class=\"ps17657 ss18\"><span class=\"f charStyle-183bdf94 ps23359\">value through profit </span></div><div class=\"ps17670 ss18\"><span class=\"f charStyle-183bdf94 ps23360\">and loss</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14160 ss1764\"><div><div class=\"ps23363 ss1166\"><span class=\"f charStyle-183bdf94 ps23362\">measurement at fair <span class=\"f ps21\"> </span></span></div><div class=\"ps23365 ss1166\"><span class=\"f charStyle-183bdf94 ps23364\">value with changes </span></div><div class=\"ps23367 ss1166\"><span class=\"f charStyle-183bdf94 ps23366\">recognised in the </span></div><div class=\"ps23369 ss1166\"><span class=\"f charStyle-183bdf94 ps23368\">statement of </span></div><div class=\"ps23371 ss1166\"><span class=\"f charStyle-183bdf94 ps23370\">comprehensive income</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12908 ss1761\"><div><div class=\"ps10359 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4232 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Cash and cash equivalents<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4239 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">666.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23373 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23372\">666.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4377 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23374 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4248 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Other current financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps4254 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23375\">7.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23376 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">7.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4392 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23377 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4395 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23378 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23375\">7.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23379 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">7.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4407 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23380 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4412 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23381 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps4500\">(77.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23382 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(77.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4421 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14170 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11863 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-40131897 ps132\">Loans due to banks</span><span class=\"f charStyle-85922b7e ps23262\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23383 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2717\">(1,205.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23384 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps20300\">(1,205.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11866 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23385 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8706 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23386 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2717\">(1,580.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23387 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps20300\">(1,580.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11872 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23388 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps2982 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Accrued interest on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23389 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps4500\">(21.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23390 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(21.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11878 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23391 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11881 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Other current financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23393 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23392\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23394 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11884 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23395 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11887 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-40131897 ps132\">Liabilities for put option and earn-out payments</span><span class=\"f charStyle-85922b7e ps23281\"><sup>(2)</sup></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23397 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23396\">(168.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23398 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(3.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11890 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps23399\">(49.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23400 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps6309\">(115.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5141 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23401 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23375\">3.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23402 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11896 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22167\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23404 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps23403\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps3367 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-40131897 ps132\">Non-current assets for hedging derivatives</span><span class=\"f charStyle-85922b7e ps23405\"><span class=\"f ps21\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23406 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23392\">(7.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23407 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11901 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps23408\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23410 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps23409\">(6.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5601 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23412 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">98.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23413 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">8.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11906 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps532\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23414 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8376 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Trade receivables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23415 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">425.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23416 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23372\">425.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11912 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23417 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8387 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Trade payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23418 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23396\">(672.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23420 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23419\">(672.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11918 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23421 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8398 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23422 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-ba8ac8da ps2717\">(2,525.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23423 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps20300\">(2,446.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11923 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-ba8ac8da ps532\">38.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23424 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-ba8ac8da ps20538\">(117.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:138pt\">Excluding derivatives on loans due to banks.</span></div><div class=\"ps23428 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:416.95pt\">Liabilities linked to some business combinations may be elected to have the fair value variation accounted for against the Group equity.</span><span class=\"f charStyle-40131897 ps23427\" style=\"width:1.94pt\"> </span></div><div class=\"ps23429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:237.14pt\">Derivatives on loans due to banks and new pre-hedging contract subscribed.</span></div><div class=\"ps1752 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:6.1pt\">T</span><span class=\"f charStyle-58d8bcbe ps17898\" style=\"width:489.99pt\">he tables below show a breakdown of the foreign exchange contracts on highly probable sales and purchases</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1753 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">and interest-rate swaps on loans. It also includes the effect of hedging derivatives, not in hedge accounting with<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1754 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">fair value variations recognised through the statement of profit or loss. Call and/or put agreements over joint-</span></div><div class=\"ps1755 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:428.85pt\">ventures elected as derivative instruments with negligible fair value variation are disclosed below.</span><span class=\"f charStyle-58d8bcbe ps23430\" style=\"width:2.77pt\"> </span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:178.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:87pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:83.25pt\"></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1766\"><div><div class=\"ps4101 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">foreign exchange forward contracts and options <span class=\"f ps21\"> </span></span></div><div class=\"ps4103 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">(highly probable forecast sales and purchases)<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16006 ss1768\"><div><div class=\"ps485 ss1767\"><span class=\"f charStyle-183bdf94 ps23431\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16007 ss1770\"><div><div class=\"ps485 ss1769\"><span class=\"f charStyle-183bdf94 ps23432\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20441 ss1771\"><div><div class=\"ps485 ss38\"><span class=\"f charStyle-183bdf94 ps23433\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1353\"><div><div class=\"ps979 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23434 ss395\"><div><div class=\"ps2776 ss355\"><span class=\"f charStyle-183bdf94 ps11972\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss355\"><span class=\"f charStyle-183bdf94 ps8083\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4039 ss378\"><div><div class=\"ps979 ss110\"><span class=\"f charStyle-183bdf94 ps23435\">average forward rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4117 ss395\"><div><div class=\"ps2776 ss355\"><span class=\"f charStyle-183bdf94 ps11972\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss355\"><span class=\"f charStyle-183bdf94 ps8083\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23437 ss998\"><div><div class=\"ps979 ss288\"><span class=\"f charStyle-183bdf94 ps23436\">average forward rate<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23438 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18668\">87.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23440 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">1.15<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23441 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18660\">187.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23443 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">1.08<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Russian Ruble<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23444 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18668\">10.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23446 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23445\">92.88<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23448 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23447\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23449 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps20534\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Australian Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23451 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">5.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23452 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">1.78<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23453 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18668\">38.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23454 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">1.67<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Swiss Franc<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23455 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23456 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">0.93<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23457 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">2.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps5090 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">0.93<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Singapore Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23458 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23447\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23460 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23459\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23461 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23462 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">1.43<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Sterling Pound<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23463 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23464 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">0.89<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23465 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23466 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">0.84<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Canadian Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23468 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23467\">(2.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23469 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">1.63<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23470 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23447\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23471 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps20534\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23472 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-ba8ac8da ps18660\">105.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23473 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-ba8ac8da ps18660\">239.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps23500 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:154.5pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:63.75pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td><td style=\"padding:0;width:57pt\"></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1772\"><div><div class=\"ps2415 ss901\"><span class=\"f charStyle-183bdf94 ps132\">nature of hedged items and related derivatives <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss901\"><span class=\"f charStyle-183bdf94 ps132\">forward</span></div></div></div></td><td colspan=\"6\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23475 ss1774\"><div><div class=\"ps476 ss1773\"><span class=\"f charStyle-183bdf94 ps606\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4096 ss450\"><div><div class=\"ps476 ss449\"><span class=\"f charStyle-183bdf94 ps23476\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23477 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps15233\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1775\"><div><div class=\"ps2579 ss901\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4109 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">notional <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18576\">amount </span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23479\">hedge items</span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23482 ss1520\"><div><div class=\"ps2578 ss172\"><span class=\"f charStyle-183bdf94 ps23480\">carrying amounts <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss172\"><span class=\"f charStyle-183bdf94 ps23481\">hedging </span></div><div class=\"ps2580 ss172\"><span class=\"f charStyle-183bdf94 ps14872\">instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14896 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23483\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18065\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">(losses)</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23485 ss1405\"><div><div class=\"ps5026 ss304\"><span class=\"f charStyle-183bdf94 ps23484\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss304\"><span class=\"f charStyle-183bdf94 ps5477\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23488 ss292\"><div><div class=\"ps2578 ss197\"><span class=\"f charStyle-183bdf94 ps23486\">carrying amounts <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps4036\">hedging </span></div><div class=\"ps2580 ss197\"><span class=\"f charStyle-183bdf94 ps23487\">instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14898 ss291\"><div><div class=\"ps2578 ss290\"><span class=\"f charStyle-183bdf94 ps23489\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss290\"><span class=\"f charStyle-183bdf94 ps4147\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss290\"><span class=\"f charStyle-183bdf94 ps23490\">(losses)</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5727 ss1775\"><div><div class=\"ps2578 ss901\"><span class=\"f charStyle-183bdf94 ps132\">foreign exchange forward contracts and options<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss901\"><span class=\"f charStyle-183bdf94 ps132\">(highly probable forecast sales and purchases) <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss901\"><span class=\"f charStyle-183bdf94 ps132\">fair value and cash flow hedge</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23491 ss1461\"><div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18458\">105.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23493 ss1520\"><div><div class=\"ps2579 ss172\"><span class=\"f charStyle-183bdf94 ps23492\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20575 ss1461\"><div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps23494\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23496 ss1405\"><div><div class=\"ps2579 ss304\"><span class=\"f charStyle-183bdf94 ps23495\">239.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23497 ss292\"><div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps14465\">(6.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23499 ss291\"><div><div class=\"ps2579 ss290\"><span class=\"f charStyle-183bdf94 ps23498\">(5.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23508 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:154.5pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:63.75pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td><td style=\"padding:0;width:57pt\"></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1772\"><div><div class=\"ps23502 ss901\"><span class=\"f charStyle-183bdf94 ps132\">nature hedged items <span class=\"f ps21\"> </span></span></div><div class=\"ps23503 ss901\"><span class=\"f charStyle-183bdf94 ps132\">and related derivatives interest rate swaps<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23475 ss1774\"><div><div class=\"ps476 ss1773\"><span class=\"f charStyle-183bdf94 ps606\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4096 ss450\"><div><div class=\"ps476 ss449\"><span class=\"f charStyle-183bdf94 ps23476\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23477 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps15233\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1775\"><div><div class=\"ps2579 ss901\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4109 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">notional <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18576\">amount </span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23479\">hedge items</span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23482 ss1520\"><div><div class=\"ps2578 ss172\"><span class=\"f charStyle-40131897 ps23480\">carrying amounts </span></div><div class=\"ps2579 ss172\"><span class=\"f charStyle-40131897 ps23481\">hedging <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss172\"><span class=\"f charStyle-40131897 ps23504\">instruments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-85922b7e ps23505\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14896 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23483\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18065\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">(losses)</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23485 ss1405\"><div><div class=\"ps5026 ss304\"><span class=\"f charStyle-183bdf94 ps23484\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss304\"><span class=\"f charStyle-183bdf94 ps5477\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23488 ss292\"><div><div class=\"ps2578 ss197\"><span class=\"f charStyle-183bdf94 ps23486\">carrying amounts <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps4036\">hedging </span></div><div class=\"ps2580 ss197\"><span class=\"f charStyle-183bdf94 ps23487\">instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14898 ss291\"><div><div class=\"ps2578 ss290\"><span class=\"f charStyle-183bdf94 ps23489\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss290\"><span class=\"f charStyle-183bdf94 ps4147\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss290\"><span class=\"f charStyle-183bdf94 ps23490\">(losses)</span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5727 ss1776\"><div><div class=\"ps2776 ss901\"><span class=\"f charStyle-183bdf94 ps132\">interest rate swap contracts on loans financial <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss901\"><span class=\"f charStyle-183bdf94 ps132\">statements impact</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23491 ss1561\"><div><div class=\"ps979 ss358\"><span class=\"f charStyle-183bdf94 ps18458\">848.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23493 ss420\"><div><div class=\"ps979 ss172\"><span class=\"f charStyle-183bdf94 ps23506\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20575 ss1561\"><div><div class=\"ps979 ss358\"><span class=\"f charStyle-183bdf94 ps23494\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23496 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps23495\">963.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23497 ss233\"><div><div class=\"ps979 ss197\"><span class=\"f charStyle-183bdf94 ps23507\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23499 ss1777\"><div><div class=\"ps979 ss290\"><span class=\"f charStyle-183bdf94 ps1037\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23509 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:363.7pt\">The carrying value is included in the line \u2018Loans due to banks\u2019 in the financial instruments\u2019 recap table reported above.<span class=\"f ps21\"> </span></span></div><div class=\"ps23186 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">In connection with the establishment of the joint-venture in Spiritus Co Ltd., commitments to increase the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23510 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">ownership in the company existed in the form of put and/or call options elected as derivative financial</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23511 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">instruments measured at fair value with impact in the Campari Group statement of profit or loss. The fair value</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps23512 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">of these options, whose measurement was contingent upon the performance of the company, was considered</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps23515 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:434.19pt\">negligible and therefore was never recognised in the Campari Group\u2019s financial statements. In </span><span class=\"f charStyle-58d8bcbe ps23513\" style=\"width:44.07pt\">July 2025</span><span class=\"f charStyle-58d8bcbe ps23514\" style=\"width:17.94pt\"> the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23516 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">Group resolved to exercise the put options. Consequently, the derivatives position was reclassified into an in-</span></div><div class=\"ps19365 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">flow transaction, enabling the Group to exit the investment (refer to note 3 xii 'Share of Profit (Loss) of Joint-</span></div><div class=\"ps23518 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:224.6pt\">Ventures and Profit (loss) from other investments').</span><span class=\"f charStyle-3adfeb48 ps23517\" style=\"width:30.47pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0  </span></div><div class=\"ps23548 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Other Non-Current Financial Assets<span id=\"i284c09f6ef8b47808982f2b19a06cb10\"></span></span></div><div class=\"ps2048 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> </span></div><div class=\"ps23551 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:293.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:101.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5024 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps22060\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22061 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps22060\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6072 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6073 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Non-current restricted bank accounts<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6075 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6081\">20.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6076 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">5.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-40131897 ps132\">Non-current assets for hedging derivatives reported using hedge accounting </span><span class=\"f charStyle-85922b7e ps23550\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6078 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps21763\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6080 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">2.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6082 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6083 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps4314\">2.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss340\"><div><div class=\"ps476 ss336\"><span class=\"f charStyle-ba8ac8da ps132\">Non-current financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6085 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-ba8ac8da ps6081\">21.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6087 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-ba8ac8da ps6081\">10.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23552 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d50bdf44 ps579\" style=\"width:5.55pt\"><span style=\"background-color:inherit\">(1)</span><sup></sup></span><span class=\"f charStyle-0bdf54e2 ps1167\" style=\"width:190.45pt\"><span style=\"background-color:inherit\"> Derivatives were classified with the connected hedged items.</span></span></div><div class=\"ps3013 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">The restricted bank account is supporting the new non-recourse securitisation agreement finalised in 2025 to</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23555 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:373.11pt\">optimise the capital structure and reduce financial leverage (refer to note 5. i 'Trade r</span><span class=\"f charStyle-58d8bcbe ps23554\" style=\"width:55.24pt\">eceivables').</span></div><div class=\"ps23556 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Non-Current Financial Debt<span id=\"ie3c881f528ae489cbb051317e709abc7\"></span></span></div><div class=\"ps23775 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:183.21pt\">Liabilities for put options and earn-out<span id=\"i7001c33dc89a4ff28bca411b24abe274\"></span></span></div><div class=\"ps23793 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:146.25pt\"></td><td style=\"padding:0;width:60.75pt\"></td><td style=\"padding:0;width:104.25pt\"></td><td style=\"padding:0;width:184.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23778 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-183bdf94 ps23777\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4586 ss1816\"><div><div class=\"ps23779 ss1014\"><span class=\"f charStyle-d669f8f1 ps11805\">variation impacting profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22862 ss1817\"><div><div class=\"ps23780 ss1041\"><span class=\"f charStyle-d669f8f1 ps18328\">variation impacting Group net equity (retained earning or <span class=\"f ps21\"> </span></span></div><div class=\"ps23782 ss1041\"><span class=\"f charStyle-d669f8f1 ps23781\">currency translation differences)</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23783 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-ba8ac8da ps21089\">164.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">remeasurement<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23785 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-183bdf94 ps23784\">(65.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6316 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23786\">(49.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4514 ss1042\"><div><div class=\"ps6279 ss1041\"><span class=\"f charStyle-d669f8f1 ps23787\">(15.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23788 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-183bdf94 ps23784\">(13.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6328 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23789\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4526 ss1042\"><div><div class=\"ps6279 ss1041\"><span class=\"f charStyle-d669f8f1 ps23787\">(13.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23790 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-ba8ac8da ps21133\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1815\"><div><div class=\"ps6279 ss1814\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23791 ss225\"><div><div class=\"ps6279 ss210\"><span class=\"f charStyle-d669f8f1 ps21133\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1815\"><div><div class=\"ps6279 ss1814\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at amortised cost<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23792 ss225\"><div><div class=\"ps6279 ss210\"><span class=\"f charStyle-d669f8f1 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps23808 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:146.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:104.25pt\"></td><td style=\"padding:0;width:186pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23778 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23795\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23796 ss1816\"><div><div class=\"ps23779 ss1014\"><span class=\"f charStyle-d669f8f1 ps11805\">variation impacting profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6268 ss1818\"><div><div class=\"ps23780 ss341\"><span class=\"f charStyle-d669f8f1 ps23797\">variation impacting Group net equity (retained earning or <span class=\"f ps21\"> </span></span></div><div class=\"ps23782 ss341\"><span class=\"f charStyle-d669f8f1 ps23798\">currency translation differences)</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23783 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps23372\">209.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">perimeter effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23785 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16618\">48.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23799 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23789\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6273 ss342\"><div><div class=\"ps6279 ss341\"><span class=\"f charStyle-d669f8f1 ps6951\">48.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">remeasurement<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23788 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(46.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23801 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23800\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23803 ss342\"><div><div class=\"ps6279 ss341\"><span class=\"f charStyle-d669f8f1 ps23802\">(47.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">reclassification to current liability<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23790 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(55.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23804 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23789\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23791 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">8.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23805 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23789\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9005 ss342\"><div><div class=\"ps6279 ss341\"><span class=\"f charStyle-d669f8f1 ps7241\">8.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23792 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps23372\">164.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1815\"><div><div class=\"ps6279 ss1814\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23806 ss1400\"><div><div class=\"ps6279 ss304\"><span class=\"f charStyle-d669f8f1 ps23372\">164.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1815\"><div><div class=\"ps6279 ss1814\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at amortised cost<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23807 ss1400\"><div><div class=\"ps6279 ss304\"><span class=\"f charStyle-d669f8f1 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps23811 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:101.51pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22918\" style=\"width:6.97pt\">, </span><span class=\"f charStyle-58d8bcbe ps22919\" style=\"width:173.8pt\">the long-term portion mainly included </span><span class=\"f charStyle-58d8bcbe ps23810\" style=\"width:213.87pt\">the estimated payable for put options linked to</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps23812 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">Wilderness Trail Distillery, totalling \u20ac86.9 million, whose value decreased by \u20ac29.0 million, depending on the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps23813 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">remeasurement and exchange rate effects, as well as the estimated payable for earn-out linked to Courvoisier</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps23815 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:484.99pt\">totalling \u20ac0.3 million, whose value decreased by \u20ac49.6 million, depending on the remeasurement effects. T</span><span class=\"f charStyle-58d8bcbe ps23814\" style=\"width:11.12pt\">he</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">estimated payable for the earn-out related to Campari Japan Ltd. was negligible (unchanged compared to</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:28.34pt\">2024).</span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vi.\u00a0  Current Financial Debt<span id=\"i6f9db66bdc9c47dda8c6a00fe6a097d8\"></span></span></div><div class=\"ps23850 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:233.91pt\">Liabilities for put options and earn-out payments<span id=\"i0cc082e6cc9048f0aefa00ad385a0328\"></span></span></div><div class=\"ps23852 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:97.25pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps6908\" style=\"width:398.92pt\">, the short-term portion of the item included a liability of \u20ac3.1 million for the purchase of the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps23854 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:435.68pt\">residual non-controlling shares in J. Wray&amp;Nephew Ltd., secured by restricted bank account and </span><span class=\"f charStyle-58d8bcbe ps23853\" style=\"width:60.53pt\">the estimated</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23855 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:376.93pt\">payable for the earn-out related to CT Spirits Japan Ltd. in the amount of \u20ac0.1 million.</span></div><div class=\"ps23863 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:201.75pt\"></td><td style=\"padding:0;width:95.25pt\"></td><td style=\"padding:0;width:95.25pt\"></td><td style=\"padding:0;width:103.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss892\"><div><div class=\"ps485 ss891\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps9100 ss1823\"><div><div class=\"ps23780 ss1822\"><span class=\"f charStyle-d669f8f1 ps23857\">variation impacting profit or <span class=\"f ps21\"> </span></span></div><div class=\"ps23782 ss1822\"><span class=\"f charStyle-d669f8f1 ps23858\">loss</span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps18650 ss1824\"><div><div class=\"ps23780 ss1470\"><span class=\"f charStyle-d669f8f1 ps16471\">variation impacting Group net <span class=\"f ps21\"> </span></span></div><div class=\"ps23782 ss1470\"><span class=\"f charStyle-d669f8f1 ps23859\">equity or investment value</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss892\"><div><div class=\"ps485 ss891\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps15081 ss1825\"><div><div class=\"ps485 ss1822\"><span class=\"f charStyle-ba8ac8da ps23860\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss892\"><div><div class=\"ps485 ss891\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps18339 ss1825\"><div><div class=\"ps485 ss1822\"><span class=\"f charStyle-183bdf94 ps23861\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21298 ss1825\"><div><div class=\"ps6279 ss1822\"><span class=\"f charStyle-d669f8f1 ps23861\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps19366 ss1471\"><div><div class=\"ps6279 ss1470\"><span class=\"f charStyle-d669f8f1 ps19322\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss892\"><div><div class=\"ps485 ss891\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23862 ss1825\"><div><div class=\"ps485 ss1822\"><span class=\"f charStyle-ba8ac8da ps23860\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss892\"><div><div class=\"ps6279 ss891\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps19599 ss1825\"><div><div class=\"ps6279 ss1822\"><span class=\"f charStyle-d669f8f1 ps23860\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss892\"><div><div class=\"ps6279 ss891\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at amortised cost<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps19606 ss1825\"><div><div class=\"ps6279 ss1822\"><span class=\"f charStyle-d669f8f1 ps23860\">3.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps23880 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:200.25pt\"></td><td style=\"padding:0;width:98.25pt\"></td><td style=\"padding:0;width:98.25pt\"></td><td style=\"padding:0;width:98.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:1pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23867 ss1826\"><div><div class=\"ps23780 ss553\"><span class=\"f charStyle-d669f8f1 ps23865\">variation impacting profit or <span class=\"f ps21\"> </span></span></div><div class=\"ps23782 ss553\"><span class=\"f charStyle-d669f8f1 ps23866\">loss</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:1pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1826\"><div><div class=\"ps23780 ss553\"><span class=\"f charStyle-0788a2e8 ps23868\">variation impacting Group net </span></div><div class=\"ps23782 ss553\"><span class=\"f charStyle-0788a2e8 ps16473\">equity or investment value</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt solid #000;padding:0\"><div class=\"ps1081 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #000;padding:0\"><div class=\"ps20561 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-ba8ac8da ps23869\">26.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:1pt solid #000;padding:0\"><div class=\"ps1105 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #000;padding:0\"><div class=\"ps22448 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps23870\">(77.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #000;padding:0\"><div class=\"ps23872 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #000;padding:0\"><div class=\"ps23574 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Remeasurement<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22452 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps23873\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23874 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23575 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23873\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">reclassification from non-current liability<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22454 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps23869\">55.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23875 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23576 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22457 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps15995\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23876 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps15995\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23577 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps15995\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22461 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-ba8ac8da ps23873\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23877 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23558 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">of which measured at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22463 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23873\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23878 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23559 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">of which measured at amortised cost<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22467 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23873\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23879 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23562 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26151 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Fair Value Information on Assets and Liabilities<span id=\"if2edeecf2a55458e960be05d8323a9a7\"></span></span></div><div class=\"ps24485 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps24487 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:188.86pt\">Fair value on financial assets and liabilities</span></div><div class=\"ps24488 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:408.78pt\">For fair value information on financial assets and liabilities, please refer to note 6 i-\u2018Financial </span><span class=\"f charStyle-6e73145d ps26152\" style=\"width:56.65pt\">instruments\u2019.</span><span class=\"f charStyle-6e73145d ps1927\" style=\"width:2.77pt\"> </span></div><div class=\"ps26217 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:103.25pt\">Financial Instruments</span></div><div class=\"ps26218 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">An analysis of financial instruments measured at fair value based on three different valuation levels is provided</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps26223 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:411.42pt\">in the following table. There were no transfers between fair value measurement levels during </span><span class=\"f charStyle-bdf8be45 ps26219\" style=\"width:36.11pt\"><span style=\"background-color:inherit\">the year</span></span><span class=\"f charStyle-bdf8be45 ps26220\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span><span class=\"f charStyle-58d8bcbe ps26221\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps26222\" style=\"width:2.77pt\">.</span></div><div class=\"ps26225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:151.62pt\">Fair value of financial instruments:</span></div><div class=\"ps26226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.91pt\">for financial assets and liabilities that are liquid or nearing maturity, it is assumed that the carrying amount</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps26227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.05pt\">equates to fair value; this assumption also applies to term deposits, securities that can be readily converted</span><span class=\"f charStyle-58d8bcbe ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps26228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:209.41pt\">to cash, and variable-rate financial instruments;</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.02pt\">for the measurement of hedging instruments at fair value, the Group used valuation models based on market</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:53.33pt\">parameters;</span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.02pt\">the fair value of non-current financial payables was obtained by discounting all future cash flows to present</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:253.66pt\">value under the conditions in effect at the end of the year.</span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">Derivatives, valued using techniques based on market data, are mainly interest-rate swaps and forward sales/</span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:466.06pt\">purchases of foreign currencies to hedge both the fair value of the underlying instruments and cash flows.</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">The most commonly applied measurement methods include forward pricing and swap models, which use</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">present value calculations. The models incorporate various inputs, including the non-performance risk rating of</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:468.42pt\">the counterparty, market volatility, spot and forward exchange rates and current and forward interest rates.</span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">An analysis of financial instruments measured at fair value, based on three different valuation levels is provided</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:79.99pt\">in the table below.</span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.02pt\">level 1: valuation for the financial assets in question was calculated using a methodology based on the NAV,</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:241.1pt\">which was obtained from specialised external sources;</span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.92pt\">level 2: valuation used for financial instruments measured at fair value was based on parameters such as<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">exchange rates and interest rates, which are quoted on active markets or are observable on official yield</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:32.22pt\">curves;</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.05pt\">level 3: valuation used for financial liabilities deriving from or connected to business combinations, where a</span><span class=\"f charStyle-58d8bcbe ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.05pt\">portion of the consideration was determined as a condition subordinated to the company\u2019s performance<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1261\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:226.12pt\">acquired, based on contractually agreed indicators.</span></div><div class=\"ps15383 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:225.75pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23355 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14435 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14436 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26231 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14838 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6687 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Assets reported at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14843 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14848 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Non-current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps15180 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Liabilities reported at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps15185 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1765\"><div><div class=\"ps485 ss1760\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:137.58pt\">Non-current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps15187 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps15189 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Liabilities for put option and earn-out payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26232 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15156\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Financial liabilities at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16629 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">920.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16643 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">533.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16657 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">315.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16672 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">754.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps26233 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:225.75pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-23317bb7 ps132\"><span style=\"background-color:inherit\">at 31 December 2024</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23355 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14435 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14436 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26231 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14838 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6687 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Assets reported at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps14843 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps14848 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Non-current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps15180 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">2.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Liabilities reported at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps15185 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps15187 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Liabilities for put option and earn-out payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps15190 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">164.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Financial liabilities at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps16614 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps6988\">1,215.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps16629 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">517.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps16643 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">319.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16657 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">742.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps11291 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:472.2pt\">The following tables show the valuation techniques used in measuring level 2 and level 3 fair values </span><span class=\"f charStyle-58d8bcbe ps26234\" style=\"width:23.92pt\">at 31<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps11292 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.76pt\">December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps26235\" style=\"width:424.33pt\"> for financial instruments measured at fair value in the statement of Financial Position, and the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps11293 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:163.9pt\">significant unobservable inputs used.</span><span class=\"f charStyle-58d8bcbe ps26236\" style=\"width:2.77pt\"> </span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:123.75pt\"></td><td style=\"padding:0;width:196.5pt\"></td><td style=\"padding:0;width:95.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td></tr><tr style=\"height:45pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss960\"><div><div class=\"ps2465 ss458\"><span class=\"f charStyle-ba8ac8da ps132\">type<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7719 ss1922\"><div><div class=\"ps2465 ss1921\"><span class=\"f charStyle-ba8ac8da ps132\">valuation technique<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22946 ss1923\"><div><div class=\"ps2455 ss1822\"><span class=\"f charStyle-ba8ac8da ps132\">Significant unobservable <span class=\"f ps21\"> </span></span></div><div class=\"ps2456 ss1822\"><span class=\"f charStyle-ba8ac8da ps132\">inputs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26237 ss1924\"><div><div class=\"ps2463 ss618\"><span class=\"f charStyle-ba8ac8da ps132\">inter-relationship <span class=\"f ps21\"> </span></span></div><div class=\"ps2464 ss618\"><span class=\"f charStyle-ba8ac8da ps132\">between significant <span class=\"f ps21\"> </span></span></div><div class=\"ps2465 ss618\"><span class=\"f charStyle-ba8ac8da ps132\">unobservable inputs </span></div><div class=\"ps2466 ss618\"><span class=\"f charStyle-ba8ac8da ps132\">and fair value <span class=\"f ps21\"> </span></span></div><div class=\"ps2468 ss618\"><span class=\"f charStyle-ba8ac8da ps132\">measurement</span></div></div></div></td></tr><tr style=\"height:53.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1925\"><div><div class=\"ps2618 ss458\"><span class=\"f charStyle-183bdf94 ps132\">Forward and option exchange <span class=\"f ps21\"> </span></span></div><div class=\"ps2619 ss458\"><span class=\"f charStyle-183bdf94 ps132\">contracts</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26238 ss1926\"><div><div class=\"ps2415 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">The fair value is determined using quoted forward exchange <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">rates at the reporting date based on high credit quality yield <span class=\"f ps21\"> </span></span></div><div class=\"ps2419 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">curves in the respective currencies. The models incorporate </span></div><div class=\"ps2420 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">various inputs, including the counterparty's credit rating, </span></div><div class=\"ps2421 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">market volatility, spot and forward exchange rates and current </span></div><div class=\"ps2422 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">and forward interest rates.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22953 ss1927\"><div><div class=\"ps10643 ss1822\"><span class=\"f charStyle-183bdf94 ps132\">Not applicable.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26239 ss1928\"><div><div class=\"ps10643 ss618\"><span class=\"f charStyle-183bdf94 ps132\">Not applicable.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:104.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12854 ss1929\"><div><div class=\"ps10783 ss458\"><span class=\"f charStyle-183bdf94 ps132\">Interest rate<span class=\"f ps21\"> </span></span></div><div class=\"ps10785 ss458\"><span class=\"f charStyle-183bdf94 ps132\">swaps<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13331 ss1930\"><div><div class=\"ps2415 ss1921\"><span class=\"f charStyle-40131897 ps132\">The fair value of interest rate swap agreements is calculated </span></div><div class=\"ps2417 ss1921\"><span class=\"f charStyle-40131897 ps132\">as the present value of the estimated future cash flows. </span></div><div class=\"ps2419 ss1921\"><span class=\"f charStyle-40131897 ps132\">Estimates of future floating-rate cash flows are based on </span></div><div class=\"ps2420 ss1921\"><span class=\"f charStyle-40131897 ps132\">quoted swap rates, futures prices and interbank borrowing </span></div><div class=\"ps2421 ss1921\"><span class=\"f charStyle-40131897 ps132\">rates. Estimated cash flows are discounted using a yield </span></div><div class=\"ps2422 ss1921\"><span class=\"f charStyle-40131897 ps132\">curve constructed from similar sources reflecting the </span></div><div class=\"ps2426 ss1921\"><span class=\"f charStyle-40131897 ps132\">applicable benchmark interbank rate used by market </span></div><div class=\"ps2429 ss1921\"><span class=\"f charStyle-40131897 ps132\">participants when pricing interest rate swaps. The fair value </span></div><div class=\"ps2432 ss1921\"><span class=\"f charStyle-40131897 ps132\">estimate is subject to a credit risk adjustment that reflects the </span></div><div class=\"ps2434 ss1921\"><span class=\"f charStyle-40131897 ps132\">credit risk of the Group and the counterparty; this is </span></div><div class=\"ps2436 ss1921\"><span class=\"f charStyle-40131897 ps132\">calculated based on credit spreads derived from current </span></div><div class=\"ps2438 ss1921\"><span class=\"f charStyle-40131897 ps132\">credit default swap or bond prices.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26240 ss1931\"><div><div class=\"ps10776 ss1822\"><span class=\"f charStyle-183bdf94 ps132\">Not applicable.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26241 ss1932\"><div><div class=\"ps10776 ss618\"><span class=\"f charStyle-183bdf94 ps132\">Not applicable.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:129pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11659 ss1933\"><div><div class=\"ps2470 ss458\"><span class=\"f charStyle-183bdf94 ps132\">Contingent consideration and put or <span class=\"f ps21\"> </span></span></div><div class=\"ps2471 ss458\"><span class=\"f charStyle-183bdf94 ps132\">put/call agreements connected with </span></div><div class=\"ps2472 ss458\"><span class=\"f charStyle-183bdf94 ps132\">business combination</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14235 ss1934\"><div><div class=\"ps2460 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">The valuation model considers the present value of expected <span class=\"f ps21\"> </span></span></div><div class=\"ps2461 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">payments, discounted using a risk-adjusted discount rate.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26246 ss1935\"><div><div class=\"ps2456 ss1822\"><span class=\"f charStyle-40131897 ps132\">Wilderness Trail Distillery </span></div><div class=\"ps2457 ss1822\"><span class=\"f charStyle-40131897 ps132\">option</span></div><div class=\"ps2458 ss1822\"><span class=\"f charStyle-40131897 ps132\">- expected contractually </span></div><div class=\"ps2459 ss1822\"><span class=\"f charStyle-40131897 ps132\">target business </span></div><div class=\"ps2460 ss1822\"><span class=\"f charStyle-40131897 ps132\">performances measured </span></div><div class=\"ps2461 ss1822\"><span class=\"f charStyle-40131897 ps132\">over a period of 9 years from </span></div><div class=\"ps26242 ss1822\"><span class=\"f charStyle-40131897 ps132\">the acquisition date;</span></div><div class=\"ps26243 ss1822\"><span class=\"f charStyle-40131897 ps132\">- risk-adjusted discount rate: </span></div><div class=\"ps26244 ss1822\"><span class=\"f charStyle-40131897 ps132\">3.9%.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26252 ss1936\"><div><div class=\"ps2463 ss618\"><span class=\"f charStyle-40131897 ps132\">Estimated fair value </span></div><div class=\"ps2464 ss618\"><span class=\"f charStyle-40131897 ps132\">would increase <span class=\"f ps21\"> </span></span></div><div class=\"ps2465 ss618\"><span class=\"f charStyle-40131897 ps132\">(decrease) if:</span></div><div class=\"ps2466 ss618\"><span class=\"f charStyle-40131897 ps132\">- the expected </span></div><div class=\"ps2468 ss618\"><span class=\"f charStyle-40131897 ps132\">contractually targeted </span></div><div class=\"ps2469 ss618\"><span class=\"f charStyle-40131897 ps132\">business performance </span></div><div class=\"ps2470 ss618\"><span class=\"f charStyle-40131897 ps132\">was higher (lower); or</span></div><div class=\"ps2471 ss618\"><span class=\"f charStyle-40131897 ps132\">the risk-adjusted <span class=\"f ps21\"> </span></span></div><div class=\"ps2472 ss618\"><span class=\"f charStyle-40131897 ps132\">discount rate was lower </span></div><div class=\"ps2473 ss618\"><span class=\"f charStyle-40131897 ps132\">(higher) with related </span></div><div class=\"ps26247 ss618\"><span class=\"f charStyle-40131897 ps132\">impact on financial </span></div><div class=\"ps26248 ss618\"><span class=\"f charStyle-40131897 ps132\">liabilities affecting the <span class=\"f ps21\"> </span></span></div><div class=\"ps26249 ss618\"><span class=\"f charStyle-40131897 ps132\">expected cash out </span></div><div class=\"ps26250 ss618\"><span class=\"f charStyle-40131897 ps132\">value and Campari </span></div><div class=\"ps26251 ss618\"><span class=\"f charStyle-40131897 ps132\">Group net equity.</span></div></div></div></td></tr><tr style=\"height:153.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9479 ss1937\"><div><div class=\"ps2587 ss458\"><span class=\"f charStyle-183bdf94 ps132\">Variable payments in form of earn-out <span class=\"f ps21\"> </span></span></div><div class=\"ps2588 ss458\"><span class=\"f charStyle-183bdf94 ps132\">agreements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14249 ss1938\"><div><div class=\"ps2587 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">The valuation model considers the present value of expected <span class=\"f ps21\"> </span></span></div><div class=\"ps2588 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">payments.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26253 ss1939\"><div><div class=\"ps2415 ss1822\"><span class=\"f charStyle-40131897 ps132\">CT Spirits Japan variable </span></div><div class=\"ps2417 ss1822\"><span class=\"f charStyle-40131897 ps132\">earn-out<span class=\"f ps21\"> </span></span></div><div class=\"ps2419 ss1822\"><span class=\"f charStyle-40131897 ps132\"> - expected contractually </span></div><div class=\"ps2420 ss1822\"><span class=\"f charStyle-40131897 ps132\">target business </span></div><div class=\"ps2421 ss1822\"><span class=\"f charStyle-40131897 ps132\">performances measured </span></div><div class=\"ps2422 ss1822\"><span class=\"f charStyle-40131897 ps132\">over a period of 3 years from <span class=\"f ps21\"> </span></span></div><div class=\"ps2426 ss1822\"><span class=\"f charStyle-40131897 ps132\">the acquisition date</span></div><div class=\"ps2429 ss1822\"><span class=\"f charStyle-40131897 ps132\"> - risk-adjusted discount rate </span></div><div class=\"ps2432 ss1822\"><span class=\"f charStyle-40131897 ps132\">3.5%.</span></div><div class=\"ps2436 ss1822\"><span class=\"f charStyle-40131897 ps132\">Courvoisier earn-out</span></div><div class=\"ps2438 ss1822\"><span class=\"f charStyle-40131897 ps132\"> - company performance </span></div><div class=\"ps2440 ss1822\"><span class=\"f charStyle-40131897 ps132\">contractually envisaged with </span></div><div class=\"ps2441 ss1822\"><span class=\"f charStyle-40131897 ps132\">targets based on sales </span></div><div class=\"ps2444 ss1822\"><span class=\"f charStyle-40131897 ps132\">performances (in USD) in </span></div><div class=\"ps2445 ss1822\"><span class=\"f charStyle-40131897 ps132\">2028</span></div><div class=\"ps2447 ss1822\"><span class=\"f charStyle-40131897 ps132\"> - risk adjusted discount rate </span></div><div class=\"ps2449 ss1822\"><span class=\"f charStyle-40131897 ps132\">5.8%.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26260 ss1940\"><div><div class=\"ps10824 ss618\"><span class=\"f charStyle-40131897 ps132\">The estimated fair value </span></div><div class=\"ps2724 ss618\"><span class=\"f charStyle-40131897 ps132\">would increase </span></div><div class=\"ps2725 ss618\"><span class=\"f charStyle-40131897 ps132\">(decrease) if: </span></div><div class=\"ps2726 ss618\"><span class=\"f charStyle-40131897 ps132\"> - the expected </span></div><div class=\"ps2727 ss618\"><span class=\"f charStyle-40131897 ps132\">contractually targeted </span></div><div class=\"ps2728 ss618\"><span class=\"f charStyle-40131897 ps132\">business performance, </span></div><div class=\"ps2729 ss618\"><span class=\"f charStyle-40131897 ps132\">was higher (lower) with </span></div><div class=\"ps26254 ss618\"><span class=\"f charStyle-40131897 ps132\">related impact in </span></div><div class=\"ps26255 ss618\"><span class=\"f charStyle-40131897 ps132\">financial liabilities </span></div><div class=\"ps26256 ss618\"><span class=\"f charStyle-40131897 ps132\">affecting the expected <span class=\"f ps21\"> </span></span></div><div class=\"ps26257 ss618\"><span class=\"f charStyle-40131897 ps132\">cash out value and the </span></div><div class=\"ps26258 ss618\"><span class=\"f charStyle-40131897 ps132\">statement of profit or </span></div><div class=\"ps26259 ss618\"><span class=\"f charStyle-40131897 ps132\">loss.</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">The following table shows a reconciliation from the opening balance to the closing balance of the periods for</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps26263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:79.98pt\">level 3 fair values.</span></div><div class=\"ps26274 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:226.5pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1941\"><div><div class=\"ps979 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss846\"><div><div class=\"ps2776 ss841\"><span class=\"f charStyle-183bdf94 ps2687\">liabilities for contingent considerations, put option and earn-out and <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss841\"><span class=\"f charStyle-183bdf94 ps26265\">derivatives over equity investments and joint-ventures</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">level 3 fair values at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26267 ss842\"><div><div class=\"ps485 ss841\"><span class=\"f charStyle-ba8ac8da ps26266\">164.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">- change in fair value included in profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26269 ss842\"><div><div class=\"ps476 ss841\"><span class=\"f charStyle-183bdf94 ps26268\">(49.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">- change in fair value included in Group net equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26270 ss842\"><div><div class=\"ps476 ss841\"><span class=\"f charStyle-183bdf94 ps26268\">(15.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">- exchange rate effect and other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26271 ss842\"><div><div class=\"ps476 ss841\"><span class=\"f charStyle-183bdf94 ps26268\">(13.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">level 3 fair values at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26273 ss842\"><div><div class=\"ps485 ss841\"><span class=\"f charStyle-ba8ac8da ps26272\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26283 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:261pt\"></td><td style=\"padding:0;width:234.75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1943\"><div><div class=\"ps979 ss1942\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26277 ss1945\"><div><div class=\"ps2776 ss1944\"><span class=\"f charStyle-183bdf94 ps4227\">liabilities for contingent considerations, put option and earn-out and <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1944\"><span class=\"f charStyle-183bdf94 ps26276\">derivatives over equity investments and joint-ventures</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-ba8ac8da ps132\">level 3 fair values at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26279 ss1947\"><div><div class=\"ps485 ss1944\"><span class=\"f charStyle-ba8ac8da ps26278\">231.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-183bdf94 ps132\">- change in fair value included in profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6476 ss1947\"><div><div class=\"ps476 ss1944\"><span class=\"f charStyle-183bdf94 ps26280\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-183bdf94 ps132\">- disposal<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6492 ss1947\"><div><div class=\"ps476 ss1944\"><span class=\"f charStyle-183bdf94 ps653\">(125.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-183bdf94 ps132\">- additions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6507 ss1947\"><div><div class=\"ps476 ss1944\"><span class=\"f charStyle-183bdf94 ps19136\">50.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-183bdf94 ps132\">- exchange rate effect and other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6519 ss1947\"><div><div class=\"ps476 ss1944\"><span class=\"f charStyle-183bdf94 ps26281\">7.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-ba8ac8da ps132\">level 3 fair values at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26282 ss1947\"><div><div class=\"ps485 ss1944\"><span class=\"f charStyle-ba8ac8da ps26278\">164.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">For the level 3 fair value items, reasonably possible changes at the reporting date to one of the significant</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">unobservable inputs, holding other inputs constant, would have been the following effects. The baseline is the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:470.49pt\">contingent consideration recorded as put option liability in the Consolidated Financial statements </span><span class=\"f charStyle-58d8bcbe ps26285\" style=\"width:25.69pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2025</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:2.77pt\">.</span></div><div class=\"ps16923 ss1\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:300.75pt\"></td><td style=\"padding:0;width:97.5pt\"></td><td style=\"padding:0;width:97.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps3073 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26286\">profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26287 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps7014\">group net equity<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps3059 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps6638\">(+) increase/(-) decrease<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24777 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps6638\">(+) increase/(-) decrease<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-ba8ac8da ps132\">liabilities for contingent considerations, put option and earn-out<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">risk adjusted discount rate +/-1% (+/-100 basis points)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps4133 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-40131897 ps26288\">'-/-</span><span class=\"f charStyle-85922b7e ps26289\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26291 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26290\">4.7/-4.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">expected contractually target business performances +/-10% (+/-1000 basis points)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps4148 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-40131897 ps26288\">'-/-</span><span class=\"f charStyle-85922b7e ps26289\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26293 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26292\">-8.6/+8.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26294 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-85922b7e ps579\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\">Non-meaningful figure.</span></div><div class=\"ps26297 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:300.75pt\"></td><td style=\"padding:0;width:97.5pt\"></td><td style=\"padding:0;width:97.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps3073 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26286\">profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26287 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps7014\">group net equity<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps3059 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps6638\">(+) increase/(-) decrease<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24777 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps6638\">(+) increase/(-) decrease<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-ba8ac8da ps132\">liabilities for contingent considerations, put option and earn-out<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">risk adjusted discount rate +/-1% (+/-100 basis points)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps4133 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26290\">1.8/-1.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26291 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26290\">6.9/-7.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">expected contractually target business performances +/-10% (+/-1000 basis points)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps4148 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26292\">-5.0/+5.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26293 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26296\">-11.5/+11.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26299 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">In light of the negligible amount of derivatives over equity investments and joint-ventures classified as level 3 fair</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps26300 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">value items, no sensitivity was detected as any reasonably possible changes at the balance sheet date of one of</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps26301 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">the significant unobservable inputs, keeping the other variables constant, would not have generated material</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps26303 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:321.19pt\">effects either on the statement of profit or loss or on the group net equity.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps26302\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21573 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:90.55pt\">Financial derivatives</span></div><div class=\"ps26307 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:280.69pt\">A summary of financial derivatives implemented by the Group </span><span class=\"f charStyle-58d8bcbe ps26305\" style=\"width:98.22pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26306\" style=\"width:117.26pt\">, broken down by hedging<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26308 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:110.35pt\">strategy, is shown below.<span class=\"f ps21\"> </span></span></div><div class=\"ps26310 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:169.99pt\">Derivatives used for fair value hedging</span><span class=\"f charStyle-58d8bcbe ps26309\" style=\"width:2.77pt\"> </span></div><div class=\"ps26312 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:103.79pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26311\" style=\"width:392.42pt\">, certain Group subsidiaries have contracts for hedging payables and receivables in</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps26313 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">foreign currency in place that meet the requirements to be defined as fair value hedging instruments. These</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps26314 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">contracts were negotiated to match maturities with incoming and outgoing cash flows resulting from sales and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps26315 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:41.13pt\">purchase</span><span class=\"f charStyle-bdf8be45 ps2595\" style=\"width:454.98pt\"><span style=\"background-color:inherit\">s in individual currencies. At the reporting date the valuation of these contracts gave rise to the</span></span><span class=\"f charStyle-bdf8be45 ps63\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26320 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:69.02pt\"><span style=\"background-color:inherit\">reporting of ass</span></span><span class=\"f charStyle-58d8bcbe ps26316\" style=\"width:24.5pt\">ets of</span><span class=\"f charStyle-58d8bcbe ps26317\" style=\"width:178.22pt\"> \u20ac0.6 million and liabilities of \u20ac0.1 million</span><span class=\"f charStyle-58d8bcbe ps26318\" style=\"width:6.17pt\"> (</span><span class=\"f charStyle-bdf8be45 ps26319\" style=\"width:218.28pt\"><span style=\"background-color:inherit\">\u20ac0.9 million of assets and \u20ac4.2 million of liabilities</span></span><span class=\"f charStyle-bdf8be45 ps465\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26322 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:38.89pt\"><span style=\"background-color:inherit\">in 2024).</span></span><span class=\"f charStyle-bdf8be45 ps26321\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26323 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Gains and losses on the hedged and hedging instruments used in all the Group\u2019s fair value hedges,</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps26325 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:216.67pt\">corresponding to the contracts mentioned above,</span><span class=\"f charStyle-bdf8be45 ps26324\" style=\"width:105.55pt\"><span style=\"background-color:inherit\"> are summarised below.</span></span></div><div class=\"ps26338 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:252.75pt\"></td><td style=\"padding:0;width:121.5pt\"></td><td style=\"padding:0;width:121.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8246 ss1040\"><div><div class=\"ps476 ss1039\"><span class=\"f charStyle-183bdf94 ps26327\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26328 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps25460\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9583 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps25460\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18341 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps14653\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9589 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps14653\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Gains on hedging instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26330 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9592 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Losses on hedging instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26332 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26331\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9595 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26333\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-ba8ac8da ps132\">Total gains (losses) on hedging instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26334 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26329\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9599 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26329\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Gains on hedged items<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26335 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9603 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">3.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Losses on hedged items<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26336 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26333\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9607 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26333\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-ba8ac8da ps132\">Total gains (losses) on hedged items<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26337 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26333\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9611 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26329\">2.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:252.81pt\">Hedging derivatives not reported using hedge accounting</span><div class=\"ps9895 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:470.68pt\">These instruments are mainly related to hedges of future purchases in currencies other than the \u20ac. </span><span class=\"f charStyle-58d8bcbe ps26391\" style=\"width:25.45pt\">At 31</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps15455 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:72.28pt\">December 2025</span><span class=\"f charStyle-58d8bcbe ps26392\" style=\"width:97.9pt\">, financial assets of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26393\" style=\"width:13.89pt\">1.3</span><span class=\"f charStyle-58d8bcbe ps26394\" style=\"width:151.3pt\"> million and financial liabilities of </span><span class=\"f charStyle-58d8bcbe ps26395\" style=\"width:5.56pt\">\u20ac</span><span class=\"f charStyle-58d8bcbe ps26396\" style=\"width:13.89pt\">0.3</span><span class=\"f charStyle-58d8bcbe ps26397\" style=\"width:26.69pt\"> millio</span><span class=\"f charStyle-58d8bcbe ps26398\" style=\"width:91.23pt\">n were recognised (</span><span class=\"f charStyle-58d8bcbe ps26399\" style=\"width:23.37pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps3764 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2024</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:90.53pt\"> financial assets of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26400\" style=\"width:13.89pt\">0.4</span><span class=\"f charStyle-58d8bcbe ps26401\" style=\"width:149.96pt\"> million and financial liabilities of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26402\" style=\"width:13.89pt\">1.5</span><span class=\"f charStyle-58d8bcbe ps26403\" style=\"width:95.52pt\"> million, respectively).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-506": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Other Non-Current Assets<span id=\"i89d0d697133342faa349ccf8ec3f78a4\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps22776 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Equity investment in other companies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">9.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current receivables from controlling shareholder<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">36.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">98.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-505": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Other Non-Current Assets<span id=\"i89d0d697133342faa349ccf8ec3f78a4\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps22776 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Equity investment in other companies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">9.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current receivables from controlling shareholder<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">36.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">98.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22785 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Other Current Assets<span id=\"i388c5f7457034820a11a77bdaa37cdb9\"></span></span></div><div class=\"ps22787 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-a745408e ps56\">Disclosure</span></div><div class=\"ps22795 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other receivables from tax authorities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">49.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">49.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Prepaid expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">28.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">29.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Advances and other receivables from suppliers<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">12.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">10.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Receivables from personnel<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">2.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Receivables from Parent Company for tax consolidation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22788 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">4.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22791 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">4.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Other current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22793 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">102.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">96.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:220.44pt\">Other receivables from tax authorities, totalling \u20ac</span><span class=\"f charStyle-58d8bcbe ps22796\" style=\"width:19.45pt\">49.9</span><span class=\"f charStyle-58d8bcbe ps22797\" style=\"width:256.33pt\"> million, primarily comprised \u20ac40.6 million for VAT (\u20ac43.3</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps11271 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:282.18pt\">million in 2024) and \u20ac3.7 million for excise duties (\u20ac4.5 in 2024).</span><span class=\"f charStyle-58d8bcbe ps22798\" style=\"width:2.77pt\"> </span></div><div class=\"ps22806 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22799\">other receivables\u207d\u00b9\u207e<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22800\">provision for bad debt<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Not overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">72.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22801\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Overdue since<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22769\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22801\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">less than 30 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">30-90 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22788 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">2.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22801\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22791 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Total receivables broken down by maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22793 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">76.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22801\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Amount impaired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22802 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22801\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22803 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22804 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">74.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22805 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21340 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:190.46pt\">The item does not include prepaid expenses for \u20ac28.3 million.</span></div><div class=\"ps22808 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22799\">other receivables\u207d\u00b9\u207e<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22800\">provision for bad debt<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Not overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">67.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22801\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Overdue since<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22769\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22801\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22801\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total receivables broken down by maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">67.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22801\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Amount impaired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22788 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22801\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22791 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">66.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22809 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:139.17pt\">The item does not include prepaid expenses.<span class=\"f ps21\"> </span></span></div><div class=\"ps22811 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">The following tables provide information on the credit risk exposure of the Group\u2019s other current receivables</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22812 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">using a provisional matrix which reflects the low risk level connected with the specific counterpart of these</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22813 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:53.34pt\">receivables.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:42pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:38.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22817 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-40131897 ps22815\">other current receivable days past due</span><span class=\"f charStyle-85922b7e ps22816\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss381\"><div><div class=\"ps979 ss179\"><span class=\"f charStyle-183bdf94 ps22818\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22821 ss381\"><div><div class=\"ps2776 ss179\"><span class=\"f charStyle-183bdf94 ps22819\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss179\"><span class=\"f charStyle-183bdf94 ps22820\">30 days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22823 ss381\"><div><div class=\"ps2776 ss179\"><span class=\"f charStyle-183bdf94 ps4376\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss179\"><span class=\"f charStyle-183bdf94 ps22822\">days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps12386 ss1401\"><div><div class=\"ps979 ss1233\"><span class=\"f charStyle-183bdf94 ps22824\">1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22825 ss1210\"><div><div class=\"ps979 ss271\"><span class=\"f charStyle-183bdf94 ps4596\">5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22827 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps22826\">more than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps13334\">5 years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22828 ss381\"><div><div class=\"ps979 ss179\"><span class=\"f charStyle-183bdf94 ps4034\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16087 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22830 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12395 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps15003\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16090 ss272\"><div><div class=\"ps485 ss271\"><span class=\"f charStyle-183bdf94 ps6402\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16036 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps6606\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22831 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4132\"></span><span class=\"ps4132\">0.8</span><span class=\"ps4057\">%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16096 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22833\"></span><span class=\"ps22833\">-</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22834 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22833\"></span><span class=\"ps22833\">-</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12402 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4020\"></span><span class=\"ps4020\">1.4</span><span class=\"ps22835\">%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16098 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22836\"></span><span class=\"ps22836\">-</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16045 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22837\"></span><span class=\"ps22837\">-</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22838 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4132\"></span><span class=\"ps4132\">2.1</span><span class=\"ps4057\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Estimated total gross carrying amount at default<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22839 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6710\">72.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16103 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6704\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22840 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6704\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps12406 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps16508\">2.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16105 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps12892\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16054 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22841 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6710\">76.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Provision for expected credit losses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22842 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6732\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16111 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22843 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps12411 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps22844\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16113 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16064 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22845 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6732\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3136 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:190.46pt\">The item does not include prepaid expenses for \u20ac28.3 million.</span></div><div class=\"ps22847 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:42pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:38.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22817 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps22846\">other current receivable days past due<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss381\"><div><div class=\"ps979 ss179\"><span class=\"f charStyle-183bdf94 ps22818\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22821 ss381\"><div><div class=\"ps2776 ss179\"><span class=\"f charStyle-183bdf94 ps22819\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss179\"><span class=\"f charStyle-183bdf94 ps22820\">30 days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22823 ss381\"><div><div class=\"ps2776 ss179\"><span class=\"f charStyle-183bdf94 ps4376\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss179\"><span class=\"f charStyle-183bdf94 ps22822\">days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps12386 ss1401\"><div><div class=\"ps979 ss1233\"><span class=\"f charStyle-183bdf94 ps22824\">1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22825 ss1210\"><div><div class=\"ps979 ss271\"><span class=\"f charStyle-183bdf94 ps4596\">5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22827 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps22826\">more than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps13334\">5 years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22828 ss381\"><div><div class=\"ps979 ss179\"><span class=\"f charStyle-183bdf94 ps4034\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16087 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22830 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12395 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps15003\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16090 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps6402\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16036 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps6606\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22831 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4132\"></span><span class=\"ps4132\">0.5%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16096 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22834 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12402 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4020\"></span><span class=\"ps4020\">0.2%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16098 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16045 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22838 ss187\"><div><div class=\"ps2415 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4132\"></span><span class=\"ps4132\">0.7%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Estimated total gross carrying amount at default<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22839 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6710\">96.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16103 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6704\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22840 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12406 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps16508\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16105 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16054 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22841 ss187\"><div><div class=\"ps2415 ss179\"><span class=\"f charStyle-183bdf94 ps6710\">97.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Provision for expected credit losses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22842 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6732\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16111 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22843 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12411 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps22844\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16113 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16064 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22845 ss187\"><div><div class=\"ps2415 ss179\"><span class=\"f charStyle-183bdf94 ps6732\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-504": {
   "value": "<div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Other Non-Current Assets<span id=\"i89d0d697133342faa349ccf8ec3f78a4\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps22776 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Equity investment in other companies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">9.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current receivables from controlling shareholder<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">36.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">98.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22785 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Other Current Assets<span id=\"i388c5f7457034820a11a77bdaa37cdb9\"></span></span></div><div class=\"ps22787 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-a745408e ps56\">Disclosure</span></div><div class=\"ps22795 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other receivables from tax authorities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">49.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">49.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Prepaid expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">28.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">29.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Advances and other receivables from suppliers<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">12.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">10.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Receivables from personnel<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">2.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Receivables from Parent Company for tax consolidation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22788 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">4.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22791 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">4.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Other current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22793 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">102.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">96.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:220.44pt\">Other receivables from tax authorities, totalling \u20ac</span><span class=\"f charStyle-58d8bcbe ps22796\" style=\"width:19.45pt\">49.9</span><span class=\"f charStyle-58d8bcbe ps22797\" style=\"width:256.33pt\"> million, primarily comprised \u20ac40.6 million for VAT (\u20ac43.3</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps11271 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:282.18pt\">million in 2024) and \u20ac3.7 million for excise duties (\u20ac4.5 in 2024).</span><span class=\"f charStyle-58d8bcbe ps22798\" style=\"width:2.77pt\"> </span></div><div class=\"ps22806 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22799\">other receivables\u207d\u00b9\u207e<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22800\">provision for bad debt<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Not overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">72.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22801\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Overdue since<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22769\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22801\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">less than 30 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">30-90 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22788 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">2.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22801\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22791 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Total receivables broken down by maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22793 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">76.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22801\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Amount impaired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22802 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22801\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22803 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22804 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">74.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22805 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21340 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:190.46pt\">The item does not include prepaid expenses for \u20ac28.3 million.</span></div><div class=\"ps22808 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22799\">other receivables\u207d\u00b9\u207e<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22800\">provision for bad debt<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Not overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">67.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22801\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Overdue since<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22769\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22801\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22801\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total receivables broken down by maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">67.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22801\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Amount impaired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22788 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22801\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22791 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">66.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22809 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:139.17pt\">The item does not include prepaid expenses.<span class=\"f ps21\"> </span></span></div><div class=\"ps22811 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">The following tables provide information on the credit risk exposure of the Group\u2019s other current receivables</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22812 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">using a provisional matrix which reflects the low risk level connected with the specific counterpart of these</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22813 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:53.34pt\">receivables.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:42pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:38.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22817 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-40131897 ps22815\">other current receivable days past due</span><span class=\"f charStyle-85922b7e ps22816\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss381\"><div><div class=\"ps979 ss179\"><span class=\"f charStyle-183bdf94 ps22818\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22821 ss381\"><div><div class=\"ps2776 ss179\"><span class=\"f charStyle-183bdf94 ps22819\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss179\"><span class=\"f charStyle-183bdf94 ps22820\">30 days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22823 ss381\"><div><div class=\"ps2776 ss179\"><span class=\"f charStyle-183bdf94 ps4376\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss179\"><span class=\"f charStyle-183bdf94 ps22822\">days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps12386 ss1401\"><div><div class=\"ps979 ss1233\"><span class=\"f charStyle-183bdf94 ps22824\">1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22825 ss1210\"><div><div class=\"ps979 ss271\"><span class=\"f charStyle-183bdf94 ps4596\">5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22827 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps22826\">more than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps13334\">5 years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22828 ss381\"><div><div class=\"ps979 ss179\"><span class=\"f charStyle-183bdf94 ps4034\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16087 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22830 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12395 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps15003\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16090 ss272\"><div><div class=\"ps485 ss271\"><span class=\"f charStyle-183bdf94 ps6402\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16036 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps6606\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22831 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4132\"></span><span class=\"ps4132\">0.8</span><span class=\"ps4057\">%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16096 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22833\"></span><span class=\"ps22833\">-</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22834 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22833\"></span><span class=\"ps22833\">-</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12402 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4020\"></span><span class=\"ps4020\">1.4</span><span class=\"ps22835\">%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16098 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22836\"></span><span class=\"ps22836\">-</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16045 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22837\"></span><span class=\"ps22837\">-</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22838 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4132\"></span><span class=\"ps4132\">2.1</span><span class=\"ps4057\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Estimated total gross carrying amount at default<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22839 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6710\">72.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16103 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6704\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22840 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6704\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps12406 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps16508\">2.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16105 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps12892\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16054 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22841 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6710\">76.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Provision for expected credit losses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22842 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6732\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16111 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22843 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps12411 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps22844\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16113 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16064 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22845 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6732\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3136 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:190.46pt\">The item does not include prepaid expenses for \u20ac28.3 million.</span></div><div class=\"ps22847 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:42pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:38.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22817 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps22846\">other current receivable days past due<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss381\"><div><div class=\"ps979 ss179\"><span class=\"f charStyle-183bdf94 ps22818\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22821 ss381\"><div><div class=\"ps2776 ss179\"><span class=\"f charStyle-183bdf94 ps22819\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss179\"><span class=\"f charStyle-183bdf94 ps22820\">30 days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22823 ss381\"><div><div class=\"ps2776 ss179\"><span class=\"f charStyle-183bdf94 ps4376\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss179\"><span class=\"f charStyle-183bdf94 ps22822\">days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps12386 ss1401\"><div><div class=\"ps979 ss1233\"><span class=\"f charStyle-183bdf94 ps22824\">1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22825 ss1210\"><div><div class=\"ps979 ss271\"><span class=\"f charStyle-183bdf94 ps4596\">5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22827 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps22826\">more than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps13334\">5 years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22828 ss381\"><div><div class=\"ps979 ss179\"><span class=\"f charStyle-183bdf94 ps4034\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16087 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22830 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12395 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps15003\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16090 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps6402\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16036 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps6606\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22831 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4132\"></span><span class=\"ps4132\">0.5%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16096 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22834 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12402 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4020\"></span><span class=\"ps4020\">0.2%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16098 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16045 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22838 ss187\"><div><div class=\"ps2415 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4132\"></span><span class=\"ps4132\">0.7%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Estimated total gross carrying amount at default<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22839 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6710\">96.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16103 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6704\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22840 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12406 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps16508\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16105 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16054 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22841 ss187\"><div><div class=\"ps2415 ss179\"><span class=\"f charStyle-183bdf94 ps6710\">97.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Provision for expected credit losses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22842 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6732\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16111 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22843 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12411 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps22844\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16113 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16064 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22845 ss187\"><div><div class=\"ps2415 ss179\"><span class=\"f charStyle-183bdf94 ps6732\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-509": {
   "value": "<div class=\"ps22785 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Other Current Assets<span id=\"i388c5f7457034820a11a77bdaa37cdb9\"></span></span></div><div class=\"ps22787 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-a745408e ps56\">Disclosure</span></div><div class=\"ps22795 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other receivables from tax authorities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">49.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">49.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Prepaid expenses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">28.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">29.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Advances and other receivables from suppliers<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">12.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">10.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Receivables from personnel<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">2.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Receivables from Parent Company for tax consolidation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22788 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">4.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22791 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">4.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Other current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22793 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">102.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">96.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11270 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:220.44pt\">Other receivables from tax authorities, totalling \u20ac</span><span class=\"f charStyle-58d8bcbe ps22796\" style=\"width:19.45pt\">49.9</span><span class=\"f charStyle-58d8bcbe ps22797\" style=\"width:256.33pt\"> million, primarily comprised \u20ac40.6 million for VAT (\u20ac43.3</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps11271 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:282.18pt\">million in 2024) and \u20ac3.7 million for excise duties (\u20ac4.5 in 2024).</span><span class=\"f charStyle-58d8bcbe ps22798\" style=\"width:2.77pt\"> </span></div><div class=\"ps22806 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22799\">other receivables\u207d\u00b9\u207e<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22800\">provision for bad debt<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Not overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">72.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22801\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Overdue since<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22769\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22801\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">less than 30 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">30-90 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22788 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">2.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22801\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22791 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Total receivables broken down by maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22793 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">76.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22801\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Amount impaired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22802 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22801\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22803 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22804 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">74.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22805 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21340 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:190.46pt\">The item does not include prepaid expenses for \u20ac28.3 million.</span></div><div class=\"ps22808 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22799\">other receivables\u207d\u00b9\u207e<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22800\">provision for bad debt<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Not overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">67.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22801\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Overdue since<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22769\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22801\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22801\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total receivables broken down by maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">67.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22801\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Amount impaired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22788 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22801\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22791 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">66.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22809 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:139.17pt\">The item does not include prepaid expenses.<span class=\"f ps21\"> </span></span></div><div class=\"ps22811 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">The following tables provide information on the credit risk exposure of the Group\u2019s other current receivables</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22812 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">using a provisional matrix which reflects the low risk level connected with the specific counterpart of these</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22813 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:53.34pt\">receivables.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:42pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:38.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22817 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-40131897 ps22815\">other current receivable days past due</span><span class=\"f charStyle-85922b7e ps22816\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss381\"><div><div class=\"ps979 ss179\"><span class=\"f charStyle-183bdf94 ps22818\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22821 ss381\"><div><div class=\"ps2776 ss179\"><span class=\"f charStyle-183bdf94 ps22819\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss179\"><span class=\"f charStyle-183bdf94 ps22820\">30 days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22823 ss381\"><div><div class=\"ps2776 ss179\"><span class=\"f charStyle-183bdf94 ps4376\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss179\"><span class=\"f charStyle-183bdf94 ps22822\">days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps12386 ss1401\"><div><div class=\"ps979 ss1233\"><span class=\"f charStyle-183bdf94 ps22824\">1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22825 ss1210\"><div><div class=\"ps979 ss271\"><span class=\"f charStyle-183bdf94 ps4596\">5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22827 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps22826\">more than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps13334\">5 years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22828 ss381\"><div><div class=\"ps979 ss179\"><span class=\"f charStyle-183bdf94 ps4034\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16087 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22830 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12395 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps15003\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16090 ss272\"><div><div class=\"ps485 ss271\"><span class=\"f charStyle-183bdf94 ps6402\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16036 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps6606\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22831 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4132\"></span><span class=\"ps4132\">0.8</span><span class=\"ps4057\">%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16096 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22833\"></span><span class=\"ps22833\">-</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22834 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22833\"></span><span class=\"ps22833\">-</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12402 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4020\"></span><span class=\"ps4020\">1.4</span><span class=\"ps22835\">%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16098 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22836\"></span><span class=\"ps22836\">-</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16045 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94\"><span class=\"ps22837\"></span><span class=\"ps22837\">-</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22838 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4132\"></span><span class=\"ps4132\">2.1</span><span class=\"ps4057\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Estimated total gross carrying amount at default<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22839 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6710\">72.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16103 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6704\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22840 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6704\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps12406 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps16508\">2.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16105 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps12892\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16054 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22841 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6710\">76.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Provision for expected credit losses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22842 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6732\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16111 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22843 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps12411 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps22844\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16113 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16064 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22845 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6732\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3136 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:190.46pt\">The item does not include prepaid expenses for \u20ac28.3 million.</span></div><div class=\"ps22847 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:42pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:38.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22817 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps22846\">other current receivable days past due<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss381\"><div><div class=\"ps979 ss179\"><span class=\"f charStyle-183bdf94 ps22818\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22821 ss381\"><div><div class=\"ps2776 ss179\"><span class=\"f charStyle-183bdf94 ps22819\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss179\"><span class=\"f charStyle-183bdf94 ps22820\">30 days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22823 ss381\"><div><div class=\"ps2776 ss179\"><span class=\"f charStyle-183bdf94 ps4376\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss179\"><span class=\"f charStyle-183bdf94 ps22822\">days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps12386 ss1401\"><div><div class=\"ps979 ss1233\"><span class=\"f charStyle-183bdf94 ps22824\">1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22825 ss1210\"><div><div class=\"ps979 ss271\"><span class=\"f charStyle-183bdf94 ps4596\">5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22827 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps22826\">more than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps13334\">5 years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22828 ss381\"><div><div class=\"ps979 ss179\"><span class=\"f charStyle-183bdf94 ps4034\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16087 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22830 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12395 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps15003\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16090 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps6402\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16036 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps6606\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22831 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6468\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4132\"></span><span class=\"ps4132\">0.5%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16096 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22834 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12402 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4020\"></span><span class=\"ps4020\">0.2%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16098 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16045 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22838 ss187\"><div><div class=\"ps2415 ss179\"><span class=\"f charStyle-183bdf94\"><span class=\"ps4132\"></span><span class=\"ps4132\">0.7%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Estimated total gross carrying amount at default<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22839 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6710\">96.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16103 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps6704\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22840 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12406 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps16508\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16105 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16054 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22841 ss187\"><div><div class=\"ps2415 ss179\"><span class=\"f charStyle-183bdf94 ps6710\">97.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Provision for expected credit losses<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22842 ss187\"><div><div class=\"ps485 ss179\"><span class=\"f charStyle-183bdf94 ps6732\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16111 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22843 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps8312\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12411 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps22844\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16113 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps14492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16064 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps21454\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22845 ss187\"><div><div class=\"ps2415 ss179\"><span class=\"f charStyle-183bdf94 ps6732\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-512": {
   "value": "<div class=\"ps22849 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vi.\u00a0  Other Non-Current Liabilities<span id=\"ie46aa3a946c84348a2fbbb94c09b7a22\"></span></span><span class=\"f charStyle-6c6fcc93 ps22848\"> </span></div><div class=\"ps22855 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure<span class=\"f ps21\"> </span></span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22856 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other employee benefits (including retention incentive)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">12.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">18.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:114.29pt\">Social security on share-based plans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">1.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other share benefits long-term (cash settled plans)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Profit sharing<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Other non-current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22788 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">19.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">23.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-511": {
   "value": "<span class=\"f charStyle-6c6fcc93 ps1243\">vi.\u00a0  Other Non-Current Liabilities<span id=\"ie46aa3a946c84348a2fbbb94c09b7a22\"></span></span><div class=\"ps22855 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure<span class=\"f ps21\"> </span></span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22856 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other employee benefits (including retention incentive)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">12.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">18.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:114.29pt\">Social security on share-based plans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">1.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other share benefits long-term (cash settled plans)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Profit sharing<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Other non-current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22788 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">19.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">23.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22857 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Other Current Liabilities<span id=\"i4dcf62d536674db9955edb544446bf0b\"></span></span></div><div class=\"ps22858 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps22859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps22861 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.25pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps485 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.25pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps485 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Payables to staff<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22860\">111.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">105.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Payables to agents<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Deferred income<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">6.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Amounts due to controlling shareholder for Group VAT<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">2.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Value added tax<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22788 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">35.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">34.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Tax on alcohol production<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22791 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">37.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">47.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Withholding and miscellaneous taxes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22793 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">26.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">12.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22802 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">7.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22803 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">9.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Other current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22804 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">228.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22805 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">221.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22867 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:311.25pt\"></td><td style=\"padding:0;width:184.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22862 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps17344\">other payables to third parties<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22864 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps22863\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-183bdf94 ps132\">On demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4514 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps22865\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-183bdf94 ps132\">Due within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4526 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps22866\">206.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4538 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-ba8ac8da ps22866\">228.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22873 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps22868\" style=\"width:16.62pt\">\u00a0 \u00a0 \u00a0 </span><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:311.25pt\"></td><td style=\"padding:0;width:184.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22862 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps17344\">other payables to third parties<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22864 ss1740\"><div><div class=\"ps22869 ss1041\"><span class=\"f charStyle-183bdf94 ps22863\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-183bdf94 ps132\">On demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22870 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps22865\">18.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1741\"><div><div class=\"ps22869 ss1628\"><span class=\"f charStyle-183bdf94 ps132\">Due within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22871 ss1740\"><div><div class=\"ps22869 ss1041\"><span class=\"f charStyle-183bdf94 ps22866\">203.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2371 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22872 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-ba8ac8da ps22866\">221.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-510": {
   "value": "<span class=\"f charStyle-6c6fcc93 ps1243\">vi.\u00a0  Other Non-Current Liabilities<span id=\"ie46aa3a946c84348a2fbbb94c09b7a22\"></span></span><div class=\"ps22855 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure<span class=\"f ps21\"> </span></span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22856 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other employee benefits (including retention incentive)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">12.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">18.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:114.29pt\">Social security on share-based plans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">1.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other share benefits long-term (cash settled plans)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Profit sharing<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Other non-current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22788 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">19.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">23.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22857 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Other Current Liabilities<span id=\"i4dcf62d536674db9955edb544446bf0b\"></span></span></div><div class=\"ps22858 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps22859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps22861 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.25pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps485 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.25pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps485 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Payables to staff<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22860\">111.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">105.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Payables to agents<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Deferred income<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">6.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Amounts due to controlling shareholder for Group VAT<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">2.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Value added tax<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22788 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">35.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">34.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Tax on alcohol production<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22791 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">37.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">47.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Withholding and miscellaneous taxes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22793 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">26.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">12.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22802 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">7.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22803 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">9.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Other current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22804 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">228.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22805 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">221.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22867 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:311.25pt\"></td><td style=\"padding:0;width:184.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22862 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps17344\">other payables to third parties<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22864 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps22863\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-183bdf94 ps132\">On demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4514 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps22865\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-183bdf94 ps132\">Due within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4526 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps22866\">206.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4538 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-ba8ac8da ps22866\">228.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22873 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps22868\" style=\"width:16.62pt\">\u00a0 \u00a0 \u00a0 </span><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:311.25pt\"></td><td style=\"padding:0;width:184.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22862 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps17344\">other payables to third parties<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22864 ss1740\"><div><div class=\"ps22869 ss1041\"><span class=\"f charStyle-183bdf94 ps22863\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-183bdf94 ps132\">On demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22870 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps22865\">18.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1741\"><div><div class=\"ps22869 ss1628\"><span class=\"f charStyle-183bdf94 ps132\">Due within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22871 ss1740\"><div><div class=\"ps22869 ss1041\"><span class=\"f charStyle-183bdf94 ps22866\">203.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2371 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22872 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-ba8ac8da ps22866\">221.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-513": {
   "value": "<div class=\"ps22857 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Other Current Liabilities<span id=\"i4dcf62d536674db9955edb544446bf0b\"></span></span></div><div class=\"ps22858 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps22859 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps22861 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.25pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps485 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.25pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps485 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Payables to staff<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22860\">111.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">105.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Payables to agents<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Deferred income<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">6.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Amounts due to controlling shareholder for Group VAT<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22774 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22789\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">2.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Value added tax<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22788 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">35.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">34.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Tax on alcohol production<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22791 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">37.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">47.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Withholding and miscellaneous taxes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22793 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">26.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">12.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22802 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">7.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22803 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">9.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Other current liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22804 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">228.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22805 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">221.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22867 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:311.25pt\"></td><td style=\"padding:0;width:184.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22862 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps17344\">other payables to third parties<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22864 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps22863\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-183bdf94 ps132\">On demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4514 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps22865\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-183bdf94 ps132\">Due within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4526 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps22866\">206.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4538 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-ba8ac8da ps22866\">228.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22873 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps22868\" style=\"width:16.62pt\">\u00a0 \u00a0 \u00a0 </span><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:311.25pt\"></td><td style=\"padding:0;width:184.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22862 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps17344\">other payables to third parties<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22864 ss1740\"><div><div class=\"ps22869 ss1041\"><span class=\"f charStyle-183bdf94 ps22863\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-183bdf94 ps132\">On demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22870 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps22865\">18.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1741\"><div><div class=\"ps22869 ss1628\"><span class=\"f charStyle-183bdf94 ps132\">Due within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22871 ss1740\"><div><div class=\"ps22869 ss1041\"><span class=\"f charStyle-183bdf94 ps22866\">203.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2371 ss1629\"><div><div class=\"ps476 ss1628\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22872 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-ba8ac8da ps22866\">221.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-517": {
   "value": "<div class=\"ps22909 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Trade Receivables\u00a0  <span id=\"i8756726cb7184105af5b89300cbcb9d5\"></span></span></div><div class=\"ps22957 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The table below shows the trade receivables, broken down by maturity. In light of the analysis performed on</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22958 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">estimated expected future losses (using the expected credit loss method), trade receivables which are deemed<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22959 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:262.8pt\">not recoverable were balanced by an appropriate provision.</span></div><div class=\"ps22983 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:251.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1746\"><div><div class=\"ps473 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21078 ss668\"><div><div class=\"ps979 ss659\"><span class=\"f charStyle-40131897 ps22961\">trade receivables</span><span class=\"f charStyle-85922b7e ps22962\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22965 ss668\"><div><div class=\"ps1094 ss659\"><span class=\"f charStyle-183bdf94 ps22963\">provision for expected future losses <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss659\"><span class=\"f charStyle-183bdf94 ps22964\">and bad debt</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16021 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22967 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1748\"><div><div class=\"ps485 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Not overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12121 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">245.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6480 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22969\">(5.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16041 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22970\">98.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6498 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(11.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Less than 30 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16050 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">60.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6511 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">30-90 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16060 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">18.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6522 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22973 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">9.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22974 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22975 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22976 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(5.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Due after 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22977 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">1.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22978 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total receivables broken down by maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22979 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">343.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22980 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">Amount impaired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22981 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22971\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22982 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">326.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps22984 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:187.73pt\">This item does not include prepaid expenses for \u20ac1.0 million.<span class=\"f ps21\"> </span></span></div><div class=\"ps22986 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:251.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1746\"><div><div class=\"ps473 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21078 ss668\"><div><div class=\"ps979 ss659\"><span class=\"f charStyle-40131897 ps22961\">trade receivables</span><span class=\"f charStyle-85922b7e ps22962\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22965 ss668\"><div><div class=\"ps1094 ss659\"><span class=\"f charStyle-183bdf94 ps22963\">provision for expected future losses <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss659\"><span class=\"f charStyle-183bdf94 ps22964\">and bad debt</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16021 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22967 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1748\"><div><div class=\"ps485 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Not overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12121 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">333.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6480 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22969\">(6.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16041 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">107.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6498 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Less than 30 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16050 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">60.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6511 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">30-90 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16060 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">29.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6522 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22973 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22974 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22975 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">8.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22976 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(5.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Due after 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22977 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22978 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total receivables broken down by maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22979 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">440.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22980 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(19.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">Amount impaired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22981 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22971\">(19.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22982 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">420.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps22987 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.33pt\">This item does not include prepaid expenses.</span></div><div class=\"ps22993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:171.02pt\">The overdue category decreased to \u20ac</span><span class=\"f charStyle-58d8bcbe ps22989\" style=\"width:19.45pt\">98.2</span><span class=\"f charStyle-58d8bcbe ps22990\" style=\"width:35.83pt\"> million </span><span class=\"f charStyle-58d8bcbe ps22991\" style=\"width:99.06pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22992\" style=\"width:170.87pt\"> and is continuously monitored by the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22995 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:168.69pt\">Group\u2019s credit management functions.</span><span class=\"f charStyle-58d8bcbe ps22994\" style=\"width:2.77pt\"> </span></div><div class=\"ps22999 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:99.29pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22996\" style=\"width:315.47pt\">, the provision for expected future losses and bad debt amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps22997\" style=\"width:19.45pt\">17.4</span><span class=\"f charStyle-58d8bcbe ps22998\" style=\"width:61.92pt\"> million, down</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23004 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:44.98pt\">from the \u20ac</span><span class=\"f charStyle-58d8bcbe ps23000\" style=\"width:19.45pt\">19.9</span><span class=\"f charStyle-58d8bcbe ps23001\" style=\"width:147.75pt\"> million reported at 31 December </span><span class=\"f charStyle-58d8bcbe ps23002\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps23003\" style=\"width:2.77pt\">.</span></div><div class=\"ps23008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:120.13pt\">The following table provid</span><span class=\"f charStyle-58d8bcbe ps23006\" style=\"width:5.56pt\">e</span><span class=\"f charStyle-58d8bcbe ps23007\" style=\"width:370.5pt\">s the probability of default, obtained from external data providers, used for the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps23012 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:301.37pt\">calculation of the expected future losses for each subsidiary, used </span><span class=\"f charStyle-58d8bcbe ps23009\" style=\"width:98.43pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps23010\" style=\"width:23.76pt\"> and </span><span class=\"f charStyle-58d8bcbe ps23011\" style=\"width:72.65pt\">at 31 December</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23014 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps4079\" style=\"width:258.29pt\">, according to the country in which the subsidiary is based.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23013\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:272.25pt\"></td><td style=\"padding:0;width:110.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22082 ss1369\"><div><div class=\"ps2415 ss1368\"><span class=\"f charStyle-183bdf94 ps14722\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Argentina<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22083 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">7.03</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">9.03</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Australia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22085 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.04</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.04</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Austria<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22087 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.07</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Belgium<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22090 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.06</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.06</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Brazil<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22093 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.40</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.35</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Canada<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22095 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.08</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">China<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22096 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.15</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.22</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22098 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.08</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Germany<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22113 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.03</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22803 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.03</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Greece<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22114 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22805 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.11</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">India<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22116 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.09</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23018 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.10</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22118 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23019 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.11</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Jamaica<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22120 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.66</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23020 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.84</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22122 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23021 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.08</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Mexico<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22124 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.27</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23022 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.24</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11650 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">New Zealand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23023 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.04</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23024 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.11</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Peru<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23025 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.23</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23026 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.20</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11659 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Russia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23027 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">4.17</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23028 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">5.59</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11663 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Singapore<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23029 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23030 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.07</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11174 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">South Africa<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23031 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.30</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23032 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.33</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11670 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">South Korea<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23033 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.13</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23034 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.20</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5638 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Spain<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23035 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.06</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23036 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.06</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11177 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Switzerland<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23037 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.03</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23038 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.03</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11178 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">United Kingdom<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23039 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.06</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23040 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.07</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5363 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Ukraine<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23042 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23041\"></span><span class=\"ps23041\">100.00</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23044 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23043\"></span><span class=\"ps23043\">100.00</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11038 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">United States<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23045 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.27</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23046 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.17</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12546 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The tables below set out the information related to the credit risk exposure on the Group\u2019s trade receivables</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps12547 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:107.76pt\">using a provision matrix:</span></div><div class=\"ps23084 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8961 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps23047\">trade receivables days past due<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23048\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23050 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps176\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23049\">30 days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps9493 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23051\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6464 ss1401\"><div><div class=\"ps2776 ss1233\"><span class=\"f charStyle-183bdf94 ps4023\">within 1 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1233\"><span class=\"f charStyle-183bdf94 ps23053\">year</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23056 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23054\">within 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps8429 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23057\">after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23058 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">Total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23059 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16089 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6478 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps15076\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23060 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23061 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23062 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.7%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23064 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.5%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16097 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.4%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6497 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps8248\">0.7%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23065 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.7%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23066 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.2%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23067 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23063\">5.1%</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-40131897 ps132\">Estimated total gross carrying amount at default</span><span class=\"f charStyle-85922b7e ps23068\"><sup> (1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22839 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23069\">245.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23071 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">60.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16104 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">18.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6510 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23072\">9.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23074 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23075 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">1.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23076 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23069\">343.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">provision for expected future losses and bad debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22842 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(5.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23078 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16112 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6521 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23079\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23080 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(5.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23081 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23083 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23082\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23085 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.33pt\">This item does not include prepaid expenses.</span></div><div class=\"ps23087 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8961 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps23047\">trade receivables days past due<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23048\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23050 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps176\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23049\">30 days</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9493 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23051\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">days</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6464 ss1401\"><div><div class=\"ps2776 ss1233\"><span class=\"f charStyle-183bdf94 ps4023\">within 1 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1233\"><span class=\"f charStyle-183bdf94 ps23053\">year</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23056 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23054\">within 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8429 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23057\">after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23058 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">Total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23059 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16089 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6478 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps15076\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23060 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23061 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23062 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.5%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23064 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.4%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16097 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.4%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6497 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps8248\">0.6%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23065 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.3%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23066 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.1%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23067 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-ba8ac8da ps23063\">4.5%</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-40131897 ps132\">Estimated total gross carrying amount at default</span><span class=\"f charStyle-85922b7e ps23068\"><sup> (1)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22839 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23069\">333.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23071 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">60.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16104 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">29.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6510 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23072\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23074 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">8.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23075 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23076 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23069\">440.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">provision for expected future losses and bad debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22842 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(6.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23078 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16112 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6521 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23079\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23080 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(5.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23081 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23083 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23082\">(19.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23089 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.33pt\">This item does not include prepaid expenses.</span><span class=\"f charStyle-40131897 ps23088\" style=\"width:3.88pt\">\u00a0 </span></div><div class=\"ps23091 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The amount of the provision and the level of utilisation over the years confirms that overall the Group is exposed</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps23093 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:374.13pt\">to a cluster of customers and markets that are not significantly affected by credit risk.</span><span class=\"f charStyle-58d8bcbe ps23092\" style=\"width:5.54pt\">\u00a0 <span class=\"f ps21\"> </span></span></div><div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:135.52pt\">Impairment of a financial asset</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets are tested for recoverability by applying an impairment model based on the expected credit loss</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:32.76pt\">(\u2018ECL\u2019).</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group applies the simplified method for trade receivables, which considers the probability of default over</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">the financial instrument\u2019s life (lifetime expected credit losses). In making impairment assessments, the Group</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">considers its historical credit loss experience, adjusted for forward-looking factors specific to the nature of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Group\u2019s receivables and economic environment. If any such evidence exists, an impairment loss is recognised</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">under selling, general and administrative expenses. More specifically, non-performing receivables are analysed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">based on the debtor\u2019s creditworthiness and ability to pay the sums due, as well as the degree of effective</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.92pt\">coverage provided by any collateral and personal guarantees in existence.</span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">With regard to trade receivables, two approaches are applied to estimate impairment, based on the specific</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">characteristics of the individual countries in which the Group operates and its constant growth at a global level:</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">one is a matrix-based model and the other applies the probability of default (\u2018PD\u2019) obtained from external</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">sources specialising in the country in which each subsidiary is located. The provision matrix, including the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:331.6pt\">overall actual result of the year, is reported in the relevant disclosure notes.</span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">A financial asset is impaired when internal or external information indicates that it is unlikely that the Group will</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:154.97pt\">receive the full contractual amount.</span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Lastly, with regard to other financial assets measured at amortised cost, and, more specifically, cash and cash</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">equivalents, the impact in terms of expected loss is not considered material and for this reason no adjustment is</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:111.66pt\">made to the book values.</span><div class=\"ps24364 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Nature and Extent of the Risks Arising from Financial Instruments<span id=\"i266b5b9b505e4b3b83e47d24ed3989ab\"></span></span></div><div class=\"ps24366 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">The Group\u2019s main financial instruments include current accounts, short-term deposits, short and long-term loans</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps24367 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">due to banks, lease payables and bonds. The purpose of these is to finance the Group\u2019s operating activities. In</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps2949 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:373.3pt\">addition, the Group has trade receivables and payables resulting from its operations.<span class=\"f ps21\"> </span></span></div><div class=\"ps19753 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">The main financial risks to which the Group is exposed are market (currency and interest rate risk), credit and</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps24368 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:448.65pt\">liquidity risk. These risks are described below, together with an explanation of how they are managed.<span class=\"f ps21\"> </span></span></div><div class=\"ps24369 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">To cover these risks, the Group uses derivatives, primarily interest-rate swaps, cross-currency swaps and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1989 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:289.4pt\">forward contracts, to hedge interest-rate and exchange-rate risks.<span class=\"f ps21\"> </span></span></div><div class=\"ps24371 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:49.46pt\">Credit risk<span id=\"ic23e4c83e3504d38adf608b7c1926236\"></span></span></div><div class=\"ps9369 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">In specific markets in which the Group operates, sales are concentrated in a limited number of key customers.</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.59pt\"> </span></div><div class=\"ps9370 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Therefore, a possible change in the priorities, or deterioration of the financial conditions of these customers</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps9371 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">could have significant adverse effects on the Group\u2019s business and outlook. Furthermore, if these key</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9375 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">customers view the contractual terms and conditions as no longer acceptable, they may ask for them to be</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9377 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">renegotiated, resulting in less favourable terms and conditions for the Group. Examples of mitigation measures:</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9378 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">monitoring of customers at market level, strategy and innovation development at corporate and market-level,</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2958 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:148.66pt\">multi-country investment strategy.</span><span class=\"f charStyle-58d8bcbe ps24372\" style=\"width:2.77pt\"> </span></div><div class=\"ps4078 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">With regard to trade transactions, the Group works with medium-sized and large customers (large-scale<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps4082 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">retailers, domestic and international distributors) on which credit checks are performed in advance. Each</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps4083 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">company carries out an assessment and control procedure for its customer portfolio, constantly monitoring</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps4084 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">amounts received. In the event of excessive or repeated delays, supplies are suspended. Historically, losses on</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps2010 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">receivables represent a very low percentage of revenues and outstanding annual receivables, and significant</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps24373 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:392.76pt\">hedging and/or insurance is put in place where there is uncertainty about cash collection.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Financial transactions are carried out with leading domestic and international institutions, monitored ratings to</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:168.31pt\">minimise counterparty insolvency risk.</span><span class=\"f charStyle-58d8bcbe ps6775\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The maximum risk associated with commercial and financial transactions at the reporting date is equivalent to</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">the net carrying amount of these assets, also taking into account the risk of expected credit losses estimated by</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:205.54pt\">the Group using the business model identified.</span></div><div class=\"ps24374 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:60.46pt\">Liquidity risk<span id=\"i31545b239eba47ff963738e7c3981a10\"></span></span></div><div class=\"ps24375 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">The Group\u2019s ability to generate substantial cash flow through its operations minimises liquidity risk. This risk is</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps24376 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:356.79pt\">defined as the difficulty in raising funds to cover the Group\u2019s financial obligations.<span class=\"f ps21\"> </span></span></div><div class=\"ps24379 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:227.48pt\">The table below summarises financial liabilities </span><span class=\"f charStyle-58d8bcbe ps24377\" style=\"width:104.88pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps24378\" style=\"width:163.83pt\"> by maturity, based on contractual</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps4475 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:252.23pt\">repayment obligations, including non-discounted interest.</span></div><div class=\"ps24431 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:176.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1850\"><div><div class=\"ps979 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24380 ss445\"><div><div class=\"ps979 ss433\"><span class=\"f charStyle-183bdf94 ps20436\">on demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps983 ss445\"><div><div class=\"ps979 ss433\"><span class=\"f charStyle-183bdf94 ps5323\">within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24382 ss445\"><div><div class=\"ps2776 ss433\"><span class=\"f charStyle-183bdf94 ps20225\">due in 1 to 2 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss433\"><span class=\"f charStyle-183bdf94 ps24381\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12889 ss445\"><div><div class=\"ps2776 ss433\"><span class=\"f charStyle-183bdf94 ps20225\">due in 3 to 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss433\"><span class=\"f charStyle-183bdf94 ps24381\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24384 ss445\"><div><div class=\"ps2776 ss433\"><span class=\"f charStyle-183bdf94 ps24383\">due after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss433\"><span class=\"f charStyle-183bdf94 ps24381\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18813 ss445\"><div><div class=\"ps979 ss433\"><span class=\"f charStyle-183bdf94 ps24385\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24386 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps991 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24387 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24388 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24389 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24390 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24391 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1002 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">42.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24392 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">592.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6478 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">944.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24393 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">208.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24394 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps8160\">1,788.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss1851\"><div><div class=\"ps476 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24395 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps1014 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">245.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24396 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">234.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6497 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">445.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24397 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24398 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">924.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24399 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps1024 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">22.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24400 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">18.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6510 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">30.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24402 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps24401\">11.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24403 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">81.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Payables for put option and earn-out<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24404 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps1033 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7309\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24405 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7309\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6521 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">49.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24407 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps24406\">114.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24408 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">168.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Other financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24409 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps1047 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">158.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24410 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24411 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24412 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24413 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">158.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Trade payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps24414 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">179.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps5538 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">525.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps24415 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7309\">6.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps24416 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7309\">2.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps24417 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps24418 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">714.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Other non-financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24419 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24420 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">205.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24421 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24422 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7309\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24423 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24424 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">227.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-ba8ac8da ps132\">Total liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24425 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps16687\">201.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24426 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps8160\">1,203.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24427 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps16687\">852.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24428 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps8160\">1,472.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24429 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps16687\">335.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24430 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps8160\">4,064.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24480 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:182.25pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:51pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1853\"><div><div class=\"ps979 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24433 ss984\"><div><div class=\"ps979 ss452\"><span class=\"f charStyle-183bdf94 ps20562\">on demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24203 ss984\"><div><div class=\"ps979 ss452\"><span class=\"f charStyle-183bdf94 ps12118\">within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14913 ss984\"><div><div class=\"ps2776 ss452\"><span class=\"f charStyle-183bdf94 ps18481\">due in 1 to 2 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss452\"><span class=\"f charStyle-183bdf94 ps24434\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8422 ss984\"><div><div class=\"ps2776 ss452\"><span class=\"f charStyle-183bdf94 ps18481\">due in 3 to 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss452\"><span class=\"f charStyle-183bdf94 ps24434\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18650 ss984\"><div><div class=\"ps2776 ss452\"><span class=\"f charStyle-183bdf94 ps24435\">due after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss452\"><span class=\"f charStyle-183bdf94 ps24434\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10499 ss442\"><div><div class=\"ps979 ss429\"><span class=\"f charStyle-183bdf94 ps24436\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24437 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7526\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8659 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7526\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24438 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7526\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24439 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7526\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24440 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7526\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24441 ss860\"><div><div class=\"ps485 ss429\"><span class=\"f charStyle-183bdf94 ps7287\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24442 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24443 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">43.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24444 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">43.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24445 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps20879\">1,216.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11827 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">552.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11781 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps11794\">1,856.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss1854\"><div><div class=\"ps476 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24446 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24447 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">298.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24448 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">213.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24449 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">810.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps18665 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11789 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps11794\">1,322.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24450 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24451 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">21.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24452 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">17.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24453 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">30.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps18674 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24454 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps7296\">72.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Payables for put option and earn-out<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24455 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24456 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24457 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24458 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">49.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19305 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps9098\">114.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24459 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps7341\">168.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Other financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24460 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24461 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24462 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24463 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19310 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24464 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps7349\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Trade payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24465 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">105.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24466 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">565.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24467 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24468 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps18688 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24469 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps7341\">672.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Other non-financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24470 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">17.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24471 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">203.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24472 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24473 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19314 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24474 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps7341\">221.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-ba8ac8da ps132\">Total liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24475 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-ba8ac8da ps7576\">123.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24476 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-ba8ac8da ps20879\">1,138.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24477 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-ba8ac8da ps7576\">275.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24478 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-ba8ac8da ps20879\">2,107.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19315 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-ba8ac8da ps7576\">671.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24479 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-ba8ac8da ps11794\">4,316.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">The Group\u2019s financial payables, except non-current payables with a fixed maturity, consist of short-term bank<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">debt. Thanks to its liquidity and satisfactory generation of cash flow from operations, the Group has sufficient<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">resources to meet its financial commitments at maturity. In addition, there are unused credit lines both</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps24485 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:336.97pt\">committed and uncommitted, that could cover any liquidity requirements </span><span class=\"f charStyle-58d8bcbe ps7401\" style=\"width:159.12pt\">(refer to note 6 ii 'Cash and Cash</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps24487 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:56.9pt\">Equivalents')</span><span class=\"f charStyle-58d8bcbe ps1805\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-58d8bcbe ps24486\" style=\"width:2.77pt\"> </span></div><div class=\"ps24489 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:78.77pt\">Interest rate risk<span id=\"i28e4fa2d16664785b118899e8eadc57c\"></span></span></div><div class=\"ps17527 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:496.1pt\"><span style=\"background-color:inherit\">A breakdown of the effective interest rate, taking all the cost components of the amortised costs into account,</span></span><span class=\"f charStyle-bdf8be45 ps413\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps24490 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:209.38pt\"><span style=\"background-color:inherit\">divided by type of financial liability is as follows.</span><span class=\"f ps21\"> </span></span></div><div class=\"ps24529 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:110.25pt\"></td><td style=\"padding:0;width:126pt\"></td><td style=\"padding:0;width:109.5pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23520 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps24492\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24494 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24493\">nominal interest rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24497 ss1855\"><div><div class=\"ps476 ss40\"><span class=\"f charStyle-40131897 ps24495\">effective interest rate</span><span class=\"f charStyle-85922b7e ps24496\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps901 ss359\"><div><div class=\"ps476 ss358\"><span class=\"f charStyle-183bdf94 ps24498\">maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps24499\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24500 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps24499\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps904 ss359\"><div><div class=\"ps476 ss358\"><span class=\"f charStyle-183bdf94 ps7943\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps4032\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24501 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps4032\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-40131897 ps132\">Loans due to banks</span><span class=\"f charStyle-85922b7e ps23262\"><sup>(2)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24502 ss322\"><div><div class=\"ps2415 ss299\"><span class=\"f charStyle-183bdf94 ps23043\">variable rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24504 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24503\"></span><span class=\"ps24503\">3.99</span><span class=\"ps1654\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps911 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps9106\">2028<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">899.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24505 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps8157\">1,205.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Parent Company bond issues<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">- issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24507 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps24506\">fixed rate 1.250%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24508 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24503\"></span><span class=\"ps24503\">1.42</span><span class=\"ps1654\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps922 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps9106\">2027<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21307 ss183\"><div><div class=\"ps485 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">548.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24509 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">548.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">- issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24510 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps24506\">fixed rate 4.710%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24511 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24503\"></span><span class=\"ps24503\">4.78</span><span class=\"ps1654\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24512 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps9106\">2030<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21309 ss183\"><div><div class=\"ps485 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">299.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24513 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">298.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1369\"><div><div class=\"ps476 ss1368\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:49.37pt\">- issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24514 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps24506\">fixed rate 2.375%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24515 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24503\"></span><span class=\"ps24503\">3.87</span><span class=\"ps1654\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24516 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps9106\">2029<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21854 ss183\"><div><div class=\"ps485 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">522.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24517 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">514.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1369\"><div><div class=\"ps476 ss1368\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:49.37pt\">- issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24518 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps24506\">fixed rate 4.256%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24519 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24503\"></span><span class=\"ps24503\">4.33</span><span class=\"ps1654\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24520 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps9106\">2031<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21856 ss183\"><div><div class=\"ps485 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">219.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24521 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">219.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24523 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps24522\">incremental borrowing rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24525 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94 ps24524\">incremental borrowing rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24527 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps24526\">2027-2032<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21858 ss183\"><div><div class=\"ps485 ss182\"><span class=\"f charStyle-183bdf94 ps20902\">71.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24528 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20902\">77.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24530 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:366.32pt\">Calculated on any difference included in the amortised cost accounting and excluding the effect of hedging derivatives.</span></div><div class=\"ps24533 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.19pt\"><span class=\"f ps21\"> </span><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps24531\" style=\"width:348.47pt\">The figure shown relates to the applied rate and maturity of the loans due to banks by Davide Campari Milano </span><span class=\"f charStyle-40131897 ps24532\" style=\"width:12.95pt\">N.V.</span><span class=\"f charStyle-40131897 ps22911\" style=\"width:127.45pt\"> and Campari America, LLC, responsible</span><span class=\"f charStyle-40131897 ps389\" style=\"width:1.94pt\"> </span></div><div class=\"ps24534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:88.22pt\">for nearly all market funding.<span class=\"f ps21\"> </span></span></div><div class=\"ps22070 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">The Group is exposed to the risk of fluctuating interest rates in respect of its financial assets, loans due to banks</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps22071 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">and lease agreements. Derivative contracts intended to hedge interest rate exposures connected with financing<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">are not subject to established quantitative policies concerning the optimal level of exposure to fixed or variable</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">rates: the Group manages its interest rate risk by having a balanced portfolio of fixed and variable rate loans</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">and borrowings. The preferred exposure to fixed or variable rates is dynamically managed centrally within the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">Group, considering current and future market conditions, the Group's level of indebtedness, business</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:297.97pt\">performance and in the context of the Group's expansion initiatives.</span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:171.26pt\"><span style=\"background-color:inherit\">The Parent Company\u2019s 2020, 2023 an</span></span><span class=\"f charStyle-58d8bcbe ps24535\" style=\"width:252.77pt\">d 2024 bond issues pay interest at a fixed rate. Overall, </span><span class=\"f charStyle-58d8bcbe ps24536\" style=\"width:72.13pt\">at 31 December</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps4079\" style=\"width:460.06pt\">, the nominal exposure of the Group\u2019s total financial debt was 34% (39% in 2024) at variable-rate, while </span><span class=\"f charStyle-58d8bcbe ps24537\" style=\"width:13.89pt\">the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:479.79pt\">effective exposure, including the applicable hedging derivatives, stood at 21% at variable rate (27% in 2024).</span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9d8f533c ps56\" style=\"width:83.87pt\">Sensitivity analysis</span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The table below shows the effects of a possible change in interest rates on the Group\u2019s statement of profit or</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">loss, if all other variables remain constant. A negative value in the table indicates a potential net reduction in</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">profit or loss, while a positive value indicates a potential net increase in this item. The assumptions used with</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:424.96pt\">regard to a potential change in rates are based on an analysis of the trend on the reporting date.</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">With regard to the fixed-rate financial liabilities hedged by interest-rate swaps, the change in the hedging</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">instrument offsets the difference in the underlying liability, with practically no effect on the statement of profit or</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:17.78pt\">loss<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps24538\" style=\"width:2.77pt\">.</span></div><div class=\"ps14124 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:165pt\"></td><td style=\"padding:0;width:104.25pt\"></td><td style=\"padding:0;width:126pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss842\"><div><div class=\"ps476 ss841\"><span class=\"f charStyle-183bdf94 ps132\">profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1084 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-183bdf94 ps132\">increase/decrease<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss322\"><div><div class=\"ps2415 ss299\"><span class=\"f charStyle-183bdf94 ps132\">increase in interest rates<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps2415 ss1000\"><span class=\"f charStyle-183bdf94 ps132\">decrease in interest rates<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss51\"><div><div class=\"ps476 ss50\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1107 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-183bdf94 ps132\">in interest rates in basis point<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24539 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps6275\">+/- 5 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22770 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24540\">(0.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24541 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps4783\">+30/-10 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22772 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24540\">(0.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">Other currencies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24542 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps20926\">+/- 10 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22774 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24543\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-ba8ac8da ps132\">Total effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22788 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-ba8ac8da ps24540\">(1.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss51\"><div><div class=\"ps476 ss50\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22791 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-ba8ac8da ps24544\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21854 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24545 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps6275\">+/- 5 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22793 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24540\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21856 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24546 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps4783\">+30/-10 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22802 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24540\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21858 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">Other currencies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24547 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps20926\">+/- 10 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22804 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24543\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21860 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6300 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-ba8ac8da ps132\">Total effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24548 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-ba8ac8da ps24540\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21862 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24549 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:91.01pt\">Exchange rate risk<span id=\"ie0ee63bce7b140bdaf40a402de335ff2\"></span></span></div><div class=\"ps9930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">The Group develops its business activities globally, and sales in non-\u20ac markets are progressively increasing.</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">However, the establishment of Group companies in countries including the United States, Australia and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Switzerland allows exchange rate risk to be partly hedged, since both costs and income are denominated in the</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:76.7pt\">same currency. </span><span class=\"f charStyle-58d8bcbe ps24550\" style=\"width:419.44pt\">For Campari Group, net exposure to foreign exchange effects is limited to transactions</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">concluded among Group companies relating to certain sales regulated in currencies other than the functional<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">currencies of the companies. Although these transactions represent only a portion of the overall business, the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Group policy regularly determines the net exposure to the primary currencies, to mitigate the residual foreign</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">exchange risk by using forward and option derivatives agreements. Derivative contracts aiming to mitigate</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">currency exchange risks are dynamically and qualitatively managed based on business needs and specific</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">contexts and circumstances. These are not framed within fixed or quantitative policies regarding the percentage</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">of coverage to be achieved. To avoid excessive coverage, the budget for future transactions is typically hedged</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:266.11pt\">at a level between 50% and 90% throughout the whole year.</span></div><div class=\"ps1229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9d8f533c ps56\" style=\"width:83.87pt\">Sensitivity analysis</span></div><div class=\"ps1233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">An analysis was performed on the effects of a possible change in the exchange rates against the \u20ac on the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">statement of profit or loss, keeping all the other variables constant. This analysis does not include the</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Consolidated Financial statements\u2019 effect on translating the financial statements of subsidiaries denominated in</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">a foreign currency following a possible change in exchange rates. The assumptions adopted regarding a</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">potential change in rates are based on an analysis of forecasts provided by financial information agencies on</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">the reporting date. The types of transactions included in this analysis are sales and purchases in any currency</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">other than the Group\u2019s functional currency. The effects on shareholders\u2019 equity are determined by changes in</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps9939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:415.47pt\">the fair value of forward contracts on future transactions, which are used as cash flow hedges.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:179.25pt\"></td><td style=\"padding:0;width:115.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps24551\">net equity<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps9539 ss275\"><div><div class=\"ps485 ss268\"><span class=\"f charStyle-183bdf94 ps132\">increase/decrease<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps132\">increase in exchange rates<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps132\">decrease in exchange rates<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss575\"><div><div class=\"ps476 ss574\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps24552 ss275\"><div><div class=\"ps485 ss268\"><span class=\"f charStyle-ba8ac8da ps132\">in currency rates in %<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps24554 ss275\"><div><div class=\"ps476 ss268\"><span class=\"f charStyle-183bdf94 ps24553\">+1%/-14%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-183bdf94 ps132\">Other currencies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24556 ss275\"><div><div class=\"ps476 ss268\"><span class=\"f charStyle-183bdf94 ps24555\">+11%/-1%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-ba8ac8da ps132\">Total effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">5.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21849\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss575\"><div><div class=\"ps476 ss574\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24558 ss275\"><div><div class=\"ps476 ss268\"><span class=\"f charStyle-183bdf94 ps24557\">+8%/-1%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21853 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21854 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-183bdf94 ps132\">Other currencies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21855 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21856 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-ba8ac8da ps132\">Total effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21857 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21858 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21849\">(9.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:101.99pt\">Market and price risk<span id=\"i35ca45e241024aaabb635a480e68c928\"></span></span></div><div class=\"ps24560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Market risk consists of the possibility that changes in exchange rates, interest rates, or the prices of raw</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps24561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">materials or commodities (alcohol, aromatic herbs, sugar, cereals and agave) could negatively affect the value</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:190.5pt\">of assets, liabilities or expected cash flows.</span></div><div class=\"ps24563 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The price of raw materials depends on a wide variety of factors, which are difficult to forecast and are largely</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps24564 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">beyond the Group\u2019s control. Historically, the Group has had no problem obtaining high-quality quantities of raw</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24565 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">materials. However, it cannot be excluded that the Group could face challenges in getting supplies of raw</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24566 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">materials. The Group is constantly implementing measures aimed at limiting the risk of raw material price</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps24567 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">fluctuations, including co-investments and agricultural production agreements with local producers, the benefits</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24568 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">of which can be seen over the medium-term as they are related to natural growing processes. Moreover, the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24569 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">Group monitors the relationship with key suppliers on an ongoing basis, and specific projects are developed to</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps24571 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:166.66pt\">foster responsible business practices.</span><span class=\"f charStyle-58d8bcbe ps24570\" style=\"width:2.77pt\"> </span></div><div class=\"ps24572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">Campari Group has a substantial inventory of aged product categories, such as Bourbon whiskey, Scotch</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps24573 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">whisky, Canadian whisky, rum, cognac and tequila, which mature over lengthy periods. While the maturing</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps24574 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">inventory is stored at numerous locations around the world, the loss, as a result of contamination, fire or other</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps24575 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">natural disaster, or destruction resulting from negligence or the acts of third parties or otherwise, of all or a</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps18871 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">portion of the inventory of any one of those aged product categories may not be replaceable and, consequently,</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24576 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">may lead to a substantial decrease in the supply of those products. Additionally, the judgemental nature of</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24577 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">determining how much of the Group\u2019s aged products to lay down in any given year for future consumption</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps24578 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">involves an inherent risk of forecasting error. Finally, price is another critical element, as the recoverability of the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24579 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">cost incurred in the maturing process is subject to the Group's ability to select an adequate range of premium</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24580 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">products capable of satisfying the needs of demanding customers while the loss of sales and market shares</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">lead to future excess inventory and decreased profit margin. The Group regularly reviews its marketing and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24582 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:392.71pt\">production strategy to mitigate those risks enabling long-term forecasting analytical tools.</span></div><div class=\"ps24583 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">In line with its decarbonisation strategy and with the goal of contributing to the achievement of its 2030 emission</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps4565 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">reduction targets, the Group signed its first multi-year contract for the purchase of electric energy from wind</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24584 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">renewable sources (i.e., Off-site Power Purchase Agreement, \u2018PPA\u2019), active from 1 January 2024, for the next 5</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps3022 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">years. The scope of the agreement is the Italian perimeter (all plants and headquarters are included), allowing to</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24585 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">cover about 30% of the Campari Group\u2019s electricity needs in the country. With this agreement, the Group will</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps24586 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">support the renewable producer in contributing to the construction of new generators, specifically wind farms in</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps24588 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:447.45pt\">Italy. It will receive from the seller the amount of Guarantee of Origin related to the energy purchased.</span><span class=\"f charStyle-58d8bcbe ps24587\" style=\"width:24.93pt\">\u00a0 \u00a0 \u00a0 \u00a0  </span></div><div class=\"ps24589 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Debt Management<span id=\"i2771d1c1e2044a69bf4968fe695deadb\"></span></span></div><div class=\"ps24590 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">The Group\u2019s debt management objectives are based on its ability to ensure that it retains an optimal level of</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps24591 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">financial soundness, while maintaining an appropriate level of liquidity that enables it to secure an economic</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps24592 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">return and, at the same time, access external sources of funding. The Group monitors changes to its net debt/</span></div><div class=\"ps24593 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:455.5pt\">EBITDA-adjusted ratio on an ongoing basis as commented in the above note 7 i-\u2018Capital Management\u2019.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-516": {
   "value": "<div class=\"ps22909 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Trade Receivables\u00a0  <span id=\"i8756726cb7184105af5b89300cbcb9d5\"></span></span></div><div class=\"ps22957 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The table below shows the trade receivables, broken down by maturity. In light of the analysis performed on</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22958 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">estimated expected future losses (using the expected credit loss method), trade receivables which are deemed<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22959 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:262.8pt\">not recoverable were balanced by an appropriate provision.</span></div><div class=\"ps22983 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:251.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1746\"><div><div class=\"ps473 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21078 ss668\"><div><div class=\"ps979 ss659\"><span class=\"f charStyle-40131897 ps22961\">trade receivables</span><span class=\"f charStyle-85922b7e ps22962\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22965 ss668\"><div><div class=\"ps1094 ss659\"><span class=\"f charStyle-183bdf94 ps22963\">provision for expected future losses <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss659\"><span class=\"f charStyle-183bdf94 ps22964\">and bad debt</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16021 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22967 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1748\"><div><div class=\"ps485 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Not overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12121 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">245.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6480 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22969\">(5.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16041 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22970\">98.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6498 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(11.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Less than 30 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16050 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">60.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6511 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">30-90 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16060 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">18.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6522 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22973 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">9.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22974 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22975 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22976 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(5.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Due after 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22977 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">1.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22978 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total receivables broken down by maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22979 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">343.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22980 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">Amount impaired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22981 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22971\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22982 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">326.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps22984 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:187.73pt\">This item does not include prepaid expenses for \u20ac1.0 million.<span class=\"f ps21\"> </span></span></div><div class=\"ps22986 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:251.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1746\"><div><div class=\"ps473 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21078 ss668\"><div><div class=\"ps979 ss659\"><span class=\"f charStyle-40131897 ps22961\">trade receivables</span><span class=\"f charStyle-85922b7e ps22962\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22965 ss668\"><div><div class=\"ps1094 ss659\"><span class=\"f charStyle-183bdf94 ps22963\">provision for expected future losses <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss659\"><span class=\"f charStyle-183bdf94 ps22964\">and bad debt</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16021 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22967 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1748\"><div><div class=\"ps485 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Not overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12121 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">333.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6480 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22969\">(6.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16041 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">107.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6498 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Less than 30 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16050 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">60.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6511 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">30-90 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16060 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">29.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6522 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22973 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22974 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22975 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">8.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22976 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(5.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Due after 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22977 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22978 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total receivables broken down by maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22979 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">440.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22980 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(19.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">Amount impaired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22981 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22971\">(19.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22982 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">420.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps22987 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.33pt\">This item does not include prepaid expenses.</span></div><div class=\"ps22993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:171.02pt\">The overdue category decreased to \u20ac</span><span class=\"f charStyle-58d8bcbe ps22989\" style=\"width:19.45pt\">98.2</span><span class=\"f charStyle-58d8bcbe ps22990\" style=\"width:35.83pt\"> million </span><span class=\"f charStyle-58d8bcbe ps22991\" style=\"width:99.06pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22992\" style=\"width:170.87pt\"> and is continuously monitored by the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22995 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:168.69pt\">Group\u2019s credit management functions.</span><span class=\"f charStyle-58d8bcbe ps22994\" style=\"width:2.77pt\"> </span></div><div class=\"ps22999 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:99.29pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22996\" style=\"width:315.47pt\">, the provision for expected future losses and bad debt amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps22997\" style=\"width:19.45pt\">17.4</span><span class=\"f charStyle-58d8bcbe ps22998\" style=\"width:61.92pt\"> million, down</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23004 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:44.98pt\">from the \u20ac</span><span class=\"f charStyle-58d8bcbe ps23000\" style=\"width:19.45pt\">19.9</span><span class=\"f charStyle-58d8bcbe ps23001\" style=\"width:147.75pt\"> million reported at 31 December </span><span class=\"f charStyle-58d8bcbe ps23002\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps23003\" style=\"width:2.77pt\">.</span></div><div class=\"ps23008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:120.13pt\">The following table provid</span><span class=\"f charStyle-58d8bcbe ps23006\" style=\"width:5.56pt\">e</span><span class=\"f charStyle-58d8bcbe ps23007\" style=\"width:370.5pt\">s the probability of default, obtained from external data providers, used for the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps23012 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:301.37pt\">calculation of the expected future losses for each subsidiary, used </span><span class=\"f charStyle-58d8bcbe ps23009\" style=\"width:98.43pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps23010\" style=\"width:23.76pt\"> and </span><span class=\"f charStyle-58d8bcbe ps23011\" style=\"width:72.65pt\">at 31 December</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23014 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps4079\" style=\"width:258.29pt\">, according to the country in which the subsidiary is based.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23013\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:272.25pt\"></td><td style=\"padding:0;width:110.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22082 ss1369\"><div><div class=\"ps2415 ss1368\"><span class=\"f charStyle-183bdf94 ps14722\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Argentina<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22083 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">7.03</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">9.03</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Australia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22085 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.04</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.04</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Austria<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22087 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.07</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Belgium<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22090 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.06</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.06</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Brazil<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22093 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.40</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.35</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Canada<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22095 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.08</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">China<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22096 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.15</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.22</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22098 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.08</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Germany<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22113 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.03</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22803 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.03</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Greece<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22114 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22805 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.11</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">India<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22116 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.09</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23018 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.10</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22118 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23019 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.11</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Jamaica<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22120 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.66</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23020 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.84</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22122 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23021 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.08</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Mexico<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22124 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.27</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23022 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.24</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11650 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">New Zealand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23023 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.04</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23024 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.11</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Peru<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23025 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.23</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23026 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.20</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11659 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Russia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23027 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">4.17</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23028 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">5.59</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11663 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Singapore<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23029 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23030 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.07</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11174 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">South Africa<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23031 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.30</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23032 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.33</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11670 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">South Korea<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23033 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.13</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23034 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.20</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5638 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Spain<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23035 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.06</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23036 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.06</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11177 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Switzerland<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23037 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.03</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23038 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.03</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11178 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">United Kingdom<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23039 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.06</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23040 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.07</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5363 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Ukraine<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23042 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23041\"></span><span class=\"ps23041\">100.00</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23044 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23043\"></span><span class=\"ps23043\">100.00</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11038 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">United States<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23045 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.27</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23046 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.17</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12546 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The tables below set out the information related to the credit risk exposure on the Group\u2019s trade receivables</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps12547 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:107.76pt\">using a provision matrix:</span></div><div class=\"ps23084 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8961 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps23047\">trade receivables days past due<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23048\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23050 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps176\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23049\">30 days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps9493 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23051\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6464 ss1401\"><div><div class=\"ps2776 ss1233\"><span class=\"f charStyle-183bdf94 ps4023\">within 1 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1233\"><span class=\"f charStyle-183bdf94 ps23053\">year</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23056 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23054\">within 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps8429 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23057\">after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23058 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">Total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23059 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16089 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6478 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps15076\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23060 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23061 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23062 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.7%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23064 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.5%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16097 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.4%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6497 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps8248\">0.7%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23065 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.7%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23066 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.2%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23067 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23063\">5.1%</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-40131897 ps132\">Estimated total gross carrying amount at default</span><span class=\"f charStyle-85922b7e ps23068\"><sup> (1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22839 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23069\">245.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23071 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">60.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16104 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">18.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6510 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23072\">9.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23074 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23075 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">1.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23076 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23069\">343.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">provision for expected future losses and bad debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22842 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(5.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23078 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16112 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6521 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23079\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23080 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(5.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23081 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23083 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23082\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23085 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.33pt\">This item does not include prepaid expenses.</span></div><div class=\"ps23087 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8961 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps23047\">trade receivables days past due<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23048\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23050 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps176\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23049\">30 days</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9493 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23051\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">days</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6464 ss1401\"><div><div class=\"ps2776 ss1233\"><span class=\"f charStyle-183bdf94 ps4023\">within 1 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1233\"><span class=\"f charStyle-183bdf94 ps23053\">year</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23056 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23054\">within 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8429 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23057\">after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23058 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">Total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23059 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16089 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6478 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps15076\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23060 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23061 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23062 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.5%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23064 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.4%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16097 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.4%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6497 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps8248\">0.6%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23065 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.3%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23066 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.1%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23067 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-ba8ac8da ps23063\">4.5%</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-40131897 ps132\">Estimated total gross carrying amount at default</span><span class=\"f charStyle-85922b7e ps23068\"><sup> (1)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22839 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23069\">333.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23071 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">60.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16104 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">29.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6510 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23072\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23074 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">8.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23075 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23076 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23069\">440.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">provision for expected future losses and bad debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22842 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(6.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23078 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16112 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6521 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23079\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23080 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(5.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23081 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23083 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23082\">(19.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23089 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.33pt\">This item does not include prepaid expenses.</span><span class=\"f charStyle-40131897 ps23088\" style=\"width:3.88pt\">\u00a0 </span></div><div class=\"ps23091 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The amount of the provision and the level of utilisation over the years confirms that overall the Group is exposed</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps23093 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:374.13pt\">to a cluster of customers and markets that are not significantly affected by credit risk.</span><span class=\"f charStyle-58d8bcbe ps23092\" style=\"width:5.54pt\">\u00a0 <span class=\"f ps21\"> </span></span></div><div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:135.52pt\">Impairment of a financial asset</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets are tested for recoverability by applying an impairment model based on the expected credit loss</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:32.76pt\">(\u2018ECL\u2019).</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group applies the simplified method for trade receivables, which considers the probability of default over</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">the financial instrument\u2019s life (lifetime expected credit losses). In making impairment assessments, the Group</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">considers its historical credit loss experience, adjusted for forward-looking factors specific to the nature of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Group\u2019s receivables and economic environment. If any such evidence exists, an impairment loss is recognised</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">under selling, general and administrative expenses. More specifically, non-performing receivables are analysed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">based on the debtor\u2019s creditworthiness and ability to pay the sums due, as well as the degree of effective</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.92pt\">coverage provided by any collateral and personal guarantees in existence.</span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">With regard to trade receivables, two approaches are applied to estimate impairment, based on the specific</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">characteristics of the individual countries in which the Group operates and its constant growth at a global level:</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">one is a matrix-based model and the other applies the probability of default (\u2018PD\u2019) obtained from external</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">sources specialising in the country in which each subsidiary is located. The provision matrix, including the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:331.6pt\">overall actual result of the year, is reported in the relevant disclosure notes.</span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">A financial asset is impaired when internal or external information indicates that it is unlikely that the Group will</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:154.97pt\">receive the full contractual amount.</span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Lastly, with regard to other financial assets measured at amortised cost, and, more specifically, cash and cash</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">equivalents, the impact in terms of expected loss is not considered material and for this reason no adjustment is</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:111.66pt\">made to the book values.</span><div class=\"ps24364 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Nature and Extent of the Risks Arising from Financial Instruments<span id=\"i266b5b9b505e4b3b83e47d24ed3989ab\"></span></span></div><div class=\"ps24371 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:49.46pt\">Credit risk<span id=\"ic23e4c83e3504d38adf608b7c1926236\"></span></span></div><div class=\"ps9369 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">In specific markets in which the Group operates, sales are concentrated in a limited number of key customers.</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.59pt\"> </span></div><div class=\"ps9370 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">Therefore, a possible change in the priorities, or deterioration of the financial conditions of these customers</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps9371 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">could have significant adverse effects on the Group\u2019s business and outlook. Furthermore, if these key</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9375 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">customers view the contractual terms and conditions as no longer acceptable, they may ask for them to be</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9377 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">renegotiated, resulting in less favourable terms and conditions for the Group. Examples of mitigation measures:</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps9378 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">monitoring of customers at market level, strategy and innovation development at corporate and market-level,</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2958 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:148.66pt\">multi-country investment strategy.</span><span class=\"f charStyle-58d8bcbe ps24372\" style=\"width:2.77pt\"> </span></div><div class=\"ps4078 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">With regard to trade transactions, the Group works with medium-sized and large customers (large-scale<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps4082 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">retailers, domestic and international distributors) on which credit checks are performed in advance. Each</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps4083 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">company carries out an assessment and control procedure for its customer portfolio, constantly monitoring</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps4084 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">amounts received. In the event of excessive or repeated delays, supplies are suspended. Historically, losses on</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps2010 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">receivables represent a very low percentage of revenues and outstanding annual receivables, and significant</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps24373 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:392.76pt\">hedging and/or insurance is put in place where there is uncertainty about cash collection.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Financial transactions are carried out with leading domestic and international institutions, monitored ratings to</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:168.31pt\">minimise counterparty insolvency risk.</span><span class=\"f charStyle-58d8bcbe ps6775\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The maximum risk associated with commercial and financial transactions at the reporting date is equivalent to</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">the net carrying amount of these assets, also taking into account the risk of expected credit losses estimated by</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:205.54pt\">the Group using the business model identified.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-515": {
   "value": "<div class=\"ps22909 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Trade Receivables\u00a0  <span id=\"i8756726cb7184105af5b89300cbcb9d5\"></span></span></div><div class=\"ps22999 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:99.29pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22996\" style=\"width:315.47pt\">, the provision for expected future losses and bad debt amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps22997\" style=\"width:19.45pt\">17.4</span><span class=\"f charStyle-58d8bcbe ps22998\" style=\"width:61.92pt\"> million, down</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23004 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:44.98pt\">from the \u20ac</span><span class=\"f charStyle-58d8bcbe ps23000\" style=\"width:19.45pt\">19.9</span><span class=\"f charStyle-58d8bcbe ps23001\" style=\"width:147.75pt\"> million reported at 31 December </span><span class=\"f charStyle-58d8bcbe ps23002\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps23003\" style=\"width:2.77pt\">.</span></div><div class=\"ps23008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:120.13pt\">The following table provid</span><span class=\"f charStyle-58d8bcbe ps23006\" style=\"width:5.56pt\">e</span><span class=\"f charStyle-58d8bcbe ps23007\" style=\"width:370.5pt\">s the probability of default, obtained from external data providers, used for the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps23012 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:301.37pt\">calculation of the expected future losses for each subsidiary, used </span><span class=\"f charStyle-58d8bcbe ps23009\" style=\"width:98.43pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps23010\" style=\"width:23.76pt\"> and </span><span class=\"f charStyle-58d8bcbe ps23011\" style=\"width:72.65pt\">at 31 December</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23014 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps4079\" style=\"width:258.29pt\">, according to the country in which the subsidiary is based.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23013\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:272.25pt\"></td><td style=\"padding:0;width:110.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22082 ss1369\"><div><div class=\"ps2415 ss1368\"><span class=\"f charStyle-183bdf94 ps14722\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Argentina<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22083 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">7.03</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">9.03</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Australia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22085 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.04</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.04</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Austria<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22087 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.07</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Belgium<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22090 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.06</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.06</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Brazil<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22093 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.40</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.35</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Canada<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22095 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.08</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">China<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22096 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.15</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.22</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22098 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.08</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Germany<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22113 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.03</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22803 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.03</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Greece<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22114 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22805 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.11</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">India<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22116 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.09</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23018 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.10</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22118 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23019 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.11</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Jamaica<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22120 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.66</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23020 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.84</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22122 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23021 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.08</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Mexico<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22124 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.27</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23022 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.24</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11650 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">New Zealand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23023 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.04</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23024 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.11</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Peru<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23025 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.23</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23026 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.20</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11659 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Russia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23027 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">4.17</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23028 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">5.59</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11663 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Singapore<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23029 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23030 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.07</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11174 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">South Africa<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23031 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.30</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23032 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.33</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11670 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">South Korea<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23033 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.13</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23034 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.20</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5638 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Spain<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23035 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.06</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23036 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.06</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11177 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Switzerland<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23037 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.03</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23038 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.03</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11178 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">United Kingdom<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23039 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.06</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23040 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.07</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5363 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Ukraine<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23042 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23041\"></span><span class=\"ps23041\">100.00</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23044 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23043\"></span><span class=\"ps23043\">100.00</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11038 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">United States<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23045 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.27</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23046 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.17</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12546 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The tables below set out the information related to the credit risk exposure on the Group\u2019s trade receivables</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps12547 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:107.76pt\">using a provision matrix:</span></div><div class=\"ps23084 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8961 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps23047\">trade receivables days past due<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23048\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23050 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps176\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23049\">30 days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps9493 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23051\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6464 ss1401\"><div><div class=\"ps2776 ss1233\"><span class=\"f charStyle-183bdf94 ps4023\">within 1 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1233\"><span class=\"f charStyle-183bdf94 ps23053\">year</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23056 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23054\">within 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps8429 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23057\">after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23058 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">Total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23059 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16089 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6478 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps15076\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23060 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23061 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23062 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.7%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23064 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.5%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16097 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.4%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6497 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps8248\">0.7%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23065 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.7%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23066 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.2%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23067 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23063\">5.1%</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-40131897 ps132\">Estimated total gross carrying amount at default</span><span class=\"f charStyle-85922b7e ps23068\"><sup> (1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22839 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23069\">245.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23071 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">60.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16104 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">18.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6510 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23072\">9.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23074 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23075 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">1.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23076 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23069\">343.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">provision for expected future losses and bad debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22842 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(5.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23078 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16112 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6521 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23079\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23080 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(5.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23081 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23083 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23082\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23085 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.33pt\">This item does not include prepaid expenses.</span></div><div class=\"ps23087 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8961 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps23047\">trade receivables days past due<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23048\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23050 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps176\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23049\">30 days</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9493 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23051\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">days</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6464 ss1401\"><div><div class=\"ps2776 ss1233\"><span class=\"f charStyle-183bdf94 ps4023\">within 1 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1233\"><span class=\"f charStyle-183bdf94 ps23053\">year</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23056 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23054\">within 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8429 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23057\">after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23058 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">Total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23059 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16089 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6478 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps15076\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23060 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23061 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23062 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.5%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23064 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.4%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16097 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.4%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6497 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps8248\">0.6%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23065 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.3%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23066 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.1%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23067 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-ba8ac8da ps23063\">4.5%</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-40131897 ps132\">Estimated total gross carrying amount at default</span><span class=\"f charStyle-85922b7e ps23068\"><sup> (1)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22839 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23069\">333.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23071 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">60.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16104 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">29.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6510 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23072\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23074 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">8.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23075 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23076 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23069\">440.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">provision for expected future losses and bad debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22842 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(6.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23078 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16112 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6521 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23079\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23080 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(5.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23081 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23083 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23082\">(19.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23089 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.33pt\">This item does not include prepaid expenses.</span><span class=\"f charStyle-40131897 ps23088\" style=\"width:3.88pt\">\u00a0 </span></div><div class=\"ps23091 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The amount of the provision and the level of utilisation over the years confirms that overall the Group is exposed</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps23093 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:374.13pt\">to a cluster of customers and markets that are not significantly affected by credit risk.</span><span class=\"f charStyle-58d8bcbe ps23092\" style=\"width:5.54pt\">\u00a0 <span class=\"f ps21\"> </span></span></div><div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:135.52pt\">Impairment of a financial asset</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets are tested for recoverability by applying an impairment model based on the expected credit loss</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:32.76pt\">(\u2018ECL\u2019).</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group applies the simplified method for trade receivables, which considers the probability of default over</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">the financial instrument\u2019s life (lifetime expected credit losses). In making impairment assessments, the Group</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">considers its historical credit loss experience, adjusted for forward-looking factors specific to the nature of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Group\u2019s receivables and economic environment. If any such evidence exists, an impairment loss is recognised</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">under selling, general and administrative expenses. More specifically, non-performing receivables are analysed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">based on the debtor\u2019s creditworthiness and ability to pay the sums due, as well as the degree of effective</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.92pt\">coverage provided by any collateral and personal guarantees in existence.</span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">With regard to trade receivables, two approaches are applied to estimate impairment, based on the specific</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">characteristics of the individual countries in which the Group operates and its constant growth at a global level:</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">one is a matrix-based model and the other applies the probability of default (\u2018PD\u2019) obtained from external</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">sources specialising in the country in which each subsidiary is located. The provision matrix, including the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:331.6pt\">overall actual result of the year, is reported in the relevant disclosure notes.</span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">A financial asset is impaired when internal or external information indicates that it is unlikely that the Group will</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:154.97pt\">receive the full contractual amount.</span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Lastly, with regard to other financial assets measured at amortised cost, and, more specifically, cash and cash</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">equivalents, the impact in terms of expected loss is not considered material and for this reason no adjustment is</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:111.66pt\">made to the book values.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-514": {
   "value": "<div class=\"ps22909 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Trade Receivables\u00a0  <span id=\"i8756726cb7184105af5b89300cbcb9d5\"></span></span></div><div class=\"ps3019 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps22912 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:368.61pt\">For details on the accounting policy, please refer to note 6 i-\u2018Financial instruments\u2019. </span><span class=\"f charStyle-58d8bcbe ps22911\" style=\"width:13.85pt\">\u00a0 \u00a0  <span class=\"f ps21\"> </span></span></div><div class=\"ps22914 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> </span></div><div class=\"ps22916 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps485 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Trade receivables from external customers<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">326.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">425.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Receivables in respect of contributions to promotional costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22769\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Trade receivables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22772 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">327.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">425.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22925 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:101.51pt\"><span style=\"background-color:inherit\">At 31 December 2025</span></span><span class=\"f charStyle-bdf8be45 ps22918\" style=\"width:6.97pt\"><span style=\"background-color:inherit\">, </span></span><span class=\"f charStyle-bdf8be45 ps22919\" style=\"width:81.75pt\"><span style=\"background-color:inherit\">trade receivables </span></span><span class=\"f charStyle-bdf8be45 ps22920\" style=\"width:46.69pt\"><span style=\"background-color:inherit\">decreased</span></span><span class=\"f charStyle-bdf8be45 ps22921\" style=\"width:48.17pt\"><span style=\"background-color:inherit\"> by \u20ac98.7 </span></span><span class=\"f charStyle-bdf8be45 ps22922\" style=\"width:10.55pt\"><span style=\"background-color:inherit\">mi</span></span><span class=\"f charStyle-bdf8be45 ps22923\" style=\"width:24.75pt\"><span style=\"background-color:inherit\">llion, </span></span><span class=\"f charStyle-58d8bcbe ps22924\" style=\"width:175.73pt\">reflecting the ongoing enhancement of</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22926 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:186.18pt\">credit collection conditions over the year.</span><span class=\"f charStyle-58d8bcbe ps2376\" style=\"width:310.03pt\"> During 2025, the Group finalised a new non-recourse securitisation</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps22928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:47.79pt\">agreement</span><span class=\"f charStyle-58d8bcbe ps22927\" style=\"width:448.33pt\"> aimed at the disposal of trade receivables. This transaction represents another step within the</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps22929 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">broader strategy to optimise the capital structure and reduce financial leverage. The agreement complements a</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:473.37pt\">number of existing, more localised arrangements, and does not entail any change to the Group\u2019s overall <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps22930\" style=\"width:22.78pt\">trade</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps3500 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:161.41pt\">receivables management strategy. </span><span class=\"f charStyle-58d8bcbe ps22932\" style=\"width:334.75pt\">From an accounting standpoint, and in line with the applicable financial</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">reporting standards, the sold receivables have been derecognised. The transaction is consistent with the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps22934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">Group\u2019s established practices and does not entail any modification in the recognition or measurement criteria</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22936 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:142.21pt\">applied to similar arrangements.</span><span class=\"f charStyle-58d8bcbe ps22935\" style=\"width:2.77pt\"> </span></div><div class=\"ps22942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:64.37pt\">The following </span><span class=\"f charStyle-58d8bcbe ps9742\" style=\"width:21.67pt\">table<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps22938\" style=\"width:314.38pt\"> shows the impairment changes for expected future losses and bad </span><span class=\"f charStyle-58d8bcbe ps22939\" style=\"width:80.5pt\">debt compared to</span><span class=\"f charStyle-58d8bcbe ps22940\" style=\"width:4.13pt\"> </span><span class=\"f charStyle-58d8bcbe ps22941\" style=\"width:11.12pt\">31</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps22943 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2024</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:2.77pt\">.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:320.25pt\"></td><td style=\"padding:0;width:175.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1644\"><div><div class=\"ps485 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">provision for expected future losses and bad debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22946 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22945\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22948 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22947\">(19.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-40131897 ps132\">Accruals</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22950 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22949\">(2.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Utilisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22952 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22951\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Release<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22953 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22951\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22954 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22951\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-40131897 ps132\">at 31 December 2025</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22955 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22947\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22957 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The table below shows the trade receivables, broken down by maturity. In light of the analysis performed on</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22958 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">estimated expected future losses (using the expected credit loss method), trade receivables which are deemed<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22959 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:262.8pt\">not recoverable were balanced by an appropriate provision.</span></div><div class=\"ps22983 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:251.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1746\"><div><div class=\"ps473 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21078 ss668\"><div><div class=\"ps979 ss659\"><span class=\"f charStyle-40131897 ps22961\">trade receivables</span><span class=\"f charStyle-85922b7e ps22962\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22965 ss668\"><div><div class=\"ps1094 ss659\"><span class=\"f charStyle-183bdf94 ps22963\">provision for expected future losses <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss659\"><span class=\"f charStyle-183bdf94 ps22964\">and bad debt</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16021 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22967 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1748\"><div><div class=\"ps485 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Not overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12121 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">245.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6480 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22969\">(5.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16041 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22970\">98.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6498 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(11.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Less than 30 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16050 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">60.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6511 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">30-90 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16060 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">18.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6522 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22973 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">9.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22974 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22975 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22976 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(5.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Due after 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22977 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">1.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22978 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total receivables broken down by maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22979 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">343.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22980 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">Amount impaired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22981 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22971\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22982 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">326.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps22984 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:187.73pt\">This item does not include prepaid expenses for \u20ac1.0 million.<span class=\"f ps21\"> </span></span></div><div class=\"ps22986 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:251.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td><td style=\"padding:0;width:122.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1746\"><div><div class=\"ps473 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21078 ss668\"><div><div class=\"ps979 ss659\"><span class=\"f charStyle-40131897 ps22961\">trade receivables</span><span class=\"f charStyle-85922b7e ps22962\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22965 ss668\"><div><div class=\"ps1094 ss659\"><span class=\"f charStyle-183bdf94 ps22963\">provision for expected future losses <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss659\"><span class=\"f charStyle-183bdf94 ps22964\">and bad debt</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16021 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22967 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22966\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1748\"><div><div class=\"ps485 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Not overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12121 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">333.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6480 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22969\">(6.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Overdue<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16041 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">107.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6498 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Less than 30 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16050 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">60.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6511 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">30-90 days<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16060 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22970\">29.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6522 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22973 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22974 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Within 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22975 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">8.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22976 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(5.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps661\">Due after 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22977 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22972\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22978 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22969\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total receivables broken down by maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22979 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">440.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22980 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22971\">(19.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-183bdf94 ps132\">Amount impaired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22981 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-183bdf94 ps22971\">(19.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4642 ss1748\"><div><div class=\"ps476 ss1745\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22982 ss1747\"><div><div class=\"ps476 ss659\"><span class=\"f charStyle-ba8ac8da ps22968\">420.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps22987 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.33pt\">This item does not include prepaid expenses.</span></div><div class=\"ps22993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:171.02pt\">The overdue category decreased to \u20ac</span><span class=\"f charStyle-58d8bcbe ps22989\" style=\"width:19.45pt\">98.2</span><span class=\"f charStyle-58d8bcbe ps22990\" style=\"width:35.83pt\"> million </span><span class=\"f charStyle-58d8bcbe ps22991\" style=\"width:99.06pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22992\" style=\"width:170.87pt\"> and is continuously monitored by the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22995 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:168.69pt\">Group\u2019s credit management functions.</span><span class=\"f charStyle-58d8bcbe ps22994\" style=\"width:2.77pt\"> </span></div><div class=\"ps22999 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:99.29pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22996\" style=\"width:315.47pt\">, the provision for expected future losses and bad debt amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps22997\" style=\"width:19.45pt\">17.4</span><span class=\"f charStyle-58d8bcbe ps22998\" style=\"width:61.92pt\"> million, down</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23004 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:44.98pt\">from the \u20ac</span><span class=\"f charStyle-58d8bcbe ps23000\" style=\"width:19.45pt\">19.9</span><span class=\"f charStyle-58d8bcbe ps23001\" style=\"width:147.75pt\"> million reported at 31 December </span><span class=\"f charStyle-58d8bcbe ps23002\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps23003\" style=\"width:2.77pt\">.</span></div><div class=\"ps23008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:120.13pt\">The following table provid</span><span class=\"f charStyle-58d8bcbe ps23006\" style=\"width:5.56pt\">e</span><span class=\"f charStyle-58d8bcbe ps23007\" style=\"width:370.5pt\">s the probability of default, obtained from external data providers, used for the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps23012 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:301.37pt\">calculation of the expected future losses for each subsidiary, used </span><span class=\"f charStyle-58d8bcbe ps23009\" style=\"width:98.43pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps23010\" style=\"width:23.76pt\"> and </span><span class=\"f charStyle-58d8bcbe ps23011\" style=\"width:72.65pt\">at 31 December</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23014 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps4079\" style=\"width:258.29pt\">, according to the country in which the subsidiary is based.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23013\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:272.25pt\"></td><td style=\"padding:0;width:110.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22082 ss1369\"><div><div class=\"ps2415 ss1368\"><span class=\"f charStyle-183bdf94 ps14722\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Argentina<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22083 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">7.03</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">9.03</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Australia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22085 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.04</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.04</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Austria<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22087 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.07</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Belgium<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22090 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.06</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.06</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Brazil<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22093 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.40</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.35</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Canada<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22095 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.08</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">China<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22096 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.15</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.22</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">France<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22098 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.08</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Germany<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22113 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.03</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22803 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.03</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Greece<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22114 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22805 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.11</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">India<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22116 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.09</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23018 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.10</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22118 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23019 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.11</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Jamaica<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22120 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.66</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23020 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.84</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Martinique<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22122 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23021 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.08</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Mexico<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22124 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.27</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23022 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.24</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11650 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">New Zealand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23023 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.04</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23024 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.11</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Peru<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23025 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.23</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23026 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.20</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11659 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Russia<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23027 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">4.17</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23028 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">5.59</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11663 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Singapore<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23029 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.07</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23030 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.07</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11174 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">South Africa<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23031 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.30</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23032 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.33</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11670 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">South Korea<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23033 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.13</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23034 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.20</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5638 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Spain<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23035 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.06</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23036 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.06</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11177 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Switzerland<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23037 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.03</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23038 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.03</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11178 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">United Kingdom<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23039 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.06</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23040 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.07</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5363 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">Ukraine<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23042 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23041\"></span><span class=\"ps23041\">100.00</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23044 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23043\"></span><span class=\"ps23043\">100.00</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11038 ss1717\"><div><div class=\"ps476 ss1715\"><span class=\"f charStyle-183bdf94 ps132\">United States<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23045 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94\"><span class=\"ps16216\"></span><span class=\"ps16216\">0.27</span><span class=\"ps16217\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23046 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23016\"></span><span class=\"ps23016\">0.17</span><span class=\"ps23017\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12546 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">The tables below set out the information related to the credit risk exposure on the Group\u2019s trade receivables</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps12547 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:107.76pt\">using a provision matrix:</span></div><div class=\"ps23084 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8961 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps23047\">trade receivables days past due<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23048\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23050 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps176\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23049\">30 days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps9493 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23051\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">days</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6464 ss1401\"><div><div class=\"ps2776 ss1233\"><span class=\"f charStyle-183bdf94 ps4023\">within 1 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1233\"><span class=\"f charStyle-183bdf94 ps23053\">year</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23056 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23054\">within 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps8429 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23057\">after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23058 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">Total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23059 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16089 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6478 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps15076\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23060 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23061 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23062 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.7%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23064 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.5%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16097 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.4%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6497 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps8248\">0.7%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23065 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.7%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23066 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.2%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23067 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23063\">5.1%</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-40131897 ps132\">Estimated total gross carrying amount at default</span><span class=\"f charStyle-85922b7e ps23068\"><sup> (1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22839 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23069\">245.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23071 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">60.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16104 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">18.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6510 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23072\">9.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23074 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23075 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">1.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23076 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23069\">343.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">provision for expected future losses and bad debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22842 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(5.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23078 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(1.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16112 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6521 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23079\">(2.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23080 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(5.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23081 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23083 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23082\">(17.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23085 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.33pt\">This item does not include prepaid expenses.</span></div><div class=\"ps23087 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td><td style=\"padding:0;width:39pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td colspan=\"5\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8961 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps23047\">trade receivables days past due<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps16236 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23048\">current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23050 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps176\">less than <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23049\">30 days</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps9493 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23051\">30-90 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">days</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6464 ss1401\"><div><div class=\"ps2776 ss1233\"><span class=\"f charStyle-183bdf94 ps4023\">within 1 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1233\"><span class=\"f charStyle-183bdf94 ps23053\">year</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23056 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23054\">within 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8429 ss402\"><div><div class=\"ps2776 ss392\"><span class=\"f charStyle-183bdf94 ps23057\">after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss392\"><span class=\"f charStyle-183bdf94 ps23055\">years</span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23058 ss402\"><div><div class=\"ps979 ss392\"><span class=\"f charStyle-183bdf94 ps23052\">Total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1366\"><div><div class=\"ps476 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22829 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23059 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16089 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6478 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps15076\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23060 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23061 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23062 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps1165\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">Credit loss rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22832 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.5%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23064 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.4%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16097 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.4%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6497 ss1234\"><div><div class=\"ps485 ss1233\"><span class=\"f charStyle-183bdf94 ps8248\">0.6%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23065 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">1.3%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23066 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-183bdf94 ps23063\">0.1%</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23067 ss397\"><div><div class=\"ps485 ss392\"><span class=\"f charStyle-ba8ac8da ps23063\">4.5%</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps498 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-40131897 ps132\">Estimated total gross carrying amount at default</span><span class=\"f charStyle-85922b7e ps23068\"><sup> (1)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22839 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23069\">333.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23071 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">60.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16104 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23070\">29.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6510 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23072\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23074 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">8.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23075 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23073\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23076 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23069\">440.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1366\"><div><div class=\"ps485 ss1365\"><span class=\"f charStyle-183bdf94 ps132\">provision for expected future losses and bad debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22842 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(6.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23078 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16112 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6521 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23079\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23080 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(5.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23081 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-183bdf94 ps23077\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23083 ss397\"><div><div class=\"ps476 ss392\"><span class=\"f charStyle-ba8ac8da ps23082\">(19.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23089 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:140.33pt\">This item does not include prepaid expenses.</span><span class=\"f charStyle-40131897 ps23088\" style=\"width:3.88pt\">\u00a0 </span></div><div class=\"ps23091 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The amount of the provision and the level of utilisation over the years confirms that overall the Group is exposed</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps23093 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:374.13pt\">to a cluster of customers and markets that are not significantly affected by credit risk.</span><span class=\"f charStyle-58d8bcbe ps23092\" style=\"width:5.54pt\">\u00a0 <span class=\"f ps21\"> </span></span></div><div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps23189 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps23190 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:297.73pt\">Financial instruments held by the Group are categorised as follows.</span></div><div class=\"ps23192 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:240.55pt\">Financial assets, including trade and other receivables<span class=\"f ps21\"> </span></span></div><div class=\"ps14661 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets include investments, short-term securities and financial receivables, which, in turn, include the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23193 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">positive fair value of financial derivatives, trade and other receivables and cash and cash equivalents. Trade</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23194 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">receivables arise from contracts with customers and are recognised when performance obligations are satisfied,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23195 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">and the consideration due is unconditional as only the passage of time is required before the payment is</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps23196 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:40.56pt\">received.</span></div><div class=\"ps23197 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">Cash and cash equivalents include cash, bank deposits and highly liquid securities that are readily convertible</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23198 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">into cash and are subject to an insignificant risk of a change in value. Deposits and securities included in this</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23199 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">category mature in less than three months based on the conditions existing on the date of the acquisition of the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23200 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">asset. Current securities include short-term securities or marketable securities that represent a temporary</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23202 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:446.61pt\">investment of cash and do not meet the requirements for classification as cash and cash equivalents.</span><span class=\"f charStyle-2293a859 ps23201\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps23204 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Financial assets are classified and measured based on a business model developed by the Group. The</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23205 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">business model has been defined at a level that reflects the way in which groups of financial assets are</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps23206 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">managed to achieve a particular business objective. The model\u2019s measurement process requires an<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23207 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">assessment based on both quantitative and qualitative factors relating to, for example, the way in which the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23208 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">performance of the financial assets in question is communicated to management with strategic responsibilities<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23209 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:364.96pt\">and the way in which the risks connected with these financial assets are managed.</span></div><div class=\"ps22484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:435.43pt\">The Group measures a financial asset at amortised cost if it meets both of the following conditions:</span></div><div class=\"ps23210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.04pt\">it is held under a business model whose objective is to hold assets aiming to collect contractual cash flows;</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:19.45pt\">and,</span></div><div class=\"ps23212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.94pt\">its contractual terms and conditions are such that the cash flows generated by the asset are attributable</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:281.06pt\">exclusively to payments of the principal and the related interest.</span></div><div class=\"ps23214 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">Financial assets measured at amortised cost are measured at fair value at the time of initial recognition;</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps23215 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">subsequent measurements reflect the repayments made, the effects of applying the effective interest method</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">and any write-downs. Any gain or loss made on derecognition is recognised in profit or loss, together with</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:156.69pt\">foreign exchange gains and losses.</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets also include investments in companies that are not held for trading. These assets are strategic</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">investments, and the Group has decided to recognise changes in the related fair values through profit or loss</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:44.4pt\">(\u2018FVTPL\u2019).</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets represented by debt securities are classified and valued in the statement of financial position</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">based on the business model adopted to manage these financial assets and the financial flows associated with</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">each financial asset. They are measured at fair value through other comprehensive income (\u2018FVOCI\u2019) if all the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:198.3pt\">conditions required by IFRS 9 are respected.</span><span class=\"f charStyle-2293a859 ps23216\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps23217\" style=\"width:11.08pt\">\u00a0 \u00a0 </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:135.52pt\">Impairment of a financial asset</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets are tested for recoverability by applying an impairment model based on the expected credit loss</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:32.76pt\">(\u2018ECL\u2019).</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group applies the simplified method for trade receivables, which considers the probability of default over</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">the financial instrument\u2019s life (lifetime expected credit losses). In making impairment assessments, the Group</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">considers its historical credit loss experience, adjusted for forward-looking factors specific to the nature of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Group\u2019s receivables and economic environment. If any such evidence exists, an impairment loss is recognised</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">under selling, general and administrative expenses. More specifically, non-performing receivables are analysed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">based on the debtor\u2019s creditworthiness and ability to pay the sums due, as well as the degree of effective</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.92pt\">coverage provided by any collateral and personal guarantees in existence.</span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">With regard to trade receivables, two approaches are applied to estimate impairment, based on the specific</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">characteristics of the individual countries in which the Group operates and its constant growth at a global level:</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">one is a matrix-based model and the other applies the probability of default (\u2018PD\u2019) obtained from external</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">sources specialising in the country in which each subsidiary is located. The provision matrix, including the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:331.6pt\">overall actual result of the year, is reported in the relevant disclosure notes.</span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">A financial asset is impaired when internal or external information indicates that it is unlikely that the Group will</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:154.97pt\">receive the full contractual amount.</span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Lastly, with regard to other financial assets measured at amortised cost, and, more specifically, cash and cash</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">equivalents, the impact in terms of expected loss is not considered material and for this reason no adjustment is</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:111.66pt\">made to the book values.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-518": {
   "value": "<div class=\"ps23094 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Trade Payables<span id=\"i4fd8e36513544a0496d4992ea6146801\"></span></span></div><div class=\"ps23096 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span><span class=\"f charStyle-b96b9181 ps21430\" style=\"width:2.77pt\"> </span></div><div class=\"ps23098 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:365.84pt\">For details on the accounting policy, please refer to note 6 i-\u2018Financial instruments\u2019.</span><span class=\"f charStyle-2293a859 ps23097\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23100 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> </span></div><div class=\"ps23102 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">Trade payables to external suppliers<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">714.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">672.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1739\"><div><div class=\"ps476 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">Trade payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22770 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">714.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22656\">672.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:14.62pt\"><span style=\"background-color:inherit\">Tra</span></span><span class=\"f charStyle-58d8bcbe ps23103\" style=\"width:292.17pt\">de payables showed an increase of \u20ac41.9 million compared to </span><span class=\"f charStyle-58d8bcbe ps23104\" style=\"width:88.12pt\">31 December 2024</span><span class=\"f charStyle-58d8bcbe ps23105\" style=\"width:101.18pt\">, largely driven by the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">business dynamics and thus completely offsetting the positive impact of \u20ac20.1 million (compared to \u20ac17.1 million</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:98.1pt\">at 31 December 2024</span><span class=\"f charStyle-58d8bcbe ps23106\" style=\"width:398.04pt\">) related to the reverse factoring program that the Group continued to participate in, also<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:31.65pt\">during </span><span class=\"f charStyle-58d8bcbe ps23107\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps23108\" style=\"width:442.25pt\">. The program was carried out in cooperation with an external banking provider and selected key</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">suppliers and involved strategic partners based in Italy and in the United States, to allow participating suppliers</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">to receive early payments on their invoices. Based on the program\u2019s characteristics and the nature of the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">transaction, the trade payables in scope continued to be classified as a trade payable on the grounds, which led</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">to an improvement in terms of commercial payment (resulting in a consistent average extension of payment</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">terms to 30 days across both years, as disclosed) without giving any guarantee or change in terms or conditions</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:62.76pt\">of the original </span><span class=\"f charStyle-58d8bcbe ps23109\" style=\"width:52.79pt\">agreements<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23110\" style=\"width:2.77pt\">.</span></div><div class=\"ps15446 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:301.5pt\"></td><td style=\"padding:0;width:194.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1750\"><div><div class=\"ps485 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23112 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23111\">trade payables<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23114 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23113\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">On demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23116 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23115\">179.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">Due within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23117 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23115\">525.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">Due in 1 to 2 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23119 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23118\">6.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1750\"><div><div class=\"ps476 ss1749\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:58.69pt\">Due in 3 to 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23120 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23118\">2.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23121 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-ba8ac8da ps23115\">714.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23123 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:301.5pt\"></td><td style=\"padding:0;width:194.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23112 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23111\">trade payables<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23114 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23113\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">On demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23116 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23115\">105.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps906 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">Due within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps23117 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23115\">565.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-183bdf94 ps132\">Due in 1 to 2 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23119 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-183bdf94 ps23118\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1750\"><div><div class=\"ps476 ss1749\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23120 ss1752\"><div><div class=\"ps476 ss1751\"><span class=\"f charStyle-ba8ac8da ps23115\">672.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:238.88pt\">Financial liabilities, including trade and other payables</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Financial liabilities include financial payables, bonds and loans due to banks, which, in turn, include the negative</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">fair value of financial derivatives, trade payables and other payables including contingent consideration and</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:313.32pt\">variable payments deriving from business combinations or asset deals.</span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Financial liabilities are classified and measured at amortised cost, except for financial liabilities that are initially<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">measured at fair value, i.e., derivative instruments, financial liabilities relating to earn-out linked to business</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.29pt\">combinations and financial liabilities for put options over non-controlling interests.</span><span class=\"f charStyle-2293a859 ps23219\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Trade and other payables are initially recognised at fair value including transaction costs and subsequently</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:112.19pt\">carried at amortised cost.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-521": {
   "value": "<div class=\"ps23124 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Inventories and Biological Assets<span id=\"icf3c4835487e44a98dd170f5785536e7\"></span></span></div><div class=\"ps23126 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps23127 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Inventories are stated at the lower of cost and net realisable value. Costs of finished products include raw</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps23128 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">materials, supplies and consumables, direct labour and expenses and an appropriate proportion of production</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps23129 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">and other overheads. Cost is calculated at the weighted average cost incurred in acquiring inventories. Maturing<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23130 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">inventory includes the depreciation cost of the barrels used in the ageing process on a straight-line basis over</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23131 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">the ageing horizon. Maturing inventory, as well as biological assets that, due to their nature, are retained for<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23132 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">more than one year, are classified as current assets, as they are expected to be realised in the normal operating<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23133 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:25.55pt\">cycle.</span></div><div class=\"ps23134 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">For detailed information on the accounting policy for inventory biological assets, please also refer to note 8</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps23136 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:216.06pt\">iii-\u2018Fair value information on assets and liabilities\u2019</span><span class=\"f charStyle-2293a859 ps23135\" style=\"width:2.77pt\">.</span></div><div class=\"ps23138 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> </span></div><div class=\"ps23158 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:164.25pt\"></td><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:105pt\"></td><td style=\"padding:0;width:113.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1123 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8865 ss517\"><div><div class=\"ps2415 ss516\"><span class=\"f charStyle-0788a2e8 ps23140\">of which perimeter effect</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4589 ss276\"><div><div class=\"ps2415 ss266\"><span class=\"f charStyle-183bdf94 ps19952\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1124 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8871 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-183bdf94 ps23141\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22766 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22654\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss56\"><div><div class=\"ps476 ss55\"><span class=\"f charStyle-183bdf94 ps132\">Finished products and goods for resale<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23142 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">240.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23144 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-183bdf94 ps23143\">(4.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22768 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">276.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss56\"><div><div class=\"ps476 ss55\"><span class=\"f charStyle-183bdf94 ps132\">Maturing inventory<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23145 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22659\">1,202.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23147 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-183bdf94 ps23146\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22771 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22659\">1,157.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss56\"><div><div class=\"ps476 ss55\"><span class=\"f charStyle-183bdf94 ps132\">Work in progress<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23148 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">163.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23149 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-183bdf94 ps23143\">(2.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22773 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">143.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss56\"><div><div class=\"ps476 ss55\"><span class=\"f charStyle-183bdf94 ps132\">Raw materials, supplies and consumables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23150 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22662\">80.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23151 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-183bdf94 ps23143\">(2.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22775 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps22656\">104.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss56\"><div><div class=\"ps476 ss55\"><span class=\"f charStyle-ba8ac8da ps132\">Inventories<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23152 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22659\">1,686.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23153 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-ba8ac8da ps23143\">(9.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22790 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22659\">1,681.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss56\"><div><div class=\"ps476 ss55\"><span class=\"f charStyle-ba8ac8da ps132\">Current biological assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23154 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">34.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23155 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-ba8ac8da ps23146\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22792 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22662\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss56\"><div><div class=\"ps476 ss55\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23156 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22659\">1,721.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23157 ss517\"><div><div class=\"ps476 ss516\"><span class=\"f charStyle-ba8ac8da ps23143\">(9.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22794 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps22659\">1,703.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22063 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:73.31pt\">Stocks totalled \u20ac</span><span class=\"f charStyle-58d8bcbe ps7261\" style=\"width:33.34pt\">1,721.1<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23160\" style=\"width:33.87pt\"> million </span><span class=\"f charStyle-58d8bcbe ps23161\" style=\"width:96.12pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps23162\" style=\"width:107.18pt\">, broadly in line with the </span><span class=\"f charStyle-58d8bcbe ps23163\" style=\"width:85.02pt\">31 December 2024</span><span class=\"f charStyle-58d8bcbe ps23164\" style=\"width:2.77pt\">.</span></div><div class=\"ps22065 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:117.13pt\">Current biological assets </span><span class=\"f charStyle-58d8bcbe ps23165\" style=\"width:101.04pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps23166\" style=\"width:46.6pt\"> totalled \u20ac<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23167\" style=\"width:19.45pt\">34.2</span><span class=\"f charStyle-58d8bcbe ps23168\" style=\"width:211.96pt\"> million, corresponding to the fair value of the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps22066 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">sugar cane, grapes and agave harvests that had not yet ripened. All these biological products are classified as<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22067 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">inventory in current assets in consideration of their annual vegetative growing process, except agave, which is</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps22068 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">also classified as inventory in current assets during the 6-year growing period although the agave plants are not</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22069 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">yet ripe for the harvest useful for distillation, as they can theoretically be sold as a growing plant. For more</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps22070 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">information related to the fair value estimation, refer to note 8 iii \u2018Fair Value Information on Assets and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22071 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:407.13pt\">Liabilities\u2019. No guarantees were given to third parties in relation to these inventories. As of <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23169\" style=\"width:86.28pt\">31 December 2025</span><span class=\"f charStyle-58d8bcbe ps2216\" style=\"width:2.77pt\">,</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:389.81pt\">some eaux-de-vie inventories in France were subject to agricultural guarantees for \u20ac8.0 </span><span class=\"f charStyle-58d8bcbe ps23170\" style=\"width:28.33pt\">million</span><span class=\"f charStyle-58d8bcbe ps23171\" style=\"width:78pt\">. No public grants</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:352.75pt\">were received for agricultural produce in Martinique during 2025 (\u20ac0.1 million in </span><span class=\"f charStyle-58d8bcbe ps23172\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps23173\" style=\"width:6.1pt\">).</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:357.48pt\">Inventories are reported net of the relevant impairment provision, amounting to \u20ac</span><span class=\"f charStyle-58d8bcbe ps23174\" style=\"width:19.45pt\">76.0</span><span class=\"f charStyle-58d8bcbe ps23175\" style=\"width:43.12pt\"> million (\u20ac</span><span class=\"f charStyle-58d8bcbe ps23176\" style=\"width:19.45pt\">73.1</span><span class=\"f charStyle-58d8bcbe ps23177\" style=\"width:56.63pt\"> million at 31</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:48.89pt\">December </span><span class=\"f charStyle-58d8bcbe ps23178\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:6.1pt\">).</span></div><div class=\"ps9519 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:320.25pt\"></td><td style=\"padding:0;width:175.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22946 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22945\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22948 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-ba8ac8da ps22947\">(73.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">(Accruals)/Release<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22950 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22947\">(26.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Utilisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22952 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps23179\">20.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22953 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22951\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22954 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-ba8ac8da ps22947\">(76.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23180 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:320.25pt\"></td><td style=\"padding:0;width:175.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22946 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22945\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22948 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-ba8ac8da ps22947\">(22.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Perimeter effect for acquisition<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22950 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22947\">(38.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">(Accruals)/Release<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22952 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22947\">(15.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Utilisation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22953 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22951\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22954 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-183bdf94 ps22949\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1644\"><div><div class=\"ps476 ss1643\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22955 ss1124\"><div><div class=\"ps476 ss264\"><span class=\"f charStyle-ba8ac8da ps22947\">(73.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-520": {
   "value": "<div class=\"ps23124 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Inventories and Biological Assets<span id=\"icf3c4835487e44a98dd170f5785536e7\"></span></span></div><div class=\"ps23126 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps23127 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Inventories are stated at the lower of cost and net realisable value. Costs of finished products include raw</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps23128 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">materials, supplies and consumables, direct labour and expenses and an appropriate proportion of production</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps23129 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">and other overheads. Cost is calculated at the weighted average cost incurred in acquiring inventories. Maturing<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23130 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">inventory includes the depreciation cost of the barrels used in the ageing process on a straight-line basis over</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23131 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">the ageing horizon. Maturing inventory, as well as biological assets that, due to their nature, are retained for<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23132 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">more than one year, are classified as current assets, as they are expected to be realised in the normal operating<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23133 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:25.55pt\">cycle.</span></div><div class=\"ps23134 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">For detailed information on the accounting policy for inventory biological assets, please also refer to note 8</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:216.06pt\">iii-\u2018Fair value information on assets and liabilities\u2019</span><div class=\"ps26153 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:133.88pt\">Fair value on biological assets<span class=\"f ps21\"> </span></span></div><div class=\"ps26154 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group\u2019s biological assets include grapes for champagne production, sugar cane plantations for rum</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26155 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">production and agave for tequila/mezcal production, which are used as raw materials for the production of those</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps26156 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:28.87pt\">spirits.</span><span class=\"f charStyle-2293a859 ps6790\" style=\"width:2.77pt\"> </span></div><div class=\"ps26157 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">Grapevines remain classified as fixed biological assets valued at cost, net of accumulated depreciation and</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps17581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">accumulated impairment losses. Immature vines are stated at accumulated cost. Capitalisation of costs ceases<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26158 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">when the vines reach maturity. Depreciation commences when the grapevines are considered mature, which is</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26159 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">when they produce their first commercially viable crop. Grapes growing on the plant are immediately classified</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26160 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">as biological inventory since agricultural output covers a one-year period and the harvest is expected to occur in</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps26161 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">the second half of the year. Taking into account the biological and vegetative cycle, all the costs incurred in</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps15429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">anticipation of the future harvest (services, products and other ancillary costs) are considered as inventory in</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15430 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">current biological assets at the reporting date, at a value that is in line with the fair value of the growing grapes<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15431 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:249.43pt\">based on available information on commodities markets.</span></div><div class=\"ps15433 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">Sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps12184 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">depreciation and accumulated impairment losses up to the harvest, which occurs from February to June. At</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps12185 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">harvest time, the agricultural output that covers a one-year period is classified as an inventory item at a value</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps12186 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">estimated based on the costs of infrastructure, land preparation and sugar cane cultivation, with reference to an</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">active market for comparable plantations and similar output in terms of age and qualitative characteristics, if<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:42.23pt\">available.</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Agave plantations remain classified as fixed biological assets valued at cost, net of accumulated depreciation</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">and accumulated impairment losses. The vegetative cycle for the ripening of the agave fruit is approximately six</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">years. During this period, the agave plants have not yet matured to be used for distillation purposes but can</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">theoretically be sold as medium-aged plants. Agave cannot be distinguished from planting and can only be</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:81.93pt\">harvested once. T</span><span class=\"f charStyle-2293a859 ps26162\" style=\"width:414.26pt\">he value of the growing product is represented as biological inventory and the reported fair</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">value is estimated on the basis of the costs of infrastructure, soil preparation and agave cultivation, in the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">absence of an active reference market for comparable plantations and similar productions in terms of age and</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.42pt\">qualitative characteristics.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The following biological assets are not measured at fair value, and consequently are not represented in this</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:82.22pt\">disclosure section:</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">grapevines and agave plantations which remain classified as fixed biological assets valued at cost, net of</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:278.9pt\">accumulated depreciation and accumulated impairment losses,</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:332.21pt\">depreciation and accumulated impairment losses, up to the annual harvest.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Fair value measurement of current biological assets in inventory (agricultural produce: agave, grapes and sugar)</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">is determined based on the sale price net of estimated sales costs, if available, or having as the main reference</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">the total production costs in case the agricultural product is so peculiar that there is an absence of any active</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div>reference market for comparable plantations and similar output in terms of age and qualitative characteristics.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-519": {
   "value": "<div class=\"ps23124 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Inventories and Biological Assets<span id=\"icf3c4835487e44a98dd170f5785536e7\"></span></span></div><div class=\"ps23126 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps23127 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Inventories are stated at the lower of cost and net realisable value. Costs of finished products include raw</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps23128 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">materials, supplies and consumables, direct labour and expenses and an appropriate proportion of production</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps23129 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">and other overheads. Cost is calculated at the weighted average cost incurred in acquiring inventories. Maturing<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23130 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">inventory includes the depreciation cost of the barrels used in the ageing process on a straight-line basis over</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23131 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">the ageing horizon. Maturing inventory, as well as biological assets that, due to their nature, are retained for<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23132 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">more than one year, are classified as current assets, as they are expected to be realised in the normal operating<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23133 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:25.55pt\">cycle.</span></div><div class=\"ps23134 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">For detailed information on the accounting policy for inventory biological assets, please also refer to note 8</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:216.06pt\">iii-\u2018Fair value information on assets and liabilities\u2019</span><div class=\"ps26153 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:133.88pt\">Fair value on biological assets<span class=\"f ps21\"> </span></span></div><div class=\"ps26154 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group\u2019s biological assets include grapes for champagne production, sugar cane plantations for rum</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26155 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">production and agave for tequila/mezcal production, which are used as raw materials for the production of those</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps26156 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:28.87pt\">spirits.</span><span class=\"f charStyle-2293a859 ps6790\" style=\"width:2.77pt\"> </span></div><div class=\"ps26157 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">Grapevines remain classified as fixed biological assets valued at cost, net of accumulated depreciation and</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps17581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">accumulated impairment losses. Immature vines are stated at accumulated cost. Capitalisation of costs ceases<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26158 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">when the vines reach maturity. Depreciation commences when the grapevines are considered mature, which is</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26159 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">when they produce their first commercially viable crop. Grapes growing on the plant are immediately classified</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26160 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">as biological inventory since agricultural output covers a one-year period and the harvest is expected to occur in</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps26161 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">the second half of the year. Taking into account the biological and vegetative cycle, all the costs incurred in</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps15429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">anticipation of the future harvest (services, products and other ancillary costs) are considered as inventory in</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15430 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">current biological assets at the reporting date, at a value that is in line with the fair value of the growing grapes<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15431 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:249.43pt\">based on available information on commodities markets.</span></div><div class=\"ps15433 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">Sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps12184 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">depreciation and accumulated impairment losses up to the harvest, which occurs from February to June. At</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps12185 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">harvest time, the agricultural output that covers a one-year period is classified as an inventory item at a value</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps12186 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">estimated based on the costs of infrastructure, land preparation and sugar cane cultivation, with reference to an</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">active market for comparable plantations and similar output in terms of age and qualitative characteristics, if<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:42.23pt\">available.</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Agave plantations remain classified as fixed biological assets valued at cost, net of accumulated depreciation</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">and accumulated impairment losses. The vegetative cycle for the ripening of the agave fruit is approximately six</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">years. During this period, the agave plants have not yet matured to be used for distillation purposes but can</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">theoretically be sold as medium-aged plants. Agave cannot be distinguished from planting and can only be</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:81.93pt\">harvested once. T</span><span class=\"f charStyle-2293a859 ps26162\" style=\"width:414.26pt\">he value of the growing product is represented as biological inventory and the reported fair</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">value is estimated on the basis of the costs of infrastructure, soil preparation and agave cultivation, in the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">absence of an active reference market for comparable plantations and similar productions in terms of age and</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.42pt\">qualitative characteristics.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The following biological assets are not measured at fair value, and consequently are not represented in this</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:82.22pt\">disclosure section:</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">grapevines and agave plantations which remain classified as fixed biological assets valued at cost, net of</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:278.9pt\">accumulated depreciation and accumulated impairment losses,</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:332.21pt\">depreciation and accumulated impairment losses, up to the annual harvest.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Fair value measurement of current biological assets in inventory (agricultural produce: agave, grapes and sugar)</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">is determined based on the sale price net of estimated sales costs, if available, or having as the main reference</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">the total production costs in case the agricultural product is so peculiar that there is an absence of any active</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div>reference market for comparable plantations and similar output in terms of age and qualitative characteristics.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBiologicalAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-538": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps23192 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:240.55pt\">Financial assets, including trade and other receivables<span class=\"f ps21\"> </span></span></div><div class=\"ps14661 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets include investments, short-term securities and financial receivables, which, in turn, include the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23193 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">positive fair value of financial derivatives, trade and other receivables and cash and cash equivalents. Trade</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23194 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">receivables arise from contracts with customers and are recognised when performance obligations are satisfied,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23195 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">and the consideration due is unconditional as only the passage of time is required before the payment is</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps23196 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:40.56pt\">received.</span></div><div class=\"ps23197 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">Cash and cash equivalents include cash, bank deposits and highly liquid securities that are readily convertible</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23198 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">into cash and are subject to an insignificant risk of a change in value. Deposits and securities included in this</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23199 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">category mature in less than three months based on the conditions existing on the date of the acquisition of the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23200 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">asset. Current securities include short-term securities or marketable securities that represent a temporary</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23202 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:446.61pt\">investment of cash and do not meet the requirements for classification as cash and cash equivalents.</span><span class=\"f charStyle-2293a859 ps23201\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps23204 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Financial assets are classified and measured based on a business model developed by the Group. The</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23205 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">business model has been defined at a level that reflects the way in which groups of financial assets are</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps23206 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">managed to achieve a particular business objective. The model\u2019s measurement process requires an<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23207 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">assessment based on both quantitative and qualitative factors relating to, for example, the way in which the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23208 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">performance of the financial assets in question is communicated to management with strategic responsibilities<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23209 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:364.96pt\">and the way in which the risks connected with these financial assets are managed.</span></div><div class=\"ps22484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:435.43pt\">The Group measures a financial asset at amortised cost if it meets both of the following conditions:</span></div><div class=\"ps23210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.04pt\">it is held under a business model whose objective is to hold assets aiming to collect contractual cash flows;</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:19.45pt\">and,</span></div><div class=\"ps23212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.94pt\">its contractual terms and conditions are such that the cash flows generated by the asset are attributable</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:281.06pt\">exclusively to payments of the principal and the related interest.</span></div><div class=\"ps23214 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">Financial assets measured at amortised cost are measured at fair value at the time of initial recognition;</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps23215 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">subsequent measurements reflect the repayments made, the effects of applying the effective interest method</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">and any write-downs. Any gain or loss made on derecognition is recognised in profit or loss, together with</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:156.69pt\">foreign exchange gains and losses.</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets also include investments in companies that are not held for trading. These assets are strategic</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">investments, and the Group has decided to recognise changes in the related fair values through profit or loss</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:44.4pt\">(\u2018FVTPL\u2019).</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets represented by debt securities are classified and valued in the statement of financial position</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">based on the business model adopted to manage these financial assets and the financial flows associated with</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">each financial asset. They are measured at fair value through other comprehensive income (\u2018FVOCI\u2019) if all the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:198.3pt\">conditions required by IFRS 9 are respected.</span><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:135.52pt\">Impairment of a financial asset</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets are tested for recoverability by applying an impairment model based on the expected credit loss</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:32.76pt\">(\u2018ECL\u2019).</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group applies the simplified method for trade receivables, which considers the probability of default over</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">the financial instrument\u2019s life (lifetime expected credit losses). In making impairment assessments, the Group</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">considers its historical credit loss experience, adjusted for forward-looking factors specific to the nature of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Group\u2019s receivables and economic environment. If any such evidence exists, an impairment loss is recognised</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">under selling, general and administrative expenses. More specifically, non-performing receivables are analysed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">based on the debtor\u2019s creditworthiness and ability to pay the sums due, as well as the degree of effective</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.92pt\">coverage provided by any collateral and personal guarantees in existence.</span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">With regard to trade receivables, two approaches are applied to estimate impairment, based on the specific</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">characteristics of the individual countries in which the Group operates and its constant growth at a global level:</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">one is a matrix-based model and the other applies the probability of default (\u2018PD\u2019) obtained from external</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">sources specialising in the country in which each subsidiary is located. The provision matrix, including the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:331.6pt\">overall actual result of the year, is reported in the relevant disclosure notes.</span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">A financial asset is impaired when internal or external information indicates that it is unlikely that the Group will</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:154.97pt\">receive the full contractual amount.</span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Lastly, with regard to other financial assets measured at amortised cost, and, more specifically, cash and cash</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">equivalents, the impact in terms of expected loss is not considered material and for this reason no adjustment is</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:111.66pt\">made to the book values.</span><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Derecognition of financial assets and liabilities</span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:467.52pt\">primarily derecognised (i.e., removed from the Group\u2019s consolidated statement of financial position) when:</span><span class=\"f charStyle-2293a859 ps23220\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:279.37pt\">the rights to receive cash flows from the asset have expired, or,</span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482pt\">the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">the received cash flows in full without material delay to a third party under a \u2018pass-through\u2019 arrangement and</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.99pt\">either (i) the Group has transferred substantially all the risks and rewards of the asset, or (ii) the Group has</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.01pt\">neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:87.19pt\">control of the asset.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-537": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:238.88pt\">Financial liabilities, including trade and other payables</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Financial liabilities include financial payables, bonds and loans due to banks, which, in turn, include the negative</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">fair value of financial derivatives, trade payables and other payables including contingent consideration and</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:313.32pt\">variable payments deriving from business combinations or asset deals.</span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Financial liabilities are classified and measured at amortised cost, except for financial liabilities that are initially<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">measured at fair value, i.e., derivative instruments, financial liabilities relating to earn-out linked to business</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.29pt\">combinations and financial liabilities for put options over non-controlling interests.</span><span class=\"f charStyle-2293a859 ps23219\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Trade and other payables are initially recognised at fair value including transaction costs and subsequently</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:112.19pt\">carried at amortised cost.</span><span class=\"f charStyle-2293a859 ps3146\" style=\"width:41.55pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Derecognition of financial assets and liabilities</span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">When an existing financial liability is replaced by another from the same lender on substantially different terms,</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">derecognition of the original liability and the recognition of a new liability. The difference in the respective</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:283.26pt\">carrying amounts is recognised in the statement of profit or loss.</span><span class=\"f charStyle-2293a859 ps23221\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">For detailed information on the accounting policy for put and call options over joint-ventures agreements, please</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:423.16pt\">refer to note 3 xii-\u2018Share of profit (loss) of joint-ventures and Profit (loss) from other investments\u2019</span><span class=\"f charStyle-2293a859 ps23222\" style=\"width:2.77pt\">.</span></div><div class=\"ps23556 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Non-Current Financial Debt<span id=\"ie3c881f528ae489cbb051317e709abc7\"></span></span></div><div class=\"ps13787 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> </span></div><div class=\"ps23578 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:102pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps23571\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23572\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps15089 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7288 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">548.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23574 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">548.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21846 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">299.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23575 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">298.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">742.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23576 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">733.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:241.39pt\">Non-current liabilities for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21851 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21647\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23577 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23561\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Non-current bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21852 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps23557\">1,590.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23558 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps21315\">1,580.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:61.05pt\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21853 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">627.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23559 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">916.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:235.2pt\">Non-current assets for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21855 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps23560\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23562 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23561\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6293 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:241.39pt\">Non-current liabilities for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21857 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21647\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23563 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23561\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6297 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:65.65pt\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21859 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">627.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23564 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">916.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21861 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">52.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23565 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">58.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps5134 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Liabilities for put option and earn-out payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21863 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23566 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">164.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:241.39pt\">Non-current liabilities for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21865 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23568 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Other non-current financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21867 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">138.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23569 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">223.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total non-current financial debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21869 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps23557\">2,356.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23570 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps21315\">2,720.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11444 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">The main financial liabilities and the main changes that occurred in the composition of financial liabilities during</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps11446 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:102.75pt\">the year are as follows.</span></div><div class=\"ps23581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:31.16pt\">Bonds<span id=\"ia92728a23ff440a58a2e6296117620da\"></span></span><span class=\"f charStyle-562c451e ps23580\" style=\"width:3.05pt\"> </span></div><div class=\"ps23583 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:98.93pt\">At 31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23582\" style=\"width:397.18pt\">, the Bonds item included the following issues placed by the Parent Company, which are</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23584 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:90pt\">fully \u20ac-denominated.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:187.5pt\"></td><td style=\"padding:0;width:102.75pt\"></td><td style=\"padding:0;width:102.75pt\"></td><td style=\"padding:0;width:102.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7930 ss1783\"><div><div class=\"ps476 ss1782\"><span class=\"f charStyle-183bdf94 ps23585\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22183 ss1785\"><div><div class=\"ps2415 ss1784\"><span class=\"f charStyle-183bdf94 ps6353\">original nominal value<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23587 ss1786\"><div><div class=\"ps2415 ss1784\"><span class=\"f charStyle-183bdf94 ps23586\">maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7282 ss1786\"><div><div class=\"ps2415 ss1784\"><span class=\"f charStyle-183bdf94 ps23588\">coupon rate fixed<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22192 ss1785\"><div><div class=\"ps2415 ss1784\"><span class=\"f charStyle-183bdf94 ps23589\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23590 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps15281\">550.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23592 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps23591\">6/10/2027<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23595 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23593\"></span><span class=\"ps23593\">1.250<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps23594\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16509 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps15281\">300.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23596 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps23591\">18/5/2030<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23597 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23593\"></span><span class=\"ps23593\">4.710<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps23594\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps7973 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps15281\">550.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23598 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps23591\">17/1/2029<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23599 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23593\"></span><span class=\"ps23593\">2.375<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps23594\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-40131897 ps132\">Bond issued in 2024</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16541 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps15281\">220.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23600 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps23591\">25/6/2031<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23601 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23593\"></span><span class=\"ps23593\">4.256<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps23594\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22957 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:20.53pt\"><span style=\"background-color:inherit\">The </span></span><span class=\"f charStyle-58d8bcbe ps23602\" style=\"width:134.39pt\">changes that occurred during </span><span class=\"f charStyle-58d8bcbe ps23603\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps23604\" style=\"width:318.99pt\"> were mainly related to the effects of the amortised cost on non-current</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22958 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:30.01pt\">bonds </span><span class=\"f charStyle-58d8bcbe ps2309\" style=\"width:59.98pt\">(\u20ac9.4 million).</span></div><div class=\"ps22960 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">With reference to the senior unsecured bonds issued in 2024 that are convertible into new and/or existing</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps15150 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">ordinary shares of Davide Campari-Milano N.V. due in 2029, the carrying amount of the host liability is</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23605 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:95.55pt\">composed as follows.</span></div><div class=\"ps23619 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:444pt\"></td><td style=\"padding:0;width:51.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23608 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94 ps23607\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-183bdf94 ps132\">Proceeds for issue of convertible bond<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23609 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94 ps12899\">550.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-183bdf94 ps132\">Transaction costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23611 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:33.99pt\"></span></span><span class=\"ps23610\">(5.8)</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-4b81288d ps132\">Net proceeds in 2024</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23612 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-ba8ac8da ps12899\">544.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-183bdf94 ps132\">Conversion options classified as equity net of transaction costs of \u20ac0.4 million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23614 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:30.1pt\"></span></span><span class=\"ps23613\">(37.2)</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-183bdf94 ps132\">Amortising cost for the year 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23615 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94 ps16519\">7.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-ba8ac8da ps132\">Carrying amount of host liability at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23616 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-ba8ac8da ps12899\">514.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-40131897 ps132\">Amortising cost for the year 2025</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23617 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94 ps16519\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-4b81288d ps132\">Carrying amount of host liability at 31 December 2025</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23618 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-ba8ac8da ps12899\">522.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps14457 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The conversion option was classified as an equity component since the conversion and will result in a fixed</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23620 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">number of notes, that is the outstanding principal amount of the notes, exchanged for a fixed number of ordinary</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps3008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">shares (i.e., since the \u2018fixed-for-fixed\u2019 requirement for the relevant accounting principle was met). The</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17870 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">aforementioned equity component was estimated as the difference between the fair value of the convertible</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17871 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:288.11pt\">bond as a whole and the fair value of the liability component only.</span><span class=\"f charStyle-58d8bcbe ps23621\" style=\"width:2.77pt\"> </span></div><div class=\"ps23624 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:161.86pt\">Liabilities and loans due to banks<span id=\"i3ce7d0abaf2b455f95efb4a4a7c67057\"></span></span><span class=\"f charStyle-562c451e ps23623\" style=\"width:3.05pt\"> </span></div><div class=\"ps1310 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:366.08pt\">This item includes \u20ac-denominated loans entered into with leading banks as follows.<span class=\"f ps21\"> </span></span></div><div class=\"ps23686 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:96pt\"></td><td style=\"padding:0;width:42pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:36pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:157.5pt\"></td><td style=\"padding:0;width:63pt\"></td></tr><tr style=\"height:16.5pt\"><td rowspan=\"3\" style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1789\"><div><div class=\"ps14748 ss1669\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23628 ss365\"><div><div class=\"ps2415 ss271\"><span class=\"f charStyle-183bdf94 ps23625\">original <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss271\"><span class=\"f charStyle-183bdf94 ps23626\">nominal </span></div><div class=\"ps2419 ss271\"><span class=\"f charStyle-183bdf94 ps23627\">value</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23630 ss1790\"><div><div class=\"ps23629 ss288\"><span class=\"f charStyle-183bdf94 ps18013\">residual nominal value<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23632 ss1791\"><div><div class=\"ps14748 ss433\"><span class=\"f charStyle-183bdf94 ps23631\">maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6832 ss1792\"><div><div class=\"ps14748 ss833\"><span class=\"f charStyle-183bdf94 ps1078\">interest rate<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21058 ss1793\"><div><div class=\"ps9449 ss301\"><span class=\"f charStyle-183bdf94 ps11808\">nominal rate at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps9450 ss301\"><span class=\"f charStyle-183bdf94 ps5203\">December 2025<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23634 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps23633\">non-current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23637 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-40131897 ps23635\">current</span><span class=\"f charStyle-85922b7e ps23636\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23638 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps4341\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23640 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps23639\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23641 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-183bdf94 ps19697\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps2968 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps132\">Loan 2021<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23643 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps23642\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23644 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23645 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-183bdf94 ps19695\">100.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23647 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps23646\">30/6/2026<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23649 ss834\"><div><div class=\"ps476 ss833\"><span class=\"f charStyle-183bdf94 ps23648\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21066 ss1794\"><div><div class=\"ps476 ss301\"><span class=\"f charStyle-183bdf94\"><span class=\"ps8816\"></span><span class=\"ps8816\">1.325</span><span class=\"ps23650\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5727 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-40131897 ps132\">Term Loan US 2022</span><span class=\"f charStyle-85922b7e ps23651\"><span class=\"f ps21\"> </span><sup>(2)(6)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23652 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps23642\">357.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23653 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps20562\">166.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23654 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-183bdf94 ps19698\">29.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23655 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps23646\">6/12/2027<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23658 ss834\"><div><div class=\"ps476 ss833\"><span class=\"f charStyle-40131897 ps8949\">floating interest rate linked to Sofr</span><span class=\"f charStyle-85922b7e ps23656\"><span class=\"f ps21\"> </span><sup>(4)</sup></span><span class=\"f charStyle-40131897 ps23657\"> plus spread</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21071 ss1794\"><div><div class=\"ps476 ss301\"><span class=\"f charStyle-183bdf94\"><span class=\"ps8816\"></span><span class=\"ps8816\">5.355</span><span class=\"ps23650\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5196 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-40131897 ps132\">Loan 2023</span><span class=\"f charStyle-85922b7e ps23659\"><sup>(2) (3)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23660 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps23631\">50.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23661 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23662 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-183bdf94 ps19700\">4.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23663 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps23646\">31/3/2026<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23664 ss834\"><div><div class=\"ps476 ss833\"><span class=\"f charStyle-183bdf94 ps23648\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21075 ss1794\"><div><div class=\"ps476 ss301\"><span class=\"f charStyle-183bdf94\"><span class=\"ps8816\"></span><span class=\"ps8816\">3.047</span><span class=\"ps23650\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps924 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-40131897 ps132\">Term Loan 2023</span><span class=\"f charStyle-85922b7e ps23665\"><sup>(2) (3) (5) (6)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23666 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps23642\">400.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23667 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps20562\">328.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23668 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-183bdf94 ps19698\">35.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23669 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps23646\">30/6/2029<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23670 ss834\"><div><div class=\"ps476 ss833\"><span class=\"f charStyle-183bdf94 ps23648\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23671 ss1794\"><div><div class=\"ps476 ss301\"><span class=\"f charStyle-183bdf94\"><span class=\"ps8816\"></span><span class=\"ps8816\">3.469</span><span class=\"ps23650\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps928 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-183bdf94 ps132\">Loan 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23672 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps23642\">125.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23673 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps20562\">124.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23674 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-183bdf94 ps19699\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23675 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps8974\">07/11/29<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23676 ss834\"><div><div class=\"ps476 ss833\"><span class=\"f charStyle-183bdf94 ps23648\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23677 ss1794\"><div><div class=\"ps476 ss301\"><span class=\"f charStyle-183bdf94\"><span class=\"ps8816\"></span><span class=\"ps8816\">3.319</span><span class=\"ps23650\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6443 ss1670\"><div><div class=\"ps476 ss1669\"><span class=\"f charStyle-40131897 ps132\">Other Group company loans</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23679 ss272\"><div><div class=\"ps476 ss271\"><span class=\"f charStyle-183bdf94 ps23678\">111.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23681 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps23680\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23682 ss206\"><div><div class=\"ps476 ss205\"><span class=\"f charStyle-183bdf94 ps19695\">102.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23683 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-40131897 ps17672\">multiple</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23684 ss834\"><div><div class=\"ps476 ss833\"><span class=\"f charStyle-40131897 ps20615\">variable rate</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23685 ss1794\"><div><div class=\"ps485 ss301\"><span class=\"f charStyle-183bdf94\"><span class=\"ps8816\"></span><span class=\"ps8816\">4.634</span><span class=\"ps23650\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:219.19pt\">The current portion is classified in current liabilities-loans due to banks.</span><span class=\"f charStyle-40131897 ps23687\" style=\"width:1.94pt\"> </span></div><div class=\"ps23689 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:306.15pt\">Variable interest rate component linked to business performance (Debt/EBITDA adjusted indicator).</span></div><div class=\"ps23690 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:243.57pt\">Variable interest rate component applicable and related to certain ESG targets.<span class=\"f ps21\"> </span></span></div><div class=\"ps23691 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(4) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:131.3pt\">Secured Overnight Financing Rate ('Sofr').<span class=\"f ps21\"> </span></span></div><div class=\"ps23692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(5)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.54pt\"> The loan was accompanied by a revolving credit facility for the same amount, hence an agreement for a total amount equal up to \u20ac800 million with a pool of</span><span class=\"f charStyle-40131897 ps372\" style=\"width:1.94pt\"> </span></div><div class=\"ps23693 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:219.1pt\">banks. The revolving credit facility was not used at 31 December 2025.</span></div><div class=\"ps23694 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(6) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:87.07pt\">Included related derivatives.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:41.25pt\"></td><td style=\"padding:0;width:161.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1795\"><div><div class=\"ps10076 ss338\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15573 ss1796\"><div><div class=\"ps4101 ss1397\"><span class=\"f charStyle-183bdf94 ps23695\">original <span class=\"f ps21\"> </span></span></div><div class=\"ps4103 ss1397\"><span class=\"f charStyle-183bdf94 ps23696\">nominal value</span></div></div></div></td><td colspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11951 ss1406\"><div><div class=\"ps476 ss1403\"><span class=\"f charStyle-183bdf94 ps5175\">residual nominal value<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23698 ss1797\"><div><div class=\"ps10076 ss214\"><span class=\"f charStyle-183bdf94 ps23697\">maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22082 ss1799\"><div><div class=\"ps10076 ss1798\"><span class=\"f charStyle-183bdf94 ps21397\">interest rate<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21081 ss1800\"><div><div class=\"ps10103 ss197\"><span class=\"f charStyle-183bdf94 ps11770\">nominal rate at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps10104 ss197\"><span class=\"f charStyle-183bdf94 ps8959\">December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps23699 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps14883\">non-current<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23702 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-40131897 ps23700\">current</span><span class=\"f charStyle-85922b7e ps23701\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23704 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps23703\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23705 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps15076\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23707 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps23706\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:12pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1781\"><div><div class=\"ps13029 ss338\"><span class=\"f charStyle-183bdf94 ps132\">Loan 2021<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23708 ss1801\"><div><div class=\"ps13029 ss1397\"><span class=\"f charStyle-183bdf94 ps20436\">100.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23710 ss1802\"><div><div class=\"ps13029 ss1233\"><span class=\"f charStyle-183bdf94 ps23709\">101.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23711 ss1803\"><div><div class=\"ps13029 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23712 ss1804\"><div><div class=\"ps13029 ss214\"><span class=\"f charStyle-183bdf94 ps12106\">30/06/26<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22087 ss1805\"><div><div class=\"ps13029 ss1798\"><span class=\"f charStyle-183bdf94 ps23713\">fixed rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4140 ss1806\"><div><div class=\"ps13029 ss197\"><span class=\"f charStyle-183bdf94 ps23714\">1.325%</span></div></div></div></td></tr><tr style=\"height:12pt\"><td style=\"padding:0\"><div class=\"ps14981 ss1781\"><div><div class=\"ps13029 ss338\"><span class=\"f charStyle-183bdf94 ps132\">Loan 2022<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23716 ss1801\"><div><div class=\"ps13029 ss1397\"><span class=\"f charStyle-183bdf94 ps23715\">50.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23718 ss1802\"><div><div class=\"ps13029 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23720 ss1803\"><div><div class=\"ps13029 ss179\"><span class=\"f charStyle-183bdf94 ps23719\">50.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23721 ss1804\"><div><div class=\"ps13029 ss214\"><span class=\"f charStyle-183bdf94 ps12106\">10/10/25<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23723 ss1805\"><div><div class=\"ps13029 ss1798\"><span class=\"f charStyle-183bdf94 ps23722\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23724 ss1806\"><div><div class=\"ps13029 ss197\"><span class=\"f charStyle-183bdf94 ps23714\">3.740%</span></div></div></div></td></tr><tr style=\"height:12pt\"><td style=\"padding:0\"><div class=\"ps23725 ss1781\"><div><div class=\"ps13029 ss338\"><span class=\"f charStyle-40131897 ps132\">Term Loan US 2022</span><span class=\"f charStyle-85922b7e ps23651\"><sup>(2)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23726 ss1801\"><div><div class=\"ps13029 ss1397\"><span class=\"f charStyle-183bdf94 ps20436\">404.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23727 ss1802\"><div><div class=\"ps13029 ss1233\"><span class=\"f charStyle-183bdf94 ps23709\">321.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23728 ss1803\"><div><div class=\"ps13029 ss179\"><span class=\"f charStyle-183bdf94 ps23719\">28.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23729 ss1804\"><div><div class=\"ps13029 ss214\"><span class=\"f charStyle-183bdf94 ps12106\">06/12/27<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23733 ss1805\"><div><div class=\"ps13029 ss1798\"><span class=\"f charStyle-40131897 ps23730\">floating interest rate linked to Sofr</span><span class=\"f charStyle-85922b7e ps23731\"><sup>(4)</sup></span><span class=\"f charStyle-40131897 ps23732\"> plus spread</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23734 ss1806\"><div><div class=\"ps13029 ss197\"><span class=\"f charStyle-183bdf94 ps23714\">6.167%</span></div></div></div></td></tr><tr style=\"height:12pt\"><td style=\"padding:0\"><div class=\"ps5738 ss1781\"><div><div class=\"ps13029 ss338\"><span class=\"f charStyle-40131897 ps132\">Loan 2023</span><span class=\"f charStyle-85922b7e ps23659\"><sup>(2) (3)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23735 ss1801\"><div><div class=\"ps13029 ss1397\"><span class=\"f charStyle-183bdf94 ps23715\">50.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23736 ss1802\"><div><div class=\"ps13029 ss1233\"><span class=\"f charStyle-183bdf94 ps23072\">4.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23737 ss1803\"><div><div class=\"ps13029 ss179\"><span class=\"f charStyle-183bdf94 ps23719\">16.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23738 ss1804\"><div><div class=\"ps13029 ss214\"><span class=\"f charStyle-183bdf94 ps12106\">31/03/26<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23739 ss1805\"><div><div class=\"ps13029 ss1798\"><span class=\"f charStyle-183bdf94 ps23722\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23740 ss1806\"><div><div class=\"ps13029 ss197\"><span class=\"f charStyle-183bdf94 ps23714\">3.720%</span></div></div></div></td></tr><tr style=\"height:12pt\"><td style=\"padding:0\"><div class=\"ps510 ss1781\"><div><div class=\"ps13029 ss338\"><span class=\"f charStyle-40131897 ps132\">Term Loan 2023</span><span class=\"f charStyle-85922b7e ps23665\"><sup>(2) (3) (4)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23741 ss1801\"><div><div class=\"ps13029 ss1397\"><span class=\"f charStyle-183bdf94 ps20436\">400.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23742 ss1802\"><div><div class=\"ps13029 ss1233\"><span class=\"f charStyle-183bdf94 ps23709\">363.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23743 ss1803\"><div><div class=\"ps13029 ss179\"><span class=\"f charStyle-183bdf94 ps23719\">35.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23744 ss1804\"><div><div class=\"ps13029 ss214\"><span class=\"f charStyle-183bdf94 ps12106\">30/06/29<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23745 ss1805\"><div><div class=\"ps13029 ss1798\"><span class=\"f charStyle-183bdf94 ps23722\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23746 ss1806\"><div><div class=\"ps13029 ss197\"><span class=\"f charStyle-183bdf94 ps23714\">4.133%</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps13145 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps132\">Loan 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23747 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps20436\">125.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23748 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23709\">124.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23749 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23751 ss224\"><div><div class=\"ps476 ss214\"><span class=\"f charStyle-183bdf94 ps23750\">07/11/28<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23752 ss1807\"><div><div class=\"ps476 ss1798\"><span class=\"f charStyle-183bdf94 ps23722\">floating interest rate linked to Euribor plus spread<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23753 ss209\"><div><div class=\"ps476 ss197\"><span class=\"f charStyle-183bdf94 ps23714\">3.983%</span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps14171 ss1808\"><div><div class=\"ps23754 ss338\"><span class=\"f charStyle-40131897 ps132\">Other Group company loans</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23755 ss1809\"><div><div class=\"ps23754 ss1397\"><span class=\"f charStyle-183bdf94 ps20436\">159.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23756 ss1810\"><div><div class=\"ps23754 ss1233\"><span class=\"f charStyle-183bdf94 ps23072\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23757 ss1811\"><div><div class=\"ps23754 ss179\"><span class=\"f charStyle-183bdf94 ps13745\">159.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23759 ss1812\"><div><div class=\"ps23754 ss1798\"><span class=\"f charStyle-40131897 ps23758\">variable rate</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23760 ss1813\"><div><div class=\"ps23754 ss197\"><span class=\"f charStyle-183bdf94 ps23714\">4.966%</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23761 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:219.19pt\">The current portion is classified in current liabilities-loans due to banks.</span></div><div class=\"ps23762 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:306.15pt\">Variable interest rate component linked to business performance (Debt/EBITDA adjusted indicator).</span></div><div class=\"ps23763 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:243.57pt\">Variable interest rate component applicable and related to certain ESG targets.</span></div><div class=\"ps23764 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(4) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:131.3pt\">Secured Overnight Financing Rate ('Sofr').<span class=\"f ps21\"> </span></span></div><div class=\"ps23765 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(5)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.54pt\"> The loan was accompanied by a revolving credit facility for the same amount, hence an agreement for a total amount equal up to \u20ac800 million with a pool of</span><span class=\"f charStyle-40131897 ps372\" style=\"width:1.94pt\"> </span></div><div class=\"ps23766 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:219.1pt\">banks. The revolving credit facility was not used at 31 December 2025.</span></div><div class=\"ps23768 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">The total decrease compared to last year primarily reflected the repayment, in October 2025 of a loan with</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23769 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">nominal amount of \u20ac50.0 million by Davide Campari-Milano N.V., together with scheduled repayments of other</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23770 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">financing arrangements, mainly those of Davide Campari- Milano N.V. amounting to \u20ac101.8 million and \u20ac155.6</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23771 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">million denominated in US$ (current and non-current). The movements recorded during the year also included</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23772 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">the reclassification between current and non\u2011current portions, determined in accordance with the contractual</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23773 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:209.41pt\">maturity profile of the underlying arrangements.</span></div><div class=\"ps23775 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:183.21pt\">Liabilities for put options and earn-out<span id=\"i7001c33dc89a4ff28bca411b24abe274\"></span></span></div><div class=\"ps23793 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:146.25pt\"></td><td style=\"padding:0;width:60.75pt\"></td><td style=\"padding:0;width:104.25pt\"></td><td style=\"padding:0;width:184.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23778 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-183bdf94 ps23777\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4586 ss1816\"><div><div class=\"ps23779 ss1014\"><span class=\"f charStyle-d669f8f1 ps11805\">variation impacting profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps22862 ss1817\"><div><div class=\"ps23780 ss1041\"><span class=\"f charStyle-d669f8f1 ps18328\">variation impacting Group net equity (retained earning or <span class=\"f ps21\"> </span></span></div><div class=\"ps23782 ss1041\"><span class=\"f charStyle-d669f8f1 ps23781\">currency translation differences)</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23783 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-ba8ac8da ps21089\">164.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">remeasurement<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23785 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-183bdf94 ps23784\">(65.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6316 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23786\">(49.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4514 ss1042\"><div><div class=\"ps6279 ss1041\"><span class=\"f charStyle-d669f8f1 ps23787\">(15.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23788 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-183bdf94 ps23784\">(13.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6328 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23789\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4526 ss1042\"><div><div class=\"ps6279 ss1041\"><span class=\"f charStyle-d669f8f1 ps23787\">(13.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23790 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-ba8ac8da ps21133\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1815\"><div><div class=\"ps6279 ss1814\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23791 ss225\"><div><div class=\"ps6279 ss210\"><span class=\"f charStyle-d669f8f1 ps21133\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1815\"><div><div class=\"ps6279 ss1814\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at amortised cost<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23792 ss225\"><div><div class=\"ps6279 ss210\"><span class=\"f charStyle-d669f8f1 ps21092\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps23808 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:146.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:104.25pt\"></td><td style=\"padding:0;width:186pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23778 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23795\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23796 ss1816\"><div><div class=\"ps23779 ss1014\"><span class=\"f charStyle-d669f8f1 ps11805\">variation impacting profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6268 ss1818\"><div><div class=\"ps23780 ss341\"><span class=\"f charStyle-d669f8f1 ps23797\">variation impacting Group net equity (retained earning or <span class=\"f ps21\"> </span></span></div><div class=\"ps23782 ss341\"><span class=\"f charStyle-d669f8f1 ps23798\">currency translation differences)</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23783 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps23372\">209.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">perimeter effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23785 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16618\">48.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23799 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23789\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6273 ss342\"><div><div class=\"ps6279 ss341\"><span class=\"f charStyle-d669f8f1 ps6951\">48.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">remeasurement<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23788 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(46.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23801 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23800\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23803 ss342\"><div><div class=\"ps6279 ss341\"><span class=\"f charStyle-d669f8f1 ps23802\">(47.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">reclassification to current liability<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23790 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(55.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23804 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23789\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23791 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">8.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23805 ss1015\"><div><div class=\"ps6279 ss1014\"><span class=\"f charStyle-d669f8f1 ps23789\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9005 ss342\"><div><div class=\"ps6279 ss341\"><span class=\"f charStyle-d669f8f1 ps7241\">8.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1815\"><div><div class=\"ps485 ss1814\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23792 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps23372\">164.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1815\"><div><div class=\"ps6279 ss1814\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23806 ss1400\"><div><div class=\"ps6279 ss304\"><span class=\"f charStyle-d669f8f1 ps23372\">164.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1815\"><div><div class=\"ps6279 ss1814\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at amortised cost<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23807 ss1400\"><div><div class=\"ps6279 ss304\"><span class=\"f charStyle-d669f8f1 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps23811 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:101.51pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22918\" style=\"width:6.97pt\">, </span><span class=\"f charStyle-58d8bcbe ps22919\" style=\"width:173.8pt\">the long-term portion mainly included </span><span class=\"f charStyle-58d8bcbe ps23810\" style=\"width:213.87pt\">the estimated payable for put options linked to</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps23812 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">Wilderness Trail Distillery, totalling \u20ac86.9 million, whose value decreased by \u20ac29.0 million, depending on the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps23813 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">remeasurement and exchange rate effects, as well as the estimated payable for earn-out linked to Courvoisier</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps23815 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:484.99pt\">totalling \u20ac0.3 million, whose value decreased by \u20ac49.6 million, depending on the remeasurement effects. T</span><span class=\"f charStyle-58d8bcbe ps23814\" style=\"width:11.12pt\">he</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">estimated payable for the earn-out related to Campari Japan Ltd. was negligible (unchanged compared to</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:28.34pt\">2024).</span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vi.\u00a0  Current Financial Debt<span id=\"i6f9db66bdc9c47dda8c6a00fe6a097d8\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps23837 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:333pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:79.5pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7506 ss998\"><div><div class=\"ps473 ss288\"><span class=\"f charStyle-183bdf94 ps5366\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20855 ss1820\"><div><div class=\"ps473 ss1623\"><span class=\"f charStyle-183bdf94 ps22963\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23820 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23819\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16081 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps23821\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1126 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-ba8ac8da ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23822 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps19872\">272.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps16091 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-ba8ac8da ps20464\">289.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps490 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Accrued interest on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23824 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23823\">21.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16099 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps23825\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23826 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23823\">19.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16106 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps23825\">18.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Liabilities for put option and earn-out payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23828 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16114 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps20482\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps1043 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps7998 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23829 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps20482\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps4628 ss1821\"><div><div class=\"ps485 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedging derivatives not reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23830 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23831 ss1627\"><div><div class=\"ps485 ss1623\"><span class=\"f charStyle-183bdf94 ps20482\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6894 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Other financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23832 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23823\">25.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps20908 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps20482\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5271 ss1821\"><div><div class=\"ps476 ss1819\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:106.83pt\">Other current financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23833 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23823\">69.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23834 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-ba8ac8da ps23825\">52.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6904 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-ba8ac8da ps132\">Current financial debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23835 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps19872\">341.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23836 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-ba8ac8da ps20464\">341.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23839 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">The main financial liabilities and the main changes that occurred in the composition of financial liabilities during</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23840 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:102.75pt\">the year are as follows.</span></div><div class=\"ps23842 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:161.86pt\">Liabilities and loans due to banks<span id=\"ie1c7a0b8355a405b9d387c32d183c6e0\"></span></span><span class=\"f charStyle-562c451e ps23623\" style=\"width:3.05pt\"> </span></div><div class=\"ps23844 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:97.85pt\">At 31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23843\" style=\"width:398.33pt\">, loans due to banks were broadly in line with the balance reported at 31 December 2024.</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">For details of the main movements, refer to note 6 vi-'Current financial debt. The changes mainly reflected the</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23846 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">ongoing active management of the Group\u2019s debt profile, aimed at further strengthening the financial position and</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps23848 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:418.86pt\">enhancing flexibility to respond promptly to the prevailing volatile macroeconomic environment.</span><span class=\"f charStyle-58d8bcbe ps23847\" style=\"width:2.77pt\"> </span></div><div class=\"ps23850 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:233.91pt\">Liabilities for put options and earn-out payments<span id=\"i0cc082e6cc9048f0aefa00ad385a0328\"></span></span></div><div class=\"ps23852 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:97.25pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps6908\" style=\"width:398.92pt\">, the short-term portion of the item included a liability of \u20ac3.1 million for the purchase of the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps23854 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:435.68pt\">residual non-controlling shares in J. Wray&amp;Nephew Ltd., secured by restricted bank account and </span><span class=\"f charStyle-58d8bcbe ps23853\" style=\"width:60.53pt\">the estimated</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23855 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:376.93pt\">payable for the earn-out related to CT Spirits Japan Ltd. in the amount of \u20ac0.1 million.</span></div><div class=\"ps23863 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:201.75pt\"></td><td style=\"padding:0;width:95.25pt\"></td><td style=\"padding:0;width:95.25pt\"></td><td style=\"padding:0;width:103.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss892\"><div><div class=\"ps485 ss891\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps9100 ss1823\"><div><div class=\"ps23780 ss1822\"><span class=\"f charStyle-d669f8f1 ps23857\">variation impacting profit or <span class=\"f ps21\"> </span></span></div><div class=\"ps23782 ss1822\"><span class=\"f charStyle-d669f8f1 ps23858\">loss</span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps18650 ss1824\"><div><div class=\"ps23780 ss1470\"><span class=\"f charStyle-d669f8f1 ps16471\">variation impacting Group net <span class=\"f ps21\"> </span></span></div><div class=\"ps23782 ss1470\"><span class=\"f charStyle-d669f8f1 ps23859\">equity or investment value</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss892\"><div><div class=\"ps485 ss891\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps15081 ss1825\"><div><div class=\"ps485 ss1822\"><span class=\"f charStyle-ba8ac8da ps23860\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss892\"><div><div class=\"ps485 ss891\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps18339 ss1825\"><div><div class=\"ps485 ss1822\"><span class=\"f charStyle-183bdf94 ps23861\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21298 ss1825\"><div><div class=\"ps6279 ss1822\"><span class=\"f charStyle-d669f8f1 ps23861\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps19366 ss1471\"><div><div class=\"ps6279 ss1470\"><span class=\"f charStyle-d669f8f1 ps19322\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss892\"><div><div class=\"ps485 ss891\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23862 ss1825\"><div><div class=\"ps485 ss1822\"><span class=\"f charStyle-ba8ac8da ps23860\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss892\"><div><div class=\"ps6279 ss891\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps19599 ss1825\"><div><div class=\"ps6279 ss1822\"><span class=\"f charStyle-d669f8f1 ps23860\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss892\"><div><div class=\"ps6279 ss891\"><span class=\"f charStyle-d669f8f1 ps132\">of which measured at amortised cost<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps19606 ss1825\"><div><div class=\"ps6279 ss1822\"><span class=\"f charStyle-d669f8f1 ps23860\">3.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps23880 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:200.25pt\"></td><td style=\"padding:0;width:98.25pt\"></td><td style=\"padding:0;width:98.25pt\"></td><td style=\"padding:0;width:98.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:1pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23867 ss1826\"><div><div class=\"ps23780 ss553\"><span class=\"f charStyle-d669f8f1 ps23865\">variation impacting profit or <span class=\"f ps21\"> </span></span></div><div class=\"ps23782 ss553\"><span class=\"f charStyle-d669f8f1 ps23866\">loss</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:1pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1826\"><div><div class=\"ps23780 ss553\"><span class=\"f charStyle-0788a2e8 ps23868\">variation impacting Group net </span></div><div class=\"ps23782 ss553\"><span class=\"f charStyle-0788a2e8 ps16473\">equity or investment value</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt solid #000;padding:0\"><div class=\"ps1081 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:1pt solid #000;padding:0\"><div class=\"ps20561 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-ba8ac8da ps23869\">26.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:1pt solid #000;padding:0\"><div class=\"ps1105 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #000;padding:0\"><div class=\"ps22448 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps23870\">(77.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #000;padding:0\"><div class=\"ps23872 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:1pt solid #000;padding:0\"><div class=\"ps23574 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">Remeasurement<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22452 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps23873\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23874 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23575 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23873\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">reclassification from non-current liability<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22454 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps23869\">55.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23875 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23576 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22457 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-183bdf94 ps15995\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23876 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps15995\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23577 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps15995\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22461 ss554\"><div><div class=\"ps485 ss553\"><span class=\"f charStyle-ba8ac8da ps23873\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23877 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23558 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">of which measured at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22463 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23873\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23878 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23559 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1637\"><div><div class=\"ps485 ss1636\"><span class=\"f charStyle-183bdf94 ps132\">of which measured at amortised cost<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22467 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23873\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23879 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23562 ss554\"><div><div class=\"ps6279 ss553\"><span class=\"f charStyle-d669f8f1 ps23871\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-536": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:205.01pt\">Financial derivatives and hedging transactions</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Financial derivatives embedded in contracts in which the primary element is a financial asset that falls within the</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">scope of IFRS 9 are not treated separately. The hybrid instrument is instead examined as a whole for</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.85pt\">classification in the statement of financial position and subsequent measurement.</span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Financial derivatives are used exclusively for hedging purposes to reduce exchange and interest rate risk. They</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">are only accounted for by applying the methods established for hedge accounting (fair value hedge or cash flow</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">hedge) if, at the start of the hedging period, the hedging relationship has been designated. It is assumed that the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">hedge is highly effective: this effectiveness must be reliably measured during the accounting periods for which it</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:286.62pt\">is designated. All financial derivatives are measured at fair value.</span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Where financial instruments meet the requirements to be reported using hedge accounting procedures, the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.08pt\">accounting treatment related to fair value hedge or cash flow hedge is applied.<span class=\"f ps21\"> </span></span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">If hedge accounting cannot be applied, any gains or losses resulting from measuring the financial derivative at</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:268.24pt\">its present value are posted to the statement of profit or loss.</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The Group is exposed to certain risks related to its ongoing business operations. The primary risks managed</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:329.93pt\">using derivative instruments are foreign currency risk and interest rate risk.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Derivatives are designated as hedging instruments in the form of i) foreign exchange forward and option</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">contracts, elected as cash flow hedges to hedge highly probable forecast sales and purchases in different</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">currencies compared to \u20ac and, ii) interest-rate swap contracts to mitigate the risk associated with variable</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:378.85pt\">interest rate changes on loan and bond agreements not issued at a fixed interest rate.</span><span class=\"f charStyle-2293a859 ps23223\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The Group also uses derivatives not designated as hedging instruments to reflect the change in fair value of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">foreign exchange rates of forward and option contracts that are not elected in hedge relationships, but are,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:443.86pt\">nevertheless, intended to reduce the level of foreign currency risk for expected sales and purchases.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">For Campari Group, net exposure to foreign exchange effects is limited to highly probable intra-group</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">transactions among Group companies relating to certain sales and purchases, regulated in currencies other</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:19.45pt\">than</span><span class=\"f charStyle-58d8bcbe ps23224\" style=\"width:4.3pt\"> </span><span class=\"f charStyle-2293a859 ps23225\" style=\"width:472.48pt\">the functional currencies of the companies. Although these transactions represent only a portion of the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">overall business, the Group determines the net exposure to the primary currencies (US$, GBP, AUD) based on</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">its predicted intercompany sales and purchases up to 18 months. Moreover, the Group determines the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">existence of an economic relationship between the hedging instrument and hedged item based on the currency,</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">amount and timing of their respective cash flows. The Group\u2019s reference is the budget exposure split by</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">currencies and, as effectively as possible, any under/over exposure which may arise through plain vanilla</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">currency derivatives. The derivative covers the period of exposure from the point the cash flows of the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">transactions forecasted up to the point of settlement of the resulting receivable or payable that is denominated in</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">the foreign currency. Derivative contracts aiming to mitigate currency exchange risks are dynamically and</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">qualitatively managed based on business needs and specific contexts and circumstances. These are not framed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">within fixed or quantitative policies regarding the percentage of coverage to be achieved. To avoid excessive</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">coverage, the budget for future transactions is typically hedged at a level between 50% and 90% throughout the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.45pt\">whole year. In the hedge relationships the main sources of ineffectiveness are:</span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:215.35pt\">interest rate differentials between currencies and</span><span class=\"f charStyle-2293a859 ps23226\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.04pt\">discrepancies between invoices issued and hedging contracts (i.e., changes in the timing of the hedge</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.99pt\">transaction).</span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Regarding derivative contracts intended to hedge interest rate exposures, they are namely connected with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">financing and there is no established quantitative policy concerning the optimal level of exposure to fixed or<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">variable rates: the Group manages its interest rate risk by having a balanced portfolio of fixed and variable rate</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">loans and borrowings. The preferred exposure to fixed or variable rates is dynamically managed centrally within</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">the Group, considering current and future market conditions, the Group's level of indebtedness, business</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">performance and in the context of the Group's expansion initiatives. The Group determines the existence of an</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">economic relationship between the hedging instrument and hedged item based on the reference interest rates,</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">tenors, repricing dates and maturities and the notional or par amount.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-535": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps23197 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">Cash and cash equivalents include cash, bank deposits and highly liquid securities that are readily convertible</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23198 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">into cash and are subject to an insignificant risk of a change in value. Deposits and securities included in this</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23199 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">category mature in less than three months based on the conditions existing on the date of the acquisition of the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23200 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">asset. Current securities include short-term securities or marketable securities that represent a temporary</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:446.61pt\">investment of cash and do not meet the requirements for classification as cash and cash equivalents.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-534": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:205.01pt\">Financial derivatives and hedging transactions</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Financial derivatives embedded in contracts in which the primary element is a financial asset that falls within the</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">scope of IFRS 9 are not treated separately. The hybrid instrument is instead examined as a whole for</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.85pt\">classification in the statement of financial position and subsequent measurement.</span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Financial derivatives are used exclusively for hedging purposes to reduce exchange and interest rate risk. They</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">are only accounted for by applying the methods established for hedge accounting (fair value hedge or cash flow</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">hedge) if, at the start of the hedging period, the hedging relationship has been designated. It is assumed that the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">hedge is highly effective: this effectiveness must be reliably measured during the accounting periods for which it</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:286.62pt\">is designated. All financial derivatives are measured at fair value.</span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Where financial instruments meet the requirements to be reported using hedge accounting procedures, the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.08pt\">accounting treatment related to fair value hedge or cash flow hedge is applied.<span class=\"f ps21\"> </span></span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">If hedge accounting cannot be applied, any gains or losses resulting from measuring the financial derivative at</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:268.24pt\">its present value are posted to the statement of profit or loss.</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The Group is exposed to certain risks related to its ongoing business operations. The primary risks managed</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:329.93pt\">using derivative instruments are foreign currency risk and interest rate risk.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Derivatives are designated as hedging instruments in the form of i) foreign exchange forward and option</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">contracts, elected as cash flow hedges to hedge highly probable forecast sales and purchases in different</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">currencies compared to \u20ac and, ii) interest-rate swap contracts to mitigate the risk associated with variable</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:378.85pt\">interest rate changes on loan and bond agreements not issued at a fixed interest rate.</span><span class=\"f charStyle-2293a859 ps23223\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The Group also uses derivatives not designated as hedging instruments to reflect the change in fair value of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">foreign exchange rates of forward and option contracts that are not elected in hedge relationships, but are,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:443.86pt\">nevertheless, intended to reduce the level of foreign currency risk for expected sales and purchases.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">For Campari Group, net exposure to foreign exchange effects is limited to highly probable intra-group</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">transactions among Group companies relating to certain sales and purchases, regulated in currencies other</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:19.45pt\">than</span><span class=\"f charStyle-58d8bcbe ps23224\" style=\"width:4.3pt\"> </span><span class=\"f charStyle-2293a859 ps23225\" style=\"width:472.48pt\">the functional currencies of the companies. Although these transactions represent only a portion of the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">overall business, the Group determines the net exposure to the primary currencies (US$, GBP, AUD) based on</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">its predicted intercompany sales and purchases up to 18 months. Moreover, the Group determines the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">existence of an economic relationship between the hedging instrument and hedged item based on the currency,</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">amount and timing of their respective cash flows. The Group\u2019s reference is the budget exposure split by</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">currencies and, as effectively as possible, any under/over exposure which may arise through plain vanilla</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">currency derivatives. The derivative covers the period of exposure from the point the cash flows of the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">transactions forecasted up to the point of settlement of the resulting receivable or payable that is denominated in</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">the foreign currency. Derivative contracts aiming to mitigate currency exchange risks are dynamically and</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">qualitatively managed based on business needs and specific contexts and circumstances. These are not framed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">within fixed or quantitative policies regarding the percentage of coverage to be achieved. To avoid excessive</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">coverage, the budget for future transactions is typically hedged at a level between 50% and 90% throughout the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.45pt\">whole year. In the hedge relationships the main sources of ineffectiveness are:</span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:215.35pt\">interest rate differentials between currencies and</span><span class=\"f charStyle-2293a859 ps23226\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.04pt\">discrepancies between invoices issued and hedging contracts (i.e., changes in the timing of the hedge</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.99pt\">transaction).</span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Regarding derivative contracts intended to hedge interest rate exposures, they are namely connected with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">financing and there is no established quantitative policy concerning the optimal level of exposure to fixed or<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">variable rates: the Group manages its interest rate risk by having a balanced portfolio of fixed and variable rate</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">loans and borrowings. The preferred exposure to fixed or variable rates is dynamically managed centrally within</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">the Group, considering current and future market conditions, the Group's level of indebtedness, business</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">performance and in the context of the Group's expansion initiatives. The Group determines the existence of an</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">economic relationship between the hedging instrument and hedged item based on the reference interest rates,</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">tenors, repricing dates and maturities and the notional or par amount.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-533": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets also include investments in companies that are not held for trading. These assets are strategic</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">investments, and the Group has decided to recognise changes in the related fair values through profit or loss</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:44.4pt\">(\u2018FVTPL\u2019).</span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:238.88pt\">Financial liabilities, including trade and other payables</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Financial liabilities include financial payables, bonds and loans due to banks, which, in turn, include the negative</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">fair value of financial derivatives, trade payables and other payables including contingent consideration and</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:313.32pt\">variable payments deriving from business combinations or asset deals.</span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Financial liabilities are classified and measured at amortised cost, except for financial liabilities that are initially<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">measured at fair value, i.e., derivative instruments, financial liabilities relating to earn-out linked to business</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.29pt\">combinations and financial liabilities for put options over non-controlling interests.</span><span class=\"f charStyle-2293a859 ps23219\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Trade and other payables are initially recognised at fair value including transaction costs and subsequently</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:112.19pt\">carried at amortised cost.</span><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:205.01pt\">Financial derivatives and hedging transactions</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Financial derivatives embedded in contracts in which the primary element is a financial asset that falls within the</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">scope of IFRS 9 are not treated separately. The hybrid instrument is instead examined as a whole for</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.85pt\">classification in the statement of financial position and subsequent measurement.</span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Financial derivatives are used exclusively for hedging purposes to reduce exchange and interest rate risk. They</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">are only accounted for by applying the methods established for hedge accounting (fair value hedge or cash flow</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">hedge) if, at the start of the hedging period, the hedging relationship has been designated. It is assumed that the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">hedge is highly effective: this effectiveness must be reliably measured during the accounting periods for which it</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:286.62pt\">is designated. All financial derivatives are measured at fair value.</span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Where financial instruments meet the requirements to be reported using hedge accounting procedures, the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.08pt\">accounting treatment related to fair value hedge or cash flow hedge is applied.<span class=\"f ps21\"> </span></span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">If hedge accounting cannot be applied, any gains or losses resulting from measuring the financial derivative at</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:268.24pt\">its present value are posted to the statement of profit or loss.</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The Group is exposed to certain risks related to its ongoing business operations. The primary risks managed</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:329.93pt\">using derivative instruments are foreign currency risk and interest rate risk.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Derivatives are designated as hedging instruments in the form of i) foreign exchange forward and option</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">contracts, elected as cash flow hedges to hedge highly probable forecast sales and purchases in different</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">currencies compared to \u20ac and, ii) interest-rate swap contracts to mitigate the risk associated with variable</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:378.85pt\">interest rate changes on loan and bond agreements not issued at a fixed interest rate.</span><span class=\"f charStyle-2293a859 ps23223\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The Group also uses derivatives not designated as hedging instruments to reflect the change in fair value of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">foreign exchange rates of forward and option contracts that are not elected in hedge relationships, but are,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:443.86pt\">nevertheless, intended to reduce the level of foreign currency risk for expected sales and purchases.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">For Campari Group, net exposure to foreign exchange effects is limited to highly probable intra-group</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">transactions among Group companies relating to certain sales and purchases, regulated in currencies other</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:19.45pt\">than</span><span class=\"f charStyle-58d8bcbe ps23224\" style=\"width:4.3pt\"> </span><span class=\"f charStyle-2293a859 ps23225\" style=\"width:472.48pt\">the functional currencies of the companies. Although these transactions represent only a portion of the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">overall business, the Group determines the net exposure to the primary currencies (US$, GBP, AUD) based on</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">its predicted intercompany sales and purchases up to 18 months. Moreover, the Group determines the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">existence of an economic relationship between the hedging instrument and hedged item based on the currency,</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">amount and timing of their respective cash flows. The Group\u2019s reference is the budget exposure split by</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">currencies and, as effectively as possible, any under/over exposure which may arise through plain vanilla</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">currency derivatives. The derivative covers the period of exposure from the point the cash flows of the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">transactions forecasted up to the point of settlement of the resulting receivable or payable that is denominated in</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">the foreign currency. Derivative contracts aiming to mitigate currency exchange risks are dynamically and</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">qualitatively managed based on business needs and specific contexts and circumstances. These are not framed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">within fixed or quantitative policies regarding the percentage of coverage to be achieved. To avoid excessive</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">coverage, the budget for future transactions is typically hedged at a level between 50% and 90% throughout the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.45pt\">whole year. In the hedge relationships the main sources of ineffectiveness are:</span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:215.35pt\">interest rate differentials between currencies and</span><span class=\"f charStyle-2293a859 ps23226\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.04pt\">discrepancies between invoices issued and hedging contracts (i.e., changes in the timing of the hedge</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.99pt\">transaction).</span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Regarding derivative contracts intended to hedge interest rate exposures, they are namely connected with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">financing and there is no established quantitative policy concerning the optimal level of exposure to fixed or<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">variable rates: the Group manages its interest rate risk by having a balanced portfolio of fixed and variable rate</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">loans and borrowings. The preferred exposure to fixed or variable rates is dynamically managed centrally within</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">the Group, considering current and future market conditions, the Group's level of indebtedness, business</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">performance and in the context of the Group's expansion initiatives. The Group determines the existence of an</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">economic relationship between the hedging instrument and hedged item based on the reference interest rates,</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">tenors, repricing dates and maturities and the notional or par amount.</span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:2.77pt\"> </span><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:92.79pt\">Financial guarantees</span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">The Group recognises financial guarantees as a financial liability if the likelihood of these guarantees being</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">called is assessed not to be remote and the Group is expected to be liable for any legal obligation in respect of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">these financial guarantee agreements. Financial guarantee contract liabilities are measured initially at their fair</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">value, with subsequent remeasurement impacting profit or loss. They are represented as a long- or short-term</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">financial liability, depending on the time of the expected execution of the guarantees. If the likelihood of these</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">guarantees being called is assessed to be remote, they are treated as commitments with disclosure</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">requirements only. This occurs when they are represented as other forms of security in favour of third parties,</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:361.64pt\">such as customs guarantees for excise duties and guarantees to grant credit lines</span><span class=\"f charStyle-2293a859 ps20057\" style=\"width:2.77pt\">.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-532": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:238.88pt\">Financial liabilities, including trade and other payables</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Financial liabilities include financial payables, bonds and loans due to banks, which, in turn, include the negative</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">fair value of financial derivatives, trade payables and other payables including contingent consideration and</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:313.32pt\">variable payments deriving from business combinations or asset deals.</span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Financial liabilities are classified and measured at amortised cost, except for financial liabilities that are initially<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">measured at fair value, i.e., derivative instruments, financial liabilities relating to earn-out linked to business</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.29pt\">combinations and financial liabilities for put options over non-controlling interests.</span><span class=\"f charStyle-2293a859 ps23219\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Trade and other payables are initially recognised at fair value including transaction costs and subsequently</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:112.19pt\">carried at amortised cost.</span><span class=\"f charStyle-2293a859 ps3146\" style=\"width:41.55pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  </span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Derecognition of financial assets and liabilities</span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">When an existing financial liability is replaced by another from the same lender on substantially different terms,</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">derecognition of the original liability and the recognition of a new liability. The difference in the respective</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:283.26pt\">carrying amounts is recognised in the statement of profit or loss.</span><span class=\"f charStyle-2293a859 ps23221\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">For detailed information on the accounting policy for put and call options over joint-ventures agreements, please</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:423.16pt\">refer to note 3 xii-\u2018Share of profit (loss) of joint-ventures and Profit (loss) from other investments\u2019</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-531": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps23192 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:240.55pt\">Financial assets, including trade and other receivables<span class=\"f ps21\"> </span></span></div><div class=\"ps23197 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">Cash and cash equivalents include cash, bank deposits and highly liquid securities that are readily convertible</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23198 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">into cash and are subject to an insignificant risk of a change in value. Deposits and securities included in this</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23199 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">category mature in less than three months based on the conditions existing on the date of the acquisition of the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23200 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">asset. Current securities include short-term securities or marketable securities that represent a temporary</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:446.61pt\">investment of cash and do not meet the requirements for classification as cash and cash equivalents.</span><div class=\"ps23519 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Cash and Cash Equivalents<span id=\"i08eea0db70054118bae92bda3ebe32a6\"></span></span></div><div class=\"ps23195 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps23197 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:314.23pt\">The breakdown of the Group\u2019s cash and cash equivalents is as follows.</span></div><div class=\"ps23521 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12075 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps22060\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23520 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps2413\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12076 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps6074\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21545\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1779\"><div><div class=\"ps476 ss1778\"><span class=\"f charStyle-183bdf94 ps132\">Bank current accounts and cash<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12082 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps12886\">585.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21548\">647.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1779\"><div><div class=\"ps476 ss1778\"><span class=\"f charStyle-183bdf94 ps132\">Term deposit maturing within 3 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12087 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-183bdf94 ps21533\">118.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21565\">18.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1779\"><div><div class=\"ps476 ss1778\"><span class=\"f charStyle-ba8ac8da ps132\">Cash and cash equivalents<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12091 ss339\"><div><div class=\"ps476 ss338\"><span class=\"f charStyle-ba8ac8da ps12886\">703.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21548\">666.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23528 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:208.81pt\">Cash and cash equivalents increased from \u20ac</span><span class=\"f charStyle-58d8bcbe ps23523\" style=\"width:25.01pt\">666.3</span><span class=\"f charStyle-58d8bcbe ps23524\" style=\"width:56.32pt\"> million to \u20ac</span><span class=\"f charStyle-58d8bcbe ps23525\" style=\"width:25.01pt\">703.3</span><span class=\"f charStyle-58d8bcbe ps23526\" style=\"width:35.8pt\"> million.</span><span class=\"f charStyle-58d8bcbe ps23527\" style=\"width:145.28pt\"> The change in the period was</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps17162 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">mainly driven by cash inflow from the disposal of the Cinzano vermouth business and the bottling facility in</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.22pt\"> </span></div><div class=\"ps17326 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">Australia for a total of \u20ac101.1 million (refer to \u2018Significant Events of the Period\u2019) and the strong cash generation,</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps17327 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">boosted by the ongoing improvement in credit collection conditions throughout the year, partially offset by capital</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23529 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">expenditure initiatives (\u20ac269.6 million), dividend payment (\u20ac78.0 million), purchase of own shares (\u20ac33.6 million)</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23531 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:196.15pt\">as well as income taxes paid (\u20ac42.2 million).</span><span class=\"f charStyle-58d8bcbe ps23530\" style=\"width:300.07pt\"> The ongoing implementation of the restructuring plan announced in</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23532 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">late 2024 continued to affect movements in available liquidity, resulting in a cash outflow of \u20ac79.9 million for</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps23533 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">employee termination benefits. This amount also included personnel\u2011related payments to the Chief Financial</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps23534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">and Operating Officer, Paolo Marchesini, the majority of which arose in 2025 and had therefore not been</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps23535 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">accrued in 2024, following the consensual termination of his Chief Financial and Operating Officer duties and in</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps23536 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">line with the remuneration policy and existing agreements. Of the total cash outflow, \u20ac54.4 million related</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23537 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:311.63pt\">specifically to the execution of the above mentioned restructuring plan.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">Cash position is supported by significant credit lines available to the Group. Of these, \u20ac400.0 million are<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:174.12pt\">committed until 2029 (undrawn as of </span><span class=\"f charStyle-58d8bcbe ps23538\" style=\"width:88.44pt\">31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23539\" style=\"width:233.61pt\">) and \u20ac451.5 million are uncommitted (with \u20ac109.7<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:98.87pt\">million drawn down at <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23540\" style=\"width:85.02pt\">31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23541\" style=\"width:6.1pt\">).</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">For additional details, reference is made to cash flow information and the net financial debt (note 6</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:311.01pt\">viii-\u2019Reconciliation with Net Financial Debt and Cash Flow Statement\u2019).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-530": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:205.01pt\">Financial derivatives and hedging transactions</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Financial derivatives embedded in contracts in which the primary element is a financial asset that falls within the</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">scope of IFRS 9 are not treated separately. The hybrid instrument is instead examined as a whole for</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.85pt\">classification in the statement of financial position and subsequent measurement.</span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Financial derivatives are used exclusively for hedging purposes to reduce exchange and interest rate risk. They</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">are only accounted for by applying the methods established for hedge accounting (fair value hedge or cash flow</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">hedge) if, at the start of the hedging period, the hedging relationship has been designated. It is assumed that the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">hedge is highly effective: this effectiveness must be reliably measured during the accounting periods for which it</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:286.62pt\">is designated. All financial derivatives are measured at fair value.</span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Where financial instruments meet the requirements to be reported using hedge accounting procedures, the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.08pt\">accounting treatment related to fair value hedge or cash flow hedge is applied.<span class=\"f ps21\"> </span></span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">If hedge accounting cannot be applied, any gains or losses resulting from measuring the financial derivative at</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:268.24pt\">its present value are posted to the statement of profit or loss.</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The Group is exposed to certain risks related to its ongoing business operations. The primary risks managed</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:329.93pt\">using derivative instruments are foreign currency risk and interest rate risk.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Derivatives are designated as hedging instruments in the form of i) foreign exchange forward and option</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">contracts, elected as cash flow hedges to hedge highly probable forecast sales and purchases in different</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">currencies compared to \u20ac and, ii) interest-rate swap contracts to mitigate the risk associated with variable</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:378.85pt\">interest rate changes on loan and bond agreements not issued at a fixed interest rate.</span><span class=\"f charStyle-2293a859 ps23223\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The Group also uses derivatives not designated as hedging instruments to reflect the change in fair value of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">foreign exchange rates of forward and option contracts that are not elected in hedge relationships, but are,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:443.86pt\">nevertheless, intended to reduce the level of foreign currency risk for expected sales and purchases.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">For Campari Group, net exposure to foreign exchange effects is limited to highly probable intra-group</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">transactions among Group companies relating to certain sales and purchases, regulated in currencies other</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:19.45pt\">than</span><span class=\"f charStyle-58d8bcbe ps23224\" style=\"width:4.3pt\"> </span><span class=\"f charStyle-2293a859 ps23225\" style=\"width:472.48pt\">the functional currencies of the companies. Although these transactions represent only a portion of the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">overall business, the Group determines the net exposure to the primary currencies (US$, GBP, AUD) based on</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">its predicted intercompany sales and purchases up to 18 months. Moreover, the Group determines the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">existence of an economic relationship between the hedging instrument and hedged item based on the currency,</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">amount and timing of their respective cash flows. The Group\u2019s reference is the budget exposure split by</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">currencies and, as effectively as possible, any under/over exposure which may arise through plain vanilla</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">currency derivatives. The derivative covers the period of exposure from the point the cash flows of the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">transactions forecasted up to the point of settlement of the resulting receivable or payable that is denominated in</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">the foreign currency. Derivative contracts aiming to mitigate currency exchange risks are dynamically and</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">qualitatively managed based on business needs and specific contexts and circumstances. These are not framed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">within fixed or quantitative policies regarding the percentage of coverage to be achieved. To avoid excessive</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">coverage, the budget for future transactions is typically hedged at a level between 50% and 90% throughout the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.45pt\">whole year. In the hedge relationships the main sources of ineffectiveness are:</span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:215.35pt\">interest rate differentials between currencies and</span><span class=\"f charStyle-2293a859 ps23226\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.04pt\">discrepancies between invoices issued and hedging contracts (i.e., changes in the timing of the hedge</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.99pt\">transaction).</span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Regarding derivative contracts intended to hedge interest rate exposures, they are namely connected with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">financing and there is no established quantitative policy concerning the optimal level of exposure to fixed or<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">variable rates: the Group manages its interest rate risk by having a balanced portfolio of fixed and variable rate</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">loans and borrowings. The preferred exposure to fixed or variable rates is dynamically managed centrally within</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">the Group, considering current and future market conditions, the Group's level of indebtedness, business</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">performance and in the context of the Group's expansion initiatives. The Group determines the existence of an</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">economic relationship between the hedging instrument and hedged item based on the reference interest rates,</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">tenors, repricing dates and maturities and the notional or par amount.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-529": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:92.79pt\">Financial guarantees</span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">The Group recognises financial guarantees as a financial liability if the likelihood of these guarantees being</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">called is assessed not to be remote and the Group is expected to be liable for any legal obligation in respect of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">these financial guarantee agreements. Financial guarantee contract liabilities are measured initially at their fair</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">value, with subsequent remeasurement impacting profit or loss. They are represented as a long- or short-term</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">financial liability, depending on the time of the expected execution of the guarantees. If the likelihood of these</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">guarantees being called is assessed to be remote, they are treated as commitments with disclosure</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">requirements only. This occurs when they are represented as other forms of security in favour of third parties,</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:361.64pt\">such as customs guarantees for excise duties and guarantees to grant credit lines</span><span class=\"f charStyle-2293a859 ps20057\" style=\"width:2.77pt\">.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-528": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:238.88pt\">Financial liabilities, including trade and other payables</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Financial liabilities include financial payables, bonds and loans due to banks, which, in turn, include the negative</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">fair value of financial derivatives, trade payables and other payables including contingent consideration and</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:313.32pt\">variable payments deriving from business combinations or asset deals.</span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Financial liabilities are classified and measured at amortised cost, except for financial liabilities that are initially<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">measured at fair value, i.e., derivative instruments, financial liabilities relating to earn-out linked to business</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.29pt\">combinations and financial liabilities for put options over non-controlling interests.</span><span class=\"f charStyle-2293a859 ps23219\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Trade and other payables are initially recognised at fair value including transaction costs and subsequently</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:112.19pt\">carried at amortised cost.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-527": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps23192 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:240.55pt\">Financial assets, including trade and other receivables<span class=\"f ps21\"> </span></span></div><div class=\"ps14661 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets include investments, short-term securities and financial receivables, which, in turn, include the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23193 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">positive fair value of financial derivatives, trade and other receivables and cash and cash equivalents. Trade</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23194 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">receivables arise from contracts with customers and are recognised when performance obligations are satisfied,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23195 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">and the consideration due is unconditional as only the passage of time is required before the payment is</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps23196 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:40.56pt\">received.</span></div><div class=\"ps23197 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">Cash and cash equivalents include cash, bank deposits and highly liquid securities that are readily convertible</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23198 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">into cash and are subject to an insignificant risk of a change in value. Deposits and securities included in this</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23199 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">category mature in less than three months based on the conditions existing on the date of the acquisition of the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23200 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">asset. Current securities include short-term securities or marketable securities that represent a temporary</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23202 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:446.61pt\">investment of cash and do not meet the requirements for classification as cash and cash equivalents.</span><span class=\"f charStyle-2293a859 ps23201\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps23204 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Financial assets are classified and measured based on a business model developed by the Group. The</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23205 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">business model has been defined at a level that reflects the way in which groups of financial assets are</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps23206 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">managed to achieve a particular business objective. The model\u2019s measurement process requires an<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23207 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">assessment based on both quantitative and qualitative factors relating to, for example, the way in which the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps23208 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">performance of the financial assets in question is communicated to management with strategic responsibilities<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23209 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:364.96pt\">and the way in which the risks connected with these financial assets are managed.</span></div><div class=\"ps22484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:435.43pt\">The Group measures a financial asset at amortised cost if it meets both of the following conditions:</span></div><div class=\"ps23210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.04pt\">it is held under a business model whose objective is to hold assets aiming to collect contractual cash flows;</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23211 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:19.45pt\">and,</span></div><div class=\"ps23212 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.94pt\">its contractual terms and conditions are such that the cash flows generated by the asset are attributable</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:281.06pt\">exclusively to payments of the principal and the related interest.</span></div><div class=\"ps23214 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">Financial assets measured at amortised cost are measured at fair value at the time of initial recognition;</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps23215 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">subsequent measurements reflect the repayments made, the effects of applying the effective interest method</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">and any write-downs. Any gain or loss made on derecognition is recognised in profit or loss, together with</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:156.69pt\">foreign exchange gains and losses.</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets also include investments in companies that are not held for trading. These assets are strategic</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">investments, and the Group has decided to recognise changes in the related fair values through profit or loss</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:44.4pt\">(\u2018FVTPL\u2019).</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets represented by debt securities are classified and valued in the statement of financial position</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">based on the business model adopted to manage these financial assets and the financial flows associated with</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">each financial asset. They are measured at fair value through other comprehensive income (\u2018FVOCI\u2019) if all the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:198.3pt\">conditions required by IFRS 9 are respected.</span><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:135.52pt\">Impairment of a financial asset</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets are tested for recoverability by applying an impairment model based on the expected credit loss</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:32.76pt\">(\u2018ECL\u2019).</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group applies the simplified method for trade receivables, which considers the probability of default over</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">the financial instrument\u2019s life (lifetime expected credit losses). In making impairment assessments, the Group</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">considers its historical credit loss experience, adjusted for forward-looking factors specific to the nature of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Group\u2019s receivables and economic environment. If any such evidence exists, an impairment loss is recognised</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">under selling, general and administrative expenses. More specifically, non-performing receivables are analysed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">based on the debtor\u2019s creditworthiness and ability to pay the sums due, as well as the degree of effective</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.92pt\">coverage provided by any collateral and personal guarantees in existence.</span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">With regard to trade receivables, two approaches are applied to estimate impairment, based on the specific</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">characteristics of the individual countries in which the Group operates and its constant growth at a global level:</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">one is a matrix-based model and the other applies the probability of default (\u2018PD\u2019) obtained from external</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">sources specialising in the country in which each subsidiary is located. The provision matrix, including the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:331.6pt\">overall actual result of the year, is reported in the relevant disclosure notes.</span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">A financial asset is impaired when internal or external information indicates that it is unlikely that the Group will</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:154.97pt\">receive the full contractual amount.</span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Lastly, with regard to other financial assets measured at amortised cost, and, more specifically, cash and cash</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">equivalents, the impact in terms of expected loss is not considered material and for this reason no adjustment is</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:111.66pt\">made to the book values.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-526": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:205.01pt\">Financial derivatives and hedging transactions</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Financial derivatives embedded in contracts in which the primary element is a financial asset that falls within the</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">scope of IFRS 9 are not treated separately. The hybrid instrument is instead examined as a whole for</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.85pt\">classification in the statement of financial position and subsequent measurement.</span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Financial derivatives are used exclusively for hedging purposes to reduce exchange and interest rate risk. They</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">are only accounted for by applying the methods established for hedge accounting (fair value hedge or cash flow</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">hedge) if, at the start of the hedging period, the hedging relationship has been designated. It is assumed that the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">hedge is highly effective: this effectiveness must be reliably measured during the accounting periods for which it</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:286.62pt\">is designated. All financial derivatives are measured at fair value.</span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Where financial instruments meet the requirements to be reported using hedge accounting procedures, the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.08pt\">accounting treatment related to fair value hedge or cash flow hedge is applied.<span class=\"f ps21\"> </span></span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">If hedge accounting cannot be applied, any gains or losses resulting from measuring the financial derivative at</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:268.24pt\">its present value are posted to the statement of profit or loss.</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">The Group is exposed to certain risks related to its ongoing business operations. The primary risks managed</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:329.93pt\">using derivative instruments are foreign currency risk and interest rate risk.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Derivatives are designated as hedging instruments in the form of i) foreign exchange forward and option</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">contracts, elected as cash flow hedges to hedge highly probable forecast sales and purchases in different</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">currencies compared to \u20ac and, ii) interest-rate swap contracts to mitigate the risk associated with variable</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:378.85pt\">interest rate changes on loan and bond agreements not issued at a fixed interest rate.</span><span class=\"f charStyle-2293a859 ps23223\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The Group also uses derivatives not designated as hedging instruments to reflect the change in fair value of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">foreign exchange rates of forward and option contracts that are not elected in hedge relationships, but are,</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:443.86pt\">nevertheless, intended to reduce the level of foreign currency risk for expected sales and purchases.</span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">For Campari Group, net exposure to foreign exchange effects is limited to highly probable intra-group</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">transactions among Group companies relating to certain sales and purchases, regulated in currencies other</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:19.45pt\">than</span><span class=\"f charStyle-58d8bcbe ps23224\" style=\"width:4.3pt\"> </span><span class=\"f charStyle-2293a859 ps23225\" style=\"width:472.48pt\">the functional currencies of the companies. Although these transactions represent only a portion of the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">overall business, the Group determines the net exposure to the primary currencies (US$, GBP, AUD) based on</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">its predicted intercompany sales and purchases up to 18 months. Moreover, the Group determines the</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">existence of an economic relationship between the hedging instrument and hedged item based on the currency,</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">amount and timing of their respective cash flows. The Group\u2019s reference is the budget exposure split by</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1416 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">currencies and, as effectively as possible, any under/over exposure which may arise through plain vanilla</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1418 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">currency derivatives. The derivative covers the period of exposure from the point the cash flows of the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">transactions forecasted up to the point of settlement of the resulting receivable or payable that is denominated in</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">the foreign currency. Derivative contracts aiming to mitigate currency exchange risks are dynamically and</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">qualitatively managed based on business needs and specific contexts and circumstances. These are not framed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">within fixed or quantitative policies regarding the percentage of coverage to be achieved. To avoid excessive</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">coverage, the budget for future transactions is typically hedged at a level between 50% and 90% throughout the</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:346.45pt\">whole year. In the hedge relationships the main sources of ineffectiveness are:</span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:215.35pt\">interest rate differentials between currencies and</span><span class=\"f charStyle-2293a859 ps23226\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.04pt\">discrepancies between invoices issued and hedging contracts (i.e., changes in the timing of the hedge</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7259 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:54.99pt\">transaction).</span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Regarding derivative contracts intended to hedge interest rate exposures, they are namely connected with</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">financing and there is no established quantitative policy concerning the optimal level of exposure to fixed or<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">variable rates: the Group manages its interest rate risk by having a balanced portfolio of fixed and variable rate</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">loans and borrowings. The preferred exposure to fixed or variable rates is dynamically managed centrally within</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">the Group, considering current and future market conditions, the Group's level of indebtedness, business</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">performance and in the context of the Group's expansion initiatives. The Group determines the existence of an</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">economic relationship between the hedging instrument and hedged item based on the reference interest rates,</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:306.07pt\">tenors, repricing dates and maturities and the notional or par amount.</span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:2.77pt\"> </span><div class=\"ps1752 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:6.1pt\">T</span><span class=\"f charStyle-58d8bcbe ps17898\" style=\"width:489.99pt\">he tables below show a breakdown of the foreign exchange contracts on highly probable sales and purchases</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1753 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">and interest-rate swaps on loans. It also includes the effect of hedging derivatives, not in hedge accounting with<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1754 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">fair value variations recognised through the statement of profit or loss. Call and/or put agreements over joint-</span></div><div class=\"ps1755 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:428.85pt\">ventures elected as derivative instruments with negligible fair value variation are disclosed below.</span><span class=\"f charStyle-58d8bcbe ps23430\" style=\"width:2.77pt\"> </span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:178.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:87pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:83.25pt\"></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1766\"><div><div class=\"ps4101 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">foreign exchange forward contracts and options <span class=\"f ps21\"> </span></span></div><div class=\"ps4103 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">(highly probable forecast sales and purchases)<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16006 ss1768\"><div><div class=\"ps485 ss1767\"><span class=\"f charStyle-183bdf94 ps23431\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16007 ss1770\"><div><div class=\"ps485 ss1769\"><span class=\"f charStyle-183bdf94 ps23432\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20441 ss1771\"><div><div class=\"ps485 ss38\"><span class=\"f charStyle-183bdf94 ps23433\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1353\"><div><div class=\"ps979 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23434 ss395\"><div><div class=\"ps2776 ss355\"><span class=\"f charStyle-183bdf94 ps11972\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss355\"><span class=\"f charStyle-183bdf94 ps8083\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4039 ss378\"><div><div class=\"ps979 ss110\"><span class=\"f charStyle-183bdf94 ps23435\">average forward rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4117 ss395\"><div><div class=\"ps2776 ss355\"><span class=\"f charStyle-183bdf94 ps11972\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss355\"><span class=\"f charStyle-183bdf94 ps8083\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23437 ss998\"><div><div class=\"ps979 ss288\"><span class=\"f charStyle-183bdf94 ps23436\">average forward rate<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23438 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18668\">87.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23440 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">1.15<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23441 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18660\">187.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23443 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">1.08<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Russian Ruble<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23444 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18668\">10.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23446 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23445\">92.88<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23448 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23447\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23449 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps20534\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Australian Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23451 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">5.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23452 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">1.78<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23453 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18668\">38.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23454 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">1.67<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Swiss Franc<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23455 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23456 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">0.93<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23457 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">2.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps5090 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">0.93<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Singapore Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23458 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23447\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23460 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23459\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23461 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23462 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">1.43<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Sterling Pound<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23463 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23464 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">0.89<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23465 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23466 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">0.84<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Canadian Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23468 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23467\">(2.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23469 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">1.63<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23470 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23447\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23471 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps20534\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23472 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-ba8ac8da ps18660\">105.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23473 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-ba8ac8da ps18660\">239.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps23500 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:154.5pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:63.75pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td><td style=\"padding:0;width:57pt\"></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1772\"><div><div class=\"ps2415 ss901\"><span class=\"f charStyle-183bdf94 ps132\">nature of hedged items and related derivatives <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss901\"><span class=\"f charStyle-183bdf94 ps132\">forward</span></div></div></div></td><td colspan=\"6\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23475 ss1774\"><div><div class=\"ps476 ss1773\"><span class=\"f charStyle-183bdf94 ps606\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4096 ss450\"><div><div class=\"ps476 ss449\"><span class=\"f charStyle-183bdf94 ps23476\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23477 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps15233\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1775\"><div><div class=\"ps2579 ss901\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4109 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">notional <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18576\">amount </span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23479\">hedge items</span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23482 ss1520\"><div><div class=\"ps2578 ss172\"><span class=\"f charStyle-183bdf94 ps23480\">carrying amounts <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss172\"><span class=\"f charStyle-183bdf94 ps23481\">hedging </span></div><div class=\"ps2580 ss172\"><span class=\"f charStyle-183bdf94 ps14872\">instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14896 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23483\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18065\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">(losses)</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23485 ss1405\"><div><div class=\"ps5026 ss304\"><span class=\"f charStyle-183bdf94 ps23484\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss304\"><span class=\"f charStyle-183bdf94 ps5477\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23488 ss292\"><div><div class=\"ps2578 ss197\"><span class=\"f charStyle-183bdf94 ps23486\">carrying amounts <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps4036\">hedging </span></div><div class=\"ps2580 ss197\"><span class=\"f charStyle-183bdf94 ps23487\">instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14898 ss291\"><div><div class=\"ps2578 ss290\"><span class=\"f charStyle-183bdf94 ps23489\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss290\"><span class=\"f charStyle-183bdf94 ps4147\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss290\"><span class=\"f charStyle-183bdf94 ps23490\">(losses)</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5727 ss1775\"><div><div class=\"ps2578 ss901\"><span class=\"f charStyle-183bdf94 ps132\">foreign exchange forward contracts and options<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss901\"><span class=\"f charStyle-183bdf94 ps132\">(highly probable forecast sales and purchases) <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss901\"><span class=\"f charStyle-183bdf94 ps132\">fair value and cash flow hedge</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23491 ss1461\"><div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18458\">105.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23493 ss1520\"><div><div class=\"ps2579 ss172\"><span class=\"f charStyle-183bdf94 ps23492\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20575 ss1461\"><div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps23494\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23496 ss1405\"><div><div class=\"ps2579 ss304\"><span class=\"f charStyle-183bdf94 ps23495\">239.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23497 ss292\"><div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps14465\">(6.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23499 ss291\"><div><div class=\"ps2579 ss290\"><span class=\"f charStyle-183bdf94 ps23498\">(5.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23508 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:154.5pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:63.75pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td><td style=\"padding:0;width:57pt\"></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1772\"><div><div class=\"ps23502 ss901\"><span class=\"f charStyle-183bdf94 ps132\">nature hedged items <span class=\"f ps21\"> </span></span></div><div class=\"ps23503 ss901\"><span class=\"f charStyle-183bdf94 ps132\">and related derivatives interest rate swaps<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23475 ss1774\"><div><div class=\"ps476 ss1773\"><span class=\"f charStyle-183bdf94 ps606\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4096 ss450\"><div><div class=\"ps476 ss449\"><span class=\"f charStyle-183bdf94 ps23476\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23477 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps15233\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1775\"><div><div class=\"ps2579 ss901\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4109 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">notional <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18576\">amount </span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23479\">hedge items</span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23482 ss1520\"><div><div class=\"ps2578 ss172\"><span class=\"f charStyle-40131897 ps23480\">carrying amounts </span></div><div class=\"ps2579 ss172\"><span class=\"f charStyle-40131897 ps23481\">hedging <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss172\"><span class=\"f charStyle-40131897 ps23504\">instruments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-85922b7e ps23505\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14896 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23483\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18065\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">(losses)</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23485 ss1405\"><div><div class=\"ps5026 ss304\"><span class=\"f charStyle-183bdf94 ps23484\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss304\"><span class=\"f charStyle-183bdf94 ps5477\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23488 ss292\"><div><div class=\"ps2578 ss197\"><span class=\"f charStyle-183bdf94 ps23486\">carrying amounts <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps4036\">hedging </span></div><div class=\"ps2580 ss197\"><span class=\"f charStyle-183bdf94 ps23487\">instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14898 ss291\"><div><div class=\"ps2578 ss290\"><span class=\"f charStyle-183bdf94 ps23489\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss290\"><span class=\"f charStyle-183bdf94 ps4147\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss290\"><span class=\"f charStyle-183bdf94 ps23490\">(losses)</span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5727 ss1776\"><div><div class=\"ps2776 ss901\"><span class=\"f charStyle-183bdf94 ps132\">interest rate swap contracts on loans financial <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss901\"><span class=\"f charStyle-183bdf94 ps132\">statements impact</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23491 ss1561\"><div><div class=\"ps979 ss358\"><span class=\"f charStyle-183bdf94 ps18458\">848.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23493 ss420\"><div><div class=\"ps979 ss172\"><span class=\"f charStyle-183bdf94 ps23506\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20575 ss1561\"><div><div class=\"ps979 ss358\"><span class=\"f charStyle-183bdf94 ps23494\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23496 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps23495\">963.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23497 ss233\"><div><div class=\"ps979 ss197\"><span class=\"f charStyle-183bdf94 ps23507\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23499 ss1777\"><div><div class=\"ps979 ss290\"><span class=\"f charStyle-183bdf94 ps1037\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23509 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:363.7pt\">The carrying value is included in the line \u2018Loans due to banks\u2019 in the financial instruments\u2019 recap table reported above.<span class=\"f ps21\"> </span></span></div><div class=\"ps23186 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">In connection with the establishment of the joint-venture in Spiritus Co Ltd., commitments to increase the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23510 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">ownership in the company existed in the form of put and/or call options elected as derivative financial</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23511 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">instruments measured at fair value with impact in the Campari Group statement of profit or loss. The fair value</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps23512 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">of these options, whose measurement was contingent upon the performance of the company, was considered</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps23515 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:434.19pt\">negligible and therefore was never recognised in the Campari Group\u2019s financial statements. In </span><span class=\"f charStyle-58d8bcbe ps23513\" style=\"width:44.07pt\">July 2025</span><span class=\"f charStyle-58d8bcbe ps23514\" style=\"width:17.94pt\"> the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23516 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">Group resolved to exercise the put options. Consequently, the derivatives position was reclassified into an in-</span></div><div class=\"ps19365 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">flow transaction, enabling the Group to exit the investment (refer to note 3 xii 'Share of Profit (Loss) of Joint-</span></div><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:224.6pt\">Ventures and Profit (loss) from other investments').</span><div class=\"ps26151 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Fair Value Information on Assets and Liabilities<span id=\"if2edeecf2a55458e960be05d8323a9a7\"></span></span></div><div class=\"ps21573 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:90.55pt\">Financial derivatives</span></div><div class=\"ps26307 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:280.69pt\">A summary of financial derivatives implemented by the Group </span><span class=\"f charStyle-58d8bcbe ps26305\" style=\"width:98.22pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26306\" style=\"width:117.26pt\">, broken down by hedging<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26308 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:110.35pt\">strategy, is shown below.<span class=\"f ps21\"> </span></span></div><div class=\"ps26310 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:169.99pt\">Derivatives used for fair value hedging</span><span class=\"f charStyle-58d8bcbe ps26309\" style=\"width:2.77pt\"> </span></div><div class=\"ps26312 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:103.79pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26311\" style=\"width:392.42pt\">, certain Group subsidiaries have contracts for hedging payables and receivables in</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps26313 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">foreign currency in place that meet the requirements to be defined as fair value hedging instruments. These</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps26314 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">contracts were negotiated to match maturities with incoming and outgoing cash flows resulting from sales and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps26315 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:41.13pt\">purchase</span><span class=\"f charStyle-bdf8be45 ps2595\" style=\"width:454.98pt\"><span style=\"background-color:inherit\">s in individual currencies. At the reporting date the valuation of these contracts gave rise to the</span></span><span class=\"f charStyle-bdf8be45 ps63\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26320 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:69.02pt\"><span style=\"background-color:inherit\">reporting of ass</span></span><span class=\"f charStyle-58d8bcbe ps26316\" style=\"width:24.5pt\">ets of</span><span class=\"f charStyle-58d8bcbe ps26317\" style=\"width:178.22pt\"> \u20ac0.6 million and liabilities of \u20ac0.1 million</span><span class=\"f charStyle-58d8bcbe ps26318\" style=\"width:6.17pt\"> (</span><span class=\"f charStyle-bdf8be45 ps26319\" style=\"width:218.28pt\"><span style=\"background-color:inherit\">\u20ac0.9 million of assets and \u20ac4.2 million of liabilities</span></span><span class=\"f charStyle-bdf8be45 ps465\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26322 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:38.89pt\"><span style=\"background-color:inherit\">in 2024).</span></span><span class=\"f charStyle-bdf8be45 ps26321\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26323 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Gains and losses on the hedged and hedging instruments used in all the Group\u2019s fair value hedges,</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps26325 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:216.67pt\">corresponding to the contracts mentioned above,</span><span class=\"f charStyle-bdf8be45 ps26324\" style=\"width:105.55pt\"><span style=\"background-color:inherit\"> are summarised below.</span></span></div><div class=\"ps26338 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:252.75pt\"></td><td style=\"padding:0;width:121.5pt\"></td><td style=\"padding:0;width:121.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8246 ss1040\"><div><div class=\"ps476 ss1039\"><span class=\"f charStyle-183bdf94 ps26327\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26328 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps25460\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9583 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps25460\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18341 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps14653\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9589 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps14653\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Gains on hedging instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26330 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9592 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Losses on hedging instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26332 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26331\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9595 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26333\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-ba8ac8da ps132\">Total gains (losses) on hedging instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26334 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26329\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9599 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26329\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Gains on hedged items<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26335 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9603 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">3.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Losses on hedged items<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26336 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26333\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9607 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26333\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-ba8ac8da ps132\">Total gains (losses) on hedged items<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26337 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26333\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9611 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26329\">2.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26340 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:171.1pt\">Derivatives used for cash flow hedging</span></div><div class=\"ps26341 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:279.93pt\">The Group uses the following contracts to hedge its cash flows:</span></div><div class=\"ps26342 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.03pt\">interest-rate swaps hedging the risk of interest rate fluctuations on future transactions relating to the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps26344 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:124.98pt\">stipulation of financial loans;</span><span class=\"f charStyle-58d8bcbe ps26343\" style=\"width:2.77pt\"> </span></div><div class=\"ps26345 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.93pt\">hedging of future sales and purchases in currencies other than the \u20ac and interest rates on future</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps26346 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:56.66pt\">transactions.</span></div><div class=\"ps26347 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:496.22pt\"><span style=\"background-color:inherit\">The fair value variation of the hedging instruments during the year generated a negative impact in other</span></span><span class=\"f charStyle-bdf8be45 ps74\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:127.81pt\"><span style=\"background-color:inherit\">comprehensive income of \u20ac</span></span><span class=\"f charStyle-bdf8be45 ps26348\" style=\"width:13.89pt\"><span style=\"background-color:inherit\">0.4</span></span><span class=\"f charStyle-bdf8be45 ps26349\" style=\"width:64.46pt\"><span style=\"background-color:inherit\"> million and \u20ac</span></span><span class=\"f charStyle-bdf8be45 ps26350\" style=\"width:13.89pt\"><span style=\"background-color:inherit\">1.8</span><span class=\"f ps21\"> </span></span><span class=\"f charStyle-bdf8be45 ps26351\" style=\"width:276.11pt\"><span style=\"background-color:inherit\"> million in profit or loss related to the reversal of cash flow</span></span><span class=\"f charStyle-bdf8be45 ps70\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26356 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:378.41pt\"><span style=\"background-color:inherit\">reserve associated with the pre-hedge derivative (compared with negative impact of \u20ac</span></span><span class=\"f charStyle-bdf8be45 ps6166\" style=\"width:13.89pt\"><span style=\"background-color:inherit\">2.9</span></span><span class=\"f charStyle-bdf8be45 ps26353\" style=\"width:58.91pt\"><span style=\"background-color:inherit\"> million and \u20ac</span></span><span class=\"f charStyle-bdf8be45 ps26354\" style=\"width:13.89pt\"><span style=\"background-color:inherit\">0.8</span></span><span class=\"f charStyle-bdf8be45 ps26355\" style=\"width:31.11pt\"><span style=\"background-color:inherit\"> million</span><span class=\"f ps21\"> </span></span><span class=\"f charStyle-bdf8be45 ps94\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps21\"> </span></span></div><div class=\"ps26359 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:66.1pt\">respectively in </span><span class=\"f charStyle-58d8bcbe ps19241\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps26357\" style=\"width:6.1pt\">).</span><span class=\"f charStyle-58d8bcbe ps26358\" style=\"width:2.77pt\"> </span></div><div class=\"ps26361 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:419.95pt\">At the reporting date, the valuation of these contracts gave rise to the reporting of assets of</span><span class=\"f charStyle-58d8bcbe ps26360\" style=\"width:65.1pt\"> \u20ac1.0 million a</span><span class=\"f charStyle-58d8bcbe ps22941\" style=\"width:11.12pt\">nd</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps26365 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:339.33pt\">\u20ac1.5 million of liabilities (assets of \u20ac2.5 million and \u20ac2.1 million of liabilities in </span><span class=\"f charStyle-58d8bcbe ps26362\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps26363\" style=\"width:6.1pt\">).</span><span class=\"f charStyle-58d8bcbe ps26364\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:487.85pt\">The following table shows when the aforementioned hedged cash flows are expected to be received (paid), </span><span class=\"f charStyle-58d8bcbe ps26367\" style=\"width:8.33pt\">at</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:89.8pt\">31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26368\" style=\"width:406.42pt\">. These cash flows concern both interest and currency derivatives and have not been</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:54.31pt\">discounted. </span><span class=\"f charStyle-bdf8be45 ps26369\" style=\"width:441.78pt\"><span style=\"background-color:inherit\">Since the Group does not distinguish the outflows for positive and negative fair values of derivative</span></span><span class=\"f charStyle-bdf8be45 ps372\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:236.07pt\"><span style=\"background-color:inherit\">contracts, the below cash outflows are presented net.</span></span></div><div class=\"ps16923 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1956 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:198.75pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8757 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26371\">within one year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26373 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26372\">1-5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26374\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26375 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6310 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps15089 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss556\"><div><div class=\"ps485 ss555\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:55.18pt\">Cash outflows (A)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps26377 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6319 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(1.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23574 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps906 ss556\"><div><div class=\"ps485 ss555\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:50.9pt\">Cash inflows (B)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26378 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6331 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23575 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">7.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-ba8ac8da ps132\">Net cash flows (A+B)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26379 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps26376\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6346 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">6.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23576 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps21570 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:198pt\"></td><td style=\"padding:0;width:99.75pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1343\"><div><div class=\"ps485 ss504\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8654 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps26380\">within one year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26373 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26372\">1-5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26374\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps15942 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6310 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps15089 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:1pt solid #000000;padding:0\"><div class=\"ps1105 ss1343\"><div><div class=\"ps485 ss504\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:55.18pt\">Cash outflows (A)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4509 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6319 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23574 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(5.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1343\"><div><div class=\"ps485 ss504\"><span class=\"f charStyle-183bdf94 ps132\">Cash inflows (B)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4523 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6331 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">10.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23575 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">10.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1343\"><div><div class=\"ps485 ss504\"><span class=\"f charStyle-ba8ac8da ps132\">Net cash flows<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4535 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-ba8ac8da ps21891\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6346 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">6.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23576 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26382 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:461.66pt\">The overall changes in the cash flow hedge reserve and the associated deferred taxes are shown below.</span></div><div class=\"ps26388 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:198.75pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8757 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26384\">gross amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26373 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26385\">tax effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps23758\">net amount<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26375 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6310 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps15089 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26377 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">8.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6319 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23574 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">6.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">profit or loss impact<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26378 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6331 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23575 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">net equity impact<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26379 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6346 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23561\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23576 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss556\"><div><div class=\"ps476 ss555\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26386 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26387 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps26376\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23577 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">4.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26390 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:198.75pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8757 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26384\">gross amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26373 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26385\">tax effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps23758\">net amount<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26375 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6310 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps15089 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26377 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">12.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6319 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23574 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">9.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">profit or loss impact<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26378 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6331 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23575 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">net equity impact<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26379 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6346 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23576 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(2.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss556\"><div><div class=\"ps476 ss555\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26386 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">8.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26387 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23577 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">6.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15452 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:252.81pt\">Hedging derivatives not reported using hedge accounting</span></div><div class=\"ps9895 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:470.68pt\">These instruments are mainly related to hedges of future purchases in currencies other than the \u20ac. </span><span class=\"f charStyle-58d8bcbe ps26391\" style=\"width:25.45pt\">At 31</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps15455 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:72.28pt\">December 2025</span><span class=\"f charStyle-58d8bcbe ps26392\" style=\"width:97.9pt\">, financial assets of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26393\" style=\"width:13.89pt\">1.3</span><span class=\"f charStyle-58d8bcbe ps26394\" style=\"width:151.3pt\"> million and financial liabilities of </span><span class=\"f charStyle-58d8bcbe ps26395\" style=\"width:5.56pt\">\u20ac</span><span class=\"f charStyle-58d8bcbe ps26396\" style=\"width:13.89pt\">0.3</span><span class=\"f charStyle-58d8bcbe ps26397\" style=\"width:26.69pt\"> millio</span><span class=\"f charStyle-58d8bcbe ps26398\" style=\"width:91.23pt\">n were recognised (</span><span class=\"f charStyle-58d8bcbe ps26399\" style=\"width:23.37pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps3764 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2024</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:90.53pt\"> financial assets of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26400\" style=\"width:13.89pt\">0.4</span><span class=\"f charStyle-58d8bcbe ps26401\" style=\"width:149.96pt\"> million and financial liabilities of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26402\" style=\"width:13.89pt\">1.5</span><span class=\"f charStyle-58d8bcbe ps26403\" style=\"width:95.52pt\"> million, respectively).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-525": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps7816 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:203.87pt\">Derecognition of financial assets and liabilities</span></div><div class=\"ps7817 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:467.52pt\">primarily derecognised (i.e., removed from the Group\u2019s consolidated statement of financial position) when:</span><span class=\"f charStyle-2293a859 ps23220\" style=\"width:2.77pt\"> </span></div><div class=\"ps7819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:279.37pt\">the rights to receive cash flows from the asset have expired, or,</span></div><div class=\"ps4931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482pt\">the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">the received cash flows in full without material delay to a third party under a \u2018pass-through\u2019 arrangement and</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps7821 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:481.99pt\">either (i) the Group has transferred substantially all the risks and rewards of the asset, or (ii) the Group has</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7822 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.01pt\">neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps7823 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:87.19pt\">control of the asset.</span></div><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">When an existing financial liability is replaced by another from the same lender on substantially different terms,</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.06pt\">or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps389\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">derecognition of the original liability and the recognition of a new liability. The difference in the respective</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:283.26pt\">carrying amounts is recognised in the statement of profit or loss.</span><span class=\"f charStyle-2293a859 ps23221\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">For detailed information on the accounting policy for put and call options over joint-ventures agreements, please</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:423.16pt\">refer to note 3 xii-\u2018Share of profit (loss) of joint-ventures and Profit (loss) from other investments\u2019</span><span class=\"f charStyle-2293a859 ps23222\" style=\"width:2.77pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-524": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:135.52pt\">Impairment of a financial asset</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets are tested for recoverability by applying an impairment model based on the expected credit loss</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:32.76pt\">(\u2018ECL\u2019).</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group applies the simplified method for trade receivables, which considers the probability of default over</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">the financial instrument\u2019s life (lifetime expected credit losses). In making impairment assessments, the Group</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">considers its historical credit loss experience, adjusted for forward-looking factors specific to the nature of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Group\u2019s receivables and economic environment. If any such evidence exists, an impairment loss is recognised</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">under selling, general and administrative expenses. More specifically, non-performing receivables are analysed</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">based on the debtor\u2019s creditworthiness and ability to pay the sums due, as well as the degree of effective</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.92pt\">coverage provided by any collateral and personal guarantees in existence.</span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">With regard to trade receivables, two approaches are applied to estimate impairment, based on the specific</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">characteristics of the individual countries in which the Group operates and its constant growth at a global level:</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">one is a matrix-based model and the other applies the probability of default (\u2018PD\u2019) obtained from external</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">sources specialising in the country in which each subsidiary is located. The provision matrix, including the</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:331.6pt\">overall actual result of the year, is reported in the relevant disclosure notes.</span></div><div class=\"ps1406 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">A financial asset is impaired when internal or external information indicates that it is unlikely that the Group will</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1410 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:154.97pt\">receive the full contractual amount.</span></div><div class=\"ps1411 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Lastly, with regard to other financial assets measured at amortised cost, and, more specifically, cash and cash</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1412 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">equivalents, the impact in terms of expected loss is not considered material and for this reason no adjustment is</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:111.66pt\">made to the book values.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-523": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets also include investments in companies that are not held for trading. These assets are strategic</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">investments, and the Group has decided to recognise changes in the related fair values through profit or loss</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:44.4pt\">(\u2018FVTPL\u2019).</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Financial assets represented by debt securities are classified and valued in the statement of financial position</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">based on the business model adopted to manage these financial assets and the financial flows associated with</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">each financial asset. They are measured at fair value through other comprehensive income (\u2018FVOCI\u2019) if all the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:198.3pt\">conditions required by IFRS 9 are respected.</span><span class=\"f charStyle-2293a859 ps23216\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span><div class=\"ps1419 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:238.88pt\">Financial liabilities, including trade and other payables</span></div><div class=\"ps1420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Financial liabilities include financial payables, bonds and loans due to banks, which, in turn, include the negative</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">fair value of financial derivatives, trade payables and other payables including contingent consideration and</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1422 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:313.32pt\">variable payments deriving from business combinations or asset deals.</span></div><div class=\"ps7248 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Financial liabilities are classified and measured at amortised cost, except for financial liabilities that are initially<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7249 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">measured at fair value, i.e., derivative instruments, financial liabilities relating to earn-out linked to business</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:358.29pt\">combinations and financial liabilities for put options over non-controlling interests.</span><span class=\"f charStyle-2293a859 ps23219\" style=\"width:2.77pt\"> </span></div><div class=\"ps7257 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Trade and other payables are initially recognised at fair value including transaction costs and subsequently</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:112.19pt\">carried at amortised cost.</span><div class=\"ps7824 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:92.79pt\">Financial guarantees</span></div><div class=\"ps7825 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">The Group recognises financial guarantees as a financial liability if the likelihood of these guarantees being</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7827 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">called is assessed not to be remote and the Group is expected to be liable for any legal obligation in respect of</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps7828 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">these financial guarantee agreements. Financial guarantee contract liabilities are measured initially at their fair</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7829 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">value, with subsequent remeasurement impacting profit or loss. They are represented as a long- or short-term</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7830 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">financial liability, depending on the time of the expected execution of the guarantees. If the likelihood of these</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps7831 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">guarantees being called is assessed to be remote, they are treated as commitments with disclosure</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps7833 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">requirements only. This occurs when they are represented as other forms of security in favour of third parties,</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps7834 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:361.64pt\">such as customs guarantees for excise duties and guarantees to grant credit lines</span><span class=\"f charStyle-2293a859 ps20057\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-2293a859 ps23227\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps23228\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps23229\" style=\"width:2.77pt\"> </span><span class=\"f charStyle-2293a859 ps23230\" style=\"width:49.86pt\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:379.42pt\">The value of individual categories of financial assets and liabilities held by the Group </span><span class=\"f charStyle-58d8bcbe ps22716\" style=\"width:96.96pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps23231\" style=\"width:3.05pt\"> </span><span class=\"f charStyle-58d8bcbe ps23232\" style=\"width:16.68pt\">and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:96.12pt\">at 31 December 2024</span><span class=\"f charStyle-58d8bcbe ps23233\" style=\"width:137.74pt\"> is shown in the following table.</span></div><div class=\"ps8644 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:233.25pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:78pt\"></td></tr><tr style=\"height:16.5pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1754\"><div><div class=\"ps2415 ss1753\"><span class=\"f charStyle-23317bb7 ps132\"><span style=\"background-color:inherit\">at 31 December 2025</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23234 ss1755\"><div><div class=\"ps11743 ss112\"><span class=\"f charStyle-183bdf94 ps16068\">carrying amount<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5024 ss1756\"><div><div class=\"ps2415 ss112\"><span class=\"f charStyle-183bdf94 ps18013\">measurement at <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss112\"><span class=\"f charStyle-183bdf94 ps23235\">amortised cost</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23238 ss1416\"><div><div class=\"ps2415 ss465\"><span class=\"f charStyle-183bdf94 ps23236\">measurement at <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss465\"><span class=\"f charStyle-183bdf94 ps23237\">fair value through </span></div><div class=\"ps2419 ss465\"><span class=\"f charStyle-183bdf94 ps6368\">profit and loss</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8424 ss1757\"><div><div class=\"ps2415 ss498\"><span class=\"f charStyle-183bdf94 ps23239\">measurement at fair <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss498\"><span class=\"f charStyle-183bdf94 ps23240\">value with changes </span></div><div class=\"ps2419 ss498\"><span class=\"f charStyle-183bdf94 ps23241\">recognised in the </span></div><div class=\"ps2420 ss498\"><span class=\"f charStyle-183bdf94 ps23242\">statement of </span></div><div class=\"ps2421 ss498\"><span class=\"f charStyle-183bdf94 ps19580\">comprehensive income</span></div></div></div></td></tr><tr style=\"height:27pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23244 ss1758\"><div><div class=\"ps23243 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4232 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Cash and cash equivalents<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23245 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">703.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23246 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">703.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23247 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23248 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4248 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Other current financial assets</span><span class=\"f charStyle-85922b7e ps23249\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23250 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">13.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23251 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">13.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23252 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23253 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4395 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23254 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">21.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23255 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">21.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23256 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23257 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4412 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23258 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(71.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23259 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(71.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23260 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23261 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11863 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Loans due to banks</span><span class=\"f charStyle-85922b7e ps23262\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23263 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(899.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23264 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(899.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23265 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23266 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8706 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Bonds</span><span class=\"f charStyle-85922b7e ps23267\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23269 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps23268\">(1,589.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23270 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps23268\">(1,589.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23271 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23272 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps2982 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Accrued interest on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23273 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(21.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23274 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(21.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23275 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23276 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11881 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Other current financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23277 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(25.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23278 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(25.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23279 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23280 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11887 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Liabilities for put option and earn-out payments</span><span class=\"f charStyle-85922b7e ps23281\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23282 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21477\">(89.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23283 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21501\">(3.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps23285 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps23284\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps23287 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps23286\">(86.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps5141 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Non-current and current assets for hedging derivatives</span><span class=\"f charStyle-85922b7e ps23288\"><span class=\"f ps21\"> </span><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23289 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21496\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps5146 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps15308\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23291 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps23290\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23292 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps20711\">1,6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps3367 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-b442976f ps23293\">Current assets for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23295 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps14502\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23297 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23299 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23298\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23301 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps23300\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5601 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-b442976f ps23302\">Current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23303 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps14502\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23304 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23306 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23305\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23307 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps5763\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps8376 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-22ddbc25 ps23308\">Non-current asset for hedging derivatives</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23309 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps14502\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23310 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23311 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23305\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23312 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps5763\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8387 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-40131897 ps132\">Non-current and current liabilities for hedging derivatives</span><span class=\"f charStyle-85922b7e ps23313\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23314 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21501\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23315 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps15308\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23316 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps23284\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23318 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps23317\">(1.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps8398 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-b442976f ps3373\">Current liabilities for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23320 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23319\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23321 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23323 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23322\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23324 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps23300\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8409 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-b442976f ps23325\">Current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23326 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23319\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23327 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23328 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23305\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23329 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps22176\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23331 ss1759\"><div><div class=\"ps23294 ss1753\"><span class=\"f charStyle-b442976f ps23330\">Non-current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23332 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23319\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23333 ss127\"><div><div class=\"ps23294 ss112\"><span class=\"f charStyle-b442976f ps23296\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23334 ss1702\"><div><div class=\"ps23294 ss465\"><span class=\"f charStyle-b442976f ps23305\">\u2013<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23335 ss499\"><div><div class=\"ps23294 ss498\"><span class=\"f charStyle-b442976f ps22176\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps2549 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23336 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21462\">36.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23337 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21496\">9.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23338 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps16258\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23339 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps23340 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Trade receivables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23341 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">327.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23342 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21457\">327.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23343 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23344 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5645 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-183bdf94 ps132\">Trade payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23345 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(714.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23346 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-183bdf94 ps21467\">(714.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23347 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-183bdf94 ps20676\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23348 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-183bdf94 ps21315\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9503 ss1759\"><div><div class=\"ps485 ss1753\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23349 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-ba8ac8da ps23268\">(2,309.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23350 ss127\"><div><div class=\"ps485 ss112\"><span class=\"f charStyle-ba8ac8da ps23268\">(2,250.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23351 ss1702\"><div><div class=\"ps485 ss465\"><span class=\"f charStyle-ba8ac8da ps16258\">26.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23352 ss499\"><div><div class=\"ps485 ss498\"><span class=\"f charStyle-ba8ac8da ps23286\">(86.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps5690 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:101.85pt\">Excluding connected derivatives.</span></div><div class=\"ps5691 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:165.61pt\">Excluding derivatives on loans and bond due to bank.</span></div><div class=\"ps5692 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:416.95pt\">Liabilities linked to some business combinations may be elected to have the fair value variation accounted for against the Group equity.</span></div><div class=\"ps23353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(4) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:382.9pt\">Non-current and current asset and liabilities for hedging derivatives both reported and not reported under hedge accounting.</span></div><div class=\"ps23425 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:225.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:74.25pt\"></td><td style=\"padding:0;width:78.75pt\"></td></tr><tr style=\"height:21.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1761\"><div><div class=\"ps10359 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23355 ss1762\"><div><div class=\"ps17657 ss536\"><span class=\"f charStyle-183bdf94 ps23354\">carrying amount<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23357 ss1415\"><div><div class=\"ps17661 ss304\"><span class=\"f charStyle-183bdf94 ps4116\">measurement at <span class=\"f ps21\"> </span></span></div><div class=\"ps10058 ss304\"><span class=\"f charStyle-183bdf94 ps23356\">amortised cost</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23361 ss1763\"><div><div class=\"ps17667 ss18\"><span class=\"f charStyle-183bdf94 ps23358\">measurement at fair <span class=\"f ps21\"> </span></span></div><div class=\"ps17657 ss18\"><span class=\"f charStyle-183bdf94 ps23359\">value through profit </span></div><div class=\"ps17670 ss18\"><span class=\"f charStyle-183bdf94 ps23360\">and loss</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14160 ss1764\"><div><div class=\"ps23363 ss1166\"><span class=\"f charStyle-183bdf94 ps23362\">measurement at fair <span class=\"f ps21\"> </span></span></div><div class=\"ps23365 ss1166\"><span class=\"f charStyle-183bdf94 ps23364\">value with changes </span></div><div class=\"ps23367 ss1166\"><span class=\"f charStyle-183bdf94 ps23366\">recognised in the </span></div><div class=\"ps23369 ss1166\"><span class=\"f charStyle-183bdf94 ps23368\">statement of </span></div><div class=\"ps23371 ss1166\"><span class=\"f charStyle-183bdf94 ps23370\">comprehensive income</span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12908 ss1761\"><div><div class=\"ps10359 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4232 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Cash and cash equivalents<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4239 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">666.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23373 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23372\">666.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4377 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23374 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4248 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Other current financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps4254 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23375\">7.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23376 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">7.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4392 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23377 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4395 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current financial assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23378 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23375\">7.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23379 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">7.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4407 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23380 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4412 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23381 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps4500\">(77.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23382 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(77.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4421 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14170 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11863 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-40131897 ps132\">Loans due to banks</span><span class=\"f charStyle-85922b7e ps23262\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23383 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2717\">(1,205.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23384 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps20300\">(1,205.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11866 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23385 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8706 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23386 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2717\">(1,580.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23387 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps20300\">(1,580.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11872 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23388 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps2982 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Accrued interest on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23389 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps4500\">(21.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23390 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22239\">(21.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11878 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23391 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11881 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Other current financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23393 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23392\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23394 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11884 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23395 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11887 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-40131897 ps132\">Liabilities for put option and earn-out payments</span><span class=\"f charStyle-85922b7e ps23281\"><sup>(2)</sup></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23397 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23396\">(168.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23398 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps22215\">(3.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11890 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps23399\">(49.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23400 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps6309\">(115.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5141 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23401 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23375\">3.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23402 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11896 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22167\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23404 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps23403\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps3367 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-40131897 ps132\">Non-current assets for hedging derivatives</span><span class=\"f charStyle-85922b7e ps23405\"><span class=\"f ps21\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23406 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23392\">(7.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23407 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16533\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11901 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps23408\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23410 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps23409\">(6.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5601 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Other non-current assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23412 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">98.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23413 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps16517\">8.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11906 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps532\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23414 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps8376 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Trade receivables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23415 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">425.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23416 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23372\">425.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11912 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23417 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8387 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Trade payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps23418 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps23396\">(672.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps23420 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23419\">(672.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11918 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-183bdf94 ps22162\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23421 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8398 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23422 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-ba8ac8da ps2717\">(2,525.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23423 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-ba8ac8da ps20300\">(2,446.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11923 ss19\"><div><div class=\"ps485 ss18\"><span class=\"f charStyle-ba8ac8da ps532\">38.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23424 ss1175\"><div><div class=\"ps485 ss1166\"><span class=\"f charStyle-ba8ac8da ps20538\">(117.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23426 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:138pt\">Excluding derivatives on loans due to banks.</span></div><div class=\"ps23428 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:416.95pt\">Liabilities linked to some business combinations may be elected to have the fair value variation accounted for against the Group equity.</span><span class=\"f charStyle-40131897 ps23427\" style=\"width:1.94pt\"> </span></div><div class=\"ps23429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:237.14pt\">Derivatives on loans due to banks and new pre-hedging contract subscribed.</span></div><div class=\"ps1752 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:6.1pt\">T</span><span class=\"f charStyle-58d8bcbe ps17898\" style=\"width:489.99pt\">he tables below show a breakdown of the foreign exchange contracts on highly probable sales and purchases</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1753 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">and interest-rate swaps on loans. It also includes the effect of hedging derivatives, not in hedge accounting with<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1754 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">fair value variations recognised through the statement of profit or loss. Call and/or put agreements over joint-</span></div><div class=\"ps1755 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:428.85pt\">ventures elected as derivative instruments with negligible fair value variation are disclosed below.</span><span class=\"f charStyle-58d8bcbe ps23430\" style=\"width:2.77pt\"> </span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:178.5pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:87pt\"></td><td style=\"padding:0;width:73.5pt\"></td><td style=\"padding:0;width:83.25pt\"></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1766\"><div><div class=\"ps4101 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">foreign exchange forward contracts and options <span class=\"f ps21\"> </span></span></div><div class=\"ps4103 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">(highly probable forecast sales and purchases)<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16006 ss1768\"><div><div class=\"ps485 ss1767\"><span class=\"f charStyle-183bdf94 ps23431\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16007 ss1770\"><div><div class=\"ps485 ss1769\"><span class=\"f charStyle-183bdf94 ps23432\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20441 ss1771\"><div><div class=\"ps485 ss38\"><span class=\"f charStyle-183bdf94 ps23433\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1353\"><div><div class=\"ps979 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23434 ss395\"><div><div class=\"ps2776 ss355\"><span class=\"f charStyle-183bdf94 ps11972\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss355\"><span class=\"f charStyle-183bdf94 ps8083\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4039 ss378\"><div><div class=\"ps979 ss110\"><span class=\"f charStyle-183bdf94 ps23435\">average forward rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4117 ss395\"><div><div class=\"ps2776 ss355\"><span class=\"f charStyle-183bdf94 ps11972\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss355\"><span class=\"f charStyle-183bdf94 ps8083\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23437 ss998\"><div><div class=\"ps979 ss288\"><span class=\"f charStyle-183bdf94 ps23436\">average forward rate<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23438 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18668\">87.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23440 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">1.15<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23441 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18660\">187.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23443 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">1.08<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Russian Ruble<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23444 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18668\">10.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23446 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23445\">92.88<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23448 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23447\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23449 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps20534\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Australian Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23451 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">5.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23452 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">1.78<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23453 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps18668\">38.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23454 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">1.67<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Swiss Franc<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23455 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23456 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">0.93<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23457 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">2.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps5090 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">0.93<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Singapore Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23458 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23447\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23460 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23459\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23461 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23462 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">1.43<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Sterling Pound<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23463 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23464 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">0.89<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23465 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23450\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23466 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23442\">0.84<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps132\">Canadian Dollar<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23468 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23467\">(2.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23469 ss126\"><div><div class=\"ps476 ss110\"><span class=\"f charStyle-183bdf94 ps23439\">1.63<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23470 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-183bdf94 ps23447\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23471 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps20534\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23472 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-ba8ac8da ps18660\">105.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23473 ss356\"><div><div class=\"ps485 ss355\"><span class=\"f charStyle-ba8ac8da ps18660\">239.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps23500 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:154.5pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:63.75pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td><td style=\"padding:0;width:57pt\"></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1772\"><div><div class=\"ps2415 ss901\"><span class=\"f charStyle-183bdf94 ps132\">nature of hedged items and related derivatives <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss901\"><span class=\"f charStyle-183bdf94 ps132\">forward</span></div></div></div></td><td colspan=\"6\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23475 ss1774\"><div><div class=\"ps476 ss1773\"><span class=\"f charStyle-183bdf94 ps606\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4096 ss450\"><div><div class=\"ps476 ss449\"><span class=\"f charStyle-183bdf94 ps23476\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23477 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps15233\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1775\"><div><div class=\"ps2579 ss901\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4109 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">notional <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18576\">amount </span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23479\">hedge items</span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23482 ss1520\"><div><div class=\"ps2578 ss172\"><span class=\"f charStyle-183bdf94 ps23480\">carrying amounts <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss172\"><span class=\"f charStyle-183bdf94 ps23481\">hedging </span></div><div class=\"ps2580 ss172\"><span class=\"f charStyle-183bdf94 ps14872\">instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14896 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23483\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18065\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">(losses)</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23485 ss1405\"><div><div class=\"ps5026 ss304\"><span class=\"f charStyle-183bdf94 ps23484\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss304\"><span class=\"f charStyle-183bdf94 ps5477\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23488 ss292\"><div><div class=\"ps2578 ss197\"><span class=\"f charStyle-183bdf94 ps23486\">carrying amounts <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps4036\">hedging </span></div><div class=\"ps2580 ss197\"><span class=\"f charStyle-183bdf94 ps23487\">instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14898 ss291\"><div><div class=\"ps2578 ss290\"><span class=\"f charStyle-183bdf94 ps23489\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss290\"><span class=\"f charStyle-183bdf94 ps4147\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss290\"><span class=\"f charStyle-183bdf94 ps23490\">(losses)</span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5727 ss1775\"><div><div class=\"ps2578 ss901\"><span class=\"f charStyle-183bdf94 ps132\">foreign exchange forward contracts and options<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss901\"><span class=\"f charStyle-183bdf94 ps132\">(highly probable forecast sales and purchases) <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss901\"><span class=\"f charStyle-183bdf94 ps132\">fair value and cash flow hedge</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23491 ss1461\"><div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18458\">105.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23493 ss1520\"><div><div class=\"ps2579 ss172\"><span class=\"f charStyle-183bdf94 ps23492\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20575 ss1461\"><div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps23494\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23496 ss1405\"><div><div class=\"ps2579 ss304\"><span class=\"f charStyle-183bdf94 ps23495\">239.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23497 ss292\"><div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps14465\">(6.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23499 ss291\"><div><div class=\"ps2579 ss290\"><span class=\"f charStyle-183bdf94 ps23498\">(5.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23508 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:154.5pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:63.75pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td><td style=\"padding:0;width:57pt\"></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1772\"><div><div class=\"ps23502 ss901\"><span class=\"f charStyle-183bdf94 ps132\">nature hedged items <span class=\"f ps21\"> </span></span></div><div class=\"ps23503 ss901\"><span class=\"f charStyle-183bdf94 ps132\">and related derivatives interest rate swaps<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23475 ss1774\"><div><div class=\"ps476 ss1773\"><span class=\"f charStyle-183bdf94 ps606\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4096 ss450\"><div><div class=\"ps476 ss449\"><span class=\"f charStyle-183bdf94 ps23476\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23477 ss1352\"><div><div class=\"ps476 ss1351\"><span class=\"f charStyle-183bdf94 ps15233\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1775\"><div><div class=\"ps2579 ss901\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4109 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">notional <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18576\">amount </span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23479\">hedge items</span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23482 ss1520\"><div><div class=\"ps2578 ss172\"><span class=\"f charStyle-40131897 ps23480\">carrying amounts </span></div><div class=\"ps2579 ss172\"><span class=\"f charStyle-40131897 ps23481\">hedging <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss172\"><span class=\"f charStyle-40131897 ps23504\">instruments<span class=\"f ps21\"> </span></span><span class=\"f charStyle-85922b7e ps23505\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14896 ss1461\"><div><div class=\"ps2578 ss358\"><span class=\"f charStyle-183bdf94 ps23483\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss358\"><span class=\"f charStyle-183bdf94 ps18065\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss358\"><span class=\"f charStyle-183bdf94 ps23478\">(losses)</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23485 ss1405\"><div><div class=\"ps5026 ss304\"><span class=\"f charStyle-183bdf94 ps23484\">notional amount <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss304\"><span class=\"f charStyle-183bdf94 ps5477\">hedge items</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23488 ss292\"><div><div class=\"ps2578 ss197\"><span class=\"f charStyle-183bdf94 ps23486\">carrying amounts <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss197\"><span class=\"f charStyle-183bdf94 ps4036\">hedging </span></div><div class=\"ps2580 ss197\"><span class=\"f charStyle-183bdf94 ps23487\">instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14898 ss291\"><div><div class=\"ps2578 ss290\"><span class=\"f charStyle-183bdf94 ps23489\">change in fair<span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss290\"><span class=\"f charStyle-183bdf94 ps4147\">value gain <span class=\"f ps21\"> </span></span></div><div class=\"ps2580 ss290\"><span class=\"f charStyle-183bdf94 ps23490\">(losses)</span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5727 ss1776\"><div><div class=\"ps2776 ss901\"><span class=\"f charStyle-183bdf94 ps132\">interest rate swap contracts on loans financial <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss901\"><span class=\"f charStyle-183bdf94 ps132\">statements impact</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23491 ss1561\"><div><div class=\"ps979 ss358\"><span class=\"f charStyle-183bdf94 ps18458\">848.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23493 ss420\"><div><div class=\"ps979 ss172\"><span class=\"f charStyle-183bdf94 ps23506\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20575 ss1561\"><div><div class=\"ps979 ss358\"><span class=\"f charStyle-183bdf94 ps23494\">1.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23496 ss1402\"><div><div class=\"ps979 ss304\"><span class=\"f charStyle-183bdf94 ps23495\">963.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23497 ss233\"><div><div class=\"ps979 ss197\"><span class=\"f charStyle-183bdf94 ps23507\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23499 ss1777\"><div><div class=\"ps979 ss290\"><span class=\"f charStyle-183bdf94 ps1037\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23509 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:363.7pt\">The carrying value is included in the line \u2018Loans due to banks\u2019 in the financial instruments\u2019 recap table reported above.<span class=\"f ps21\"> </span></span></div><div class=\"ps26151 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Fair Value Information on Assets and Liabilities<span id=\"if2edeecf2a55458e960be05d8323a9a7\"></span></span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">A summary of the financial and non-financial assets and liabilities measured at fair value is shown in the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">following table. As complementary information, the fair value of the financial items measured at amortised cost<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:211.68pt\">based on the applicable business model is also </span><span class=\"f charStyle-58d8bcbe ps26164\" style=\"width:37.24pt\">included</span><span class=\"f charStyle-58d8bcbe ps26165\" style=\"width:2.77pt\">.</span></div><div class=\"ps23930 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:306pt\"></td><td style=\"padding:0;width:94.5pt\"></td><td style=\"padding:0;width:94.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26167 ss1469\"><div><div class=\"ps485 ss1468\"><span class=\"f charStyle-183bdf94 ps26166\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26168 ss1469\"><div><div class=\"ps485 ss1468\"><span class=\"f charStyle-183bdf94 ps26166\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18190 ss1469\"><div><div class=\"ps485 ss1468\"><span class=\"f charStyle-183bdf94 ps26169\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26170 ss1469\"><div><div class=\"ps485 ss1468\"><span class=\"f charStyle-183bdf94 ps26169\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1919\"><div><div class=\"ps476 ss1918\"><span class=\"f charStyle-ba8ac8da ps132\">A) Items reported at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26172 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-ba8ac8da ps26171\">24.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26173 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-ba8ac8da ps26171\">50.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1919\"><div><div class=\"ps485 ss1918\"><span class=\"f charStyle-c70bfe2f ps26174\">of which assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26175 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-c70bfe2f ps26171\">64.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26177 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-c70bfe2f ps26176\">114.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26179 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26180 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Current assets for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26181 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26182 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Non-current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26183 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26184 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">2.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Other non-current assets (non-financial item)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26185 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26171\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26186 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26171\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Biological asset inventory (non-financial item)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26187 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26171\">34.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26188 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26171\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1919\"><div><div class=\"ps485 ss1918\"><span class=\"f charStyle-c70bfe2f ps26189\">of which liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26190 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-c70bfe2f ps26171\">88.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26191 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-c70bfe2f ps26176\">172.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps6297 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26192 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26193 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps6300 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Non-current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26194 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26195 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Current liabilities for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26196 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26197 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9630 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Liabilities for put option and earn-out payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26198 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26171\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26199 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">164.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps3137 ss1920\"><div><div class=\"ps2776 ss1918\"><span class=\"f charStyle-ba8ac8da ps132\">B) Financial liabilities reported at amortised cost method but for which fair value <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1918\"><span class=\"f charStyle-ba8ac8da ps132\">information is provided</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26200 ss1592\"><div><div class=\"ps473 ss1468\"><span class=\"f charStyle-ba8ac8da ps22486\">2,524.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26201 ss1592\"><div><div class=\"ps473 ss1468\"><span class=\"f charStyle-ba8ac8da ps22486\">2,794.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10236 ss1919\"><div><div class=\"ps485 ss1918\"><span class=\"f charStyle-c70bfe2f ps26189\">of which liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26202 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-c70bfe2f ps22486\">2,524.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26203 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-c70bfe2f ps22486\">2,794.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14618 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26204 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">920.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26205 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps22486\">1,215.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4674 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Bonds issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26206 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">533.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26207 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">517.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14639 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Bonds issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26208 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">315.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26209 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">319.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps14238 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Bonds issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26210 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">754.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26211 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">742.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8897 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">There were no changes in the Group\u2019s valuation processes, techniques, and types of inputs used in the fair</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps26213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">value measurements during the period regarding the fair value of a) financial and b) non-financial instruments.</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.59pt\"> </span></div><div class=\"ps26216 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:148.83pt\">The valuation date for all items is </span><span class=\"f charStyle-58d8bcbe ps26214\" style=\"width:85.02pt\">31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps26215\" style=\"width:2.77pt\">.</span></div><div class=\"ps26217 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:103.25pt\">Financial Instruments</span></div><div class=\"ps26218 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">An analysis of financial instruments measured at fair value based on three different valuation levels is provided</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps26223 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:411.42pt\">in the following table. There were no transfers between fair value measurement levels during </span><span class=\"f charStyle-bdf8be45 ps26219\" style=\"width:36.11pt\"><span style=\"background-color:inherit\">the year</span></span><span class=\"f charStyle-bdf8be45 ps26220\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span><span class=\"f charStyle-58d8bcbe ps26221\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps26222\" style=\"width:2.77pt\">.</span></div><div class=\"ps26225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:151.62pt\">Fair value of financial instruments:</span></div><div class=\"ps26226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.91pt\">for financial assets and liabilities that are liquid or nearing maturity, it is assumed that the carrying amount</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps26227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.05pt\">equates to fair value; this assumption also applies to term deposits, securities that can be readily converted</span><span class=\"f charStyle-58d8bcbe ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps26228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:209.41pt\">to cash, and variable-rate financial instruments;</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.02pt\">for the measurement of hedging instruments at fair value, the Group used valuation models based on market</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:53.33pt\">parameters;</span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.02pt\">the fair value of non-current financial payables was obtained by discounting all future cash flows to present</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:253.66pt\">value under the conditions in effect at the end of the year.</span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">Derivatives, valued using techniques based on market data, are mainly interest-rate swaps and forward sales/</span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:466.06pt\">purchases of foreign currencies to hedge both the fair value of the underlying instruments and cash flows.</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">The most commonly applied measurement methods include forward pricing and swap models, which use</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">present value calculations. The models incorporate various inputs, including the non-performance risk rating of</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:468.42pt\">the counterparty, market volatility, spot and forward exchange rates and current and forward interest rates.</span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">An analysis of financial instruments measured at fair value, based on three different valuation levels is provided</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:79.99pt\">in the table below.</span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.02pt\">level 1: valuation for the financial assets in question was calculated using a methodology based on the NAV,</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:241.1pt\">which was obtained from specialised external sources;</span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.92pt\">level 2: valuation used for financial instruments measured at fair value was based on parameters such as<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">exchange rates and interest rates, which are quoted on active markets or are observable on official yield</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:32.22pt\">curves;</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.05pt\">level 3: valuation used for financial liabilities deriving from or connected to business combinations, where a</span><span class=\"f charStyle-58d8bcbe ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.05pt\">portion of the consideration was determined as a condition subordinated to the company\u2019s performance<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1261\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:226.12pt\">acquired, based on contractually agreed indicators.</span></div><div class=\"ps15383 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:225.75pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23355 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14435 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14436 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26231 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14838 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6687 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Assets reported at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14843 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14848 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Non-current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps15180 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Liabilities reported at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps15185 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1765\"><div><div class=\"ps485 ss1760\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:137.58pt\">Non-current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps15187 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps15189 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Liabilities for put option and earn-out payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26232 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15156\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Financial liabilities at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16629 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">920.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16643 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">533.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16657 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">315.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16672 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">754.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps26233 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:225.75pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-23317bb7 ps132\"><span style=\"background-color:inherit\">at 31 December 2024</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23355 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14435 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14436 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26231 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14838 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6687 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Assets reported at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps14843 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps14848 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Non-current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps15180 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">2.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Liabilities reported at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps15185 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps15187 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Liabilities for put option and earn-out payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps15190 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">164.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Financial liabilities at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps16614 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps6988\">1,215.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps16629 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">517.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps16643 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">319.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16657 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">742.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps11291 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:472.2pt\">The following tables show the valuation techniques used in measuring level 2 and level 3 fair values </span><span class=\"f charStyle-58d8bcbe ps26234\" style=\"width:23.92pt\">at 31<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps11292 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.76pt\">December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps26235\" style=\"width:424.33pt\"> for financial instruments measured at fair value in the statement of Financial Position, and the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps11293 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:163.9pt\">significant unobservable inputs used.</span><span class=\"f charStyle-58d8bcbe ps26236\" style=\"width:2.77pt\"> </span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:123.75pt\"></td><td style=\"padding:0;width:196.5pt\"></td><td style=\"padding:0;width:95.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td></tr><tr style=\"height:45pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss960\"><div><div class=\"ps2465 ss458\"><span class=\"f charStyle-ba8ac8da ps132\">type<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7719 ss1922\"><div><div class=\"ps2465 ss1921\"><span class=\"f charStyle-ba8ac8da ps132\">valuation technique<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22946 ss1923\"><div><div class=\"ps2455 ss1822\"><span class=\"f charStyle-ba8ac8da ps132\">Significant unobservable <span class=\"f ps21\"> </span></span></div><div class=\"ps2456 ss1822\"><span class=\"f charStyle-ba8ac8da ps132\">inputs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26237 ss1924\"><div><div class=\"ps2463 ss618\"><span class=\"f charStyle-ba8ac8da ps132\">inter-relationship <span class=\"f ps21\"> </span></span></div><div class=\"ps2464 ss618\"><span class=\"f charStyle-ba8ac8da ps132\">between significant <span class=\"f ps21\"> </span></span></div><div class=\"ps2465 ss618\"><span class=\"f charStyle-ba8ac8da ps132\">unobservable inputs </span></div><div class=\"ps2466 ss618\"><span class=\"f charStyle-ba8ac8da ps132\">and fair value <span class=\"f ps21\"> </span></span></div><div class=\"ps2468 ss618\"><span class=\"f charStyle-ba8ac8da ps132\">measurement</span></div></div></div></td></tr><tr style=\"height:53.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1925\"><div><div class=\"ps2618 ss458\"><span class=\"f charStyle-183bdf94 ps132\">Forward and option exchange <span class=\"f ps21\"> </span></span></div><div class=\"ps2619 ss458\"><span class=\"f charStyle-183bdf94 ps132\">contracts</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26238 ss1926\"><div><div class=\"ps2415 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">The fair value is determined using quoted forward exchange <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">rates at the reporting date based on high credit quality yield <span class=\"f ps21\"> </span></span></div><div class=\"ps2419 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">curves in the respective currencies. The models incorporate </span></div><div class=\"ps2420 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">various inputs, including the counterparty's credit rating, </span></div><div class=\"ps2421 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">market volatility, spot and forward exchange rates and current </span></div><div class=\"ps2422 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">and forward interest rates.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22953 ss1927\"><div><div class=\"ps10643 ss1822\"><span class=\"f charStyle-183bdf94 ps132\">Not applicable.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26239 ss1928\"><div><div class=\"ps10643 ss618\"><span class=\"f charStyle-183bdf94 ps132\">Not applicable.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:104.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12854 ss1929\"><div><div class=\"ps10783 ss458\"><span class=\"f charStyle-183bdf94 ps132\">Interest rate<span class=\"f ps21\"> </span></span></div><div class=\"ps10785 ss458\"><span class=\"f charStyle-183bdf94 ps132\">swaps<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13331 ss1930\"><div><div class=\"ps2415 ss1921\"><span class=\"f charStyle-40131897 ps132\">The fair value of interest rate swap agreements is calculated </span></div><div class=\"ps2417 ss1921\"><span class=\"f charStyle-40131897 ps132\">as the present value of the estimated future cash flows. </span></div><div class=\"ps2419 ss1921\"><span class=\"f charStyle-40131897 ps132\">Estimates of future floating-rate cash flows are based on </span></div><div class=\"ps2420 ss1921\"><span class=\"f charStyle-40131897 ps132\">quoted swap rates, futures prices and interbank borrowing </span></div><div class=\"ps2421 ss1921\"><span class=\"f charStyle-40131897 ps132\">rates. Estimated cash flows are discounted using a yield </span></div><div class=\"ps2422 ss1921\"><span class=\"f charStyle-40131897 ps132\">curve constructed from similar sources reflecting the </span></div><div class=\"ps2426 ss1921\"><span class=\"f charStyle-40131897 ps132\">applicable benchmark interbank rate used by market </span></div><div class=\"ps2429 ss1921\"><span class=\"f charStyle-40131897 ps132\">participants when pricing interest rate swaps. The fair value </span></div><div class=\"ps2432 ss1921\"><span class=\"f charStyle-40131897 ps132\">estimate is subject to a credit risk adjustment that reflects the </span></div><div class=\"ps2434 ss1921\"><span class=\"f charStyle-40131897 ps132\">credit risk of the Group and the counterparty; this is </span></div><div class=\"ps2436 ss1921\"><span class=\"f charStyle-40131897 ps132\">calculated based on credit spreads derived from current </span></div><div class=\"ps2438 ss1921\"><span class=\"f charStyle-40131897 ps132\">credit default swap or bond prices.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26240 ss1931\"><div><div class=\"ps10776 ss1822\"><span class=\"f charStyle-183bdf94 ps132\">Not applicable.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26241 ss1932\"><div><div class=\"ps10776 ss618\"><span class=\"f charStyle-183bdf94 ps132\">Not applicable.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:129pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11659 ss1933\"><div><div class=\"ps2470 ss458\"><span class=\"f charStyle-183bdf94 ps132\">Contingent consideration and put or <span class=\"f ps21\"> </span></span></div><div class=\"ps2471 ss458\"><span class=\"f charStyle-183bdf94 ps132\">put/call agreements connected with </span></div><div class=\"ps2472 ss458\"><span class=\"f charStyle-183bdf94 ps132\">business combination</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14235 ss1934\"><div><div class=\"ps2460 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">The valuation model considers the present value of expected <span class=\"f ps21\"> </span></span></div><div class=\"ps2461 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">payments, discounted using a risk-adjusted discount rate.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26246 ss1935\"><div><div class=\"ps2456 ss1822\"><span class=\"f charStyle-40131897 ps132\">Wilderness Trail Distillery </span></div><div class=\"ps2457 ss1822\"><span class=\"f charStyle-40131897 ps132\">option</span></div><div class=\"ps2458 ss1822\"><span class=\"f charStyle-40131897 ps132\">- expected contractually </span></div><div class=\"ps2459 ss1822\"><span class=\"f charStyle-40131897 ps132\">target business </span></div><div class=\"ps2460 ss1822\"><span class=\"f charStyle-40131897 ps132\">performances measured </span></div><div class=\"ps2461 ss1822\"><span class=\"f charStyle-40131897 ps132\">over a period of 9 years from </span></div><div class=\"ps26242 ss1822\"><span class=\"f charStyle-40131897 ps132\">the acquisition date;</span></div><div class=\"ps26243 ss1822\"><span class=\"f charStyle-40131897 ps132\">- risk-adjusted discount rate: </span></div><div class=\"ps26244 ss1822\"><span class=\"f charStyle-40131897 ps132\">3.9%.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26252 ss1936\"><div><div class=\"ps2463 ss618\"><span class=\"f charStyle-40131897 ps132\">Estimated fair value </span></div><div class=\"ps2464 ss618\"><span class=\"f charStyle-40131897 ps132\">would increase <span class=\"f ps21\"> </span></span></div><div class=\"ps2465 ss618\"><span class=\"f charStyle-40131897 ps132\">(decrease) if:</span></div><div class=\"ps2466 ss618\"><span class=\"f charStyle-40131897 ps132\">- the expected </span></div><div class=\"ps2468 ss618\"><span class=\"f charStyle-40131897 ps132\">contractually targeted </span></div><div class=\"ps2469 ss618\"><span class=\"f charStyle-40131897 ps132\">business performance </span></div><div class=\"ps2470 ss618\"><span class=\"f charStyle-40131897 ps132\">was higher (lower); or</span></div><div class=\"ps2471 ss618\"><span class=\"f charStyle-40131897 ps132\">the risk-adjusted <span class=\"f ps21\"> </span></span></div><div class=\"ps2472 ss618\"><span class=\"f charStyle-40131897 ps132\">discount rate was lower </span></div><div class=\"ps2473 ss618\"><span class=\"f charStyle-40131897 ps132\">(higher) with related </span></div><div class=\"ps26247 ss618\"><span class=\"f charStyle-40131897 ps132\">impact on financial </span></div><div class=\"ps26248 ss618\"><span class=\"f charStyle-40131897 ps132\">liabilities affecting the <span class=\"f ps21\"> </span></span></div><div class=\"ps26249 ss618\"><span class=\"f charStyle-40131897 ps132\">expected cash out </span></div><div class=\"ps26250 ss618\"><span class=\"f charStyle-40131897 ps132\">value and Campari </span></div><div class=\"ps26251 ss618\"><span class=\"f charStyle-40131897 ps132\">Group net equity.</span></div></div></div></td></tr><tr style=\"height:153.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9479 ss1937\"><div><div class=\"ps2587 ss458\"><span class=\"f charStyle-183bdf94 ps132\">Variable payments in form of earn-out <span class=\"f ps21\"> </span></span></div><div class=\"ps2588 ss458\"><span class=\"f charStyle-183bdf94 ps132\">agreements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14249 ss1938\"><div><div class=\"ps2587 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">The valuation model considers the present value of expected <span class=\"f ps21\"> </span></span></div><div class=\"ps2588 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">payments.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26253 ss1939\"><div><div class=\"ps2415 ss1822\"><span class=\"f charStyle-40131897 ps132\">CT Spirits Japan variable </span></div><div class=\"ps2417 ss1822\"><span class=\"f charStyle-40131897 ps132\">earn-out<span class=\"f ps21\"> </span></span></div><div class=\"ps2419 ss1822\"><span class=\"f charStyle-40131897 ps132\"> - expected contractually </span></div><div class=\"ps2420 ss1822\"><span class=\"f charStyle-40131897 ps132\">target business </span></div><div class=\"ps2421 ss1822\"><span class=\"f charStyle-40131897 ps132\">performances measured </span></div><div class=\"ps2422 ss1822\"><span class=\"f charStyle-40131897 ps132\">over a period of 3 years from <span class=\"f ps21\"> </span></span></div><div class=\"ps2426 ss1822\"><span class=\"f charStyle-40131897 ps132\">the acquisition date</span></div><div class=\"ps2429 ss1822\"><span class=\"f charStyle-40131897 ps132\"> - risk-adjusted discount rate </span></div><div class=\"ps2432 ss1822\"><span class=\"f charStyle-40131897 ps132\">3.5%.</span></div><div class=\"ps2436 ss1822\"><span class=\"f charStyle-40131897 ps132\">Courvoisier earn-out</span></div><div class=\"ps2438 ss1822\"><span class=\"f charStyle-40131897 ps132\"> - company performance </span></div><div class=\"ps2440 ss1822\"><span class=\"f charStyle-40131897 ps132\">contractually envisaged with </span></div><div class=\"ps2441 ss1822\"><span class=\"f charStyle-40131897 ps132\">targets based on sales </span></div><div class=\"ps2444 ss1822\"><span class=\"f charStyle-40131897 ps132\">performances (in USD) in </span></div><div class=\"ps2445 ss1822\"><span class=\"f charStyle-40131897 ps132\">2028</span></div><div class=\"ps2447 ss1822\"><span class=\"f charStyle-40131897 ps132\"> - risk adjusted discount rate </span></div><div class=\"ps2449 ss1822\"><span class=\"f charStyle-40131897 ps132\">5.8%.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26260 ss1940\"><div><div class=\"ps10824 ss618\"><span class=\"f charStyle-40131897 ps132\">The estimated fair value </span></div><div class=\"ps2724 ss618\"><span class=\"f charStyle-40131897 ps132\">would increase </span></div><div class=\"ps2725 ss618\"><span class=\"f charStyle-40131897 ps132\">(decrease) if: </span></div><div class=\"ps2726 ss618\"><span class=\"f charStyle-40131897 ps132\"> - the expected </span></div><div class=\"ps2727 ss618\"><span class=\"f charStyle-40131897 ps132\">contractually targeted </span></div><div class=\"ps2728 ss618\"><span class=\"f charStyle-40131897 ps132\">business performance, </span></div><div class=\"ps2729 ss618\"><span class=\"f charStyle-40131897 ps132\">was higher (lower) with </span></div><div class=\"ps26254 ss618\"><span class=\"f charStyle-40131897 ps132\">related impact in </span></div><div class=\"ps26255 ss618\"><span class=\"f charStyle-40131897 ps132\">financial liabilities </span></div><div class=\"ps26256 ss618\"><span class=\"f charStyle-40131897 ps132\">affecting the expected <span class=\"f ps21\"> </span></span></div><div class=\"ps26257 ss618\"><span class=\"f charStyle-40131897 ps132\">cash out value and the </span></div><div class=\"ps26258 ss618\"><span class=\"f charStyle-40131897 ps132\">statement of profit or </span></div><div class=\"ps26259 ss618\"><span class=\"f charStyle-40131897 ps132\">loss.</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">The following table shows a reconciliation from the opening balance to the closing balance of the periods for</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps26263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:79.98pt\">level 3 fair values.</span></div><div class=\"ps26274 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:226.5pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1941\"><div><div class=\"ps979 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss846\"><div><div class=\"ps2776 ss841\"><span class=\"f charStyle-183bdf94 ps2687\">liabilities for contingent considerations, put option and earn-out and <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss841\"><span class=\"f charStyle-183bdf94 ps26265\">derivatives over equity investments and joint-ventures</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">level 3 fair values at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26267 ss842\"><div><div class=\"ps485 ss841\"><span class=\"f charStyle-ba8ac8da ps26266\">164.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">- change in fair value included in profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26269 ss842\"><div><div class=\"ps476 ss841\"><span class=\"f charStyle-183bdf94 ps26268\">(49.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">- change in fair value included in Group net equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26270 ss842\"><div><div class=\"ps476 ss841\"><span class=\"f charStyle-183bdf94 ps26268\">(15.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">- exchange rate effect and other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26271 ss842\"><div><div class=\"ps476 ss841\"><span class=\"f charStyle-183bdf94 ps26268\">(13.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">level 3 fair values at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26273 ss842\"><div><div class=\"ps485 ss841\"><span class=\"f charStyle-ba8ac8da ps26272\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26283 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:261pt\"></td><td style=\"padding:0;width:234.75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1943\"><div><div class=\"ps979 ss1942\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26277 ss1945\"><div><div class=\"ps2776 ss1944\"><span class=\"f charStyle-183bdf94 ps4227\">liabilities for contingent considerations, put option and earn-out and <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1944\"><span class=\"f charStyle-183bdf94 ps26276\">derivatives over equity investments and joint-ventures</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-ba8ac8da ps132\">level 3 fair values at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26279 ss1947\"><div><div class=\"ps485 ss1944\"><span class=\"f charStyle-ba8ac8da ps26278\">231.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-183bdf94 ps132\">- change in fair value included in profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6476 ss1947\"><div><div class=\"ps476 ss1944\"><span class=\"f charStyle-183bdf94 ps26280\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-183bdf94 ps132\">- disposal<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6492 ss1947\"><div><div class=\"ps476 ss1944\"><span class=\"f charStyle-183bdf94 ps653\">(125.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-183bdf94 ps132\">- additions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6507 ss1947\"><div><div class=\"ps476 ss1944\"><span class=\"f charStyle-183bdf94 ps19136\">50.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-183bdf94 ps132\">- exchange rate effect and other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6519 ss1947\"><div><div class=\"ps476 ss1944\"><span class=\"f charStyle-183bdf94 ps26281\">7.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-ba8ac8da ps132\">level 3 fair values at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26282 ss1947\"><div><div class=\"ps485 ss1944\"><span class=\"f charStyle-ba8ac8da ps26278\">164.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">For the level 3 fair value items, reasonably possible changes at the reporting date to one of the significant</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">unobservable inputs, holding other inputs constant, would have been the following effects. The baseline is the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:470.49pt\">contingent consideration recorded as put option liability in the Consolidated Financial statements </span><span class=\"f charStyle-58d8bcbe ps26285\" style=\"width:25.69pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2025</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:2.77pt\">.</span></div><div class=\"ps16923 ss1\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:300.75pt\"></td><td style=\"padding:0;width:97.5pt\"></td><td style=\"padding:0;width:97.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps3073 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26286\">profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26287 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps7014\">group net equity<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps3059 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps6638\">(+) increase/(-) decrease<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24777 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps6638\">(+) increase/(-) decrease<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-ba8ac8da ps132\">liabilities for contingent considerations, put option and earn-out<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">risk adjusted discount rate +/-1% (+/-100 basis points)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps4133 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-40131897 ps26288\">'-/-</span><span class=\"f charStyle-85922b7e ps26289\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26291 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26290\">4.7/-4.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">expected contractually target business performances +/-10% (+/-1000 basis points)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps4148 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-40131897 ps26288\">'-/-</span><span class=\"f charStyle-85922b7e ps26289\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26293 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26292\">-8.6/+8.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26294 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-85922b7e ps579\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\">Non-meaningful figure.</span></div><div class=\"ps26297 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:300.75pt\"></td><td style=\"padding:0;width:97.5pt\"></td><td style=\"padding:0;width:97.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps3073 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26286\">profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26287 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps7014\">group net equity<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps3059 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps6638\">(+) increase/(-) decrease<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24777 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps6638\">(+) increase/(-) decrease<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-ba8ac8da ps132\">liabilities for contingent considerations, put option and earn-out<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">risk adjusted discount rate +/-1% (+/-100 basis points)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps4133 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26290\">1.8/-1.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26291 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26290\">6.9/-7.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">expected contractually target business performances +/-10% (+/-1000 basis points)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps4148 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26292\">-5.0/+5.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26293 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26296\">-11.5/+11.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26299 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">In light of the negligible amount of derivatives over equity investments and joint-ventures classified as level 3 fair</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps26300 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">value items, no sensitivity was detected as any reasonably possible changes at the balance sheet date of one of</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps26301 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">the significant unobservable inputs, keeping the other variables constant, would not have generated material</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps26303 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:321.19pt\">effects either on the statement of profit or loss or on the group net equity.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps26302\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21573 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:90.55pt\">Financial derivatives</span></div><div class=\"ps26307 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:280.69pt\">A summary of financial derivatives implemented by the Group </span><span class=\"f charStyle-58d8bcbe ps26305\" style=\"width:98.22pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26306\" style=\"width:117.26pt\">, broken down by hedging<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26308 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:110.35pt\">strategy, is shown below.<span class=\"f ps21\"> </span></span></div><div class=\"ps26310 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:169.99pt\">Derivatives used for fair value hedging</span><span class=\"f charStyle-58d8bcbe ps26309\" style=\"width:2.77pt\"> </span></div><div class=\"ps26312 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:103.79pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26311\" style=\"width:392.42pt\">, certain Group subsidiaries have contracts for hedging payables and receivables in</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps26313 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">foreign currency in place that meet the requirements to be defined as fair value hedging instruments. These</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps26314 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">contracts were negotiated to match maturities with incoming and outgoing cash flows resulting from sales and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps26315 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:41.13pt\">purchase</span><span class=\"f charStyle-bdf8be45 ps2595\" style=\"width:454.98pt\"><span style=\"background-color:inherit\">s in individual currencies. At the reporting date the valuation of these contracts gave rise to the</span></span><span class=\"f charStyle-bdf8be45 ps63\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26320 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:69.02pt\"><span style=\"background-color:inherit\">reporting of ass</span></span><span class=\"f charStyle-58d8bcbe ps26316\" style=\"width:24.5pt\">ets of</span><span class=\"f charStyle-58d8bcbe ps26317\" style=\"width:178.22pt\"> \u20ac0.6 million and liabilities of \u20ac0.1 million</span><span class=\"f charStyle-58d8bcbe ps26318\" style=\"width:6.17pt\"> (</span><span class=\"f charStyle-bdf8be45 ps26319\" style=\"width:218.28pt\"><span style=\"background-color:inherit\">\u20ac0.9 million of assets and \u20ac4.2 million of liabilities</span></span><span class=\"f charStyle-bdf8be45 ps465\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26322 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:38.89pt\"><span style=\"background-color:inherit\">in 2024).</span></span><span class=\"f charStyle-bdf8be45 ps26321\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26323 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Gains and losses on the hedged and hedging instruments used in all the Group\u2019s fair value hedges,</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps26325 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:216.67pt\">corresponding to the contracts mentioned above,</span><span class=\"f charStyle-bdf8be45 ps26324\" style=\"width:105.55pt\"><span style=\"background-color:inherit\"> are summarised below.</span></span></div><div class=\"ps26338 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:252.75pt\"></td><td style=\"padding:0;width:121.5pt\"></td><td style=\"padding:0;width:121.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8246 ss1040\"><div><div class=\"ps476 ss1039\"><span class=\"f charStyle-183bdf94 ps26327\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26328 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps25460\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9583 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps25460\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18341 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps14653\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9589 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps14653\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Gains on hedging instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26330 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9592 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Losses on hedging instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26332 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26331\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9595 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26333\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-ba8ac8da ps132\">Total gains (losses) on hedging instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26334 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26329\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9599 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26329\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Gains on hedged items<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26335 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9603 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">3.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Losses on hedged items<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26336 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26333\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9607 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26333\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-ba8ac8da ps132\">Total gains (losses) on hedged items<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26337 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26333\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9611 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26329\">2.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26340 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:171.1pt\">Derivatives used for cash flow hedging</span></div><div class=\"ps26341 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:279.93pt\">The Group uses the following contracts to hedge its cash flows:</span></div><div class=\"ps26342 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.03pt\">interest-rate swaps hedging the risk of interest rate fluctuations on future transactions relating to the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps26344 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:124.98pt\">stipulation of financial loans;</span><span class=\"f charStyle-58d8bcbe ps26343\" style=\"width:2.77pt\"> </span></div><div class=\"ps26345 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.93pt\">hedging of future sales and purchases in currencies other than the \u20ac and interest rates on future</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps26346 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:56.66pt\">transactions.</span></div><div class=\"ps26347 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:496.22pt\"><span style=\"background-color:inherit\">The fair value variation of the hedging instruments during the year generated a negative impact in other</span></span><span class=\"f charStyle-bdf8be45 ps74\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:127.81pt\"><span style=\"background-color:inherit\">comprehensive income of \u20ac</span></span><span class=\"f charStyle-bdf8be45 ps26348\" style=\"width:13.89pt\"><span style=\"background-color:inherit\">0.4</span></span><span class=\"f charStyle-bdf8be45 ps26349\" style=\"width:64.46pt\"><span style=\"background-color:inherit\"> million and \u20ac</span></span><span class=\"f charStyle-bdf8be45 ps26350\" style=\"width:13.89pt\"><span style=\"background-color:inherit\">1.8</span><span class=\"f ps21\"> </span></span><span class=\"f charStyle-bdf8be45 ps26351\" style=\"width:276.11pt\"><span style=\"background-color:inherit\"> million in profit or loss related to the reversal of cash flow</span></span><span class=\"f charStyle-bdf8be45 ps70\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26356 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:378.41pt\"><span style=\"background-color:inherit\">reserve associated with the pre-hedge derivative (compared with negative impact of \u20ac</span></span><span class=\"f charStyle-bdf8be45 ps6166\" style=\"width:13.89pt\"><span style=\"background-color:inherit\">2.9</span></span><span class=\"f charStyle-bdf8be45 ps26353\" style=\"width:58.91pt\"><span style=\"background-color:inherit\"> million and \u20ac</span></span><span class=\"f charStyle-bdf8be45 ps26354\" style=\"width:13.89pt\"><span style=\"background-color:inherit\">0.8</span></span><span class=\"f charStyle-bdf8be45 ps26355\" style=\"width:31.11pt\"><span style=\"background-color:inherit\"> million</span><span class=\"f ps21\"> </span></span><span class=\"f charStyle-bdf8be45 ps94\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps21\"> </span></span></div><div class=\"ps26359 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:66.1pt\">respectively in </span><span class=\"f charStyle-58d8bcbe ps19241\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps26357\" style=\"width:6.1pt\">).</span><span class=\"f charStyle-58d8bcbe ps26358\" style=\"width:2.77pt\"> </span></div><div class=\"ps26361 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:419.95pt\">At the reporting date, the valuation of these contracts gave rise to the reporting of assets of</span><span class=\"f charStyle-58d8bcbe ps26360\" style=\"width:65.1pt\"> \u20ac1.0 million a</span><span class=\"f charStyle-58d8bcbe ps22941\" style=\"width:11.12pt\">nd</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps26365 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:339.33pt\">\u20ac1.5 million of liabilities (assets of \u20ac2.5 million and \u20ac2.1 million of liabilities in </span><span class=\"f charStyle-58d8bcbe ps26362\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps26363\" style=\"width:6.1pt\">).</span><span class=\"f charStyle-58d8bcbe ps26364\" style=\"width:2.77pt\"> </span></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:487.85pt\">The following table shows when the aforementioned hedged cash flows are expected to be received (paid), </span><span class=\"f charStyle-58d8bcbe ps26367\" style=\"width:8.33pt\">at</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:89.8pt\">31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26368\" style=\"width:406.42pt\">. These cash flows concern both interest and currency derivatives and have not been</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:54.31pt\">discounted. </span><span class=\"f charStyle-bdf8be45 ps26369\" style=\"width:441.78pt\"><span style=\"background-color:inherit\">Since the Group does not distinguish the outflows for positive and negative fair values of derivative</span></span><span class=\"f charStyle-bdf8be45 ps372\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:236.07pt\"><span style=\"background-color:inherit\">contracts, the below cash outflows are presented net.</span></span></div><div class=\"ps16923 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1956 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:198.75pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8757 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26371\">within one year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26373 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26372\">1-5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26374\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26375 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6310 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps15089 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss556\"><div><div class=\"ps485 ss555\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:55.18pt\">Cash outflows (A)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps26377 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6319 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(1.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23574 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps906 ss556\"><div><div class=\"ps485 ss555\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:50.9pt\">Cash inflows (B)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26378 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6331 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23575 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">7.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-ba8ac8da ps132\">Net cash flows (A+B)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26379 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps26376\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6346 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">6.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23576 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps21570 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:198pt\"></td><td style=\"padding:0;width:99.75pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1343\"><div><div class=\"ps485 ss504\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8654 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps26380\">within one year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26373 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26372\">1-5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26374\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps15942 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6310 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps15089 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:1pt solid #000000;padding:0\"><div class=\"ps1105 ss1343\"><div><div class=\"ps485 ss504\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:55.18pt\">Cash outflows (A)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4509 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6319 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23574 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(5.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1343\"><div><div class=\"ps485 ss504\"><span class=\"f charStyle-183bdf94 ps132\">Cash inflows (B)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4523 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6331 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">10.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23575 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">10.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1343\"><div><div class=\"ps485 ss504\"><span class=\"f charStyle-ba8ac8da ps132\">Net cash flows<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4535 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-ba8ac8da ps21891\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6346 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">6.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23576 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26382 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:461.66pt\">The overall changes in the cash flow hedge reserve and the associated deferred taxes are shown below.</span></div><div class=\"ps26388 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:198.75pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8757 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26384\">gross amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26373 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26385\">tax effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps23758\">net amount<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26375 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6310 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps15089 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26377 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">8.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6319 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23574 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">6.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">profit or loss impact<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26378 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6331 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23575 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">net equity impact<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26379 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6346 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23561\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23576 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss556\"><div><div class=\"ps476 ss555\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26386 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26387 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps26376\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23577 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">4.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26390 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:198.75pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8757 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26384\">gross amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26373 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26385\">tax effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps23758\">net amount<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26375 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6310 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps15089 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26377 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">12.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6319 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23574 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">9.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">profit or loss impact<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26378 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6331 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23575 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">net equity impact<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26379 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6346 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23576 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(2.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss556\"><div><div class=\"ps476 ss555\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26386 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">8.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26387 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23577 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">6.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15452 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:252.81pt\">Hedging derivatives not reported using hedge accounting</span></div><div class=\"ps9895 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:470.68pt\">These instruments are mainly related to hedges of future purchases in currencies other than the \u20ac. </span><span class=\"f charStyle-58d8bcbe ps26391\" style=\"width:25.45pt\">At 31</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps15455 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:72.28pt\">December 2025</span><span class=\"f charStyle-58d8bcbe ps26392\" style=\"width:97.9pt\">, financial assets of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26393\" style=\"width:13.89pt\">1.3</span><span class=\"f charStyle-58d8bcbe ps26394\" style=\"width:151.3pt\"> million and financial liabilities of </span><span class=\"f charStyle-58d8bcbe ps26395\" style=\"width:5.56pt\">\u20ac</span><span class=\"f charStyle-58d8bcbe ps26396\" style=\"width:13.89pt\">0.3</span><span class=\"f charStyle-58d8bcbe ps26397\" style=\"width:26.69pt\"> millio</span><span class=\"f charStyle-58d8bcbe ps26398\" style=\"width:91.23pt\">n were recognised (</span><span class=\"f charStyle-58d8bcbe ps26399\" style=\"width:23.37pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps3764 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2024</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:90.53pt\"> financial assets of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26400\" style=\"width:13.89pt\">0.4</span><span class=\"f charStyle-58d8bcbe ps26401\" style=\"width:149.96pt\"> million and financial liabilities of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26402\" style=\"width:13.89pt\">1.5</span><span class=\"f charStyle-58d8bcbe ps26403\" style=\"width:95.52pt\"> million, respectively).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-522": {
   "value": "<div class=\"ps23187 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Financial Instruments<span id=\"i585595ab01564dbda09828ceb16b4959\"></span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Financial assets also include investments in companies that are not held for trading. These assets are strategic</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">investments, and the Group has decided to recognise changes in the related fair values through profit or loss</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:44.4pt\">(\u2018FVTPL\u2019).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-539": {
   "value": "<div class=\"ps23556 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Non-Current Financial Debt<span id=\"ie3c881f528ae489cbb051317e709abc7\"></span></span></div><div class=\"ps13787 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> </span></div><div class=\"ps23578 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:294.75pt\"></td><td style=\"padding:0;width:102pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7278 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps23571\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23572\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21632\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps15089 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7288 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">548.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23574 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">548.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21846 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">299.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23575 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">298.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21848 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">742.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23576 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">733.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:241.39pt\">Non-current liabilities for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21851 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21647\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23577 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23561\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Non-current bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21852 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps23557\">1,590.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23558 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps21315\">1,580.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:61.05pt\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21853 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21635\">627.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23559 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">916.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:235.2pt\">Non-current assets for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21855 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps23560\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23562 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23561\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6293 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:241.39pt\">Non-current liabilities for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21857 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21647\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23563 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23561\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6297 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:65.65pt\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21859 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">627.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23564 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">916.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21861 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">52.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23565 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">58.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps5134 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-183bdf94 ps132\">Liabilities for put option and earn-out payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21863 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-183bdf94 ps21640\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23566 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps11761\">164.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps9630 ss1694\"><div><div class=\"ps476 ss1693\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:241.39pt\">Non-current liabilities for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21865 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps21697\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23568 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Other non-current financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21867 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps21635\">138.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23569 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps11761\">223.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1694\"><div><div class=\"ps476 ss1693\"><span class=\"f charStyle-ba8ac8da ps132\">Total non-current financial debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps21869 ss1687\"><div><div class=\"ps476 ss1327\"><span class=\"f charStyle-ba8ac8da ps23557\">2,356.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23570 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps21315\">2,720.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11444 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">The main financial liabilities and the main changes that occurred in the composition of financial liabilities during</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps11446 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:102.75pt\">the year are as follows.</span></div><div class=\"ps23581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:31.16pt\">Bonds<span id=\"ia92728a23ff440a58a2e6296117620da\"></span></span><span class=\"f charStyle-562c451e ps23580\" style=\"width:3.05pt\"> </span></div><div class=\"ps23583 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:98.93pt\">At 31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps23582\" style=\"width:397.18pt\">, the Bonds item included the following issues placed by the Parent Company, which are</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23584 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:90pt\">fully \u20ac-denominated.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:187.5pt\"></td><td style=\"padding:0;width:102.75pt\"></td><td style=\"padding:0;width:102.75pt\"></td><td style=\"padding:0;width:102.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7930 ss1783\"><div><div class=\"ps476 ss1782\"><span class=\"f charStyle-183bdf94 ps23585\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22183 ss1785\"><div><div class=\"ps2415 ss1784\"><span class=\"f charStyle-183bdf94 ps6353\">original nominal value<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23587 ss1786\"><div><div class=\"ps2415 ss1784\"><span class=\"f charStyle-183bdf94 ps23586\">maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7282 ss1786\"><div><div class=\"ps2415 ss1784\"><span class=\"f charStyle-183bdf94 ps23588\">coupon rate fixed<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22192 ss1785\"><div><div class=\"ps2415 ss1784\"><span class=\"f charStyle-183bdf94 ps23589\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23590 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps15281\">550.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23592 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps23591\">6/10/2027<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23595 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23593\"></span><span class=\"ps23593\">1.250<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps23594\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16509 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps15281\">300.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23596 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps23591\">18/5/2030<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23597 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23593\"></span><span class=\"ps23593\">4.710<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps23594\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Bond issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps7973 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps15281\">550.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23598 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps23591\">17/1/2029<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23599 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23593\"></span><span class=\"ps23593\">2.375<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps23594\">%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-40131897 ps132\">Bond issued in 2024</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps16541 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps15281\">220.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23600 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94 ps23591\">25/6/2031<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23601 ss1785\"><div><div class=\"ps476 ss1784\"><span class=\"f charStyle-183bdf94\"><span class=\"ps23593\"></span><span class=\"ps23593\">4.256<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span><span class=\"ps23594\">%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps22957 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:20.53pt\"><span style=\"background-color:inherit\">The </span></span><span class=\"f charStyle-58d8bcbe ps23602\" style=\"width:134.39pt\">changes that occurred during </span><span class=\"f charStyle-58d8bcbe ps23603\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps23604\" style=\"width:318.99pt\"> were mainly related to the effects of the amortised cost on non-current</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps22958 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:30.01pt\">bonds </span><span class=\"f charStyle-58d8bcbe ps2309\" style=\"width:59.98pt\">(\u20ac9.4 million).</span></div><div class=\"ps22960 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">With reference to the senior unsecured bonds issued in 2024 that are convertible into new and/or existing</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps15150 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">ordinary shares of Davide Campari-Milano N.V. due in 2029, the carrying amount of the host liability is</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps23605 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:95.55pt\">composed as follows.</span></div><div class=\"ps23619 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:444pt\"></td><td style=\"padding:0;width:51.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23608 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94 ps23607\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-183bdf94 ps132\">Proceeds for issue of convertible bond<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23609 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94 ps12899\">550.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-183bdf94 ps132\">Transaction costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23611 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:33.99pt\"></span></span><span class=\"ps23610\">(5.8)</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-4b81288d ps132\">Net proceeds in 2024</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23612 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-ba8ac8da ps12899\">544.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-183bdf94 ps132\">Conversion options classified as equity net of transaction costs of \u20ac0.4 million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23614 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:30.1pt\"></span></span><span class=\"ps23613\">(37.2)</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-183bdf94 ps132\">Amortising cost for the year 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23615 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94 ps16519\">7.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-ba8ac8da ps132\">Carrying amount of host liability at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23616 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-ba8ac8da ps12899\">514.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4962 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-40131897 ps132\">Amortising cost for the year 2025</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23617 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-183bdf94 ps16519\">8.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4965 ss1788\"><div><div class=\"ps476 ss1787\"><span class=\"f charStyle-4b81288d ps132\">Carrying amount of host liability at 31 December 2025</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23618 ss259\"><div><div class=\"ps476 ss254\"><span class=\"f charStyle-ba8ac8da ps12899\">522.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps14457 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The conversion option was classified as an equity component since the conversion and will result in a fixed</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps23620 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">number of notes, that is the outstanding principal amount of the notes, exchanged for a fixed number of ordinary</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps3008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">shares (i.e., since the \u2018fixed-for-fixed\u2019 requirement for the relevant accounting principle was met). The</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17870 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">aforementioned equity component was estimated as the difference between the fair value of the convertible</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17871 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:288.11pt\">bond as a whole and the fair value of the liability component only.</span><span class=\"f charStyle-58d8bcbe ps23621\" style=\"width:2.77pt\"> </span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vi.\u00a0  Current Financial Debt<span id=\"i6f9db66bdc9c47dda8c6a00fe6a097d8\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps23837 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:333pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:79.5pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7506 ss998\"><div><div class=\"ps473 ss288\"><span class=\"f charStyle-183bdf94 ps5366\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20855 ss1820\"><div><div class=\"ps473 ss1623\"><span class=\"f charStyle-183bdf94 ps22963\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23820 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23819\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16081 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps23821\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1126 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-ba8ac8da ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23822 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps19872\">272.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps16091 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-ba8ac8da ps20464\">289.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps490 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Accrued interest on bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23824 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23823\">21.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16099 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps23825\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Lease payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23826 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23823\">19.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16106 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps23825\">18.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Liabilities for put option and earn-out payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23828 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16114 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps20482\">3.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps1043 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedging derivatives reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps7998 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23829 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps20482\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps4628 ss1821\"><div><div class=\"ps485 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedging derivatives not reported using hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps23830 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23831 ss1627\"><div><div class=\"ps485 ss1623\"><span class=\"f charStyle-183bdf94 ps20482\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6894 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-183bdf94 ps132\">Other financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23832 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23823\">25.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps20908 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-183bdf94 ps20482\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5271 ss1821\"><div><div class=\"ps476 ss1819\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:106.83pt\">Other current financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23833 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23823\">69.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23834 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-ba8ac8da ps23825\">52.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6904 ss1821\"><div><div class=\"ps476 ss1819\"><span class=\"f charStyle-ba8ac8da ps132\">Current financial debt<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23835 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps19872\">341.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23836 ss1627\"><div><div class=\"ps476 ss1623\"><span class=\"f charStyle-ba8ac8da ps20464\">341.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps23839 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">The main financial liabilities and the main changes that occurred in the composition of financial liabilities during</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps23840 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:102.75pt\">the year are as follows.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-540": {
   "value": "<div class=\"ps23881 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Lease Components in the Statement of Financial Position<span id=\"i04d5a7a1a17f4f86bd78ec08746568e1\"></span></span></div><div class=\"ps23883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps23884 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The Group has various agreements in place for the use of offices, vehicles, machinery, shops and other minor</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps23885 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">assets belonging to third parties. Each agreement is subject to a detailed analysis to define whether or not a</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps23886 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">right of use/financial liability has to be recognised. Variable lease payments that are not linked to an index or</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps23887 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:368.22pt\">rate continue to be charged to the statement of profit or loss as costs for the period.</span></div><div class=\"ps23888 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Lease agreements are generally entered into for a term of 3-10 years but may contain options to extend them.</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.59pt\"> </span></div><div class=\"ps23889 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">The terms of a lease are negotiated individually and may contain a wide range of different terms and conditions.</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps23890 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">Such agreements do not include covenants, but the leased assets may be used to guarantee the liability arising<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps23891 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:136.62pt\">from contractual commitments.<span class=\"f ps21\"> </span></span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">The value assigned to the right of use corresponds to the amount of the lease liabilities recognised, plus initial</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">direct costs incurred, lease payments settled on the start date of the agreement or previously and restoration</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">costs, net of any lease incentives received. Restoration costs, which may be recognised in rare cases, normally</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">relate to offices, for which there could be a contractual requirement to restore them to their original state at the</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">end of the lease agreement. The Group estimates the restoration obligation based on the agreement with the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">lessor, or by using expert valuations of third parties. The value of the liability, discounted to present value, as</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">determined above, increases the right of use of the underlying asset and a dedicated provision is created to</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:27.02pt\">offset.</span><span class=\"f charStyle-2293a859 ps23892\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">The discount rate used to measure the financial liability is the incremental borrowing rate (\u2018IBR\u2019) when the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">implicit interest rate in the lease agreement cannot be easily determined (explicit interest rates in lease</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">agreements are rare). The incremental borrowing rates used to evaluate leasing contracts are determined by</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">the Group and are revised on a recurring basis; they are applied to all agreements with similar characteristics,</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">which are treated as a single portfolio of agreements. The rates are determined using the average effective debt</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">rate of the subsidiary, appropriately adjusted and the most important elements considered in adjusting the rate</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">are the credit-risk spread of each country observable on the market and the different durations of the lease</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:55.56pt\">agreements.<span class=\"f ps21\"> </span></span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">The term of the lease is calculated considering the non-cancellable period of the lease together with a) the</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">periods covered by an option to extend the agreement, if it is reasonably certain that it will be exercised, or b)</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">any period covered by an option to terminate the lease contract, if it is reasonably certain that it will not be</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">exercised. The Group assesses whether it is reasonably certain that any exercising of such options to extend or</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">to terminate the agreements will take place, considering all the relevant factors that create a financial incentive</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:82.77pt\">for such decisions.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-541": {
   "value": "<div class=\"ps24331 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Capital management<span id=\"i43c75f4946e3423b8d2f15f04bcb867b\"></span></span></div><div class=\"ps24333 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span><span class=\"f charStyle-a745408e ps22441\" style=\"width:2.77pt\"> </span></div><div class=\"ps24334 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">With regard to capital management, Campari Group has implemented a dividend distribution policy which</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps24335 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">reflects the Group priority to use its available financial sources mainly to fund external growth via acquisitions.</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps6228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">Concomitantly, via the Parent Company Davide Campari-Milano N.V., the Group carries out share buyback<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1289 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">programs on a rolling basis intended to meet the obligations arising from share-based payment plans currently</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps17867 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">in force or to be adopted. The financial requirements deriving from the aforementioned capital management</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17868 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">operations are managed dynamically, maintaining an appropriate level of flexibility with regard to acquisition</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps15238 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">opportunities, also taking into account the optimal and sustainable level of financial solidity which is monitored</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps14457 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:313.72pt\">on an ongoing basis through the index net debt on EBITDA-adjusted. </span><span class=\"f charStyle-58d8bcbe ps6757\" style=\"width:182.47pt\">The Group's debt management objective</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">is based on the achievement of an optimal and sustainable level of financial solidity while maintaining an<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24337 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:263.85pt\">appropriate level of flexibility with regard to funding options.</span><span class=\"f charStyle-58d8bcbe ps24336\" style=\"width:232.24pt\"> The Group monitors changes in this measure on an</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps24338 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">ongoing basis. For the purposes of the ratio calculation, net debt (refer to note 6 viii-\u2018Reconciliation with net<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3974 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:393.48pt\">financial debt and cash flow statement\u2019) is the value of the Group\u2019s net financial debt </span><span class=\"f charStyle-58d8bcbe ps24339\" style=\"width:99.87pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps24340\" style=\"width:2.77pt\">,</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps2096 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">whereas the EBITDA-adjusted relates to the Operating result excluding depreciation and amortisation excluding</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24341 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">the separately highlighted components that may be considered non-representative of the current operating</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1722 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">results (refer to note 3 vi-\u2018Selling, general and administrative expenses\u2019 and note 3 viii-\u2018Depreciation and</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps24343 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:424.96pt\">amortisation\u2019) calculated based on the reported value at the closing date of the reference period.</span><span class=\"f charStyle-58d8bcbe ps24342\" style=\"width:2.77pt\"> </span></div><div class=\"ps24349 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:104.54pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps24344\" style=\"width:68.39pt\">, this multiple </span><span class=\"f charStyle-58d8bcbe ps24345\" style=\"width:194.79pt\">was 2.5 times, compared with 3.2 times </span><span class=\"f charStyle-58d8bcbe ps24346\" style=\"width:103.44pt\">at 31 December 2024</span><span class=\"f charStyle-58d8bcbe ps24347\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-58d8bcbe ps24348\" style=\"width:22.25pt\"> The</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:134.42pt\">decrease in the ratio reflected </span><span class=\"f charStyle-58d8bcbe ps24350\" style=\"width:278.35pt\">strong business momentum and disciplined financial approach.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-543": {
   "value": "<div class=\"ps24364 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Nature and Extent of the Risks Arising from Financial Instruments<span id=\"i266b5b9b505e4b3b83e47d24ed3989ab\"></span></span></div><div class=\"ps24489 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:78.77pt\">Interest rate risk<span id=\"i28e4fa2d16664785b118899e8eadc57c\"></span></span></div><div class=\"ps17527 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:496.1pt\"><span style=\"background-color:inherit\">A breakdown of the effective interest rate, taking all the cost components of the amortised costs into account,</span></span><span class=\"f charStyle-bdf8be45 ps413\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps24490 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:209.38pt\"><span style=\"background-color:inherit\">divided by type of financial liability is as follows.</span><span class=\"f ps21\"> </span></span></div><div class=\"ps24529 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:110.25pt\"></td><td style=\"padding:0;width:126pt\"></td><td style=\"padding:0;width:109.5pt\"></td><td style=\"padding:0;width:49.5pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23520 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps24492\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24494 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24493\">nominal interest rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24497 ss1855\"><div><div class=\"ps476 ss40\"><span class=\"f charStyle-40131897 ps24495\">effective interest rate</span><span class=\"f charStyle-85922b7e ps24496\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps901 ss359\"><div><div class=\"ps476 ss358\"><span class=\"f charStyle-183bdf94 ps24498\">maturity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps24499\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24500 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps24499\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps904 ss359\"><div><div class=\"ps476 ss358\"><span class=\"f charStyle-183bdf94 ps7943\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps4032\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24501 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps4032\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-40131897 ps132\">Loans due to banks</span><span class=\"f charStyle-85922b7e ps23262\"><sup>(2)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24502 ss322\"><div><div class=\"ps2415 ss299\"><span class=\"f charStyle-183bdf94 ps23043\">variable rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24504 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24503\"></span><span class=\"ps24503\">3.99</span><span class=\"ps1654\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps911 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps9106\">2028<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">899.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24505 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps8157\">1,205.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Parent Company bond issues<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">- issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24507 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps24506\">fixed rate 1.250%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24508 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24503\"></span><span class=\"ps24503\">1.42</span><span class=\"ps1654\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps922 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps9106\">2027<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21307 ss183\"><div><div class=\"ps485 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">548.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24509 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">548.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">- issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24510 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps24506\">fixed rate 4.710%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24511 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24503\"></span><span class=\"ps24503\">4.78</span><span class=\"ps1654\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24512 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps9106\">2030<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21309 ss183\"><div><div class=\"ps485 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">299.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24513 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">298.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1369\"><div><div class=\"ps476 ss1368\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:49.37pt\">- issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24514 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps24506\">fixed rate 2.375%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24515 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24503\"></span><span class=\"ps24503\">3.87</span><span class=\"ps1654\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24516 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps9106\">2029<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21854 ss183\"><div><div class=\"ps485 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">522.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24517 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">514.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1369\"><div><div class=\"ps476 ss1368\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:49.37pt\">- issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24518 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps24506\">fixed rate 4.256%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24519 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24503\"></span><span class=\"ps24503\">4.33</span><span class=\"ps1654\">%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24520 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps9106\">2031<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps21856 ss183\"><div><div class=\"ps485 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">219.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24521 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20946\">219.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24523 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps24522\">incremental borrowing rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24525 ss1855\"><div><div class=\"ps485 ss40\"><span class=\"f charStyle-183bdf94 ps24524\">incremental borrowing rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24527 ss359\"><div><div class=\"ps485 ss358\"><span class=\"f charStyle-183bdf94 ps24526\">2027-2032<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21858 ss183\"><div><div class=\"ps485 ss182\"><span class=\"f charStyle-183bdf94 ps20902\">71.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24528 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps20902\">77.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24530 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:366.32pt\">Calculated on any difference included in the amortised cost accounting and excluding the effect of hedging derivatives.</span></div><div class=\"ps24533 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.19pt\"><span class=\"f ps21\"> </span><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps24531\" style=\"width:348.47pt\">The figure shown relates to the applied rate and maturity of the loans due to banks by Davide Campari Milano </span><span class=\"f charStyle-40131897 ps24532\" style=\"width:12.95pt\">N.V.</span><span class=\"f charStyle-40131897 ps22911\" style=\"width:127.45pt\"> and Campari America, LLC, responsible</span><span class=\"f charStyle-40131897 ps389\" style=\"width:1.94pt\"> </span></div><div class=\"ps24534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:88.22pt\">for nearly all market funding.<span class=\"f ps21\"> </span></span></div><div class=\"ps22070 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">The Group is exposed to the risk of fluctuating interest rates in respect of its financial assets, loans due to banks</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps22071 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">and lease agreements. Derivative contracts intended to hedge interest rate exposures connected with financing<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">are not subject to established quantitative policies concerning the optimal level of exposure to fixed or variable</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">rates: the Group manages its interest rate risk by having a balanced portfolio of fixed and variable rate loans</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">and borrowings. The preferred exposure to fixed or variable rates is dynamically managed centrally within the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">Group, considering current and future market conditions, the Group's level of indebtedness, business</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:297.97pt\">performance and in the context of the Group's expansion initiatives.</span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:171.26pt\"><span style=\"background-color:inherit\">The Parent Company\u2019s 2020, 2023 an</span></span><span class=\"f charStyle-58d8bcbe ps24535\" style=\"width:252.77pt\">d 2024 bond issues pay interest at a fixed rate. Overall, </span><span class=\"f charStyle-58d8bcbe ps24536\" style=\"width:72.13pt\">at 31 December</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps4079\" style=\"width:460.06pt\">, the nominal exposure of the Group\u2019s total financial debt was 34% (39% in 2024) at variable-rate, while </span><span class=\"f charStyle-58d8bcbe ps24537\" style=\"width:13.89pt\">the</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:479.79pt\">effective exposure, including the applicable hedging derivatives, stood at 21% at variable rate (27% in 2024).</span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9d8f533c ps56\" style=\"width:83.87pt\">Sensitivity analysis</span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The table below shows the effects of a possible change in interest rates on the Group\u2019s statement of profit or</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">loss, if all other variables remain constant. A negative value in the table indicates a potential net reduction in</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">profit or loss, while a positive value indicates a potential net increase in this item. The assumptions used with</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:424.96pt\">regard to a potential change in rates are based on an analysis of the trend on the reporting date.</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">With regard to the fixed-rate financial liabilities hedged by interest-rate swaps, the change in the hedging</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">instrument offsets the difference in the underlying liability, with practically no effect on the statement of profit or</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:17.78pt\">loss<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps24538\" style=\"width:2.77pt\">.</span></div><div class=\"ps14124 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:165pt\"></td><td style=\"padding:0;width:104.25pt\"></td><td style=\"padding:0;width:126pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss842\"><div><div class=\"ps476 ss841\"><span class=\"f charStyle-183bdf94 ps132\">profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1084 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-183bdf94 ps132\">increase/decrease<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss322\"><div><div class=\"ps2415 ss299\"><span class=\"f charStyle-183bdf94 ps132\">increase in interest rates<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps2415 ss1000\"><span class=\"f charStyle-183bdf94 ps132\">decrease in interest rates<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss51\"><div><div class=\"ps476 ss50\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1107 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-183bdf94 ps132\">in interest rates in basis point<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22767 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24539 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps6275\">+/- 5 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22770 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24540\">(0.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24541 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps4783\">+30/-10 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22772 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24540\">(0.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">Other currencies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24542 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps20926\">+/- 10 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22774 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24543\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-ba8ac8da ps132\">Total effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22788 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-ba8ac8da ps24540\">(1.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss51\"><div><div class=\"ps476 ss50\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22791 ss322\"><div><div class=\"ps485 ss299\"><span class=\"f charStyle-ba8ac8da ps24544\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21854 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24545 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps6275\">+/- 5 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22793 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24540\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21856 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24546 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps4783\">+30/-10 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22802 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24540\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21858 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-183bdf94 ps132\">Other currencies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24547 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps20926\">+/- 10 basis points<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22804 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps24543\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21860 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6300 ss51\"><div><div class=\"ps485 ss50\"><span class=\"f charStyle-ba8ac8da ps132\">Total effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24548 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-ba8ac8da ps24540\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21862 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24549 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:91.01pt\">Exchange rate risk<span id=\"ie0ee63bce7b140bdaf40a402de335ff2\"></span></span></div><div class=\"ps9930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">The Group develops its business activities globally, and sales in non-\u20ac markets are progressively increasing.</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps9931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">However, the establishment of Group companies in countries including the United States, Australia and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps9933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Switzerland allows exchange rate risk to be partly hedged, since both costs and income are denominated in the</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps9934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:76.7pt\">same currency. </span><span class=\"f charStyle-58d8bcbe ps24550\" style=\"width:419.44pt\">For Campari Group, net exposure to foreign exchange effects is limited to transactions</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">concluded among Group companies relating to certain sales regulated in currencies other than the functional<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1219 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">currencies of the companies. Although these transactions represent only a portion of the overall business, the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1220 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">Group policy regularly determines the net exposure to the primary currencies, to mitigate the residual foreign</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1221 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">exchange risk by using forward and option derivatives agreements. Derivative contracts aiming to mitigate</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1222 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">currency exchange risks are dynamically and qualitatively managed based on business needs and specific</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">contexts and circumstances. These are not framed within fixed or quantitative policies regarding the percentage</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">of coverage to be achieved. To avoid excessive coverage, the budget for future transactions is typically hedged</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:266.11pt\">at a level between 50% and 90% throughout the whole year.</span></div><div class=\"ps1229 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9d8f533c ps56\" style=\"width:83.87pt\">Sensitivity analysis</span></div><div class=\"ps1233 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">An analysis was performed on the effects of a possible change in the exchange rates against the \u20ac on the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps1559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">statement of profit or loss, keeping all the other variables constant. This analysis does not include the</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps1560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Consolidated Financial statements\u2019 effect on translating the financial statements of subsidiaries denominated in</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">a foreign currency following a possible change in exchange rates. The assumptions adopted regarding a</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">potential change in rates are based on an analysis of forecasts provided by financial information agencies on</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps9937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">the reporting date. The types of transactions included in this analysis are sales and purchases in any currency</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9938 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">other than the Group\u2019s functional currency. The effects on shareholders\u2019 equity are determined by changes in</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps9939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:415.47pt\">the fair value of forward contracts on future transactions, which are used as cash flow hedges.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:179.25pt\"></td><td style=\"padding:0;width:115.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td><td style=\"padding:0;width:100.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7278 ss832\"><div><div class=\"ps476 ss831\"><span class=\"f charStyle-183bdf94 ps24551\">net equity<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps9539 ss275\"><div><div class=\"ps485 ss268\"><span class=\"f charStyle-183bdf94 ps132\">increase/decrease<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21786 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps132\">increase in exchange rates<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21296 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps132\">decrease in exchange rates<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss575\"><div><div class=\"ps476 ss574\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps24552 ss275\"><div><div class=\"ps485 ss268\"><span class=\"f charStyle-ba8ac8da ps132\">in currency rates in %<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps7288 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21300 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps906 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps24554 ss275\"><div><div class=\"ps476 ss268\"><span class=\"f charStyle-183bdf94 ps24553\">+1%/-14%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21846 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps21302 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-183bdf94 ps132\">Other currencies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24556 ss275\"><div><div class=\"ps476 ss268\"><span class=\"f charStyle-183bdf94 ps24555\">+11%/-1%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21848 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21304 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-ba8ac8da ps132\">Total effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21851 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">5.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21307 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21849\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss575\"><div><div class=\"ps476 ss574\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21852 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21309 ss1030\"><div><div class=\"ps485 ss1000\"><span class=\"f charStyle-ba8ac8da ps21850\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-183bdf94 ps132\">US$<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24558 ss275\"><div><div class=\"ps476 ss268\"><span class=\"f charStyle-183bdf94 ps24557\">+8%/-1%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21853 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21854 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(9.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-183bdf94 ps132\">Other currencies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21855 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21792\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps21856 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-183bdf94 ps21849\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss575\"><div><div class=\"ps485 ss574\"><span class=\"f charStyle-ba8ac8da ps132\">Total effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21857 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21792\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21858 ss1030\"><div><div class=\"ps476 ss1000\"><span class=\"f charStyle-ba8ac8da ps21849\">(9.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:101.99pt\">Market and price risk<span id=\"i35ca45e241024aaabb635a480e68c928\"></span></span></div><div class=\"ps24560 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Market risk consists of the possibility that changes in exchange rates, interest rates, or the prices of raw</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps24561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">materials or commodities (alcohol, aromatic herbs, sugar, cereals and agave) could negatively affect the value</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:190.5pt\">of assets, liabilities or expected cash flows.</span></div><div class=\"ps24563 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">The price of raw materials depends on a wide variety of factors, which are difficult to forecast and are largely</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps24564 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">beyond the Group\u2019s control. Historically, the Group has had no problem obtaining high-quality quantities of raw</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24565 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">materials. However, it cannot be excluded that the Group could face challenges in getting supplies of raw</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24566 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">materials. The Group is constantly implementing measures aimed at limiting the risk of raw material price</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps24567 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">fluctuations, including co-investments and agricultural production agreements with local producers, the benefits</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24568 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">of which can be seen over the medium-term as they are related to natural growing processes. Moreover, the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24569 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">Group monitors the relationship with key suppliers on an ongoing basis, and specific projects are developed to</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps24571 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:166.66pt\">foster responsible business practices.</span><span class=\"f charStyle-58d8bcbe ps24570\" style=\"width:2.77pt\"> </span></div><div class=\"ps24572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">Campari Group has a substantial inventory of aged product categories, such as Bourbon whiskey, Scotch</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps24573 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">whisky, Canadian whisky, rum, cognac and tequila, which mature over lengthy periods. While the maturing</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps24574 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">inventory is stored at numerous locations around the world, the loss, as a result of contamination, fire or other</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps24575 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">natural disaster, or destruction resulting from negligence or the acts of third parties or otherwise, of all or a</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps18871 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">portion of the inventory of any one of those aged product categories may not be replaceable and, consequently,</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24576 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">may lead to a substantial decrease in the supply of those products. Additionally, the judgemental nature of</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24577 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">determining how much of the Group\u2019s aged products to lay down in any given year for future consumption</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps24578 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">involves an inherent risk of forecasting error. Finally, price is another critical element, as the recoverability of the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24579 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">cost incurred in the maturing process is subject to the Group's ability to select an adequate range of premium</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24580 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">products capable of satisfying the needs of demanding customers while the loss of sales and market shares</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">lead to future excess inventory and decreased profit margin. The Group regularly reviews its marketing and</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24582 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:392.71pt\">production strategy to mitigate those risks enabling long-term forecasting analytical tools.</span></div><div class=\"ps24583 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">In line with its decarbonisation strategy and with the goal of contributing to the achievement of its 2030 emission</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps4565 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">reduction targets, the Group signed its first multi-year contract for the purchase of electric energy from wind</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24584 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">renewable sources (i.e., Off-site Power Purchase Agreement, \u2018PPA\u2019), active from 1 January 2024, for the next 5</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps3022 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">years. The scope of the agreement is the Italian perimeter (all plants and headquarters are included), allowing to</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24585 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">cover about 30% of the Campari Group\u2019s electricity needs in the country. With this agreement, the Group will</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps24586 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">support the renewable producer in contributing to the construction of new generators, specifically wind farms in</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:447.45pt\">Italy. It will receive from the seller the amount of Guarantee of Origin related to the energy purchased.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-542": {
   "value": "<div class=\"ps24364 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Nature and Extent of the Risks Arising from Financial Instruments<span id=\"i266b5b9b505e4b3b83e47d24ed3989ab\"></span></span></div><div class=\"ps24374 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:60.46pt\">Liquidity risk<span id=\"i31545b239eba47ff963738e7c3981a10\"></span></span></div><div class=\"ps24375 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">The Group\u2019s ability to generate substantial cash flow through its operations minimises liquidity risk. This risk is</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps24376 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:356.79pt\">defined as the difficulty in raising funds to cover the Group\u2019s financial obligations.<span class=\"f ps21\"> </span></span></div><div class=\"ps24379 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:227.48pt\">The table below summarises financial liabilities </span><span class=\"f charStyle-58d8bcbe ps24377\" style=\"width:104.88pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps24378\" style=\"width:163.83pt\"> by maturity, based on contractual</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps4475 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:252.23pt\">repayment obligations, including non-discounted interest.</span></div><div class=\"ps24431 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:176.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1850\"><div><div class=\"ps979 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24380 ss445\"><div><div class=\"ps979 ss433\"><span class=\"f charStyle-183bdf94 ps20436\">on demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps983 ss445\"><div><div class=\"ps979 ss433\"><span class=\"f charStyle-183bdf94 ps5323\">within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24382 ss445\"><div><div class=\"ps2776 ss433\"><span class=\"f charStyle-183bdf94 ps20225\">due in 1 to 2 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss433\"><span class=\"f charStyle-183bdf94 ps24381\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12889 ss445\"><div><div class=\"ps2776 ss433\"><span class=\"f charStyle-183bdf94 ps20225\">due in 3 to 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss433\"><span class=\"f charStyle-183bdf94 ps24381\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24384 ss445\"><div><div class=\"ps2776 ss433\"><span class=\"f charStyle-183bdf94 ps24383\">due after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss433\"><span class=\"f charStyle-183bdf94 ps24381\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18813 ss445\"><div><div class=\"ps979 ss433\"><span class=\"f charStyle-183bdf94 ps24385\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24386 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps991 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24387 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24388 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24389 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24390 ss434\"><div><div class=\"ps485 ss433\"><span class=\"f charStyle-183bdf94 ps7292\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24391 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1002 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">42.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24392 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">592.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6478 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">944.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24393 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">208.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24394 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps8160\">1,788.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss1851\"><div><div class=\"ps476 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24395 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps1014 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">245.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24396 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">234.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6497 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">445.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24397 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24398 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">924.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24399 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps1024 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">22.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24400 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">18.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6510 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">30.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24402 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps24401\">11.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24403 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">81.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Payables for put option and earn-out<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24404 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps1033 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7309\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24405 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7309\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6521 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">49.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24407 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps24406\">114.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24408 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">168.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Other financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24409 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps1047 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">158.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24410 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24411 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24412 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24413 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">158.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Trade payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps24414 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">179.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps5538 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">525.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps24415 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7309\">6.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps24416 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7309\">2.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps24417 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps24418 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">714.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-183bdf94 ps132\">Other non-financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24419 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7345\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24420 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">205.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24421 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24422 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps7309\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24423 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24424 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps16687\">227.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1851\"><div><div class=\"ps485 ss1849\"><span class=\"f charStyle-ba8ac8da ps132\">Total liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24425 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps16687\">201.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24426 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps8160\">1,203.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24427 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps16687\">852.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24428 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps8160\">1,472.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24429 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps16687\">335.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24430 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-ba8ac8da ps8160\">4,064.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24480 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:182.25pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:52.5pt\"></td><td style=\"padding:0;width:51pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1853\"><div><div class=\"ps979 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24433 ss984\"><div><div class=\"ps979 ss452\"><span class=\"f charStyle-183bdf94 ps20562\">on demand<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24203 ss984\"><div><div class=\"ps979 ss452\"><span class=\"f charStyle-183bdf94 ps12118\">within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14913 ss984\"><div><div class=\"ps2776 ss452\"><span class=\"f charStyle-183bdf94 ps18481\">due in 1 to 2 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss452\"><span class=\"f charStyle-183bdf94 ps24434\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8422 ss984\"><div><div class=\"ps2776 ss452\"><span class=\"f charStyle-183bdf94 ps18481\">due in 3 to 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss452\"><span class=\"f charStyle-183bdf94 ps24434\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18650 ss984\"><div><div class=\"ps2776 ss452\"><span class=\"f charStyle-183bdf94 ps24435\">due after 5 <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss452\"><span class=\"f charStyle-183bdf94 ps24434\">years</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10499 ss442\"><div><div class=\"ps979 ss429\"><span class=\"f charStyle-183bdf94 ps24436\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24437 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7526\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8659 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7526\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24438 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7526\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24439 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7526\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24440 ss456\"><div><div class=\"ps485 ss452\"><span class=\"f charStyle-183bdf94 ps7526\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24441 ss860\"><div><div class=\"ps485 ss429\"><span class=\"f charStyle-183bdf94 ps7287\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Bonds<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24442 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24443 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">43.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24444 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">43.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24445 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps20879\">1,216.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11827 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">552.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11781 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps11794\">1,856.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss1854\"><div><div class=\"ps476 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24446 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24447 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">298.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24448 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">213.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24449 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">810.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps18665 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps11789 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps11794\">1,322.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Leases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24450 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24451 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">21.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24452 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">17.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24453 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">30.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps18674 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24454 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps7296\">72.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Payables for put option and earn-out<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24455 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24456 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">3.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24457 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24458 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">49.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19305 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps9098\">114.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24459 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps7341\">168.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Other financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24460 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24461 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24462 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24463 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19310 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24464 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps7349\">2.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Trade payables<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24465 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">105.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24466 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">565.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24467 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24468 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps18688 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24469 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps7341\">672.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-183bdf94 ps132\">Other non-financial liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24470 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7536\">17.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24471 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps7576\">203.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24472 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24473 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps24308\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19314 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-183bdf94 ps22450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24474 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps7341\">221.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss1854\"><div><div class=\"ps485 ss1852\"><span class=\"f charStyle-ba8ac8da ps132\">Total liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24475 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-ba8ac8da ps7576\">123.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24476 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-ba8ac8da ps20879\">1,138.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24477 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-ba8ac8da ps7576\">275.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24478 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-ba8ac8da ps20879\">2,107.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19315 ss456\"><div><div class=\"ps476 ss452\"><span class=\"f charStyle-ba8ac8da ps7576\">671.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24479 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-ba8ac8da ps11794\">4,316.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24482 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">The Group\u2019s financial payables, except non-current payables with a fixed maturity, consist of short-term bank<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24483 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">debt. Thanks to its liquidity and satisfactory generation of cash flow from operations, the Group has sufficient<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24484 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">resources to meet its financial commitments at maturity. In addition, there are unused credit lines both</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps24485 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:336.97pt\">committed and uncommitted, that could cover any liquidity requirements </span><span class=\"f charStyle-58d8bcbe ps7401\" style=\"width:159.12pt\">(refer to note 6 ii 'Cash and Cash</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:56.9pt\">Equivalents')</span><span class=\"f charStyle-58d8bcbe ps1805\" style=\"width:2.77pt\">.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-544": {
   "value": "N.V.",
   "dimensions": {
    "concept": "ifrs-full:LegalFormOfEntity",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-550": {
   "value": "<div class=\"ps24594 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Shareholders\u2019 Equity<span id=\"icd9d2b9934a24489a733c940a8ef9e47\"></span></span></div><div class=\"ps24596 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps24597 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.87pt\">Own shares (both ordinary and special voting shares) are reported as a reduction in shareholders\u2019 equity.</span></div><div class=\"ps24599 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps24600 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">The Group manages its capital structure and makes any corresponding changes based on the prevailing<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24601 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">economic conditions and the specific risks of the underlying asset. To maintain or change its capital structure,</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24602 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">the Group may adjust the dividend payments to shareholders and/or issue new shares. For information on the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps22720 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">composition of, and changes in, shareholders\u2019 equity during the periods under review, see the statement of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24603 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:142.24pt\">changes in shareholders\u2019 equity.</span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:169.18pt\">Issued capital and capital structure<span id=\"if73501c67fd04f5ea383ca611917bb5a\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:223.34pt\">The issued capital of Davide Campari-Milano N.V. </span><span class=\"f charStyle-58d8bcbe ps24604\" style=\"width:96.3pt\">at 31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps24605\" style=\"width:176.5pt\"> is represented in the following table, no</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps4091 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">movements occurred during the year 2025 in the composition of the issued capital. Both ordinary and special</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17854 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">voting shares A have a nominal value of \u20ac0.01 each, while special voting shares B have a nominal value of</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps17855 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:173.14pt\">\u20ac0.04 each. The ordinary share capital <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps24606\" style=\"width:96.12pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps24607\" style=\"width:79.44pt\"> is 12,312,677.38.</span><span class=\"f charStyle-58d8bcbe ps24608\" style=\"width:2.77pt\"> </span></div><div class=\"ps24640 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:81.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24610 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-183bdf94 ps24609\">no. of shares<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19293 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-183bdf94 ps24611\">nominal value (\u20ac)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24612 ss261\"><div><div class=\"ps1094 ss254\"><span class=\"f charStyle-183bdf94 ps13328\">ordinary <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps21984\">shares</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24613 ss261\"><div><div class=\"ps1094 ss254\"><span class=\"f charStyle-183bdf94 ps17826\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7989\">shares A</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24615 ss261\"><div><div class=\"ps1094 ss254\"><span class=\"f charStyle-183bdf94 ps17826\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24614\">shares B</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24617 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24616\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6978 ss261\"><div><div class=\"ps2776 ss254\"><span class=\"f charStyle-183bdf94 ps13328\">ordinary <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss254\"><span class=\"f charStyle-183bdf94 ps21984\">shares</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24618 ss261\"><div><div class=\"ps2776 ss254\"><span class=\"f charStyle-183bdf94 ps17826\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss254\"><span class=\"f charStyle-183bdf94 ps7989\">shares A</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11811 ss261\"><div><div class=\"ps2776 ss254\"><span class=\"f charStyle-183bdf94 ps17826\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss254\"><span class=\"f charStyle-183bdf94 ps24614\">shares B</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23609 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24616\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1844\"><div><div class=\"ps1094 ss1843\"><span class=\"f charStyle-183bdf94 ps132\">Share capital at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1843\"><span class=\"f charStyle-183bdf94 ps132\">December 2024</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24620 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24619\">1,231,267,738<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16083 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">71,696,938<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1001 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24621\">594,021,404<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24622 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24619\">1,896,986,080<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19297 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">12,312,677<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24623 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps8016\">716,969<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11827 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">23,760,856<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24624 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">36,790,503<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:29.25pt\"><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7311 ss1856\"><div><div class=\"ps17689 ss1843\"><span class=\"f charStyle-183bdf94 ps132\">Conversion from Special <span class=\"f ps21\"> </span></span></div><div class=\"ps17690 ss1843\"><span class=\"f charStyle-183bdf94 ps132\">voting shares A to </span></div><div class=\"ps17691 ss1843\"><span class=\"f charStyle-183bdf94 ps132\">Special voting shares B</span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24625 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps6332\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24627 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps24626\">(3,090)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24628 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps19438\">3,090<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24629 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps6332\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5187 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps6332\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24630 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps11974\">(31)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24631 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps18689\">124<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24632 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps4032\">93<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps1159 ss1844\"><div><div class=\"ps1094 ss1843\"><span class=\"f charStyle-183bdf94 ps132\">Share capital at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1843\"><span class=\"f charStyle-183bdf94 ps132\">December 2025</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps24633 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24619\">1,231,267,738<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps24634 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">71,693,848<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps24635 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24621\">594,024,494<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps24636 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24619\">1,896,986,080<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps5237 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">12,312,677<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps24637 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps8016\">716,938<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps24638 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">23,760,980<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps24639 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">36,790,596<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24642 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">To foster the involvement of a stable base of long-term (loyal) shareholders, the Company\u2019s Articles of</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.22pt\"> </span></div><div class=\"ps12203 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Association (\u2018Articles of Association\u2019) were amended to adopt a mechanism based on the assignment to loyal</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24643 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">shareholders of special voting shares, to which multiple voting rights are attached, in addition to the one granted<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24644 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">by ordinary shares (the \u2018Special Voting Mechanism\u2019). The Special Voting Mechanism entails the possibility of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24645 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">assigning to loyal, long-term shareholders: (i) two voting rights for each Campari ordinary share held for an</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps24646 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">uninterrupted period of two years, through the assignment of a special voting share A (\u2018Special Voting Share A\u2019)<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24647 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">with a nominal value of \u20ac0.01 each; (ii) five voting rights for each ordinary share held for an uninterrupted period</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps24648 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">of five years, through the assignment of a special voting share B (\u2018Special Voting Share B\u2019) with a nominal value</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps24649 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">of \u20ac0.04 each and (iii) ten voting rights for each ordinary share held for an uninterrupted period of ten years</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24650 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">(\u2018Special Voting Share C\u2019) with a nominal value of \u20ac0.09 each. The features of the Special Voting Shares (A, B,</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps24651 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">C) are described in the Articles of Association, as well as in the terms and conditions for Special Voting Shares</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps24652 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:359.54pt\">(\u2018SVS Terms\u2019). The Special Voting Shares are not tradable on a regulated market.</span></div><div class=\"ps24653 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">The Company established a separate special capital reserve for the purpose of satisfying obligations related to</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps24654 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">special voting shares. At the board's discretion, special voting shares may be issued using the funds from the</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps24655 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:385.49pt\">special capital reserve, in lieu of an actual monetary payment for the respective shares.<span class=\"f ps21\"> </span></span></div><div class=\"ps24657 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">The features of the special voting shares (which can be A, B, C depending on the voting rights assigned) are</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps24658 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">described in the articles of association as well as in the terms and conditions for special voting shares (\u2018SVS</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.59pt\"> </span></div><div class=\"ps24659 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Terms\u2019). The special voting shares are not tradable on a regulated market. The special voting mechanism and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24660 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">the features of the special voting shares have also been described in the governance section under</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps24662 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e0cd7021 ps56\" style=\"width:106.67pt\"><a class=\"Hyperlink\" href=\"https://www.camparigroup.com/en/page/investors/transfer-registered-office\" style=\"z-index:1\">www.camparigroup.com</a><span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps24661\" style=\"width:2.77pt\">.</span></div><div class=\"ps24664 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:309.67pt\">Outstanding shares, own shares rights associated to the shares<span id=\"i18c52f4d1dee498584948b53ffffeaaf\"></span></span><span class=\"f charStyle-562c451e ps4884\" style=\"width:3.05pt\"> </span></div><div class=\"ps24666 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:50.37pt\">On 29 Oct</span><span class=\"f charStyle-58d8bcbe ps16008\" style=\"width:47.44pt\">ober 2024</span><span class=\"f charStyle-58d8bcbe ps24665\" style=\"width:398.39pt\"> Campari Group announced the launch of a share buyback program (the 'program'),</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">coordinated by UBS Europe SE, in accordance with Article 5 of Regulation (EU) n.596/2014 and intended to<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24667 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">meet the obligations arising from the stock option plans and other share-based incentive plans, currently in force</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps24668 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">or to be adopted and whose beneficiaries are (or will be) employees or members of the administrative and/or</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps24669 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">management bodies of either the Company or other Campari Group's companies. The program was</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps24670 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">implemented in accordance with the resolution adopted by the Company\u2019s General Meeting held on April 11,</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps24671 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">2024, which authorised the Board of Directors to acquire, in one or more transactions, a maximum number of</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps24672 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">shares in the capital of the Company which, when added to the treasury shares already held by Campari, will</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps24673 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">not exceed the legal limit, for a period of 18 months, from 11 April 2024, to 11 October 2025 (the \u2018Authorisation\u2019).</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.59pt\"> </span></div><div class=\"ps10285 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">The Authorisation has also set out that purchases shall take place for (i) a minimum price, excluding expenses,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps20019 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">of the nominal value of Campari\u2019s shares, and (ii) a maximum price of an amount equal to 10% above the</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15541 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">opening price on the day of acquisition of the share concerned. The program started on 30 October 2024 and</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps24674 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">ended on 25 September 2025. Pursuant to the program, the Company, coordinated by UBS Europe SE, bought</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps24675 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">7,033,285 shares at an average price of \u20ac5.6 per share and an amount of \u20ac39.6 million (the maximum value</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps24676 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">allocated to the program was \u20ac40.0 million to purchase a maximum amount of 8,000,000 shares). No share</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps24677 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:228.33pt\">buyback program was active at 31 December 2025.</span></div><div class=\"ps24681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:354.41pt\">The following table shows the reconciliation between the number of outstanding </span><span class=\"f charStyle-58d8bcbe ps24678\" style=\"width:30.01pt\">shares</span><span class=\"f charStyle-58d8bcbe ps24679\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-58d8bcbe ps24680\" style=\"width:2.77pt\"> </span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:98.25pt\"></td><td style=\"padding:0;width:51pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:58.5pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:48pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9487 ss1858\"><div><div class=\"ps476 ss1676\"><span class=\"f charStyle-183bdf94 ps24683\">no. of shares<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24685 ss1860\"><div><div class=\"ps476 ss1859\"><span class=\"f charStyle-183bdf94 ps24684\">nominal value (\u20ac)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9488 ss442\"><div><div class=\"ps2776 ss429\"><span class=\"f charStyle-183bdf94 ps21057\">ordinary <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss429\"><span class=\"f charStyle-183bdf94 ps24686\">shares</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24688 ss667\"><div><div class=\"ps2776 ss655\"><span class=\"f charStyle-183bdf94 ps24687\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss655\"><span class=\"f charStyle-183bdf94 ps13589\">shares A</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps899 ss667\"><div><div class=\"ps2776 ss655\"><span class=\"f charStyle-183bdf94 ps24687\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss655\"><span class=\"f charStyle-183bdf94 ps18014\">shares B</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24689 ss1861\"><div><div class=\"ps979 ss463\"><span class=\"f charStyle-183bdf94 ps14434\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24692 ss667\"><div><div class=\"ps2776 ss655\"><span class=\"f charStyle-183bdf94 ps24690\">ordinary <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss655\"><span class=\"f charStyle-183bdf94 ps24691\">shares</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24693 ss667\"><div><div class=\"ps2776 ss655\"><span class=\"f charStyle-183bdf94 ps24687\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss655\"><span class=\"f charStyle-183bdf94 ps13589\">shares A</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12433 ss667\"><div><div class=\"ps2776 ss655\"><span class=\"f charStyle-183bdf94 ps24687\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss655\"><span class=\"f charStyle-183bdf94 ps18014\">shares B</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24695 ss667\"><div><div class=\"ps979 ss655\"><span class=\"f charStyle-183bdf94 ps24694\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss567\"><div><div class=\"ps1094 ss553\"><span class=\"f charStyle-183bdf94 ps132\">Outstanding shares at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss553\"><span class=\"f charStyle-183bdf94 ps132\">December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18655 ss442\"><div><div class=\"ps473 ss429\"><span class=\"f charStyle-183bdf94 ps11770\">1,202,504,501<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24696 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">40,456,589<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps482 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24697\">593,981,404<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18657 ss1861\"><div><div class=\"ps473 ss463\"><span class=\"f charStyle-183bdf94 ps24698\">1,836,942,494<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24699 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">12,025,045<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24701 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24700\">404,566<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12444 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">23,759,256<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24702 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">36,188,867<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"padding:0\"><div class=\"ps7311 ss560\"><div><div class=\"ps13336 ss553\"><span class=\"f charStyle-183bdf94 ps132\">Ordinary shares repurchased <span class=\"f ps21\"> </span></span></div><div class=\"ps13337 ss553\"><span class=\"f charStyle-183bdf94 ps132\">under share repurchase <span class=\"f ps21\"> </span></span></div><div class=\"ps13338 ss553\"><span class=\"f charStyle-183bdf94 ps132\">program</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24704 ss1862\"><div><div class=\"ps13338 ss429\"><span class=\"f charStyle-183bdf94 ps24703\">(5,953,865)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7313 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8573 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24705 ss1864\"><div><div class=\"ps13338 ss463\"><span class=\"f charStyle-183bdf94 ps24690\">(5,953,865)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24707 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24706\">(59,539)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24708 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24709 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24710 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24706\">(59,539)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5743 ss567\"><div><div class=\"ps1094 ss553\"><span class=\"f charStyle-183bdf94 ps132\">Ordinary shares assigned <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss553\"><span class=\"f charStyle-183bdf94 ps132\">under share-based programs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24711 ss442\"><div><div class=\"ps473 ss429\"><span class=\"f charStyle-183bdf94 ps11777\">2,234,710<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24712 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24713 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24715 ss1861\"><div><div class=\"ps473 ss463\"><span class=\"f charStyle-183bdf94 ps24714\">2,234,710<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24717 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24716\">22,347<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24718 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24719 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24720 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24716\">22,347<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"padding:0\"><div class=\"ps8706 ss560\"><div><div class=\"ps13336 ss553\"><span class=\"f charStyle-40131897 ps132\">Conversion from special </span></div><div class=\"ps13337 ss553\"><span class=\"f charStyle-40131897 ps132\">voting shares A to special </span></div><div class=\"ps13338 ss553\"><span class=\"f charStyle-40131897 ps132\">voting shares B</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24721 ss1862\"><div><div class=\"ps13338 ss429\"><span class=\"f charStyle-183bdf94 ps11784\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24723 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24722\">(3,090)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24725 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24724\">3,090<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24726 ss1864\"><div><div class=\"ps13338 ss463\"><span class=\"f charStyle-183bdf94 ps20450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24727 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24729 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24728\">(31)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24731 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24730\">124<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24733 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24732\">93<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5572 ss567\"><div><div class=\"ps1094 ss553\"><span class=\"f charStyle-183bdf94 ps132\">Special voting shares <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss553\"><span class=\"f charStyle-183bdf94 ps132\">allocation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24734 ss442\"><div><div class=\"ps473 ss429\"><span class=\"f charStyle-183bdf94 ps11784\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24736 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24735\">(8,753,499)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24737 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24722\">(1,560)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24738 ss1861\"><div><div class=\"ps473 ss463\"><span class=\"f charStyle-183bdf94 ps24690\">(8,755,059)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24739 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24740 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24706\">(87,535)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24741 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24728\">(62)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24742 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24706\">(87,597)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5586 ss567\"><div><div class=\"ps1094 ss553\"><span class=\"f charStyle-183bdf94 ps132\">Outstanding shares at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss553\"><span class=\"f charStyle-183bdf94 ps132\">December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24743 ss442\"><div><div class=\"ps473 ss429\"><span class=\"f charStyle-183bdf94 ps11770\">1,198,785,346<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24744 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">31,700,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24745 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24697\">593,982,934<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24746 ss1861\"><div><div class=\"ps473 ss463\"><span class=\"f charStyle-183bdf94 ps24698\">1,824,468,280<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24747 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps14688\">11,987,853<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24748 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24700\">317,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24749 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">23,759,317<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24750 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">36,064,171<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps953 ss554\"><div><div class=\"ps476 ss553\"><span class=\"f charStyle-183bdf94 ps132\">Total own shares held<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24752 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps24751\">32,482,392<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24753 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">39,993,848<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps954 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps24716\">41,560<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24754 ss1865\"><div><div class=\"ps476 ss463\"><span class=\"f charStyle-183bdf94 ps23495\">72,517,800<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24755 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps24700\">324,824<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24756 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps24700\">399,938<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24757 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps24724\">1,662<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24758 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps24700\">726,425<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps956 ss567\"><div><div class=\"ps1094 ss553\"><span class=\"f charStyle-183bdf94 ps132\">Own shares as a % total <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss553\"><span class=\"f charStyle-183bdf94 ps132\">respective shares</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24760 ss442\"><div><div class=\"ps473 ss429\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24759\"></span><span class=\"ps24759\">2.64%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24762 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24761\"></span><span class=\"ps24761\">55.78%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps957 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24763\"></span><span class=\"ps24763\">0.01%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24765 ss1861\"><div><div class=\"ps473 ss463\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24764\"></span><span class=\"ps24764\">3.82%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps24846 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:99.75pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:44.25pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8947 ss1858\"><div><div class=\"ps476 ss1676\"><span class=\"f charStyle-183bdf94 ps24683\">no. of shares<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11956 ss1867\"><div><div class=\"ps476 ss1866\"><span class=\"f charStyle-183bdf94 ps24766\">nominal value (\u20ac)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24768 ss252\"><div><div class=\"ps2776 ss182\"><span class=\"f charStyle-183bdf94 ps20839\">ordinary <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss182\"><span class=\"f charStyle-183bdf94 ps24767\">shares</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23699 ss445\"><div><div class=\"ps2776 ss433\"><span class=\"f charStyle-183bdf94 ps24769\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss433\"><span class=\"f charStyle-183bdf94 ps24770\">shares A</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24773 ss1398\"><div><div class=\"ps2776 ss1397\"><span class=\"f charStyle-183bdf94 ps24771\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1397\"><span class=\"f charStyle-183bdf94 ps24772\">shares B</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15494 ss445\"><div><div class=\"ps979 ss433\"><span class=\"f charStyle-183bdf94 ps24385\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24775 ss230\"><div><div class=\"ps2776 ss44\"><span class=\"f charStyle-183bdf94 ps14687\">ordinary <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss44\"><span class=\"f charStyle-183bdf94 ps24774\">shares</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24776 ss1398\"><div><div class=\"ps2776 ss1397\"><span class=\"f charStyle-183bdf94 ps24771\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1397\"><span class=\"f charStyle-183bdf94 ps5189\">shares A</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24777 ss1398\"><div><div class=\"ps2776 ss1397\"><span class=\"f charStyle-183bdf94 ps24771\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1397\"><span class=\"f charStyle-183bdf94 ps24772\">shares B</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24779 ss1398\"><div><div class=\"ps979 ss1397\"><span class=\"f charStyle-183bdf94 ps24778\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss848\"><div><div class=\"ps1094 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Outstanding shares at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss844\"><span class=\"f charStyle-183bdf94 ps132\">December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11816 ss252\"><div><div class=\"ps473 ss182\"><span class=\"f charStyle-183bdf94 ps12110\">1,131,982,258<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11963 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps20436\">40,657,598<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22586 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps8010\">594,001,404<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15496 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps24780\">1,766,641,260<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11965 ss230\"><div><div class=\"ps473 ss44\"><span class=\"f charStyle-183bdf94 ps24781\">11,319,823<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24782 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps22822\">406,576<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24783 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps22820\">23,760,056<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24784 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps22820\">35,486,455<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps7311 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Issue of new ordinary shares<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24785 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps23709\">69,667,738<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24786 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24787 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24788 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps20436\">69,667,738<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24789 ss45\"><div><div class=\"ps476 ss44\"><span class=\"f charStyle-183bdf94 ps11962\">696,677<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps5190 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24790 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24791 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps22822\">696,677<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"padding:0\"><div class=\"ps15164 ss1053\"><div><div class=\"ps13336 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Ordinary shares repurchased <span class=\"f ps21\"> </span></span></div><div class=\"ps13337 ss844\"><span class=\"f charStyle-183bdf94 ps132\">under share repurchase <span class=\"f ps21\"> </span></span></div><div class=\"ps13338 ss844\"><span class=\"f charStyle-183bdf94 ps132\">program</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24793 ss1654\"><div><div class=\"ps13338 ss182\"><span class=\"f charStyle-183bdf94 ps24792\">(1,079,420)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24794 ss1868\"><div><div class=\"ps13338 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24795 ss1869\"><div><div class=\"ps13338 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24796 ss1868\"><div><div class=\"ps13338 ss433\"><span class=\"f charStyle-183bdf94 ps5172\">(1,079,420)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24798 ss454\"><div><div class=\"ps13338 ss44\"><span class=\"f charStyle-183bdf94 ps24797\">(10,794)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24799 ss1869\"><div><div class=\"ps13338 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24800 ss1869\"><div><div class=\"ps13338 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24802 ss1869\"><div><div class=\"ps13338 ss1397\"><span class=\"f charStyle-183bdf94 ps24801\">(10,794)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5244 ss848\"><div><div class=\"ps1094 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Ordinary shares assigned <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss844\"><span class=\"f charStyle-183bdf94 ps132\">under share-based programs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24803 ss252\"><div><div class=\"ps473 ss182\"><span class=\"f charStyle-183bdf94 ps23072\">1,933,925<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24804 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24805 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24807 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps24806\">1,933,925<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24808 ss230\"><div><div class=\"ps473 ss44\"><span class=\"f charStyle-183bdf94 ps11969\">19,339<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps5253 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24809 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24811 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps24810\">19,339<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2982 ss848\"><div><div class=\"ps1094 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Special voting shares <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss844\"><span class=\"f charStyle-183bdf94 ps132\">allocation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24812 ss252\"><div><div class=\"ps473 ss182\"><span class=\"f charStyle-183bdf94 ps20956\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24813 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps22824\">(201,009)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24814 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps24801\">(20,000)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24815 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps22824\">(221,009)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24816 ss230\"><div><div class=\"ps473 ss44\"><span class=\"f charStyle-183bdf94 ps7586\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24817 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps24110\">(2,010)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24819 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps24818\">(800)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24820 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps24110\">(2,810)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12863 ss848\"><div><div class=\"ps1094 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Outstanding shares at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss844\"><span class=\"f charStyle-183bdf94 ps132\">December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24821 ss252\"><div><div class=\"ps473 ss182\"><span class=\"f charStyle-183bdf94 ps12110\">1,202,504,501<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24822 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps20436\">40,456,589<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24823 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps8010\">593,981,404<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24824 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps24780\">1,836,942,494<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24826 ss230\"><div><div class=\"ps473 ss44\"><span class=\"f charStyle-183bdf94 ps24825\">12,025,045<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24827 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps22822\">404,566<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24828 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps22820\">23,759,256<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24829 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps22820\">36,188,867<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18275 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Total own shares held<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24830 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps23709\">28,763,237<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24831 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps20436\">31,240,349<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24832 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps24810\">40,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24833 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps20436\">60,043,586<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24834 ss45\"><div><div class=\"ps476 ss44\"><span class=\"f charStyle-183bdf94 ps11962\">287,632<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24835 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps22822\">312,403<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24836 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps16566\">1,600<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24837 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps22822\">601,636<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps20623 ss848\"><div><div class=\"ps1094 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Own shares as a % total <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss844\"><span class=\"f charStyle-183bdf94 ps132\">respective shares</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24839 ss252\"><div><div class=\"ps473 ss182\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24838\"></span><span class=\"ps24838\">2.34%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24841 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24840\"></span><span class=\"ps24840\">43.57%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24843 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24842\"></span><span class=\"ps24842\">0.01%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24845 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24844\"></span><span class=\"ps24844\">3.17%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps24848 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">In terms of ordinary shares, between 1 January and 31 December 2025, Davide Campari-Milano N.V.</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24849 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">transferred 2,215,990 shares with no cash inflow effect, in the context of the exercise of the existing share-</span></div><div class=\"ps21009 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">based plans covering the medium- and long-term horizon and sold 18,720 for an immaterial cash inflow,</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps24850 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">corresponding to the average exercise price multiplied by the number of own shares sold to stock option</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps24854 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:225.42pt\">beneficiaries. In the same period and through the </span><span class=\"f charStyle-58d8bcbe ps24851\" style=\"width:106.38pt\">share buyback program</span><span class=\"f charStyle-58d8bcbe ps24852\" style=\"width:119.94pt\">, the Company purchased </span><span class=\"f charStyle-58d8bcbe ps24853\" style=\"width:44.46pt\">5,953,865</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24855 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">shares at an average price of \u20ac5.63, for a total amount of \u20ac33.5 million (the amount includes \u20ac0.4 million liability</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps24858 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:229.08pt\">in connection with the share buyback program). </span><span class=\"f charStyle-58d8bcbe ps24856\" style=\"width:104.45pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps24857\" style=\"width:162.58pt\">, Davide Campari-Milano N.V. held<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22529 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:50.02pt\">32,482,392</span><span class=\"f charStyle-58d8bcbe ps24859\" style=\"width:118.87pt\"> own shares, equivalent to </span><span class=\"f charStyle-58d8bcbe ps6257\" style=\"width:22.78pt\">2.6%</span><span class=\"f charStyle-58d8bcbe ps24860\" style=\"width:89.97pt\"> of the share capital.</span><span class=\"f charStyle-58d8bcbe ps6825\" style=\"width:2.77pt\"> </span></div><div class=\"ps24861 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">The following table shows changes in the number and value of ordinary own shares held during the periods</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps24862 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:51.68pt\">considered.</span></div><div class=\"ps24882 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:162pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:84pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24865 ss1870\"><div><div class=\"ps476 ss1841\"><span class=\"f charStyle-183bdf94 ps24864\">no. of ordinary shares held<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13067 ss1871\"><div><div class=\"ps476 ss1354\"><span class=\"f charStyle-183bdf94 ps24866\">value (\u20ac million)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4502 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps24867\">31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24689 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps24867\">31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24868 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps24867\">31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18329 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps19593\">31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss203\"><div><div class=\"ps476 ss202\"><span class=\"f charStyle-183bdf94 ps132\">Balance at 1 January<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4508 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24869\">28,763,237<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24870 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24869\">29,617,742<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24871 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">294.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18349 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">306.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss203\"><div><div class=\"ps476 ss202\"><span class=\"f charStyle-183bdf94 ps132\">Purchases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps4522 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19881\">5,953,865<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24872 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19881\">1,079,420<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps24873 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23823\">33.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22729 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">6.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss203\"><div><div class=\"ps476 ss202\"><span class=\"f charStyle-183bdf94 ps132\">Assigned<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps4534 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24874\">(2,234,710)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24875 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24874\">(1,933,925)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps24876 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24054\">(21.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19603 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6754\">(18.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss203\"><div><div class=\"ps476 ss202\"><span class=\"f charStyle-183bdf94 ps132\">Final balance<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24877 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24869\">32,482,392<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24878 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24869\">28,763,237<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24879 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">306.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19611 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">294.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss203\"><div><div class=\"ps476 ss202\"><span class=\"f charStyle-183bdf94 ps132\">% of share capital<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24880 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94\"><span class=\"ps5118\"></span><span class=\"ps5118\">2.64</span><span class=\"ps5062\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24881 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94\"><span class=\"ps5118\"></span><span class=\"ps5118\">2.34</span><span class=\"ps5062\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps24883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">With reference to special voting shares, between 1 January and 31 December 2025 the Company allocated</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps24676 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:44.46pt\">8,753,499</span><span class=\"f charStyle-58d8bcbe ps24884\" style=\"width:451.65pt\"> special voting shares A to the treasury shares reserve. This resulted from disposals of outstanding</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps24885 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">ordinary shares having corresponding special voting shares. During the same period the Company allocated</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps12507 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:25.01pt\">1,560</span><span class=\"f charStyle-58d8bcbe ps7137\" style=\"width:86.54pt\"> special voting shar</span><span class=\"f charStyle-58d8bcbe ps865\" style=\"width:23.42pt\">es B </span><span class=\"f charStyle-58d8bcbe ps4878\" style=\"width:156.96pt\">to the treasury shares reserve and </span><span class=\"f charStyle-58d8bcbe ps24886\" style=\"width:25.01pt\">3,090</span><span class=\"f charStyle-58d8bcbe ps24887\" style=\"width:179.19pt\"> special voting shares B to shareholders</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps24888 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">entitled to achieve the related special voting rights which has been derived from the dedicated special capital</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps24889 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">reserve. During the period, no cancellation of the treasury special voting shares was resolved by the</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps24890 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:174.99pt\">Shareholders\u2019 Meeting of the Company.</span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:51.31pt\">Dividends <span id=\"ib2764f326e674b928ee4fb589296d586\"></span></span><span class=\"f charStyle-562c451e ps596\" style=\"width:45.82pt\">proposed</span></div><div class=\"ps1254 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:351.1pt\">The table below shows the dividends proposed for the year and previous years.</span></div><div class=\"ps21052 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:262.5pt\"></td><td style=\"padding:0;width:90.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:66.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24893 ss1873\"><div><div class=\"ps476 ss215\"><span class=\"f charStyle-183bdf94 ps24892\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23238 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps912\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24894 ss369\"><div><div class=\"ps476 ss366\"><span class=\"f charStyle-183bdf94 ps11709\">2023<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24896 ss1873\"><div><div class=\"ps476 ss215\"><span class=\"f charStyle-183bdf94 ps24895\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24898 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps24897\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps15090 ss369\"><div><div class=\"ps476 ss366\"><span class=\"f charStyle-183bdf94 ps24899\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1874\"><div><div class=\"ps476 ss1872\"><span class=\"f charStyle-183bdf94 ps132\">Dividend per share proposed<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24901 ss1873\"><div><div class=\"ps476 ss215\"><span class=\"f charStyle-183bdf94 ps24900\">0.100<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24902 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps14917\">0.065<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4048 ss369\"><div><div class=\"ps476 ss366\"><span class=\"f charStyle-183bdf94 ps6417\">0.065<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24904 ss1873\"><div><div class=\"ps476 ss215\"><span class=\"f charStyle-183bdf94 ps24903\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24905 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps22420\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4071 ss369\"><div><div class=\"ps476 ss366\"><span class=\"f charStyle-183bdf94 ps6406\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1874\"><div><div class=\"ps476 ss1872\"><span class=\"f charStyle-183bdf94 ps132\">Total amount proposed<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24906 ss1873\"><div><div class=\"ps476 ss215\"><span class=\"f charStyle-183bdf94 ps7468\">119.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24907 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps20615\">78.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24908 ss369\"><div><div class=\"ps476 ss366\"><span class=\"f charStyle-183bdf94 ps11729\">78.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1874\"><div><div class=\"ps476 ss1872\"><span class=\"f charStyle-183bdf94 ps132\">of which, to owners of the Parent<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps24909 ss1873\"><div><div class=\"ps476 ss215\"><span class=\"f charStyle-183bdf94 ps7468\">119.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24910 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps20615\">78.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24911 ss369\"><div><div class=\"ps476 ss366\"><span class=\"f charStyle-183bdf94 ps11729\">78.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1874\"><div><div class=\"ps476 ss1872\"><span class=\"f charStyle-183bdf94 ps132\">of which, to non-controlling interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24913 ss1873\"><div><div class=\"ps476 ss215\"><span class=\"f charStyle-183bdf94 ps24912\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24914 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps3323\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24916 ss369\"><div><div class=\"ps476 ss366\"><span class=\"f charStyle-183bdf94 ps24915\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24918 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">The dividend submitted for the approval of the General Meeting of Shareholders called to approve the financial</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps24921 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:244pt\">statements for the year ended 31 December 2025 is \u20ac</span><span class=\"f charStyle-58d8bcbe ps24919\" style=\"width:24.27pt\">119.9</span><span class=\"f charStyle-58d8bcbe ps24920\" style=\"width:227.87pt\"> million, calculated based on shares outstanding at</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps24924 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:267.24pt\">31 December 2025 (for information purposes, based on the </span><span class=\"f charStyle-58d8bcbe ps24922\" style=\"width:50.02pt\">32,482,392</span><span class=\"f charStyle-58d8bcbe ps24923\" style=\"width:178.97pt\"> own shares held at 31 December 2025,</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:174.62pt\">the shares outstanding amounted to </span><span class=\"f charStyle-58d8bcbe ps24925\" style=\"width:63.91pt\">1,198,785,346<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps24926\" style=\"width:257.66pt\">). The dividend will be recalculated based on the total</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps24928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">number of outstanding shares as of the coupon detachment date. The proposed dividend for the period is</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps24929 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:5.56pt\">\u20ac<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps7136\" style=\"width:25.01pt\">0.100<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps7139\" style=\"width:465.6pt\"> per share, with a +53.8% increase versus previous year (\u20ac0.065 per share). Campari Group has</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps24930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">regularly paid a cash dividend since its initial public offering in 2001 with a progressive increase. As the Group</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">maintains its strong focus on business growth, several factors have allowed the Group to step-up its dividend</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps24932 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">payout to bring it closer to industry norms. Firstly, the Group\u2019s new strategy of focusing on fewer bigger bets with</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps14186 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">less relevance of bolt-on acquisitions means there is a new capital allocation rationale. At the same time, the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps24933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Group is deleveraging faster than planned and is confident in ensuring comfortable leverage levels going</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps24934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">forward as the extraordinary capex program comes to an end. This step-up in dividend payment will allow the</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps24935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Group to provide its shareholders with a more balanced total shareholder return, also through an increased</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:268.1pt\">contribution from dividends while retaining financial flexibility.</span><span class=\"f charStyle-58d8bcbe ps24936\" style=\"width:2.77pt\"> </span></div><div class=\"ps24939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:72.08pt\">Dividends paid<span id=\"i405871ee0a754d2f9e544023dd5bee33\"></span></span></div><div class=\"ps24940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:451.11pt\">The following table shows the dividends paid during the period and previous years on ordinary shares.</span></div><div class=\"ps24950 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:207pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24942 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2981\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14812 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2981\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24943 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2981\">2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24944 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2981\">2022<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7284 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2981\">2021<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1580\"><div><div class=\"ps485 ss262\"><span class=\"f charStyle-183bdf94 ps132\">dividend per share paid (\u20ac)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6316 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">0.065<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22657 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">0.065<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24945 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">0.060<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24946 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">0.060<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7293 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">0.055<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1580\"><div><div class=\"ps485 ss262\"><span class=\"f charStyle-183bdf94 ps132\">total amount (\u20ac million)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6328 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">78.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22660 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">78.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps24947 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">67.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps24948 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">67.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps24949 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">61.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24952 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">On 16 April 2025, the Annual General Meeting approved the distribution of a dividend per share of \u20ac0.065 for</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps24953 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:385.86pt\">2024. The dividend payment date was 24 April 2025, for a total amount of \u20ac78.0 million.</span></div><div><div id=\"ie3b68c32b5114a90ac1b831374b8108c_1180\" style=\"position:absolute;top:56.69pt\"></div><div class=\"ps1253 ss1036\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:351.79pt\">Other reserves and retained earnings attributable to Group shareholders<span id=\"i9e77cdeb3efa4837bd0fb78d3c71c41a\"></span></span></div><div class=\"ps21052 ss1036\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1051 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:195.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23897 ss1512\"><div><div class=\"ps476 ss1511\"><span class=\"f charStyle-ba8ac8da ps24954\">equity reserves<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"7\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24956 ss1768\"><div><div class=\"ps476 ss1767\"><span class=\"f charStyle-ba8ac8da ps24955\">retained earnings and other reserves<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5476 ss530\"><div><div class=\"ps2374 ss273\"><span class=\"f charStyle-183bdf94 ps24957\">cash flow <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss273\"><span class=\"f charStyle-183bdf94 ps24958\">hedge</span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24960 ss1612\"><div><div class=\"ps2974 ss180\"><span class=\"f charStyle-183bdf94 ps24959\">currency <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps22023\">translation\u00a0 </span></div><div class=\"ps2976 ss180\"><span class=\"f charStyle-183bdf94 ps18350\">differences<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24961 ss1612\"><div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps18449\">hyperinflation<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1085 ss1612\"><div><div class=\"ps2372 ss180\"><span class=\"f charStyle-183bdf94 ps24962\">remeasurem<span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps24963\">ent of </span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps24205\">defined </span></div><div class=\"ps2378 ss180\"><span class=\"f charStyle-183bdf94 ps8943\">benefit plans<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-right:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5480 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-ba8ac8da ps6396\">total equity <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-ba8ac8da ps6475\">reserves</span></div></div></div></td><td rowspan=\"2\" style=\"border-left:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24965 ss1876\"><div><div class=\"ps2974 ss1233\"><span class=\"f charStyle-183bdf94 ps24964\">treasury <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss1233\"><span class=\"f charStyle-183bdf94 ps24964\">ordinary </span></div><div class=\"ps2976 ss1233\"><span class=\"f charStyle-183bdf94 ps16482\">shares</span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24967 ss1612\"><div><div class=\"ps2974 ss180\"><span class=\"f charStyle-183bdf94 ps24966\">treasury <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps24101\">special </span></div><div class=\"ps2976 ss180\"><span class=\"f charStyle-183bdf94 ps10248\">voting shares</span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24968 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps18045\">share-based <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps23797\">payments</span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24969 ss535\"><div><div class=\"ps1083 ss179\"><span class=\"f charStyle-183bdf94 ps24698\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24970 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-40131897 ps20562\">share </span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-40131897 ps6685\">premium</span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24971 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps24966\">retained <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps24959\">earnings</span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24973 ss1612\"><div><div class=\"ps2372 ss180\"><span class=\"f charStyle-ba8ac8da ps502\">total <span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss180\"><span class=\"f charStyle-ba8ac8da ps6685\">retained </span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-ba8ac8da ps19592\">earnings </span></div><div class=\"ps2378 ss180\"><span class=\"f charStyle-ba8ac8da ps24972\">and other</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps10737 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1089 ss1878\"><div><div class=\"ps473 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024 Campari Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5484 ss540\"><div><div class=\"ps473 ss273\"><span class=\"f charStyle-ba8ac8da ps24974\">6.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24975 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(113.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24977 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">80.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1092 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">2.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5490 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(23.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24978 ss1401\"><div><div class=\"ps473 ss1233\"><span class=\"f charStyle-ba8ac8da ps23079\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24979 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24980 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">71.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24981 ss381\"><div><div class=\"ps473 ss179\"><span class=\"f charStyle-ba8ac8da ps23719\">33.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24982 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">642.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24983 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,093.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24984 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,841.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps4163 ss1878\"><div><div class=\"ps1094 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Cost of share-based payments <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">for the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24985 ss540\"><div><div class=\"ps473 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24986 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24987 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps15811 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps4173 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24988 ss1401\"><div><div class=\"ps473 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24989 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24990 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24991 ss381\"><div><div class=\"ps473 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24992 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24993 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24994 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps4628 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Share based instruments exercise, cancellation or expired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps5537 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24995 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24415 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24996 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps5544 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24997 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24998 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24999 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(29.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25000 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25001 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25002 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">29.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25003 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps6894 ss1878\"><div><div class=\"ps1094 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Profits (losses) <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">allocated to shareholders' equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25004 ss540\"><div><div class=\"ps473 ss273\"><span class=\"f charStyle-183bdf94 ps4114\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25005 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24421 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps12741 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps23680\">1.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25006 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25007 ss1401\"><div><div class=\"ps473 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25008 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25009 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25010 ss381\"><div><div class=\"ps473 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25011 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25012 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25013 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps8719 ss1878\"><div><div class=\"ps1094 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Tax effect <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">recognised in shareholders' equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25014 ss540\"><div><div class=\"ps473 ss273\"><span class=\"f charStyle-183bdf94 ps24974\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25015 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25016 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25017 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25018 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25019 ss1401\"><div><div class=\"ps473 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25020 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25021 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25022 ss381\"><div><div class=\"ps473 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25023 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25024 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25025 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14175 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Translation difference<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25026 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25027 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps19583\">(239.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25028 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25029 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25030 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(239.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25031 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25032 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25033 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25034 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25035 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25036 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25037 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps5299 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Effects from hyperinflation accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25038 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25039 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25040 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps23680\">7.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14072 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25041 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">7.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25042 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25043 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25044 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25045 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25046 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25047 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25048 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14096 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Purchase of treasury shares<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25049 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25050 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25051 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14098 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25052 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25053 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23079\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25054 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25055 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25056 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25057 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25058 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(33.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25059 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(33.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps19374 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Sale of treasury shares<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25060 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25061 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25062 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25063 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25064 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25065 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25066 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25067 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25068 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25069 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25070 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps23680\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25071 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps19377 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Changes in ownership interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25072 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25073 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25074 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25075 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25076 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25077 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25078 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25079 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25080 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25081 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25082 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(14.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25083 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(14.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25084 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Special voting shares allocation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25085 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25086 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25087 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25088 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25089 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25090 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25091 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25092 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25093 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25094 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25095 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25096 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25097 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Dividends<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25098 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25099 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25100 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25101 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25102 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25103 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25104 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25105 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25106 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25107 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25108 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(78.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25109 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(78.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps20135 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Net result of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25110 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25111 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25112 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25113 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25114 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25115 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25116 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25117 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25118 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25119 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25120 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps20562\">346.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25121 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">346.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14031 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Other variations<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25122 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25123 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25124 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25125 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25126 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25127 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25128 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25129 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25130 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25131 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25132 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25133 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14032 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025 Campari Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25134 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-ba8ac8da ps24974\">4.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25135 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(352.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25136 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">87.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14034 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">4.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25137 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(256.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25138 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-ba8ac8da ps23079\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25139 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25140 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">63.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25141 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-ba8ac8da ps23719\">33.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25142 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">642.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25143 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,342.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25144 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">4,081.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25145 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">Non-controlling interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14105 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Changes in ownership interests and other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25146 ss274\"><div><div class=\"ps2415 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25147 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25148 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14107 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25149 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25150 ss1234\"><div><div class=\"ps2415 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25151 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25152 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25153 ss187\"><div><div class=\"ps2415 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25154 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25155 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">32.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25156 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">32.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25157 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Net result of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25158 ss274\"><div><div class=\"ps2415 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25159 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25160 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25161 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25162 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25163 ss1234\"><div><div class=\"ps2415 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25164 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25165 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25166 ss187\"><div><div class=\"ps2415 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25167 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25168 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25169 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25170 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Translation difference<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25171 ss274\"><div><div class=\"ps2415 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25172 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(19.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25173 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25174 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25175 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(19.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25176 ss1234\"><div><div class=\"ps2415 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25177 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25178 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25179 ss187\"><div><div class=\"ps2415 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25180 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25181 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25182 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14038 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025 non-controlling interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25183 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-ba8ac8da ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25184 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(19.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25185 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25186 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25187 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(19.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25188 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-ba8ac8da ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25189 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25190 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25191 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-ba8ac8da ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25192 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25193 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">19.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25194 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">19.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25195 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25196 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-ba8ac8da ps24974\">4.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25197 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(371.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25198 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">87.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25199 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">4.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25200 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(275.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25201 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-ba8ac8da ps23079\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25202 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25203 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">63.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25204 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-ba8ac8da ps23719\">33.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25205 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">642.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25206 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,362.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25207 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">4,101.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps3002 ss1036\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1051 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:174.75pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps3308 ss1880\"><div><div class=\"ps476 ss1879\"><span class=\"f charStyle-ba8ac8da ps25210\">equity reserves<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"7\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13608 ss1882\"><div><div class=\"ps476 ss1881\"><span class=\"f charStyle-ba8ac8da ps25211\">retained earnings and other reserves<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25213 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps19592\">cash flow <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps25212\">hedge</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25214 ss1612\"><div><div class=\"ps2974 ss180\"><span class=\"f charStyle-183bdf94 ps24959\">currency <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps22023\">translation\u00a0 </span></div><div class=\"ps2976 ss180\"><span class=\"f charStyle-183bdf94 ps18350\">differences<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss1612\"><div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps18449\">hyperinflation<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25215 ss1612\"><div><div class=\"ps2372 ss180\"><span class=\"f charStyle-183bdf94 ps24962\">remeasurem<span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps24963\">ent of </span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps24205\">defined </span></div><div class=\"ps2378 ss180\"><span class=\"f charStyle-183bdf94 ps8943\">benefit plans<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15580 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-ba8ac8da ps6396\">total equity <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-ba8ac8da ps6475\">reserves</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25217 ss1612\"><div><div class=\"ps2974 ss180\"><span class=\"f charStyle-183bdf94 ps24966\">treasury <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps24966\">ordinary </span></div><div class=\"ps2976 ss180\"><span class=\"f charStyle-183bdf94 ps25216\">shares</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25218 ss1612\"><div><div class=\"ps2974 ss180\"><span class=\"f charStyle-183bdf94 ps24966\">treasury <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps24101\">special </span></div><div class=\"ps2976 ss180\"><span class=\"f charStyle-183bdf94 ps10248\">voting shares</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25220 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps25219\">share- based <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps23797\">payments</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25222 ss1612\"><div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps25221\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24970 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps20562\">share <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps6685\">premium</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24971 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps24966\">retained <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps24959\">earnings</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24973 ss1612\"><div><div class=\"ps2372 ss180\"><span class=\"f charStyle-ba8ac8da ps502\">total <span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss180\"><span class=\"f charStyle-ba8ac8da ps6685\">retained </span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-ba8ac8da ps19592\">earnings </span></div><div class=\"ps2378 ss180\"><span class=\"f charStyle-ba8ac8da ps24972\">and other</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps10737 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1089 ss1884\"><div><div class=\"ps1094 ss174\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023\u00a0 before non-controlling <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss174\"><span class=\"f charStyle-ba8ac8da ps132\">interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25223 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">9.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25224 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(153.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25225 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">67.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25226 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">3.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15587 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(72.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25227 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25228 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25229 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">56.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25230 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">33.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24982 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24983 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">2,872.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24984 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">2,962.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Campari Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps4962 ss1884\"><div><div class=\"ps1094 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Cost of share-based payments <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss174\"><span class=\"f charStyle-183bdf94 ps132\">for the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25231 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps16199 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps22791 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25232 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25233 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps14533 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25234 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25235 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25236 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25237 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25238 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25239 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps6894 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Share-based payments exercised<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25240 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25241 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25242 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25243 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25244 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps19894 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25245 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25246 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(12.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25247 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25011 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25012 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25013 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps5271 ss1884\"><div><div class=\"ps473 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Issue of new shares net of fees<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25248 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps7353 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25249 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25250 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25251 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps14554 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25252 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25253 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25254 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25255 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps20562\">642.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25256 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25257 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">642.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps5285 ss1884\"><div><div class=\"ps1094 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Profits (losses) <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss174\"><span class=\"f charStyle-183bdf94 ps132\">allocated to shareholders' equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25258 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(3.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25259 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25260 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25261 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25262 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(5.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25263 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25264 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25265 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25266 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25267 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25268 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25269 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps5299 ss1884\"><div><div class=\"ps1094 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Tax effect <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss174\"><span class=\"f charStyle-183bdf94 ps132\">recognised in shareholders' equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25270 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps23680\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25271 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25272 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25273 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps23680\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25274 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25275 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25276 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25277 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25278 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25046 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25047 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25048 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps8081 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Translation difference<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25279 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25280 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">40.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25281 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25282 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25283 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">40.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25284 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25285 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25286 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25287 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25288 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25289 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25290 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps14180 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Effects from hyperinflation accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25291 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25292 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25293 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">12.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25294 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25295 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">12.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25296 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25297 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25298 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25299 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25300 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25301 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25302 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps14183 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Purchase of treasury shares<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25303 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25304 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25305 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25306 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25307 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25308 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25309 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25310 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25311 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25312 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25313 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(6.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25314 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(6.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps13366 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Sale of treasury shares<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25315 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25316 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25317 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25318 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25319 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25320 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25321 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25322 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25323 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25324 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25325 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps23680\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25326 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps19382 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Changes in ownership interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25327 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25328 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25329 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25330 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25331 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25332 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25333 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25334 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25335 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25336 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25337 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">50.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25338 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">50.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps14102 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Dividends<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25339 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25340 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25341 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25342 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25343 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25344 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25345 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25346 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25347 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25348 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25349 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(78.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25350 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(78.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps10085 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Dividends to non-controlling interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25351 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25352 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25353 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25354 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25355 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25356 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25357 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25358 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25359 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25360 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25361 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25362 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25363 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Net result of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25364 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25365 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25366 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25367 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25368 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25369 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25370 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25371 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25372 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25373 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25374 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps20562\">201.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25375 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">201.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps5356 ss1884\"><div><div class=\"ps473 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Other variations<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25376 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25377 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25378 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25379 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25380 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25381 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25382 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25383 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25384 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25385 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25386 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">37.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25387 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">37.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps5363 ss1884\"><div><div class=\"ps1094 ss174\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024 before non-controlling <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss174\"><span class=\"f charStyle-ba8ac8da ps132\">interest</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25388 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">6.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25389 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(113.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25390 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">80.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25391 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">2.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25392 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(23.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25393 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25394 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25395 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">71.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25396 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">33.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25397 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">642.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25398 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,093.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25399 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,841.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16421 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-ba8ac8da ps132\">Non-controlling interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps4717 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-40131897 ps132\">Changes in ownership interests and other movements</span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25400 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25401 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25402 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25403 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25404 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps25405 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25406 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25407 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25408 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25409 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25410 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25411 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps4726 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Dividends<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25412 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25413 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25414 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25415 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25416 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25417 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25418 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25419 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25420 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25421 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25422 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25423 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps4736 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Net result of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25424 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25425 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25426 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25427 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25428 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25429 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25430 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25431 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25432 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25433 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25434 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25435 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps19454 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Translation difference<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25436 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25437 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">10.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25438 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25439 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25440 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">10.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25441 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25442 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25443 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25444 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25445 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25446 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25447 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps17814 ss1884\"><div><div class=\"ps1094 ss174\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024 including non-controlling <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss174\"><span class=\"f charStyle-ba8ac8da ps132\">interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25448 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">6.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25449 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(102.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25450 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">80.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25451 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">2.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25452 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(13.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25453 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25454 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25455 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">71.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25456 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">33.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25457 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">642.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25458 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,083.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25459 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,830.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:46.62pt\">In 2025, </span><span class=\"f charStyle-58d8bcbe ps25460\" style=\"width:449.52pt\">the change in the currency translation differences reserve was mainly related to net assets</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:93.33pt\">denominated in US$.</span><span class=\"f charStyle-58d8bcbe ps25461\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Changes in ownership interests referred to, and included, the impact of the movement of 2025 of non-controlling</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:165.53pt\">interests and connected liabilities, as </span><span class=\"f charStyle-58d8bcbe ps25462\" style=\"width:30.55pt\">follows</span><span class=\"f charStyle-58d8bcbe ps25463\" style=\"width:2.77pt\">.</span></div><div class=\"ps9519 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:150pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:95.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss876\"><div><div class=\"ps13338 ss871\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11951 ss289\"><div><div class=\"ps2579 ss288\"><span class=\"f charStyle-40131897 ps176\">net result of the period</span><span class=\"f charStyle-85922b7e ps25464\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23234 ss1404\"><div><div class=\"ps2578 ss1403\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate of the <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss1403\"><span class=\"f charStyle-183bdf94 ps132\">period &amp; other </span></div><div class=\"ps2580 ss1403\"><span class=\"f charStyle-183bdf94 ps132\">movements &amp; dividends</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14685 ss1885\"><div><div class=\"ps5026 ss1822\"><span class=\"f charStyle-183bdf94 ps132\">put and/or call option <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss1822\"><span class=\"f charStyle-183bdf94 ps132\">measurement</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12317 ss1886\"><div><div class=\"ps2415 ss942\"><span class=\"f charStyle-183bdf94 ps132\">total reclassification to <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss942\"><span class=\"f charStyle-183bdf94 ps132\">Group equity</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25465 ss588\"><div><div class=\"ps2415 ss288\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25466 ss1406\"><div><div class=\"ps2415 ss1403\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21451 ss1825\"><div><div class=\"ps2415 ss1822\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25467 ss943\"><div><div class=\"ps2415 ss942\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps2968 ss879\"><div><div class=\"ps476 ss871\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness Trail Distillery, LLC<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25468 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24054\">(12.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25470 ss1406\"><div><div class=\"ps476 ss1403\"><span class=\"f charStyle-183bdf94 ps25469\">(17.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14754 ss1825\"><div><div class=\"ps476 ss1822\"><span class=\"f charStyle-183bdf94 ps25471\">15.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25473 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25472\">(14.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5727 ss879\"><div><div class=\"ps476 ss871\"><span class=\"f charStyle-183bdf94 ps132\">Changes in ownership interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25474 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24054\">(12.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25475 ss1406\"><div><div class=\"ps476 ss1403\"><span class=\"f charStyle-183bdf94 ps25469\">(17.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23920 ss1825\"><div><div class=\"ps476 ss1822\"><span class=\"f charStyle-183bdf94 ps25471\">15.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25476 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25472\">(14.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25477 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:437.61pt\">Excluding the net result of the period of Bellonnie et Bourdillon group equal to a loss of \u20ac0.4 million and Courvoisier Group (negligible results).</span></div><div class=\"ps25526 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:76.5pt\"></td><td style=\"padding:0;width:76.5pt\"></td><td style=\"padding:0;width:76.5pt\"></td><td style=\"padding:0;width:76.5pt\"></td><td style=\"padding:0;width:76.5pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1887\"><div><div class=\"ps13337 ss266\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps13338 ss266\"><span class=\"f charStyle-183bdf94 ps132\">2024</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25482 ss1889\"><div><div class=\"ps2578 ss1888\"><span class=\"f charStyle-183bdf94 ps25480\">reclassification of <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss1888\"><span class=\"f charStyle-183bdf94 ps20849\">initial non-controlling </span></div><div class=\"ps2580 ss1888\"><span class=\"f charStyle-183bdf94 ps25481\">interest value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12102 ss1889\"><div><div class=\"ps5026 ss1888\"><span class=\"f charStyle-40131897 ps12320\">net result of the </span></div><div class=\"ps5028 ss1888\"><span class=\"f charStyle-40131897 ps25483\">period</span><span class=\"f charStyle-85922b7e ps25484\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22417 ss1889\"><div><div class=\"ps5026 ss1888\"><span class=\"f charStyle-183bdf94 ps24214\">exchange rate of the <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss1888\"><span class=\"f charStyle-183bdf94 ps25485\">period</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23361 ss1889\"><div><div class=\"ps5026 ss1888\"><span class=\"f charStyle-183bdf94 ps5245\">put and/or call option <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss1888\"><span class=\"f charStyle-183bdf94 ps25486\">measurement</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8256 ss1889\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps17686\">total reclassification to <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss1888\"><span class=\"f charStyle-183bdf94 ps25487\">Group equity</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25488 ss1890\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps16144\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25489 ss1890\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps16144\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25490 ss1890\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps16144\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25491 ss1890\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps16144\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8269 ss1890\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps16144\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2968 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps132\">Ancho Reyes and Montelobos<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25493 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25495 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25496 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25498 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25497\">3.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25499 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25497\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5727 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps132\">Champagne Lallier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25500 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25501 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25502 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25503 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25504 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5196 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps132\">Trans Beverages Company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25505 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25506 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25507 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25508 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25509 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps924 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness Trail Distillery, LLC<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25510 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25511 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(4.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25513 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25512\">12.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25514 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25512\">43.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25515 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25512\">51.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps928 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps132\">Thirsty Camel Ltd.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25516 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25497\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25517 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25518 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25519 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25520 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6443 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps132\">Changes in ownership interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25521 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-ba8ac8da ps25497\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25522 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-ba8ac8da ps25494\">(8.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25523 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-ba8ac8da ps25512\">12.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25524 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-ba8ac8da ps25512\">46.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25525 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-ba8ac8da ps25512\">50.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:414.29pt\">Excluding the net result of the period of Bellonnie et Bourdillon group equal to \u20ac(0.3) million and Courvoisier Group (negligible results).</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-549": {
   "value": "<div class=\"ps24594 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Shareholders\u2019 Equity<span id=\"icd9d2b9934a24489a733c940a8ef9e47\"></span></span></div><div class=\"ps24596 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps24597 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.87pt\">Own shares (both ordinary and special voting shares) are reported as a reduction in shareholders\u2019 equity.</span></div><div class=\"ps24664 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:309.67pt\">Outstanding shares, own shares rights associated to the shares<span id=\"i18c52f4d1dee498584948b53ffffeaaf\"></span></span><span class=\"f charStyle-562c451e ps4884\" style=\"width:3.05pt\"> </span></div><div class=\"ps24666 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:50.37pt\">On 29 Oct</span><span class=\"f charStyle-58d8bcbe ps16008\" style=\"width:47.44pt\">ober 2024</span><span class=\"f charStyle-58d8bcbe ps24665\" style=\"width:398.39pt\"> Campari Group announced the launch of a share buyback program (the 'program'),</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps21944 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">coordinated by UBS Europe SE, in accordance with Article 5 of Regulation (EU) n.596/2014 and intended to<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24667 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">meet the obligations arising from the stock option plans and other share-based incentive plans, currently in force</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps24668 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">or to be adopted and whose beneficiaries are (or will be) employees or members of the administrative and/or</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps24669 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">management bodies of either the Company or other Campari Group's companies. The program was</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps24670 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">implemented in accordance with the resolution adopted by the Company\u2019s General Meeting held on April 11,</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps24671 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">2024, which authorised the Board of Directors to acquire, in one or more transactions, a maximum number of</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps24672 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">shares in the capital of the Company which, when added to the treasury shares already held by Campari, will</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps24673 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">not exceed the legal limit, for a period of 18 months, from 11 April 2024, to 11 October 2025 (the \u2018Authorisation\u2019).</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.59pt\"> </span></div><div class=\"ps10285 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">The Authorisation has also set out that purchases shall take place for (i) a minimum price, excluding expenses,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps20019 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">of the nominal value of Campari\u2019s shares, and (ii) a maximum price of an amount equal to 10% above the</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps15541 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">opening price on the day of acquisition of the share concerned. The program started on 30 October 2024 and</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps24674 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">ended on 25 September 2025. Pursuant to the program, the Company, coordinated by UBS Europe SE, bought</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps24675 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">7,033,285 shares at an average price of \u20ac5.6 per share and an amount of \u20ac39.6 million (the maximum value</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps24676 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">allocated to the program was \u20ac40.0 million to purchase a maximum amount of 8,000,000 shares). No share</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps24677 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:228.33pt\">buyback program was active at 31 December 2025.</span></div><div class=\"ps24681 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:354.41pt\">The following table shows the reconciliation between the number of outstanding </span><span class=\"f charStyle-58d8bcbe ps24678\" style=\"width:30.01pt\">shares</span><span class=\"f charStyle-58d8bcbe ps24679\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-58d8bcbe ps24680\" style=\"width:2.77pt\"> </span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:98.25pt\"></td><td style=\"padding:0;width:51pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:58.5pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:48pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9487 ss1858\"><div><div class=\"ps476 ss1676\"><span class=\"f charStyle-183bdf94 ps24683\">no. of shares<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24685 ss1860\"><div><div class=\"ps476 ss1859\"><span class=\"f charStyle-183bdf94 ps24684\">nominal value (\u20ac)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9488 ss442\"><div><div class=\"ps2776 ss429\"><span class=\"f charStyle-183bdf94 ps21057\">ordinary <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss429\"><span class=\"f charStyle-183bdf94 ps24686\">shares</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24688 ss667\"><div><div class=\"ps2776 ss655\"><span class=\"f charStyle-183bdf94 ps24687\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss655\"><span class=\"f charStyle-183bdf94 ps13589\">shares A</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps899 ss667\"><div><div class=\"ps2776 ss655\"><span class=\"f charStyle-183bdf94 ps24687\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss655\"><span class=\"f charStyle-183bdf94 ps18014\">shares B</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24689 ss1861\"><div><div class=\"ps979 ss463\"><span class=\"f charStyle-183bdf94 ps14434\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24692 ss667\"><div><div class=\"ps2776 ss655\"><span class=\"f charStyle-183bdf94 ps24690\">ordinary <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss655\"><span class=\"f charStyle-183bdf94 ps24691\">shares</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24693 ss667\"><div><div class=\"ps2776 ss655\"><span class=\"f charStyle-183bdf94 ps24687\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss655\"><span class=\"f charStyle-183bdf94 ps13589\">shares A</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12433 ss667\"><div><div class=\"ps2776 ss655\"><span class=\"f charStyle-183bdf94 ps24687\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss655\"><span class=\"f charStyle-183bdf94 ps18014\">shares B</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24695 ss667\"><div><div class=\"ps979 ss655\"><span class=\"f charStyle-183bdf94 ps24694\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss567\"><div><div class=\"ps1094 ss553\"><span class=\"f charStyle-183bdf94 ps132\">Outstanding shares at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss553\"><span class=\"f charStyle-183bdf94 ps132\">December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18655 ss442\"><div><div class=\"ps473 ss429\"><span class=\"f charStyle-183bdf94 ps11770\">1,202,504,501<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24696 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">40,456,589<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps482 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24697\">593,981,404<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18657 ss1861\"><div><div class=\"ps473 ss463\"><span class=\"f charStyle-183bdf94 ps24698\">1,836,942,494<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24699 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">12,025,045<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24701 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24700\">404,566<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12444 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">23,759,256<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24702 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">36,188,867<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"padding:0\"><div class=\"ps7311 ss560\"><div><div class=\"ps13336 ss553\"><span class=\"f charStyle-183bdf94 ps132\">Ordinary shares repurchased <span class=\"f ps21\"> </span></span></div><div class=\"ps13337 ss553\"><span class=\"f charStyle-183bdf94 ps132\">under share repurchase <span class=\"f ps21\"> </span></span></div><div class=\"ps13338 ss553\"><span class=\"f charStyle-183bdf94 ps132\">program</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24704 ss1862\"><div><div class=\"ps13338 ss429\"><span class=\"f charStyle-183bdf94 ps24703\">(5,953,865)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7313 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8573 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24705 ss1864\"><div><div class=\"ps13338 ss463\"><span class=\"f charStyle-183bdf94 ps24690\">(5,953,865)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24707 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24706\">(59,539)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24708 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24709 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24710 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24706\">(59,539)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5743 ss567\"><div><div class=\"ps1094 ss553\"><span class=\"f charStyle-183bdf94 ps132\">Ordinary shares assigned <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss553\"><span class=\"f charStyle-183bdf94 ps132\">under share-based programs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24711 ss442\"><div><div class=\"ps473 ss429\"><span class=\"f charStyle-183bdf94 ps11777\">2,234,710<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24712 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24713 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24715 ss1861\"><div><div class=\"ps473 ss463\"><span class=\"f charStyle-183bdf94 ps24714\">2,234,710<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24717 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24716\">22,347<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24718 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24719 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24720 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24716\">22,347<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"padding:0\"><div class=\"ps8706 ss560\"><div><div class=\"ps13336 ss553\"><span class=\"f charStyle-40131897 ps132\">Conversion from special </span></div><div class=\"ps13337 ss553\"><span class=\"f charStyle-40131897 ps132\">voting shares A to special </span></div><div class=\"ps13338 ss553\"><span class=\"f charStyle-40131897 ps132\">voting shares B</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24721 ss1862\"><div><div class=\"ps13338 ss429\"><span class=\"f charStyle-183bdf94 ps11784\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24723 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24722\">(3,090)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24725 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24724\">3,090<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24726 ss1864\"><div><div class=\"ps13338 ss463\"><span class=\"f charStyle-183bdf94 ps20450\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24727 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24729 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24728\">(31)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24731 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24730\">124<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24733 ss1863\"><div><div class=\"ps13338 ss655\"><span class=\"f charStyle-183bdf94 ps24732\">93<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5572 ss567\"><div><div class=\"ps1094 ss553\"><span class=\"f charStyle-183bdf94 ps132\">Special voting shares <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss553\"><span class=\"f charStyle-183bdf94 ps132\">allocation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24734 ss442\"><div><div class=\"ps473 ss429\"><span class=\"f charStyle-183bdf94 ps11784\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24736 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24735\">(8,753,499)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24737 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24722\">(1,560)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24738 ss1861\"><div><div class=\"ps473 ss463\"><span class=\"f charStyle-183bdf94 ps24690\">(8,755,059)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24739 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24740 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24706\">(87,535)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24741 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24728\">(62)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24742 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24706\">(87,597)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5586 ss567\"><div><div class=\"ps1094 ss553\"><span class=\"f charStyle-183bdf94 ps132\">Outstanding shares at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss553\"><span class=\"f charStyle-183bdf94 ps132\">December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24743 ss442\"><div><div class=\"ps473 ss429\"><span class=\"f charStyle-183bdf94 ps11770\">1,198,785,346<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24744 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">31,700,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24745 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24697\">593,982,934<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24746 ss1861\"><div><div class=\"ps473 ss463\"><span class=\"f charStyle-183bdf94 ps24698\">1,824,468,280<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24747 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps14688\">11,987,853<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24748 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps24700\">317,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24749 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">23,759,317<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24750 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">36,064,171<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps953 ss554\"><div><div class=\"ps476 ss553\"><span class=\"f charStyle-183bdf94 ps132\">Total own shares held<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24752 ss860\"><div><div class=\"ps476 ss429\"><span class=\"f charStyle-183bdf94 ps24751\">32,482,392<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24753 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps13745\">39,993,848<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps954 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps24716\">41,560<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24754 ss1865\"><div><div class=\"ps476 ss463\"><span class=\"f charStyle-183bdf94 ps23495\">72,517,800<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24755 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps24700\">324,824<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24756 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps24700\">399,938<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24757 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps24724\">1,662<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24758 ss976\"><div><div class=\"ps476 ss655\"><span class=\"f charStyle-183bdf94 ps24700\">726,425<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps956 ss567\"><div><div class=\"ps1094 ss553\"><span class=\"f charStyle-183bdf94 ps132\">Own shares as a % total <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss553\"><span class=\"f charStyle-183bdf94 ps132\">respective shares</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24760 ss442\"><div><div class=\"ps473 ss429\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24759\"></span><span class=\"ps24759\">2.64%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24762 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24761\"></span><span class=\"ps24761\">55.78%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps957 ss667\"><div><div class=\"ps473 ss655\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24763\"></span><span class=\"ps24763\">0.01%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24765 ss1861\"><div><div class=\"ps473 ss463\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24764\"></span><span class=\"ps24764\">3.82%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps24846 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:99.75pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:44.25pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8947 ss1858\"><div><div class=\"ps476 ss1676\"><span class=\"f charStyle-183bdf94 ps24683\">no. of shares<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11956 ss1867\"><div><div class=\"ps476 ss1866\"><span class=\"f charStyle-183bdf94 ps24766\">nominal value (\u20ac)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24768 ss252\"><div><div class=\"ps2776 ss182\"><span class=\"f charStyle-183bdf94 ps20839\">ordinary <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss182\"><span class=\"f charStyle-183bdf94 ps24767\">shares</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23699 ss445\"><div><div class=\"ps2776 ss433\"><span class=\"f charStyle-183bdf94 ps24769\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss433\"><span class=\"f charStyle-183bdf94 ps24770\">shares A</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24773 ss1398\"><div><div class=\"ps2776 ss1397\"><span class=\"f charStyle-183bdf94 ps24771\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1397\"><span class=\"f charStyle-183bdf94 ps24772\">shares B</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15494 ss445\"><div><div class=\"ps979 ss433\"><span class=\"f charStyle-183bdf94 ps24385\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24775 ss230\"><div><div class=\"ps2776 ss44\"><span class=\"f charStyle-183bdf94 ps14687\">ordinary <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss44\"><span class=\"f charStyle-183bdf94 ps24774\">shares</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24776 ss1398\"><div><div class=\"ps2776 ss1397\"><span class=\"f charStyle-183bdf94 ps24771\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1397\"><span class=\"f charStyle-183bdf94 ps5189\">shares A</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24777 ss1398\"><div><div class=\"ps2776 ss1397\"><span class=\"f charStyle-183bdf94 ps24771\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1397\"><span class=\"f charStyle-183bdf94 ps24772\">shares B</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24779 ss1398\"><div><div class=\"ps979 ss1397\"><span class=\"f charStyle-183bdf94 ps24778\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss848\"><div><div class=\"ps1094 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Outstanding shares at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss844\"><span class=\"f charStyle-183bdf94 ps132\">December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11816 ss252\"><div><div class=\"ps473 ss182\"><span class=\"f charStyle-183bdf94 ps12110\">1,131,982,258<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11963 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps20436\">40,657,598<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22586 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps8010\">594,001,404<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15496 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps24780\">1,766,641,260<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11965 ss230\"><div><div class=\"ps473 ss44\"><span class=\"f charStyle-183bdf94 ps24781\">11,319,823<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24782 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps22822\">406,576<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24783 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps22820\">23,760,056<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24784 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps22820\">35,486,455<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps7311 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Issue of new ordinary shares<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24785 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps23709\">69,667,738<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24786 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24787 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24788 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps20436\">69,667,738<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24789 ss45\"><div><div class=\"ps476 ss44\"><span class=\"f charStyle-183bdf94 ps11962\">696,677<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps5190 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24790 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24791 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps22822\">696,677<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:27.75pt\"><td style=\"padding:0\"><div class=\"ps15164 ss1053\"><div><div class=\"ps13336 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Ordinary shares repurchased <span class=\"f ps21\"> </span></span></div><div class=\"ps13337 ss844\"><span class=\"f charStyle-183bdf94 ps132\">under share repurchase <span class=\"f ps21\"> </span></span></div><div class=\"ps13338 ss844\"><span class=\"f charStyle-183bdf94 ps132\">program</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24793 ss1654\"><div><div class=\"ps13338 ss182\"><span class=\"f charStyle-183bdf94 ps24792\">(1,079,420)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24794 ss1868\"><div><div class=\"ps13338 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24795 ss1869\"><div><div class=\"ps13338 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24796 ss1868\"><div><div class=\"ps13338 ss433\"><span class=\"f charStyle-183bdf94 ps5172\">(1,079,420)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24798 ss454\"><div><div class=\"ps13338 ss44\"><span class=\"f charStyle-183bdf94 ps24797\">(10,794)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24799 ss1869\"><div><div class=\"ps13338 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24800 ss1869\"><div><div class=\"ps13338 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24802 ss1869\"><div><div class=\"ps13338 ss1397\"><span class=\"f charStyle-183bdf94 ps24801\">(10,794)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps5244 ss848\"><div><div class=\"ps1094 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Ordinary shares assigned <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss844\"><span class=\"f charStyle-183bdf94 ps132\">under share-based programs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24803 ss252\"><div><div class=\"ps473 ss182\"><span class=\"f charStyle-183bdf94 ps23072\">1,933,925<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24804 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps491\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24805 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24807 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps24806\">1,933,925<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24808 ss230\"><div><div class=\"ps473 ss44\"><span class=\"f charStyle-183bdf94 ps11969\">19,339<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps5253 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24809 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps16553\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24811 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps24810\">19,339<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps2982 ss848\"><div><div class=\"ps1094 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Special voting shares <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss844\"><span class=\"f charStyle-183bdf94 ps132\">allocation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24812 ss252\"><div><div class=\"ps473 ss182\"><span class=\"f charStyle-183bdf94 ps20956\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24813 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps22824\">(201,009)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24814 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps24801\">(20,000)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24815 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps22824\">(221,009)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24816 ss230\"><div><div class=\"ps473 ss44\"><span class=\"f charStyle-183bdf94 ps7586\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24817 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps24110\">(2,010)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24819 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps24818\">(800)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24820 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps24110\">(2,810)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12863 ss848\"><div><div class=\"ps1094 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Outstanding shares at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss844\"><span class=\"f charStyle-183bdf94 ps132\">December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24821 ss252\"><div><div class=\"ps473 ss182\"><span class=\"f charStyle-183bdf94 ps12110\">1,202,504,501<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24822 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps20436\">40,456,589<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24823 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps8010\">593,981,404<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24824 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94 ps24780\">1,836,942,494<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24826 ss230\"><div><div class=\"ps473 ss44\"><span class=\"f charStyle-183bdf94 ps24825\">12,025,045<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24827 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps22822\">404,566<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24828 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps22820\">23,759,256<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24829 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94 ps22820\">36,188,867<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18275 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Total own shares held<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24830 ss183\"><div><div class=\"ps476 ss182\"><span class=\"f charStyle-183bdf94 ps23709\">28,763,237<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24831 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps20436\">31,240,349<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24832 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps24810\">40,000<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24833 ss434\"><div><div class=\"ps476 ss433\"><span class=\"f charStyle-183bdf94 ps20436\">60,043,586<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24834 ss45\"><div><div class=\"ps476 ss44\"><span class=\"f charStyle-183bdf94 ps11962\">287,632<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24835 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps22822\">312,403<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24836 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps16566\">1,600<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24837 ss1399\"><div><div class=\"ps476 ss1397\"><span class=\"f charStyle-183bdf94 ps22822\">601,636<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps20623 ss848\"><div><div class=\"ps1094 ss844\"><span class=\"f charStyle-183bdf94 ps132\">Own shares as a % total <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss844\"><span class=\"f charStyle-183bdf94 ps132\">respective shares</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24839 ss252\"><div><div class=\"ps473 ss182\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24838\"></span><span class=\"ps24838\">2.34%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24841 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24840\"></span><span class=\"ps24840\">43.57%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24843 ss1398\"><div><div class=\"ps473 ss1397\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24842\"></span><span class=\"ps24842\">0.01%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps24845 ss445\"><div><div class=\"ps473 ss433\"><span class=\"f charStyle-183bdf94\"><span class=\"ps24844\"></span><span class=\"ps24844\">3.17%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps24848 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">In terms of ordinary shares, between 1 January and 31 December 2025, Davide Campari-Milano N.V.</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24849 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">transferred 2,215,990 shares with no cash inflow effect, in the context of the exercise of the existing share-</span></div><div class=\"ps21009 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">based plans covering the medium- and long-term horizon and sold 18,720 for an immaterial cash inflow,</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps24850 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">corresponding to the average exercise price multiplied by the number of own shares sold to stock option</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps24854 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:225.42pt\">beneficiaries. In the same period and through the </span><span class=\"f charStyle-58d8bcbe ps24851\" style=\"width:106.38pt\">share buyback program</span><span class=\"f charStyle-58d8bcbe ps24852\" style=\"width:119.94pt\">, the Company purchased </span><span class=\"f charStyle-58d8bcbe ps24853\" style=\"width:44.46pt\">5,953,865</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24855 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">shares at an average price of \u20ac5.63, for a total amount of \u20ac33.5 million (the amount includes \u20ac0.4 million liability</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps24858 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:229.08pt\">in connection with the share buyback program). </span><span class=\"f charStyle-58d8bcbe ps24856\" style=\"width:104.45pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps24857\" style=\"width:162.58pt\">, Davide Campari-Milano N.V. held<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps22529 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:50.02pt\">32,482,392</span><span class=\"f charStyle-58d8bcbe ps24859\" style=\"width:118.87pt\"> own shares, equivalent to </span><span class=\"f charStyle-58d8bcbe ps6257\" style=\"width:22.78pt\">2.6%</span><span class=\"f charStyle-58d8bcbe ps24860\" style=\"width:89.97pt\"> of the share capital.</span><span class=\"f charStyle-58d8bcbe ps6825\" style=\"width:2.77pt\"> </span></div><div class=\"ps24861 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">The following table shows changes in the number and value of ordinary own shares held during the periods</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps24862 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:51.68pt\">considered.</span></div><div class=\"ps24882 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:162pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:84pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24865 ss1870\"><div><div class=\"ps476 ss1841\"><span class=\"f charStyle-183bdf94 ps24864\">no. of ordinary shares held<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13067 ss1871\"><div><div class=\"ps476 ss1354\"><span class=\"f charStyle-183bdf94 ps24866\">value (\u20ac million)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4502 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps24867\">31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24689 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps24867\">31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24868 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps24867\">31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18329 ss387\"><div><div class=\"ps485 ss385\"><span class=\"f charStyle-183bdf94 ps19593\">31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss203\"><div><div class=\"ps476 ss202\"><span class=\"f charStyle-183bdf94 ps132\">Balance at 1 January<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4508 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24869\">28,763,237<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24870 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24869\">29,617,742<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24871 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">294.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18349 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">306.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss203\"><div><div class=\"ps476 ss202\"><span class=\"f charStyle-183bdf94 ps132\">Purchases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps4522 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19881\">5,953,865<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24872 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19881\">1,079,420<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps24873 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23823\">33.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22729 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6580\">6.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss203\"><div><div class=\"ps476 ss202\"><span class=\"f charStyle-183bdf94 ps132\">Assigned<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps4534 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24874\">(2,234,710)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24875 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24874\">(1,933,925)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps24876 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24054\">(21.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19603 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6754\">(18.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss203\"><div><div class=\"ps476 ss202\"><span class=\"f charStyle-183bdf94 ps132\">Final balance<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24877 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24869\">32,482,392<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24878 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24869\">28,763,237<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24879 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps19872\">306.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19611 ss387\"><div><div class=\"ps476 ss385\"><span class=\"f charStyle-183bdf94 ps6566\">294.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss203\"><div><div class=\"ps476 ss202\"><span class=\"f charStyle-183bdf94 ps132\">% of share capital<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24880 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94\"><span class=\"ps5118\"></span><span class=\"ps5118\">2.64</span><span class=\"ps5062\">%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24881 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94\"><span class=\"ps5118\"></span><span class=\"ps5118\">2.34</span><span class=\"ps5062\">%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps24883 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">With reference to special voting shares, between 1 January and 31 December 2025 the Company allocated</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps24676 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:44.46pt\">8,753,499</span><span class=\"f charStyle-58d8bcbe ps24884\" style=\"width:451.65pt\"> special voting shares A to the treasury shares reserve. This resulted from disposals of outstanding</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps24885 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">ordinary shares having corresponding special voting shares. During the same period the Company allocated</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps12507 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:25.01pt\">1,560</span><span class=\"f charStyle-58d8bcbe ps7137\" style=\"width:86.54pt\"> special voting shar</span><span class=\"f charStyle-58d8bcbe ps865\" style=\"width:23.42pt\">es B </span><span class=\"f charStyle-58d8bcbe ps4878\" style=\"width:156.96pt\">to the treasury shares reserve and </span><span class=\"f charStyle-58d8bcbe ps24886\" style=\"width:25.01pt\">3,090</span><span class=\"f charStyle-58d8bcbe ps24887\" style=\"width:179.19pt\"> special voting shares B to shareholders</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps24888 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">entitled to achieve the related special voting rights which has been derived from the dedicated special capital</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps24889 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">reserve. During the period, no cancellation of the treasury special voting shares was resolved by the</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps24890 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:174.99pt\">Shareholders\u2019 Meeting of the Company.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-548": {
   "value": "<div class=\"ps24594 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Shareholders\u2019 Equity<span id=\"icd9d2b9934a24489a733c940a8ef9e47\"></span></span></div><div class=\"ps24596 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps24597 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:463.87pt\">Own shares (both ordinary and special voting shares) are reported as a reduction in shareholders\u2019 equity.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-547": {
   "value": "<div class=\"ps24594 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Shareholders\u2019 Equity<span id=\"icd9d2b9934a24489a733c940a8ef9e47\"></span></span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:169.18pt\">Issued capital and capital structure<span id=\"if73501c67fd04f5ea383ca611917bb5a\"></span></span></div><div class=\"ps1255 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:223.34pt\">The issued capital of Davide Campari-Milano N.V. </span><span class=\"f charStyle-58d8bcbe ps24604\" style=\"width:96.3pt\">at 31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps24605\" style=\"width:176.5pt\"> is represented in the following table, no</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps4091 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">movements occurred during the year 2025 in the composition of the issued capital. Both ordinary and special</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17854 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">voting shares A have a nominal value of \u20ac0.01 each, while special voting shares B have a nominal value of</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps17855 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:173.14pt\">\u20ac0.04 each. The ordinary share capital <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps24606\" style=\"width:96.12pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps24607\" style=\"width:79.44pt\"> is 12,312,677.38.</span><span class=\"f charStyle-58d8bcbe ps24608\" style=\"width:2.77pt\"> </span></div><div class=\"ps24640 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:81.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:51.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24610 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-183bdf94 ps24609\">no. of shares<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19293 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-183bdf94 ps24611\">nominal value (\u20ac)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24612 ss261\"><div><div class=\"ps1094 ss254\"><span class=\"f charStyle-183bdf94 ps13328\">ordinary <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps21984\">shares</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24613 ss261\"><div><div class=\"ps1094 ss254\"><span class=\"f charStyle-183bdf94 ps17826\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7989\">shares A</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24615 ss261\"><div><div class=\"ps1094 ss254\"><span class=\"f charStyle-183bdf94 ps17826\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24614\">shares B</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24617 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24616\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6978 ss261\"><div><div class=\"ps2776 ss254\"><span class=\"f charStyle-183bdf94 ps13328\">ordinary <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss254\"><span class=\"f charStyle-183bdf94 ps21984\">shares</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24618 ss261\"><div><div class=\"ps2776 ss254\"><span class=\"f charStyle-183bdf94 ps17826\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss254\"><span class=\"f charStyle-183bdf94 ps7989\">shares A</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11811 ss261\"><div><div class=\"ps2776 ss254\"><span class=\"f charStyle-183bdf94 ps17826\">special voting <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss254\"><span class=\"f charStyle-183bdf94 ps24614\">shares B</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23609 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24616\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1844\"><div><div class=\"ps1094 ss1843\"><span class=\"f charStyle-183bdf94 ps132\">Share capital at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1843\"><span class=\"f charStyle-183bdf94 ps132\">December 2024</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24620 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24619\">1,231,267,738<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16083 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">71,696,938<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1001 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24621\">594,021,404<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24622 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24619\">1,896,986,080<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19297 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">12,312,677<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24623 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps8016\">716,969<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11827 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">23,760,856<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24624 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">36,790,503<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:29.25pt\"><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7311 ss1856\"><div><div class=\"ps17689 ss1843\"><span class=\"f charStyle-183bdf94 ps132\">Conversion from Special <span class=\"f ps21\"> </span></span></div><div class=\"ps17690 ss1843\"><span class=\"f charStyle-183bdf94 ps132\">voting shares A to </span></div><div class=\"ps17691 ss1843\"><span class=\"f charStyle-183bdf94 ps132\">Special voting shares B</span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24625 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps6332\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24627 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps24626\">(3,090)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24628 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps19438\">3,090<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24629 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps6332\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5187 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps6332\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24630 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps11974\">(31)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24631 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps18689\">124<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24632 ss1857\"><div><div class=\"ps17691 ss254\"><span class=\"f charStyle-183bdf94 ps4032\">93<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps1159 ss1844\"><div><div class=\"ps1094 ss1843\"><span class=\"f charStyle-183bdf94 ps132\">Share capital at 31 <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1843\"><span class=\"f charStyle-183bdf94 ps132\">December 2025</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps24633 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24619\">1,231,267,738<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps24634 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">71,693,848<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps24635 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24621\">594,024,494<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps24636 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps24619\">1,896,986,080<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps5237 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">12,312,677<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps24637 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps8016\">716,938<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps24638 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">23,760,980<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps24639 ss261\"><div><div class=\"ps473 ss254\"><span class=\"f charStyle-183bdf94 ps7972\">36,790,596<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24642 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">To foster the involvement of a stable base of long-term (loyal) shareholders, the Company\u2019s Articles of</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.22pt\"> </span></div><div class=\"ps12203 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Association (\u2018Articles of Association\u2019) were amended to adopt a mechanism based on the assignment to loyal</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24643 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">shareholders of special voting shares, to which multiple voting rights are attached, in addition to the one granted<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24644 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">by ordinary shares (the \u2018Special Voting Mechanism\u2019). The Special Voting Mechanism entails the possibility of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24645 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">assigning to loyal, long-term shareholders: (i) two voting rights for each Campari ordinary share held for an</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps24646 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">uninterrupted period of two years, through the assignment of a special voting share A (\u2018Special Voting Share A\u2019)<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24647 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">with a nominal value of \u20ac0.01 each; (ii) five voting rights for each ordinary share held for an uninterrupted period</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps24648 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">of five years, through the assignment of a special voting share B (\u2018Special Voting Share B\u2019) with a nominal value</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps24649 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">of \u20ac0.04 each and (iii) ten voting rights for each ordinary share held for an uninterrupted period of ten years</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24650 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">(\u2018Special Voting Share C\u2019) with a nominal value of \u20ac0.09 each. The features of the Special Voting Shares (A, B,</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps24651 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">C) are described in the Articles of Association, as well as in the terms and conditions for Special Voting Shares</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps24652 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:359.54pt\">(\u2018SVS Terms\u2019). The Special Voting Shares are not tradable on a regulated market.</span></div><div class=\"ps24653 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">The Company established a separate special capital reserve for the purpose of satisfying obligations related to</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps24654 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">special voting shares. At the board's discretion, special voting shares may be issued using the funds from the</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps24655 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:385.49pt\">special capital reserve, in lieu of an actual monetary payment for the respective shares.<span class=\"f ps21\"> </span></span></div><div class=\"ps24657 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">The features of the special voting shares (which can be A, B, C depending on the voting rights assigned) are</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps24658 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">described in the articles of association as well as in the terms and conditions for special voting shares (\u2018SVS</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.59pt\"> </span></div><div class=\"ps24659 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Terms\u2019). The special voting shares are not tradable on a regulated market. The special voting mechanism and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps24660 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">the features of the special voting shares have also been described in the governance section under</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps24662 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e0cd7021 ps56\" style=\"width:106.67pt\"><a class=\"Hyperlink\" href=\"https://www.camparigroup.com/en/page/investors/transfer-registered-office\" style=\"z-index:1\">www.camparigroup.com</a><span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps24661\" style=\"width:2.77pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-546": {
   "value": "<div class=\"ps24594 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Shareholders\u2019 Equity<span id=\"icd9d2b9934a24489a733c940a8ef9e47\"></span></span></div><div class=\"ps1253 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:51.31pt\">Dividends <span id=\"ib2764f326e674b928ee4fb589296d586\"></span></span><span class=\"f charStyle-562c451e ps596\" style=\"width:45.82pt\">proposed</span></div><div class=\"ps1254 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:351.1pt\">The table below shows the dividends proposed for the year and previous years.</span></div><div class=\"ps21052 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:262.5pt\"></td><td style=\"padding:0;width:90.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:66.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24893 ss1873\"><div><div class=\"ps476 ss215\"><span class=\"f charStyle-183bdf94 ps24892\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23238 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps912\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24894 ss369\"><div><div class=\"ps476 ss366\"><span class=\"f charStyle-183bdf94 ps11709\">2023<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24896 ss1873\"><div><div class=\"ps476 ss215\"><span class=\"f charStyle-183bdf94 ps24895\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24898 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps24897\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps15090 ss369\"><div><div class=\"ps476 ss366\"><span class=\"f charStyle-183bdf94 ps24899\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1874\"><div><div class=\"ps476 ss1872\"><span class=\"f charStyle-183bdf94 ps132\">Dividend per share proposed<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24901 ss1873\"><div><div class=\"ps476 ss215\"><span class=\"f charStyle-183bdf94 ps24900\">0.100<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24902 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps14917\">0.065<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4048 ss369\"><div><div class=\"ps476 ss366\"><span class=\"f charStyle-183bdf94 ps6417\">0.065<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24904 ss1873\"><div><div class=\"ps476 ss215\"><span class=\"f charStyle-183bdf94 ps24903\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24905 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps22420\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4071 ss369\"><div><div class=\"ps476 ss366\"><span class=\"f charStyle-183bdf94 ps6406\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1874\"><div><div class=\"ps476 ss1872\"><span class=\"f charStyle-183bdf94 ps132\">Total amount proposed<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24906 ss1873\"><div><div class=\"ps476 ss215\"><span class=\"f charStyle-183bdf94 ps7468\">119.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24907 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps20615\">78.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24908 ss369\"><div><div class=\"ps476 ss366\"><span class=\"f charStyle-183bdf94 ps11729\">78.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1874\"><div><div class=\"ps476 ss1872\"><span class=\"f charStyle-183bdf94 ps132\">of which, to owners of the Parent<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps24909 ss1873\"><div><div class=\"ps476 ss215\"><span class=\"f charStyle-183bdf94 ps7468\">119.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24910 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps20615\">78.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24911 ss369\"><div><div class=\"ps476 ss366\"><span class=\"f charStyle-183bdf94 ps11729\">78.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1874\"><div><div class=\"ps476 ss1872\"><span class=\"f charStyle-183bdf94 ps132\">of which, to non-controlling interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24913 ss1873\"><div><div class=\"ps476 ss215\"><span class=\"f charStyle-183bdf94 ps24912\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24914 ss1238\"><div><div class=\"ps476 ss374\"><span class=\"f charStyle-183bdf94 ps3323\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24916 ss369\"><div><div class=\"ps476 ss366\"><span class=\"f charStyle-183bdf94 ps24915\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24918 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">The dividend submitted for the approval of the General Meeting of Shareholders called to approve the financial</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps24921 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:244pt\">statements for the year ended 31 December 2025 is \u20ac</span><span class=\"f charStyle-58d8bcbe ps24919\" style=\"width:24.27pt\">119.9</span><span class=\"f charStyle-58d8bcbe ps24920\" style=\"width:227.87pt\"> million, calculated based on shares outstanding at</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps24924 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:267.24pt\">31 December 2025 (for information purposes, based on the </span><span class=\"f charStyle-58d8bcbe ps24922\" style=\"width:50.02pt\">32,482,392</span><span class=\"f charStyle-58d8bcbe ps24923\" style=\"width:178.97pt\"> own shares held at 31 December 2025,</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps24927 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:174.62pt\">the shares outstanding amounted to </span><span class=\"f charStyle-58d8bcbe ps24925\" style=\"width:63.91pt\">1,198,785,346<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps24926\" style=\"width:257.66pt\">). The dividend will be recalculated based on the total</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps24928 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">number of outstanding shares as of the coupon detachment date. The proposed dividend for the period is</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps24929 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:5.56pt\">\u20ac<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps7136\" style=\"width:25.01pt\">0.100<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps7139\" style=\"width:465.6pt\"> per share, with a +53.8% increase versus previous year (\u20ac0.065 per share). Campari Group has</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps24930 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">regularly paid a cash dividend since its initial public offering in 2001 with a progressive increase. As the Group</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps24931 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">maintains its strong focus on business growth, several factors have allowed the Group to step-up its dividend</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps24932 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">payout to bring it closer to industry norms. Firstly, the Group\u2019s new strategy of focusing on fewer bigger bets with</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps14186 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">less relevance of bolt-on acquisitions means there is a new capital allocation rationale. At the same time, the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps24933 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Group is deleveraging faster than planned and is confident in ensuring comfortable leverage levels going</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps24934 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">forward as the extraordinary capex program comes to an end. This step-up in dividend payment will allow the</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps24935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Group to provide its shareholders with a more balanced total shareholder return, also through an increased</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps24937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:268.1pt\">contribution from dividends while retaining financial flexibility.</span><span class=\"f charStyle-58d8bcbe ps24936\" style=\"width:2.77pt\"> </span></div><div class=\"ps24939 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:72.08pt\">Dividends paid<span id=\"i405871ee0a754d2f9e544023dd5bee33\"></span></span></div><div class=\"ps24940 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:451.11pt\">The following table shows the dividends paid during the period and previous years on ordinary shares.</span></div><div class=\"ps24950 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:207pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24942 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2981\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14812 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2981\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24943 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2981\">2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24944 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2981\">2022<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7284 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps2981\">2021<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1580\"><div><div class=\"ps485 ss262\"><span class=\"f charStyle-183bdf94 ps132\">dividend per share paid (\u20ac)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6316 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">0.065<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22657 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">0.065<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24945 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">0.060<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24946 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">0.060<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7293 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">0.055<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps906 ss1580\"><div><div class=\"ps485 ss262\"><span class=\"f charStyle-183bdf94 ps132\">total amount (\u20ac million)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6328 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">78.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps22660 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">78.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps24947 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">67.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps24948 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">67.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps24949 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">61.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps24952 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">On 16 April 2025, the Annual General Meeting approved the distribution of a dividend per share of \u20ac0.065 for</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps24953 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:385.86pt\">2024. The dividend payment date was 24 April 2025, for a total amount of \u20ac78.0 million.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDividendsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-545": {
   "value": "<div class=\"ps24594 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Shareholders\u2019 Equity<span id=\"icd9d2b9934a24489a733c940a8ef9e47\"></span></span></div><div><div id=\"ie3b68c32b5114a90ac1b831374b8108c_1180\" style=\"position:absolute;top:56.69pt\"></div><div class=\"ps1253 ss1036\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-562c451e ps1250\" style=\"width:351.79pt\">Other reserves and retained earnings attributable to Group shareholders<span id=\"i9e77cdeb3efa4837bd0fb78d3c71c41a\"></span></span></div><div class=\"ps21052 ss1036\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1051 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:195.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23897 ss1512\"><div><div class=\"ps476 ss1511\"><span class=\"f charStyle-ba8ac8da ps24954\">equity reserves<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"7\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24956 ss1768\"><div><div class=\"ps476 ss1767\"><span class=\"f charStyle-ba8ac8da ps24955\">retained earnings and other reserves<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5476 ss530\"><div><div class=\"ps2374 ss273\"><span class=\"f charStyle-183bdf94 ps24957\">cash flow <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss273\"><span class=\"f charStyle-183bdf94 ps24958\">hedge</span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24960 ss1612\"><div><div class=\"ps2974 ss180\"><span class=\"f charStyle-183bdf94 ps24959\">currency <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps22023\">translation\u00a0 </span></div><div class=\"ps2976 ss180\"><span class=\"f charStyle-183bdf94 ps18350\">differences<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24961 ss1612\"><div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps18449\">hyperinflation<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1085 ss1612\"><div><div class=\"ps2372 ss180\"><span class=\"f charStyle-183bdf94 ps24962\">remeasurem<span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps24963\">ent of </span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps24205\">defined </span></div><div class=\"ps2378 ss180\"><span class=\"f charStyle-183bdf94 ps8943\">benefit plans<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-right:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5480 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-ba8ac8da ps6396\">total equity <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-ba8ac8da ps6475\">reserves</span></div></div></div></td><td rowspan=\"2\" style=\"border-left:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24965 ss1876\"><div><div class=\"ps2974 ss1233\"><span class=\"f charStyle-183bdf94 ps24964\">treasury <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss1233\"><span class=\"f charStyle-183bdf94 ps24964\">ordinary </span></div><div class=\"ps2976 ss1233\"><span class=\"f charStyle-183bdf94 ps16482\">shares</span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24967 ss1612\"><div><div class=\"ps2974 ss180\"><span class=\"f charStyle-183bdf94 ps24966\">treasury <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps24101\">special </span></div><div class=\"ps2976 ss180\"><span class=\"f charStyle-183bdf94 ps10248\">voting shares</span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24968 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps18045\">share-based <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps23797\">payments</span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24969 ss535\"><div><div class=\"ps1083 ss179\"><span class=\"f charStyle-183bdf94 ps24698\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24970 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-40131897 ps20562\">share </span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-40131897 ps6685\">premium</span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24971 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps24966\">retained <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps24959\">earnings</span></div></div></div></td><td rowspan=\"2\" style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24973 ss1612\"><div><div class=\"ps2372 ss180\"><span class=\"f charStyle-ba8ac8da ps502\">total <span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss180\"><span class=\"f charStyle-ba8ac8da ps6685\">retained </span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-ba8ac8da ps19592\">earnings </span></div><div class=\"ps2378 ss180\"><span class=\"f charStyle-ba8ac8da ps24972\">and other</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps10737 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1089 ss1878\"><div><div class=\"ps473 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024 Campari Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5484 ss540\"><div><div class=\"ps473 ss273\"><span class=\"f charStyle-ba8ac8da ps24974\">6.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24975 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(113.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24977 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">80.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1092 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">2.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5490 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(23.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24978 ss1401\"><div><div class=\"ps473 ss1233\"><span class=\"f charStyle-ba8ac8da ps23079\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24979 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24980 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">71.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24981 ss381\"><div><div class=\"ps473 ss179\"><span class=\"f charStyle-ba8ac8da ps23719\">33.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24982 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">642.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24983 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,093.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps24984 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,841.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps4163 ss1878\"><div><div class=\"ps1094 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Cost of share-based payments <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">for the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24985 ss540\"><div><div class=\"ps473 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24986 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24987 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps15811 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps4173 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24988 ss1401\"><div><div class=\"ps473 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24989 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24990 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24991 ss381\"><div><div class=\"ps473 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24992 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24993 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24994 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps4628 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Share based instruments exercise, cancellation or expired<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps5537 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24995 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24415 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24996 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps5544 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24997 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24998 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24999 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(29.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25000 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25001 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25002 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">29.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25003 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps6894 ss1878\"><div><div class=\"ps1094 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Profits (losses) <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">allocated to shareholders' equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25004 ss540\"><div><div class=\"ps473 ss273\"><span class=\"f charStyle-183bdf94 ps4114\">(2.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25005 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps24421 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps12741 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps23680\">1.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25006 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25007 ss1401\"><div><div class=\"ps473 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25008 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25009 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25010 ss381\"><div><div class=\"ps473 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25011 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25012 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25013 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps8719 ss1878\"><div><div class=\"ps1094 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Tax effect <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">recognised in shareholders' equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25014 ss540\"><div><div class=\"ps473 ss273\"><span class=\"f charStyle-183bdf94 ps24974\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25015 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25016 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25017 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25018 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25019 ss1401\"><div><div class=\"ps473 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25020 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25021 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25022 ss381\"><div><div class=\"ps473 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25023 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25024 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25025 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14175 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Translation difference<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25026 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25027 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps19583\">(239.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25028 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25029 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25030 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(239.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25031 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25032 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25033 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25034 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25035 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25036 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25037 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps5299 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Effects from hyperinflation accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25038 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25039 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25040 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps23680\">7.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14072 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25041 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">7.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25042 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25043 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25044 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25045 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25046 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25047 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25048 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14096 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Purchase of treasury shares<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25049 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25050 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25051 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14098 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25052 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25053 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23079\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25054 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25055 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25056 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25057 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25058 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(33.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25059 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(33.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps19374 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Sale of treasury shares<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25060 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25061 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25062 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25063 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25064 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25065 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25066 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25067 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25068 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25069 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25070 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps23680\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25071 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps19377 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Changes in ownership interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25072 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25073 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25074 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25075 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25076 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25077 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25078 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25079 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25080 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25081 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25082 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(14.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25083 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(14.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25084 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Special voting shares allocation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25085 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25086 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25087 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25088 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25089 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25090 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25091 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25092 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25093 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25094 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25095 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25096 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25097 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Dividends<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25098 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25099 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25100 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25101 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25102 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25103 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25104 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25105 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25106 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25107 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25108 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(78.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25109 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(78.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps20135 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Net result of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25110 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25111 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25112 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25113 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25114 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25115 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25116 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25117 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25118 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25119 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25120 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps20562\">346.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25121 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">346.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14031 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Other variations<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25122 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25123 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25124 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25125 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25126 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25127 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25128 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25129 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25130 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25131 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25132 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25133 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14032 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025 Campari Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25134 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-ba8ac8da ps24974\">4.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25135 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(352.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25136 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">87.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14034 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">4.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25137 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(256.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25138 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-ba8ac8da ps23079\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25139 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25140 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">63.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25141 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-ba8ac8da ps23719\">33.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25142 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">642.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25143 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,342.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25144 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">4,081.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25145 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">Non-controlling interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14105 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Changes in ownership interests and other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25146 ss274\"><div><div class=\"ps2415 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25147 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25148 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14107 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25149 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25150 ss1234\"><div><div class=\"ps2415 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25151 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25152 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25153 ss187\"><div><div class=\"ps2415 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25154 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25155 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">32.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25156 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">32.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25157 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Net result of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25158 ss274\"><div><div class=\"ps2415 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25159 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25160 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25161 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25162 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25163 ss1234\"><div><div class=\"ps2415 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25164 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25165 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25166 ss187\"><div><div class=\"ps2415 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25167 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25168 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25169 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(13.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25170 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Translation difference<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25171 ss274\"><div><div class=\"ps2415 ss273\"><span class=\"f charStyle-183bdf94 ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25172 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(19.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25173 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25174 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25175 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(19.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25176 ss1234\"><div><div class=\"ps2415 ss1233\"><span class=\"f charStyle-183bdf94 ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25177 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25178 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25179 ss187\"><div><div class=\"ps2415 ss179\"><span class=\"f charStyle-183bdf94 ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25180 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25181 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25182 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps14038 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025 non-controlling interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25183 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-ba8ac8da ps9068\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25184 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(19.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25185 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25186 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25187 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(19.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25188 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-ba8ac8da ps23717\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25189 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25190 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25191 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-ba8ac8da ps14652\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25192 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25193 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">19.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.25pt dotted #000;padding:0\"><div class=\"ps25194 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">19.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25195 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25196 ss274\"><div><div class=\"ps476 ss273\"><span class=\"f charStyle-ba8ac8da ps24974\">4.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25197 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(371.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25198 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">87.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25199 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">4.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25200 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(275.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25201 ss1234\"><div><div class=\"ps476 ss1233\"><span class=\"f charStyle-ba8ac8da ps23079\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25202 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25203 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">63.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25204 ss187\"><div><div class=\"ps476 ss179\"><span class=\"f charStyle-ba8ac8da ps23719\">33.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25205 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">642.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25206 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,362.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25207 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">4,101.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps3002 ss1036\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1051 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:174.75pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps3308 ss1880\"><div><div class=\"ps476 ss1879\"><span class=\"f charStyle-ba8ac8da ps25210\">equity reserves<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"7\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13608 ss1882\"><div><div class=\"ps476 ss1881\"><span class=\"f charStyle-ba8ac8da ps25211\">retained earnings and other reserves<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25213 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps19592\">cash flow <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps25212\">hedge</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25214 ss1612\"><div><div class=\"ps2974 ss180\"><span class=\"f charStyle-183bdf94 ps24959\">currency <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps22023\">translation\u00a0 </span></div><div class=\"ps2976 ss180\"><span class=\"f charStyle-183bdf94 ps18350\">differences<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14691 ss1612\"><div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps18449\">hyperinflation<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25215 ss1612\"><div><div class=\"ps2372 ss180\"><span class=\"f charStyle-183bdf94 ps24962\">remeasurem<span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps24963\">ent of </span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps24205\">defined </span></div><div class=\"ps2378 ss180\"><span class=\"f charStyle-183bdf94 ps8943\">benefit plans<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15580 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-ba8ac8da ps6396\">total equity <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-ba8ac8da ps6475\">reserves</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25217 ss1612\"><div><div class=\"ps2974 ss180\"><span class=\"f charStyle-183bdf94 ps24966\">treasury <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps24966\">ordinary </span></div><div class=\"ps2976 ss180\"><span class=\"f charStyle-183bdf94 ps25216\">shares</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25218 ss1612\"><div><div class=\"ps2974 ss180\"><span class=\"f charStyle-183bdf94 ps24966\">treasury <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps24101\">special </span></div><div class=\"ps2976 ss180\"><span class=\"f charStyle-183bdf94 ps10248\">voting shares</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25220 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps25219\">share- based <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps23797\">payments</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25222 ss1612\"><div><div class=\"ps1083 ss180\"><span class=\"f charStyle-183bdf94 ps25221\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24970 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps20562\">share <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps6685\">premium</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24971 ss1612\"><div><div class=\"ps2374 ss180\"><span class=\"f charStyle-183bdf94 ps24966\">retained <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-183bdf94 ps24959\">earnings</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24973 ss1612\"><div><div class=\"ps2372 ss180\"><span class=\"f charStyle-ba8ac8da ps502\">total <span class=\"f ps21\"> </span></span></div><div class=\"ps2374 ss180\"><span class=\"f charStyle-ba8ac8da ps6685\">retained </span></div><div class=\"ps2377 ss180\"><span class=\"f charStyle-ba8ac8da ps19592\">earnings </span></div><div class=\"ps2378 ss180\"><span class=\"f charStyle-ba8ac8da ps24972\">and other</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps10737 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1089 ss1884\"><div><div class=\"ps1094 ss174\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023\u00a0 before non-controlling <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss174\"><span class=\"f charStyle-ba8ac8da ps132\">interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25223 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">9.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25224 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(153.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25225 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">67.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25226 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">3.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15587 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(72.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25227 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25228 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25229 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">56.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25230 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">33.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24982 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24983 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">2,872.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24984 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">2,962.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Campari Group<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps4962 ss1884\"><div><div class=\"ps1094 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Cost of share-based payments <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss174\"><span class=\"f charStyle-183bdf94 ps132\">for the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25231 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps16199 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps22791 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25232 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25233 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps14533 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25234 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25235 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25236 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25237 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25238 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25239 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps6894 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Share-based payments exercised<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25240 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25241 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25242 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25243 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25244 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps19894 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25245 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25246 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(12.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25247 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25011 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25012 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">12.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25013 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps5271 ss1884\"><div><div class=\"ps473 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Issue of new shares net of fees<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25248 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps7353 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25249 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25250 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25251 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps14554 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25252 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25253 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25254 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25255 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps20562\">642.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25256 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25257 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">642.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps5285 ss1884\"><div><div class=\"ps1094 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Profits (losses) <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss174\"><span class=\"f charStyle-183bdf94 ps132\">allocated to shareholders' equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25258 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(3.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25259 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25260 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25261 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25262 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(5.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25263 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25264 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25265 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25266 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25267 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25268 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25269 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps5299 ss1884\"><div><div class=\"ps1094 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Tax effect <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss174\"><span class=\"f charStyle-183bdf94 ps132\">recognised in shareholders' equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25270 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps23680\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25271 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25272 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25273 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps23680\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25274 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25275 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25276 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25277 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25278 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25046 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25047 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25048 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps8081 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Translation difference<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25279 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25280 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">40.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25281 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25282 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25283 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">40.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25284 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25285 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25286 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25287 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25288 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25289 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25290 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps14180 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Effects from hyperinflation accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25291 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25292 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25293 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">12.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25294 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25295 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">12.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25296 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25297 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25298 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25299 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25300 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25301 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25302 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps14183 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Purchase of treasury shares<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25303 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25304 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25305 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25306 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25307 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25308 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25309 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25310 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25311 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25312 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25313 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(6.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25314 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(6.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps13366 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Sale of treasury shares<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25315 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25316 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25317 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25318 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25319 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25320 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25321 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25322 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25323 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25324 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25325 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps23680\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25326 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps19382 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Changes in ownership interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25327 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25328 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25329 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25330 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25331 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25332 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25333 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25334 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25335 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25336 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25337 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">50.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25338 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">50.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps14102 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Dividends<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25339 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25340 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25341 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25342 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25343 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25344 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25345 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25346 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25347 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25348 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25349 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps5254\">(78.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25350 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(78.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps10085 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Dividends to non-controlling interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25351 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25352 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25353 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25354 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25355 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25356 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25357 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25358 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25359 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25360 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25361 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25362 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25363 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Net result of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25364 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25365 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25366 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25367 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25368 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25369 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25370 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25371 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25372 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25373 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25374 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps20562\">201.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25375 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">201.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps5356 ss1884\"><div><div class=\"ps473 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Other variations<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25376 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25377 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25378 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25379 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25380 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25381 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25382 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25383 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25384 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25385 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25386 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">37.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25387 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">37.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps5363 ss1884\"><div><div class=\"ps1094 ss174\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024 before non-controlling <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss174\"><span class=\"f charStyle-ba8ac8da ps132\">interest</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25388 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">6.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25389 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(113.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25390 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">80.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25391 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">2.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25392 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(23.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25393 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25394 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25395 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">71.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25396 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">33.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25397 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">642.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25398 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,093.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25399 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,841.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps16421 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-ba8ac8da ps132\">Non-controlling interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps4717 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-40131897 ps132\">Changes in ownership interests and other movements</span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25400 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25401 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25402 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25403 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps25404 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps25405 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25406 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25407 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25408 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25409 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25410 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;padding:0\"><div class=\"ps25411 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps4726 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Dividends<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25412 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25413 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25414 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25415 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25416 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25417 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25418 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25419 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25420 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25421 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25422 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25423 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps4736 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Net result of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25424 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25425 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25426 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25427 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25428 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25429 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25430 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25431 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25432 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25433 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25434 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps4596\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.25pt dotted #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25435 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(9.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps19454 ss1883\"><div><div class=\"ps476 ss174\"><span class=\"f charStyle-183bdf94 ps132\">Translation difference<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25436 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25437 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps24976\">10.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25438 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25439 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25440 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">10.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25441 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25442 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25443 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25444 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25445 ss188\"><div><div class=\"ps2415 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25446 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-183bdf94 ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.25pt dotted #000000;padding:0\"><div class=\"ps25447 ss188\"><div><div class=\"ps476 ss180\"><span class=\"f charStyle-ba8ac8da ps22234\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps17814 ss1884\"><div><div class=\"ps1094 ss174\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024 including non-controlling <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss174\"><span class=\"f charStyle-ba8ac8da ps132\">interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25448 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">6.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25449 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps19583\">(102.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25450 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">80.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25451 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps23680\">2.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25452 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps5254\">(13.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25453 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25454 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps4596\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25455 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">71.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25456 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps24976\">33.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25457 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps20562\">642.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25458 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,083.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25459 ss443\"><div><div class=\"ps473 ss180\"><span class=\"f charStyle-ba8ac8da ps6339\">3,830.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:46.62pt\">In 2025, </span><span class=\"f charStyle-58d8bcbe ps25460\" style=\"width:449.52pt\">the change in the currency translation differences reserve was mainly related to net assets</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:93.33pt\">denominated in US$.</span><span class=\"f charStyle-58d8bcbe ps25461\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Changes in ownership interests referred to, and included, the impact of the movement of 2025 of non-controlling</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:165.53pt\">interests and connected liabilities, as </span><span class=\"f charStyle-58d8bcbe ps25462\" style=\"width:30.55pt\">follows</span><span class=\"f charStyle-58d8bcbe ps25463\" style=\"width:2.77pt\">.</span></div><div class=\"ps9519 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:150pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:95.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss876\"><div><div class=\"ps13338 ss871\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11951 ss289\"><div><div class=\"ps2579 ss288\"><span class=\"f charStyle-40131897 ps176\">net result of the period</span><span class=\"f charStyle-85922b7e ps25464\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23234 ss1404\"><div><div class=\"ps2578 ss1403\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate of the <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss1403\"><span class=\"f charStyle-183bdf94 ps132\">period &amp; other </span></div><div class=\"ps2580 ss1403\"><span class=\"f charStyle-183bdf94 ps132\">movements &amp; dividends</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14685 ss1885\"><div><div class=\"ps5026 ss1822\"><span class=\"f charStyle-183bdf94 ps132\">put and/or call option <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss1822\"><span class=\"f charStyle-183bdf94 ps132\">measurement</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12317 ss1886\"><div><div class=\"ps2415 ss942\"><span class=\"f charStyle-183bdf94 ps132\">total reclassification to <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss942\"><span class=\"f charStyle-183bdf94 ps132\">Group equity</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25465 ss588\"><div><div class=\"ps2415 ss288\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25466 ss1406\"><div><div class=\"ps2415 ss1403\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21451 ss1825\"><div><div class=\"ps2415 ss1822\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25467 ss943\"><div><div class=\"ps2415 ss942\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps2968 ss879\"><div><div class=\"ps476 ss871\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness Trail Distillery, LLC<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25468 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24054\">(12.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25470 ss1406\"><div><div class=\"ps476 ss1403\"><span class=\"f charStyle-183bdf94 ps25469\">(17.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14754 ss1825\"><div><div class=\"ps476 ss1822\"><span class=\"f charStyle-183bdf94 ps25471\">15.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25473 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25472\">(14.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5727 ss879\"><div><div class=\"ps476 ss871\"><span class=\"f charStyle-183bdf94 ps132\">Changes in ownership interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25474 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps24054\">(12.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25475 ss1406\"><div><div class=\"ps476 ss1403\"><span class=\"f charStyle-183bdf94 ps25469\">(17.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23920 ss1825\"><div><div class=\"ps476 ss1822\"><span class=\"f charStyle-183bdf94 ps25471\">15.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25476 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25472\">(14.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25477 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:437.61pt\">Excluding the net result of the period of Bellonnie et Bourdillon group equal to a loss of \u20ac0.4 million and Courvoisier Group (negligible results).</span></div><div class=\"ps25526 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:113.25pt\"></td><td style=\"padding:0;width:76.5pt\"></td><td style=\"padding:0;width:76.5pt\"></td><td style=\"padding:0;width:76.5pt\"></td><td style=\"padding:0;width:76.5pt\"></td><td style=\"padding:0;width:76.5pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1887\"><div><div class=\"ps13337 ss266\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December <span class=\"f ps21\"> </span></span></div><div class=\"ps13338 ss266\"><span class=\"f charStyle-183bdf94 ps132\">2024</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25482 ss1889\"><div><div class=\"ps2578 ss1888\"><span class=\"f charStyle-183bdf94 ps25480\">reclassification of <span class=\"f ps21\"> </span></span></div><div class=\"ps2579 ss1888\"><span class=\"f charStyle-183bdf94 ps20849\">initial non-controlling </span></div><div class=\"ps2580 ss1888\"><span class=\"f charStyle-183bdf94 ps25481\">interest value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12102 ss1889\"><div><div class=\"ps5026 ss1888\"><span class=\"f charStyle-40131897 ps12320\">net result of the </span></div><div class=\"ps5028 ss1888\"><span class=\"f charStyle-40131897 ps25483\">period</span><span class=\"f charStyle-85922b7e ps25484\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22417 ss1889\"><div><div class=\"ps5026 ss1888\"><span class=\"f charStyle-183bdf94 ps24214\">exchange rate of the <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss1888\"><span class=\"f charStyle-183bdf94 ps25485\">period</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23361 ss1889\"><div><div class=\"ps5026 ss1888\"><span class=\"f charStyle-183bdf94 ps5245\">put and/or call option <span class=\"f ps21\"> </span></span></div><div class=\"ps5028 ss1888\"><span class=\"f charStyle-183bdf94 ps25486\">measurement</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8256 ss1889\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps17686\">total reclassification to <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss1888\"><span class=\"f charStyle-183bdf94 ps25487\">Group equity</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25488 ss1890\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps16144\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25489 ss1890\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps16144\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25490 ss1890\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps16144\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25491 ss1890\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps16144\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8269 ss1890\"><div><div class=\"ps2415 ss1888\"><span class=\"f charStyle-183bdf94 ps16144\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps2968 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps132\">Ancho Reyes and Montelobos<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25493 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25495 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25496 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25498 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25497\">3.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25499 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25497\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5727 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps132\">Champagne Lallier<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25500 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25501 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25502 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25503 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25504 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5196 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps132\">Trans Beverages Company<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25505 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25506 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(1.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25507 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25508 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25509 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps924 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps132\">Wilderness Trail Distillery, LLC<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25510 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25511 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(4.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25513 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25512\">12.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25514 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25512\">43.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25515 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25512\">51.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps928 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-183bdf94 ps132\">Thirsty Camel Ltd.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25516 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25497\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25517 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25518 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25519 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25492\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25520 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-183bdf94 ps25494\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6443 ss276\"><div><div class=\"ps476 ss266\"><span class=\"f charStyle-ba8ac8da ps132\">Changes in ownership interests<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25521 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-ba8ac8da ps25497\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25522 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-ba8ac8da ps25494\">(8.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25523 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-ba8ac8da ps25512\">12.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25524 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-ba8ac8da ps25512\">46.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25525 ss1890\"><div><div class=\"ps476 ss1888\"><span class=\"f charStyle-ba8ac8da ps25512\">50.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:414.29pt\">Excluding the net result of the period of Bellonnie et Bourdillon group equal to \u20ac(0.3) million and Courvoisier Group (negligible results).</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-551": {
   "value": "0.100",
   "decimals": 3,
   "dimensions": {
    "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "f-552": {
   "value": "0.065",
   "decimals": 3,
   "dimensions": {
    "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "f-553": {
   "value": "0.065",
   "decimals": 3,
   "dimensions": {
    "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "f-554": {
   "value": "119900000.0",
   "decimals": -5,
   "dimensions": {
    "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-555": {
   "value": "78200000.0",
   "decimals": -5,
   "dimensions": {
    "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-556": {
   "value": "78100000.0",
   "decimals": -5,
   "dimensions": {
    "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-557": {
   "value": "119900000.0",
   "decimals": -5,
   "dimensions": {
    "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-558": {
   "value": "0.065",
   "decimals": 3,
   "dimensions": {
    "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "f-559": {
   "value": "0.065",
   "decimals": 3,
   "dimensions": {
    "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "f-560": {
   "value": "0.060",
   "decimals": 3,
   "dimensions": {
    "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "f-561": {
   "value": "0.060",
   "decimals": 3,
   "dimensions": {
    "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "f-562": {
   "value": "0.055",
   "decimals": 3,
   "dimensions": {
    "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "f-565": {
   "value": "<div class=\"ps25529 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Share-Based Payments<span id=\"i60740e306d9845f1896e76a736d638d0\"></span></span></div><div class=\"ps3972 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps3973 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-b96b9181 ps1256\" style=\"width:232.54pt\">Compensation plans in the form of stock options</span></div><div class=\"ps3974 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The Group has multiple incentive plans in place, including benefits in the form of stock option plans, governed in</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps3978 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">accordance with the shareholders\u2019 resolution, pursuant to applicable law and implemented by means of a<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">specific regulation (\u2018Stock Option Regulations\u2019). The purpose of the plan is to offer beneficiaries, who occupy</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps3981 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">key positions in the Group the opportunity to own shares in Davide Campari-Milano N.V., thereby aligning their</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps3985 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">interests with those of other shareholders and fostering loyalty, in the context of the strategic goals to be</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1216 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">achieved. The recipients are employees, directors and/or individuals who regularly work for one or more Group</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps3986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">companies, who have been identified by the Board of Directors of Davide Campari-Milano N.V., and who, on the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7502 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">approval date of the plan and until the date that the options are exercised, have worked as employees and/or<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7505 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">directors and/or in any other capacity at one or more Group companies without interruption. The Board of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps19843 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Directors of Davide Campari-Milano N.V. has the right to draft regulations, select beneficiaries and determine<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps19844 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.29pt\">the share quantities and values for the execution of the stock option plans.</span></div><div class=\"ps18847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">The fair value of stock options is represented by the value of the option calculated by applying the Black-<span class=\"f ps21\"> </span></span></div><div class=\"ps19845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Scholes model, and the grant date starts once the options are assigned. Volatility is estimated with the help of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps19846 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">data supplied by a market information provider together with a leading bank, and corresponds to the estimate of</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps19847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">volatility recorded in the period covered by the plan. The stock options are recorded at fair value with an</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps19848 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">offsetting entry in the stock option reserve. The dilutive effect of options not yet exercised is included in the</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps25534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:176.67pt\">calculation of diluted earnings per share</span><span class=\"f charStyle-2293a859 ps25530\" style=\"width:19.39pt\">.\u00a0 \u00a0 \u00a0 </span><span class=\"f charStyle-58d8bcbe ps25531\" style=\"width:8.31pt\">\u00a0  </span><span class=\"f charStyle-58d8bcbe ps25532\" style=\"width:8.31pt\">\u00a0  </span><span class=\"f charStyle-58d8bcbe ps25533\" style=\"width:19.39pt\">\u00a0 \u00a0 \u00a0  </span></div><div class=\"ps25580 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps25581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:496.21pt\">Share-based payments in the form of the Employees Share Ownership Plan ('ESOP') and Mid-Term</span><span class=\"f charStyle-b96b9181 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps14348 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:99.34pt\">Incentive Plan (\u2018MTI\u2019)</span></div><div class=\"ps11490 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Shareholders\u2019 Meeting of 8 April 2021 approved the resolution for the implementation of the Employee</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps25582 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Share Ownership Plan (\u2018ESOP\u2019). ESOP is a share matching plan offering employees the opportunity to invest in</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps21000 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Davide Campari-Milano N.V. shares. The ESOP is intended for all Group employees, with the exception of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25583 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">members of the Board of Directors. These employees will be offered the opportunity to allocate certain amounts</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps25584 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">to the plan, which will be used to purchase shares of Davide Campari-Milano N.V. (the \u2018Purchased Shares\u2019) by</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps25585 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">the plan administrator and, after a three-year vesting period, complementary free shares will be awarded. The</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps25587 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:269.99pt\">free shares granted represent an equity-settled arrangement.</span><span class=\"f charStyle-2293a859 ps25586\" style=\"width:2.77pt\"> </span></div><div class=\"ps24847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The accounting treatment for the ESOP follows the accounting treatment applied for benefits granted in the form</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps24848 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">of stock option plans. The fair value of the ESOP Plan is represented by the value of the option calculated by<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25588 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">applying the Black-Scholes model. In the event that the granting of the benefit in the form of a share-based</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25589 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">scheme is not permitted or it is not effective on the basis of specific national legislation, the same benefits are</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps25590 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">granted in the form of a phantom stock option plan. These plans confer the same rights as the ESOP but are</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps25591 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">cash-settled and the initial fair value measurement is calculated by applying the Black-Scholes model. The cost</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps25592 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">resulting from this valuation is spread over the vesting period, with an impact on the profit or loss using a long-</span></div><div class=\"ps25593 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">term liability offsetting account (instead of an equity reserve). As a subsequent measurement, at each balance</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps25594 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">sheet date and at least once a year and on the settlement date, the value of the phantom plan must be fully<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">remeasured on the basis of the current market value of the Davide Campari-Milano N.V. shares. Any cumulative</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps11386 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.05pt\">changes in fair value are recognised in the profit or loss in the remeasurement period to align the liability with</span><span class=\"f charStyle-2293a859 ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps11387 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:260.17pt\">the \u2018pro-rata\u2019 value of the expected bonus payment payout.</span><span class=\"f charStyle-2293a859 ps25595\" style=\"width:2.77pt\"> </span></div><div class=\"ps1993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">On 13 April 2022, the Annual General Meeting approved a Mid-Term Incentive Plan (\u2018MTI\u2019) based on Campari</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps11389 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">shares and aimed at rewarding Camparistas for their active participation in the Group performance and fostering</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps11390 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">their retention. Eligible Camparistas will be granted a right to receive a number of Campari shares for free,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps11391 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subject to their uninterrupted employment over a three-year vesting period from the grant date. The number of</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps11392 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">award rights to be granted to each beneficiary will be calculated based on the beneficiary\u2019s annual base gross</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps11393 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">salary as of 31 December preceding the grant date. The MTI Plan approved in April 2022 foresees 3 grants for</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps11394 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:69.98pt\">the following thr</span><span class=\"f charStyle-2293a859 ps9385\" style=\"width:41.11pt\">ee years.</span></div><div class=\"ps11396 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">The ESOP and MTI information documents, drafted in accordance with applicable legislation, are available on</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps11397 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:108.69pt\">the Company\u2019s website: </span><span class=\"f charStyle-6e73145d ps25596\" style=\"width:228.93pt\">www.camparigroup.com/en/page/group/governance</span><span class=\"f charStyle-2293a859 ps25597\" style=\"width:2.77pt\">.</span></div><div class=\"ps25634 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps25635 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b96b9181 ps56\">Share-based payments in the form of Long-Term Incentive Plan (\u2018LTI\u2019)</span></div><div class=\"ps9727 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The General Meeting of 11 April 2024 approved a Remuneration Policy that entitles key management personnel</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25636 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">and senior employees to receive Long-Term Incentive Plans. The plans entitle eligible Camparistas to receive a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps25637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">number of Campari shares for free, subject to their uninterrupted employment over a contractually defined</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps25638 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">vesting period from the grant date (Restricted Stock Units or \u2018RSU\u2019) and a number of Campari shares for free,</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps25639 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subject to the achievement of Campari Group\u2019s performance conditions (Performance Stock Units or \u2018PSU\u2019) to</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps25640 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">be achieved over the vesting period. The performance conditions are both market conditions represented by the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22436 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">relative Total Shareholders\u2019 Return (\u2018TSR\u2019) and non-market conditions represented by renewable energy targets.</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.59pt\"> </span></div><div class=\"ps25641 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">The fair value of these plans has been measured based on the following: for RSU the number of award rights to</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps12486 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">be granted to each beneficiary is calculated based on the beneficiary\u2019s annual base gross salary as of 31<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25642 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">December preceding the grant date; for PSU the fair value has been measured using a stochastic or Black-</span></div><div class=\"ps25643 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Scholes method, where service and non-market conditions attached to the agreements were not taken into<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25644 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:141.1pt\">account in measuring fair value.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-564": {
   "value": "<div class=\"ps25529 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Share-Based Payments<span id=\"i60740e306d9845f1896e76a736d638d0\"></span></span></div><div class=\"ps3972 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps3973 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-b96b9181 ps1256\" style=\"width:232.54pt\">Compensation plans in the form of stock options</span></div><div class=\"ps3974 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The Group has multiple incentive plans in place, including benefits in the form of stock option plans, governed in</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps3978 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">accordance with the shareholders\u2019 resolution, pursuant to applicable law and implemented by means of a<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">specific regulation (\u2018Stock Option Regulations\u2019). The purpose of the plan is to offer beneficiaries, who occupy</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps3981 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">key positions in the Group the opportunity to own shares in Davide Campari-Milano N.V., thereby aligning their</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps3985 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">interests with those of other shareholders and fostering loyalty, in the context of the strategic goals to be</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1216 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">achieved. The recipients are employees, directors and/or individuals who regularly work for one or more Group</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps3986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">companies, who have been identified by the Board of Directors of Davide Campari-Milano N.V., and who, on the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7502 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">approval date of the plan and until the date that the options are exercised, have worked as employees and/or<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7505 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">directors and/or in any other capacity at one or more Group companies without interruption. The Board of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps19843 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Directors of Davide Campari-Milano N.V. has the right to draft regulations, select beneficiaries and determine<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps19844 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.29pt\">the share quantities and values for the execution of the stock option plans.</span></div><div class=\"ps18847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">The fair value of stock options is represented by the value of the option calculated by applying the Black-<span class=\"f ps21\"> </span></span></div><div class=\"ps19845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Scholes model, and the grant date starts once the options are assigned. Volatility is estimated with the help of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps19846 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">data supplied by a market information provider together with a leading bank, and corresponds to the estimate of</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps19847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">volatility recorded in the period covered by the plan. The stock options are recorded at fair value with an</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps19848 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">offsetting entry in the stock option reserve. The dilutive effect of options not yet exercised is included in the</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:176.67pt\">calculation of diluted earnings per share</span><div class=\"ps25580 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps25581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:496.21pt\">Share-based payments in the form of the Employees Share Ownership Plan ('ESOP') and Mid-Term</span><span class=\"f charStyle-b96b9181 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps14348 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:99.34pt\">Incentive Plan (\u2018MTI\u2019)</span></div><div class=\"ps11490 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Shareholders\u2019 Meeting of 8 April 2021 approved the resolution for the implementation of the Employee</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps25582 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Share Ownership Plan (\u2018ESOP\u2019). ESOP is a share matching plan offering employees the opportunity to invest in</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps21000 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Davide Campari-Milano N.V. shares. The ESOP is intended for all Group employees, with the exception of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25583 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">members of the Board of Directors. These employees will be offered the opportunity to allocate certain amounts</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps25584 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">to the plan, which will be used to purchase shares of Davide Campari-Milano N.V. (the \u2018Purchased Shares\u2019) by</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps25585 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">the plan administrator and, after a three-year vesting period, complementary free shares will be awarded. The</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps25587 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:269.99pt\">free shares granted represent an equity-settled arrangement.</span><span class=\"f charStyle-2293a859 ps25586\" style=\"width:2.77pt\"> </span></div><div class=\"ps24847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The accounting treatment for the ESOP follows the accounting treatment applied for benefits granted in the form</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps24848 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">of stock option plans. The fair value of the ESOP Plan is represented by the value of the option calculated by<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25588 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">applying the Black-Scholes model. In the event that the granting of the benefit in the form of a share-based</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25589 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">scheme is not permitted or it is not effective on the basis of specific national legislation, the same benefits are</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps25590 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">granted in the form of a phantom stock option plan. These plans confer the same rights as the ESOP but are</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps25591 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">cash-settled and the initial fair value measurement is calculated by applying the Black-Scholes model. The cost</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps25592 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">resulting from this valuation is spread over the vesting period, with an impact on the profit or loss using a long-</span></div><div class=\"ps25593 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">term liability offsetting account (instead of an equity reserve). As a subsequent measurement, at each balance</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps25594 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">sheet date and at least once a year and on the settlement date, the value of the phantom plan must be fully<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">remeasured on the basis of the current market value of the Davide Campari-Milano N.V. shares. Any cumulative</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps11386 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.05pt\">changes in fair value are recognised in the profit or loss in the remeasurement period to align the liability with</span><span class=\"f charStyle-2293a859 ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps11387 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:260.17pt\">the \u2018pro-rata\u2019 value of the expected bonus payment payout.</span><span class=\"f charStyle-2293a859 ps25595\" style=\"width:2.77pt\"> </span></div><div class=\"ps1993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">On 13 April 2022, the Annual General Meeting approved a Mid-Term Incentive Plan (\u2018MTI\u2019) based on Campari</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps11389 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">shares and aimed at rewarding Camparistas for their active participation in the Group performance and fostering</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps11390 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">their retention. Eligible Camparistas will be granted a right to receive a number of Campari shares for free,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps11391 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subject to their uninterrupted employment over a three-year vesting period from the grant date. The number of</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps11392 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">award rights to be granted to each beneficiary will be calculated based on the beneficiary\u2019s annual base gross</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps11393 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">salary as of 31 December preceding the grant date. The MTI Plan approved in April 2022 foresees 3 grants for</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps11394 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:69.98pt\">the following thr</span><span class=\"f charStyle-2293a859 ps9385\" style=\"width:41.11pt\">ee years.</span></div><div class=\"ps11396 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">The ESOP and MTI information documents, drafted in accordance with applicable legislation, are available on</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps11397 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:108.69pt\">the Company\u2019s website: </span><span class=\"f charStyle-6e73145d ps25596\" style=\"width:228.93pt\">www.camparigroup.com/en/page/group/governance</span><span class=\"f charStyle-2293a859 ps25597\" style=\"width:2.77pt\">.</span></div><div class=\"ps25634 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps25635 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b96b9181 ps56\">Share-based payments in the form of Long-Term Incentive Plan (\u2018LTI\u2019)</span></div><div class=\"ps9727 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The General Meeting of 11 April 2024 approved a Remuneration Policy that entitles key management personnel</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25636 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">and senior employees to receive Long-Term Incentive Plans. The plans entitle eligible Camparistas to receive a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps25637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">number of Campari shares for free, subject to their uninterrupted employment over a contractually defined</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps25638 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">vesting period from the grant date (Restricted Stock Units or \u2018RSU\u2019) and a number of Campari shares for free,</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps25639 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subject to the achievement of Campari Group\u2019s performance conditions (Performance Stock Units or \u2018PSU\u2019) to</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps25640 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">be achieved over the vesting period. The performance conditions are both market conditions represented by the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22436 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">relative Total Shareholders\u2019 Return (\u2018TSR\u2019) and non-market conditions represented by renewable energy targets.</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.59pt\"> </span></div><div class=\"ps25641 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">The fair value of these plans has been measured based on the following: for RSU the number of award rights to</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps12486 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">be granted to each beneficiary is calculated based on the beneficiary\u2019s annual base gross salary as of 31<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25642 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">December preceding the grant date; for PSU the fair value has been measured using a stochastic or Black-</span></div><div class=\"ps25643 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Scholes method, where service and non-market conditions attached to the agreements were not taken into<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25644 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:141.1pt\">account in measuring fair value.</span></div><div class=\"ps26515 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Defined Benefit and Contribution Plans<span id=\"ie00818342c8e417ebceb6ac5d03ee5fc\"></span></span></div><div class=\"ps17523 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps26517 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:124.92pt\">Post-employment benefits</span></div><div class=\"ps26518 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:490.29pt\">Group companies provide post-employment benefits to staff, both directly and by contributing to external funds.</span></div><div class=\"ps3023 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">The procedures for providing these benefits vary depending on the legal, fiscal and economic conditions in each</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps26519 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:163.31pt\">country in which the Group operates.</span></div><div class=\"ps26520 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:93.89pt\">Defined benefit plans</span></div><div class=\"ps25680 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">The Group\u2019s obligations and the annual cost reported in the statement of profit or loss are determined by</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:270.55pt\">independent actuaries using the projected unit credit method.</span></div><div class=\"ps25688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The costs associated with an increase in the present value of the obligation, as the time for payment of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17251 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">benefits draws nearer, are included under financial expenses, while the service costs are posted under the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps26522 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:354.4pt\">reporting line of cost of sales and selling, general and administrative expenses.\u00a0 <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps26521\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps16012 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:115.56pt\">Defined contribution plans</span></div><div class=\"ps26523 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">Based on legal or contractual obligations, or on a voluntary basis, the Group fulfils post-employment employee<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26524 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">obligations by paying contributions to a separate entity (publicly or privately administered pension funds),</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps26525 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">without making any actuarial calculation. At the end of the financial year, any liabilities for contributions to be</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps26526 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">paid are included in 'Other current liabilities\u2019, while the cost for the period is recognised under the reporting line</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:288.31pt\">of cost of sales and selling, general and administrative expenses.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-563": {
   "value": "<div class=\"ps25529 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">v.\u00a0  Share-Based Payments<span id=\"i60740e306d9845f1896e76a736d638d0\"></span></span></div><div class=\"ps3972 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps3973 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-b96b9181 ps1256\" style=\"width:232.54pt\">Compensation plans in the form of stock options</span></div><div class=\"ps3974 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The Group has multiple incentive plans in place, including benefits in the form of stock option plans, governed in</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps3978 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">accordance with the shareholders\u2019 resolution, pursuant to applicable law and implemented by means of a<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps3979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">specific regulation (\u2018Stock Option Regulations\u2019). The purpose of the plan is to offer beneficiaries, who occupy</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps3981 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">key positions in the Group the opportunity to own shares in Davide Campari-Milano N.V., thereby aligning their</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps3985 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">interests with those of other shareholders and fostering loyalty, in the context of the strategic goals to be</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1216 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">achieved. The recipients are employees, directors and/or individuals who regularly work for one or more Group</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps3986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">companies, who have been identified by the Board of Directors of Davide Campari-Milano N.V., and who, on the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7502 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">approval date of the plan and until the date that the options are exercised, have worked as employees and/or<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps7505 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">directors and/or in any other capacity at one or more Group companies without interruption. The Board of</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps19843 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">Directors of Davide Campari-Milano N.V. has the right to draft regulations, select beneficiaries and determine<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps19844 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:328.29pt\">the share quantities and values for the execution of the stock option plans.</span></div><div class=\"ps18847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">The fair value of stock options is represented by the value of the option calculated by applying the Black-<span class=\"f ps21\"> </span></span></div><div class=\"ps19845 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">Scholes model, and the grant date starts once the options are assigned. Volatility is estimated with the help of</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps19846 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">data supplied by a market information provider together with a leading bank, and corresponds to the estimate of</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps19847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">volatility recorded in the period covered by the plan. The stock options are recorded at fair value with an</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps19848 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">offsetting entry in the stock option reserve. The dilutive effect of options not yet exercised is included in the</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps25534 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:176.67pt\">calculation of diluted earnings per share</span><span class=\"f charStyle-2293a859 ps25530\" style=\"width:19.39pt\">.\u00a0 \u00a0 \u00a0 </span><span class=\"f charStyle-58d8bcbe ps25531\" style=\"width:8.31pt\">\u00a0  </span><span class=\"f charStyle-58d8bcbe ps25532\" style=\"width:8.31pt\">\u00a0  </span><span class=\"f charStyle-58d8bcbe ps25533\" style=\"width:19.39pt\">\u00a0 \u00a0 \u00a0  </span></div><div class=\"ps25536 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps25538 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The most recent stock option plan was endorsed in 2023 and the Annual General Meeting adopted a new</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps2955 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Remuneration Policy introducing alternative other share-based instruments. Consequently, no options were</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps25539 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">granted in the year 2025. The following table shows the changes in stock option plans during the concerned</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps25540 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:35.56pt\">periods.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:180.75pt\"></td><td style=\"padding:0;width:78.75pt\"></td><td style=\"padding:0;width:78.75pt\"></td><td style=\"padding:0;width:78.75pt\"></td><td style=\"padding:0;width:78.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25542 ss834\"><div><div class=\"ps476 ss833\"><span class=\"f charStyle-183bdf94 ps16689\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11522 ss834\"><div><div class=\"ps476 ss833\"><span class=\"f charStyle-183bdf94 ps16689\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25544 ss1177\"><div><div class=\"ps979 ss1166\"><span class=\"f charStyle-183bdf94 ps25543\">no. of shares<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6591 ss1177\"><div><div class=\"ps2776 ss1166\"><span class=\"f charStyle-183bdf94 ps25545\">average allocation/<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1166\"><span class=\"f charStyle-183bdf94 ps25546\">exercise price (\u20ac)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11542 ss1177\"><div><div class=\"ps979 ss1166\"><span class=\"f charStyle-183bdf94 ps25543\">no. of shares<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14162 ss1177\"><div><div class=\"ps2776 ss1166\"><span class=\"f charStyle-183bdf94 ps25545\">average allocation/<span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1166\"><span class=\"f charStyle-183bdf94 ps25546\">exercise price (\u20ac)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1891\"><div><div class=\"ps476 ss448\"><span class=\"f charStyle-183bdf94 ps132\">Options outstanding at the beginning of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25548 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps25547\">23,654.942<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6603 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps20526\">7.72<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25549 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps25547\">26,500.938<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15525 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps20526\">7.72<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss1891\"><div><div class=\"ps476 ss448\"><span class=\"f charStyle-183bdf94 ps132\">(Options cancelled during the period)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25551 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps25550\">(762.912)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6618 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps20510\">10.18<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25553 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps25552\">(1,887.054)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25554 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps20526\">8.82<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1891\"><div><div class=\"ps476 ss448\"><span class=\"f charStyle-40131897 ps132\">(Options exercised during the period)</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25556 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps25555\">(18.720)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6631 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps20526\">6.41<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25557 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps25550\">(958.942)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14167 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps20526\">5.89<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1891\"><div><div class=\"ps476 ss448\"><span class=\"f charStyle-183bdf94 ps132\">(Options expired during the period)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25558 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps25552\">(5,281.255)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6643 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps20526\">6.25<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25559 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps14169 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps11608\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss1891\"><div><div class=\"ps476 ss448\"><span class=\"f charStyle-183bdf94 ps132\">Options outstanding at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25560 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps25547\">17,592.055<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18231 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps20526\">8.05<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25561 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps25547\">23,654.942<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25562 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps20526\">7.72<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4628 ss1891\"><div><div class=\"ps485 ss448\"><span class=\"f charStyle-183bdf94 ps132\">of which exercisable at the end of the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25563 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps25547\">10,394,665<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25564 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps20526\">6.48<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25566 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps25565\">5,560.902<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25567 ss1175\"><div><div class=\"ps476 ss1166\"><span class=\"f charStyle-183bdf94 ps20526\">6.38<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps1893 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:348.84pt\">The exercise prices for the options granted in each year range were as follows.</span></div><div class=\"ps15232 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:384.75pt\"></td><td style=\"padding:0;width:111pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps11961 ss519\"><div><div class=\"ps485 ss518\"><span class=\"f charStyle-183bdf94 ps25568\">exercise price<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-183bdf94 ps132\">Allocations: 2019<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps16270 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-183bdf94 ps22362\">8.85<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-183bdf94 ps132\">Allocations: 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16275 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-183bdf94 ps22362\">6.41<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-183bdf94 ps132\">Allocations: 2021<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16278 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-183bdf94 ps22362\">9.91<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-183bdf94 ps132\">Allocations: 2022<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps16281 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-183bdf94 ps5996\">10.29<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1731\"><div><div class=\"ps476 ss1730\"><span class=\"f charStyle-183bdf94 ps132\">Allocations: 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16283 ss519\"><div><div class=\"ps476 ss518\"><span class=\"f charStyle-183bdf94 ps25569\">11.61<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25571 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">Considering the transition to the new Long-Term Incentive Plan described below, no stock options have been</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps25572 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:92.24pt\">granted during 2025.</span></div><div class=\"ps25576 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:238.87pt\">The average remaining life of outstanding options </span><span class=\"f charStyle-58d8bcbe ps25573\" style=\"width:103.5pt\">at 31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps25574\" style=\"width:129.17pt\"> was 1.9 years (2.7 years <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps25575\" style=\"width:24.68pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps25578 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2024</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:6.1pt\">).</span><span class=\"f charStyle-58d8bcbe ps25577\" style=\"width:11.08pt\">\u00a0 \u00a0 </span></div><div class=\"ps25580 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps25581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:496.21pt\">Share-based payments in the form of the Employees Share Ownership Plan ('ESOP') and Mid-Term</span><span class=\"f charStyle-b96b9181 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps14348 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:99.34pt\">Incentive Plan (\u2018MTI\u2019)</span></div><div class=\"ps11490 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Shareholders\u2019 Meeting of 8 April 2021 approved the resolution for the implementation of the Employee</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps25582 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">Share Ownership Plan (\u2018ESOP\u2019). ESOP is a share matching plan offering employees the opportunity to invest in</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps21000 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">Davide Campari-Milano N.V. shares. The ESOP is intended for all Group employees, with the exception of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25583 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">members of the Board of Directors. These employees will be offered the opportunity to allocate certain amounts</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps25584 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">to the plan, which will be used to purchase shares of Davide Campari-Milano N.V. (the \u2018Purchased Shares\u2019) by</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps25585 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">the plan administrator and, after a three-year vesting period, complementary free shares will be awarded. The</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps25587 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:269.99pt\">free shares granted represent an equity-settled arrangement.</span><span class=\"f charStyle-2293a859 ps25586\" style=\"width:2.77pt\"> </span></div><div class=\"ps24847 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The accounting treatment for the ESOP follows the accounting treatment applied for benefits granted in the form</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps24848 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">of stock option plans. The fair value of the ESOP Plan is represented by the value of the option calculated by<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25588 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">applying the Black-Scholes model. In the event that the granting of the benefit in the form of a share-based</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25589 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">scheme is not permitted or it is not effective on the basis of specific national legislation, the same benefits are</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps25590 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">granted in the form of a phantom stock option plan. These plans confer the same rights as the ESOP but are</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps25591 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">cash-settled and the initial fair value measurement is calculated by applying the Black-Scholes model. The cost</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps25592 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">resulting from this valuation is spread over the vesting period, with an impact on the profit or loss using a long-</span></div><div class=\"ps25593 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">term liability offsetting account (instead of an equity reserve). As a subsequent measurement, at each balance</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps25594 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">sheet date and at least once a year and on the settlement date, the value of the phantom plan must be fully<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps17210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">remeasured on the basis of the current market value of the Davide Campari-Milano N.V. shares. Any cumulative</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps11386 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.05pt\">changes in fair value are recognised in the profit or loss in the remeasurement period to align the liability with</span><span class=\"f charStyle-2293a859 ps365\" style=\"width:2.77pt\"> </span></div><div class=\"ps11387 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:260.17pt\">the \u2018pro-rata\u2019 value of the expected bonus payment payout.</span><span class=\"f charStyle-2293a859 ps25595\" style=\"width:2.77pt\"> </span></div><div class=\"ps1993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">On 13 April 2022, the Annual General Meeting approved a Mid-Term Incentive Plan (\u2018MTI\u2019) based on Campari</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps11389 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">shares and aimed at rewarding Camparistas for their active participation in the Group performance and fostering</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps11390 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">their retention. Eligible Camparistas will be granted a right to receive a number of Campari shares for free,<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps11391 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subject to their uninterrupted employment over a three-year vesting period from the grant date. The number of</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps11392 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">award rights to be granted to each beneficiary will be calculated based on the beneficiary\u2019s annual base gross</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps11393 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">salary as of 31 December preceding the grant date. The MTI Plan approved in April 2022 foresees 3 grants for</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps11394 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:69.98pt\">the following thr</span><span class=\"f charStyle-2293a859 ps9385\" style=\"width:41.11pt\">ee years.</span></div><div class=\"ps11396 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">The ESOP and MTI information documents, drafted in accordance with applicable legislation, are available on</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps11397 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:108.69pt\">the Company\u2019s website: </span><span class=\"f charStyle-6e73145d ps25596\" style=\"width:228.93pt\">www.camparigroup.com/en/page/group/governance</span><span class=\"f charStyle-2293a859 ps25597\" style=\"width:2.77pt\">.</span></div><div class=\"ps11399 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps11401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:317.76pt\">The following table shows the changes in share-based rights during the </span><span class=\"f charStyle-58d8bcbe ps25598\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps25599\" style=\"width:2.77pt\">.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:323.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1893\"><div><div class=\"ps485 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">n. of rights<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25600 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps8689\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps12317 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps8689\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss1893\"><div><div class=\"ps485 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">outstanding rights at the beginning of the year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25602 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25601\">2,915.095<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps12325 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25601\">3,678.420<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1894\"><div><div class=\"ps9673 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">assigned during the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25604 ss1895\"><div><div class=\"ps22869 ss942\"><span class=\"f charStyle-183bdf94 ps25603\">342.905<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12333 ss1895\"><div><div class=\"ps22869 ss942\"><span class=\"f charStyle-183bdf94 ps25603\">462.685<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1894\"><div><div class=\"ps9673 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">cancelled during the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25606 ss1895\"><div><div class=\"ps22869 ss942\"><span class=\"f charStyle-183bdf94 ps25605\">(197.174)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25607 ss1895\"><div><div class=\"ps22869 ss942\"><span class=\"f charStyle-183bdf94 ps25605\">(261.583)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"padding:0\"><div class=\"ps2371 ss1894\"><div><div class=\"ps9673 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">exercised during the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25609 ss1895\"><div><div class=\"ps22869 ss942\"><span class=\"f charStyle-183bdf94 ps25608\">(2,014.553)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25610 ss1895\"><div><div class=\"ps22869 ss942\"><span class=\"f charStyle-183bdf94 ps25605\">(964.426)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps24025 ss1893\"><div><div class=\"ps485 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">outstanding rights at the end of the year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25611 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25601\">1,046.274<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25612 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25601\">2,915.095<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps25614 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">With respect to the MTI program granted in 2022 with a 3-year vesting period, the related shares were</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps25615 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">transferred and thus exercised to the eligible employees in May 2025. All shares granted in 2022 have been fully<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25616 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:327.79pt\">exercised, while the shares granted in 2023 and 2024 remain outstanding.</span></div><div class=\"ps25618 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">The following assumptions were used for the weighted average fair value measurement of the ESOP plan for</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps23474 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">complementary free share assignment in the twelve months ended 31 December 2025 and 31 December 2024.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.59pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25619 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:479.98pt\">The weighted average fair value for complementary free shares assigned in 2025 was \u20ac6.06 (\u20ac9.09 in 2024).</span></div><div class=\"ps25630 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:323.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Black-Scholes - model parameters<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25600 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps8689\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps12317 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps8689\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Expected dividends (\u20ac)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25602 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25621\">0.065<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps12325 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25621\">0.065<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Expected volatility (%)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25604 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25622\"></span><span class=\"ps25622\">225.09%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12333 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25622\"></span><span class=\"ps25622\">199.74%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Historic volatility (%)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25624 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25623\"></span><span class=\"ps25623\">31.48%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12369 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25623\"></span><span class=\"ps25623\">24.00%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Market interest rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25626 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25625\"></span><span class=\"ps25625\">2.18%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12376 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25625\"></span><span class=\"ps25625\">2.75%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Expected option life (years)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25628 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25627\">3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25629 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25627\">3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:457.27pt\">If a share-based scheme is not permitted or is not effective based on specific national legislation, a </span><span class=\"f charStyle-58d8bcbe ps25631\" style=\"width:38.9pt\">phantom</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps4994 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">stock option plan is awarded, resulting in a liability. The latter, recorded under the item personnel long-term</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps4995 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:117.18pt\">liabilities, was \u20ac0.4 million </span><span class=\"f charStyle-58d8bcbe ps25632\" style=\"width:96.12pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps22495\" style=\"width:161.64pt\"> (\u20ac0.4 million at 31 December 2024).</span></div><div class=\"ps25634 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps25635 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b96b9181 ps56\">Share-based payments in the form of Long-Term Incentive Plan (\u2018LTI\u2019)</span></div><div class=\"ps9727 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">The General Meeting of 11 April 2024 approved a Remuneration Policy that entitles key management personnel</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25636 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">and senior employees to receive Long-Term Incentive Plans. The plans entitle eligible Camparistas to receive a</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps25637 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">number of Campari shares for free, subject to their uninterrupted employment over a contractually defined</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps25638 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">vesting period from the grant date (Restricted Stock Units or \u2018RSU\u2019) and a number of Campari shares for free,</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps25639 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">subject to the achievement of Campari Group\u2019s performance conditions (Performance Stock Units or \u2018PSU\u2019) to</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps25640 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">be achieved over the vesting period. The performance conditions are both market conditions represented by the</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22436 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">relative Total Shareholders\u2019 Return (\u2018TSR\u2019) and non-market conditions represented by renewable energy targets.</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.59pt\"> </span></div><div class=\"ps25641 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.09pt\">The fair value of these plans has been measured based on the following: for RSU the number of award rights to</span><span class=\"f charStyle-2293a859 ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps12486 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">be granted to each beneficiary is calculated based on the beneficiary\u2019s annual base gross salary as of 31<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25642 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">December preceding the grant date; for PSU the fair value has been measured using a stochastic or Black-</span></div><div class=\"ps25643 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">Scholes method, where service and non-market conditions attached to the agreements were not taken into<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25644 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:141.1pt\">account in measuring fair value.</span></div><div class=\"ps6969 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps25646 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The approved remuneration policy pursuant to Dutch and European legislation included the following LTI plans:</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps9741 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">i) Long-Term Incentive Plan for eligible employees of the Group ii) Long-Term Incentive Plan for the Company\u2019s</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps25647 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Lead Team and iii) Chief Financial and Operating Officer Last Mile Incentive plan. All plans rules are available on</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps25649 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:105.92pt\">the Company\u2019s website.</span><span class=\"f charStyle-58d8bcbe ps25648\" style=\"width:2.77pt\"> </span></div><div class=\"ps23008 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The purpose of the first plan is to reward selected employees of the Group for their active participation in Group</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps25651 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">performance and to foster retention. The eligible employees have been awarded a right to receive, for free, a</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps25652 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">number of Campari shares, subject to their continued employment during a vesting period of 3 years. The</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps25653 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">number of assigned rights granted to each beneficiary was calculated based on the beneficiary\u2019s annual base</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps25655 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:352.72pt\">gross salary as of 31 December 2025, with a fair value of \u20ac5.60 (\u20ac9.13 in 2024).<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps25654\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps12501 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">With respect to the second plan mentioned above, the Long-Term Lead Team Incentive Plan, its purpose is to<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25657 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">create a link between the Company\u2019s performance and the Company\u2019s Lead Team members. The latter will be<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps25658 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">awarded a right to receive for free a number of Campari shares, subject to their continued position or</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25659 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">employment relationship during a vesting period, and the achievement of a relative TSR target and a</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps25660 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">Sustainability target. Two-thirds of the assigned rights were granted in the form of RSU and the remaining one-</span></div><div class=\"ps14867 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">third will be assigned in the form of PSU. The methodology valuation used for the RSU is the same as applied</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps25661 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">for the first plan described above, with a fair value of \u20ac5.60 (\u20ac9.13 in 2024). PSU fair value was measured using</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps25662 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:396.63pt\">a stochastic and Black-Scholes method with a weighted average of \u20ac4.98 (\u20ac6.77 in 2024).</span><span class=\"f charStyle-58d8bcbe ps1407\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">With respect to the third plan, the Last-Mile Incentive Plan for the Chief Financial and Operating Officer, its</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">purpose was to reward the Chief Financial and Operating Officer, who has provided the Company with</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">extraordinary value during a long-standing managerial period, and to ensure his retention over the long-term.</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.59pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">The Chief Financial and Operating Officer will be awarded in 2024 only, a right to receive for free a number of</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">Campari shares, subject to his continued directorship relationship during a vesting period of 8 years and the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">achievement of certain performance targets: (i) the uninterrupted directorship relationship with the Company</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">until the vesting date under the terms and conditions set forth in the plan rules; and (ii) the achievement of at</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">least one of the envisaged key performance indicators stated in the plan agreement. PSU fair value was</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:325.28pt\">measured using a Black-Scholes method with a weighted average of \u20ac8.</span><span class=\"f charStyle-58d8bcbe ps25664\" style=\"width:11.12pt\">64<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps25665\" style=\"width:159.83pt\"> for 2024 assignment (there was no</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">additional assignment in 2024 with respect to Chief Financial and Operating Officer Last Mile Incentive Plan).</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Following the consensual termination of Paolo Marchesini\u2019s role as Chief Financial and Operating Officer,</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">together with the associated responsibilities, and in accordance with the Group\u2019s remuneration policy, he</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">became entitled to specific settlement payments. These included the Last Mile Incentive, which was</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:189.47pt\">consequently extinguished during the year.</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">The following table shows the changes in share-based rights in the form of the various \u2018Long-Term Incentive</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:60.23pt\">Plans' during </span><span class=\"f charStyle-58d8bcbe ps25666\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps25667\" style=\"width:70.54pt\"> compared with </span><span class=\"f charStyle-58d8bcbe ps25668\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps1186\" style=\"width:2.77pt\">.</span></div><div class=\"ps25671 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:323.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">n. of rights<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25600 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps8689\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps12317 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps8689\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">outstanding rights at the beginning of the year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25602 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25601\">6,072.974<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps12325 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25669\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">assigned during the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25604 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25601\">5,567.058<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12333 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25601\">6,149.844<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">cancelled during the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25624 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25608\">(4,263.557)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12369 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25670\">(66.313)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">exercised during the period<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25626 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25605\">(200.507)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12376 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25670\">(10.557)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">outstanding rights at the end of the year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25628 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25601\">7,175.968<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25629 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25601\">6,072.974<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps2089 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">No grants were made under the Last -Mile Incentive and LTI plans for the Chief Financial and Operating Officer</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17196 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:32.44pt\">during </span><span class=\"f charStyle-58d8bcbe ps25672\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps25673\" style=\"width:441.41pt\">, following the consensual termination of his role as Chief Financial and Operating Officer. The</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps17197 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">principal movement in long-term incentive arrangements during the year related to the termination of Chief</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps17198 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Financial and Operating Officer entitlements under the Last\u2011Mile Incentive and LTI plans, in accordance with the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps11421 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:311.44pt\">Group\u2019s remuneration policy and the terms of the existing agreements.</span><span class=\"f charStyle-58d8bcbe ps25674\" style=\"width:2.77pt\"> </span></div><div class=\"ps7439 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:460.29pt\">The following assumptions were used for the fair value measurement of PSU assigned during the year </span><span class=\"f charStyle-58d8bcbe ps25675\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps25676\" style=\"width:13.69pt\">, in</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps17200 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:181.27pt\">connection with LTI plans for Lead Team.</span></div><div class=\"ps16204 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:323.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Black-Scholes and stochastic method - model parameters<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25600 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-40131897 ps8689\">at 31 December 2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps12317 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps8689\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Expected dividends yield (%)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps25602 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25625\"></span><span class=\"ps25625\">1.14%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps12325 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25625\"></span><span class=\"ps25625\">0.71%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Expected volatility (%)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25604 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25623\"></span><span class=\"ps25623\">27.55%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12333 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25623\"></span><span class=\"ps25623\">22.46%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Historic volatility (%)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25624 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25677\"></span><span class=\"ps25677\">34%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12369 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25677\"></span><span class=\"ps25677\">24%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Market interest rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25626 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25625\"></span><span class=\"ps25625\">2.21%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12376 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94\"><span class=\"ps25625\"></span><span class=\"ps25625\">3.30%</span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1893\"><div><div class=\"ps476 ss1892\"><span class=\"f charStyle-183bdf94 ps132\">Expected option life (years)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25628 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25678\">3.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25629 ss943\"><div><div class=\"ps476 ss942\"><span class=\"f charStyle-183bdf94 ps25678\">7.55<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-567": {
   "value": "<div class=\"ps25952 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ix.\u00a0  Basic and Diluted Earnings per Share<span id=\"ica4e63769afc497bb00ea76cba230dc5\"></span></span></div><div class=\"ps25953 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps3005 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Basic earnings per share are calculated by dividing the Group\u2019s net result for the period by the weighted</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21258 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:429.27pt\">average number of shares outstanding during the period, excluding the Group\u2019s own shares held.</span></div><div class=\"ps25954 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">For the purposes of calculating the diluted earnings (loss) per share, the weighted average of outstanding</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25955 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">shares is adjusted in line with the assumption that all potential share-based payment plans and outstanding</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-2293a859 ps56\" style=\"width:221.44pt\">convertible bond shares with diluting effect will be </span><span class=\"f charStyle-2293a859 ps25956\" style=\"width:43.9pt\">converted</span>.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-566": {
   "value": "<div class=\"ps25952 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ix.\u00a0  Basic and Diluted Earnings per Share<span id=\"ica4e63769afc497bb00ea76cba230dc5\"></span></span></div><div class=\"ps25953 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps3005 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Basic earnings per share are calculated by dividing the Group\u2019s net result for the period by the weighted</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps21258 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:429.27pt\">average number of shares outstanding during the period, excluding the Group\u2019s own shares held.</span></div><div class=\"ps25954 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">For the purposes of calculating the diluted earnings (loss) per share, the weighted average of outstanding</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25955 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">shares is adjusted in line with the assumption that all potential share-based payment plans and outstanding</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps25959 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:221.44pt\">convertible bond shares with diluting effect will be </span><span class=\"f charStyle-2293a859 ps25956\" style=\"width:43.9pt\">converted</span><span class=\"f charStyle-2293a859 ps25957\" style=\"width:11.08pt\">.\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps25958\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps21683 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps25975 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:237pt\"></td><td style=\"padding:0;width:86.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25600 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps1136\">31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12317 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps1136\">31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25602 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25691\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12325 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25691\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1910\"><div><div class=\"ps485 ss1909\"><span class=\"f charStyle-183bdf94 ps132\">Group net profit attributable to ordinary shareholders<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25960 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25691\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25604 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25621\">346.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12333 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25621\">201.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1910\"><div><div class=\"ps485 ss1909\"><span class=\"f charStyle-183bdf94 ps132\">Weighted average of ordinary share outstanding<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25962 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25961\">number<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25624 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25963\">1,200,288,280<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12369 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25963\">1,200,346,949<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1910\"><div><div class=\"ps485 ss1909\"><span class=\"f charStyle-ba8ac8da ps132\">Basic earnings per share<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25965 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-ba8ac8da ps25964\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25626 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-ba8ac8da ps25678\">0.29<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12376 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-ba8ac8da ps25678\">0.17<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1910\"><div><div class=\"ps485 ss1909\"><span class=\"f charStyle-183bdf94 ps132\">Group net profit attributable to ordinary shareholders net of dilution<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25966 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25691\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25628 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25621\">361.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25629 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25621\">215.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1910\"><div><div class=\"ps485 ss1909\"><span class=\"f charStyle-183bdf94 ps132\">Weighted average of ordinary share outstanding<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25967 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25961\">number<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25694 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25963\">1,200,288,280<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps25695 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25963\">1,200,346,949<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1910\"><div><div class=\"ps485 ss1909\"><span class=\"f charStyle-183bdf94 ps132\">Dilution effect of share-based payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25968 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25961\">number<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25696 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25969\">14,421,749<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps12468 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25601\">5,816,252<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1910\"><div><div class=\"ps485 ss1909\"><span class=\"f charStyle-183bdf94 ps132\">Dilution effect of convertible bond<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25970 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25961\">number<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25971 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25969\">44,489,500<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps25972 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25969\">44,489,500<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1910\"><div><div class=\"ps485 ss1909\"><span class=\"f charStyle-183bdf94 ps132\">Weighted average of ordinary shares outstanding net of dilution<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25973 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25961\">number<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps25697 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25963\">1,259,199,529<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps25698 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-183bdf94 ps25963\">1,250,652,701<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6297 ss1910\"><div><div class=\"ps485 ss1909\"><span class=\"f charStyle-ba8ac8da ps132\">Diluted earnings per share<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25974 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-ba8ac8da ps25964\">\u20ac<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25700 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-ba8ac8da ps25678\">0.29<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25701 ss943\"><div><div class=\"ps485 ss942\"><span class=\"f charStyle-ba8ac8da ps25678\">0.17<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-573": {
   "value": "<div class=\"ps25977 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Provisions for Risks, Charges and Contingent Assets and Liabilities<span id=\"ia9081d352c7d4bd0a5d90f2f36c22ab9\"></span></span></div><div class=\"ps3959 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps3960 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Provisions arising from legal or constructive obligations resulting from past events are reliably estimated and</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps3961 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">reviewed periodically to reflect changes in circumstances, timescales and discount rates. Revisions to estimates</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3962 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">of provisions are booked to the same statement of profit or loss item that contains the accrual, or, if the liability</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">relates to tangible assets (i.e., dismantling and restoration), these revisions are reported as an offsetting entry to</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps3963 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">the related asset. Where the financial impact of the timing is significant and the payment dates of the obligations</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">can be reliably estimated, the provision is discounted to present value. The related amount over time is</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17511 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">allocated to the statement of profit or loss. When the Group expects that all or part of the provisions will be</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25980 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">repaid by third parties, a receivable is recorded under assets only if it is virtually certain and the accrual and</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25981 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:276.03pt\">related repayment are posted to the statement of profit or loss.</span></div><div class=\"ps1580 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Dedicated restructuring provisions are only reported if there is a restructuring obligation deriving from a formal</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17017 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">detailed restructuring program, which has led to a reasonable expectation by interested parties that the</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25982 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">restructuring will be carried out with an outflow of resources whose amount can be reliably estimated, either</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1540 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">because the process has already started or because the main features of the restructuring program have</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1541 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:128.35pt\">already been communicated.</span></div><div class=\"ps1542 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.23pt\">For detailed information on the accounting policy related to tax provisions, refer to note 3 xiii-\u2018Taxation\u2019.</span><span class=\"f charStyle-2293a859 ps25983\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps1543 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">The Group may be involved in legal proceedings, in respect of which it is not possible to make a reliable</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1544 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">estimate of any expected settlement. Such cases are reported as contingent liabilities with a specific disclosure</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17156 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:180.55pt\">made available for information purposes.</span><span class=\"f charStyle-2293a859 ps25984\" style=\"width:2.77pt\"> </span></div><div class=\"ps25985 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The Group discloses purely contingent assets and provides information when there are material amounts that</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps25986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">are highly likely to be realised. The Group records the relevant asset only when the original uncertainty relating</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25988 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.68pt\">to it no longer applies and it is virtually certain that the asset will be realised</span><span class=\"f charStyle-2293a859 ps25987\" style=\"width:2.77pt\">.</span></div><div class=\"ps26515 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Defined Benefit and Contribution Plans<span id=\"ie00818342c8e417ebceb6ac5d03ee5fc\"></span></span></div><div class=\"ps17523 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps26517 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:124.92pt\">Post-employment benefits</span></div><div class=\"ps26518 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:490.29pt\">Group companies provide post-employment benefits to staff, both directly and by contributing to external funds.</span></div><div class=\"ps3023 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">The procedures for providing these benefits vary depending on the legal, fiscal and economic conditions in each</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps26519 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:163.31pt\">country in which the Group operates.</span></div><div class=\"ps26520 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:93.89pt\">Defined benefit plans</span></div><div class=\"ps25680 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">The Group\u2019s obligations and the annual cost reported in the statement of profit or loss are determined by</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:270.55pt\">independent actuaries using the projected unit credit method.</span></div><div class=\"ps25688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The costs associated with an increase in the present value of the obligation, as the time for payment of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17251 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">benefits draws nearer, are included under financial expenses, while the service costs are posted under the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div>reporting line of cost of sales and selling, general and administrative expenses.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-572": {
   "value": "<div class=\"ps25977 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Provisions for Risks, Charges and Contingent Assets and Liabilities<span id=\"ia9081d352c7d4bd0a5d90f2f36c22ab9\"></span></span></div><div class=\"ps1543 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">The Group may be involved in legal proceedings, in respect of which it is not possible to make a reliable</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1544 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">estimate of any expected settlement. Such cases are reported as contingent liabilities with a specific disclosure</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17156 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:180.55pt\">made available for information purposes.</span><span class=\"f charStyle-2293a859 ps25984\" style=\"width:2.77pt\"> </span></div><div class=\"ps25985 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The Group discloses purely contingent assets and provides information when there are material amounts that</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps25986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">are highly likely to be realised. The Group records the relevant asset only when the original uncertainty relating</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25988 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.68pt\">to it no longer applies and it is virtually certain that the asset will be realised</span><span class=\"f charStyle-2293a859 ps25987\" style=\"width:2.77pt\">.</span></div><div class=\"ps26111 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:81.1pt\">Contingent liability</span></div><div class=\"ps26112 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The information reported below concerns contingent liabilities arising from outstanding disputes, for which the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26114 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:323.83pt\">provision recognition criteria have not been met on the date of this report.</span><span class=\"f charStyle-58d8bcbe ps26113\" style=\"width:2.77pt\"> </span></div><div class=\"ps26115 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">After having finally resolved the outstanding dispute related to ICMS (tax on the consumption of goods and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26116 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">services), the following dispute is still outstanding with the Brazilian tax authorities; however, the Group believes</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps26117 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">it is unlikely to lose the case, based on the information available at the date of this report. On the date of this</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps26120 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:419.14pt\">report, a dispute amounting to BRL6.6 million (\u20ac1.0 million at the exchange rate on 31 </span><span class=\"f charStyle-58d8bcbe ps26118\" style=\"width:46.12pt\">December</span><span class=\"f charStyle-58d8bcbe ps26119\" style=\"width:30.88pt\"> 2025)</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps10271 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">including the related penalties (excluding interests) corresponding to production tax (IPI) remains ongoing. The<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps10272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">tax authorities contested the correct classification of products sold by Campari do Brasil Ltda.. Based on the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps10273 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">assessments conducted by external legal consultants, the Group believes that the outcome of the dispute will be</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps10274 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:451.95pt\">in favour of the Company. It is therefore deemed unnecessary at present to create a specific provision.</span></div><div class=\"ps26126 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Commitments and Risks<span id=\"ibc2397973d78493993013f4c55e0c2b3\"></span></span></div><div class=\"ps26128 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps24677 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">Guarantees are disclosed at fair value determined based on the present value of the difference in cash flows</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps26129 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">between the contractual payments required under the debt instrument and the payments that would be required</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps26130 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">without the guarantee, or the estimated amount that would be payable to a third party for assuming the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26131 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:50.56pt\">obligations.</span></div><div class=\"ps26133 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:404.94pt\">For the accounting policy on financial guarantees, please refer to note 6-\u2018Net financial debt\u2019.</span><span class=\"f charStyle-2293a859 ps26132\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure<span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">The main commitments and risks of the Campari Group on the reporting date are divided into the following<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:48.89pt\">categories:</span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-ca5f4806 ps1256\" style=\"width:268.08pt\">Contractual commitments to purchase goods or services</span><span class=\"f charStyle-58d8bcbe ps26134\" style=\"width:213.96pt\"> totalled \u20ac580.1 million (\u20ac566.0 million at 31</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">December 2024). These mainly included commitments for the purchase of packaging and pallets, amounting</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.04pt\">to \u20ac 228.5 million (\u20ac195.7 million at 31 December 2024); the purchase of raw materials, semi-finished goods</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">totalling \u20ac263.8 million (\u20ac260.1 million at 31 December 2024); initiatives to enhance and outsource selected</span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.95pt\">Group information technology services totalling \u20ac22.4 million (\u20ac21.6 million in 2024); the purchase of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.04pt\">advertising and promotional services and sponsorships totalling \u20ac20.2 million (\u20ac20.3 million at 31 December</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:412.14pt\">2024); as well as for advisory services for \u20ac 22.2 million (\u20ac34.3 million at 31 December 2024).</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-ca5f4806 ps1256\" style=\"width:443.14pt\">Contractual commitments for purchasing of property, plant and equipment, and intangible assets</span><span class=\"f charStyle-58d8bcbe ps26135\" style=\"width:38.88pt\"> totalling</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:5.56pt\">\u20ac<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps7210\" style=\"width:11.12pt\">37</span><span class=\"f charStyle-58d8bcbe ps26136\" style=\"width:8.33pt\">.2</span><span class=\"f charStyle-58d8bcbe ps7211\" style=\"width:456.92pt\"> million (\u20ac18.3 million at 31 December 2024). The increase compared to 2024 mainly relates to tangible</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:31.66pt\">assets.</span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-ca5f4806 ps1256\" style=\"width:92.79pt\">Financial guarantees</span><span class=\"f charStyle-58d8bcbe ps26137\" style=\"width:389.21pt\">. Following the disposal of Tannico by the Dioniso Group, no further financial guarantees</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:86.13pt\">have been granted.</span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-ca5f4806 ps1256\" style=\"width:80.91pt\">Other guarantees.</span><span class=\"f charStyle-58d8bcbe ps26138\" style=\"width:401.02pt\"> The Group has provided other forms of security in favour of third parties, totalling \u20ac 757.6</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.95pt\">million at 31 December 2025 (\u20ac677.0 million at 31 December 2024). These mainly include securities to</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482pt\">Group companies for credit lines totalling \u20ac692.3 million (\u20ac602.4 million at 31 December 2024) and customs</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:391.06pt\">guarantees for excise duties totalling \u20ac 65.3 million (\u20ac61.6 million at 31 December 2024).</span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-ca5f4806 ps1256\" style=\"width:436.58pt\">Contractual commitments for the use of third-party assets not recognised using lease accounting.</span><span class=\"f charStyle-58d8bcbe ps26139\" style=\"width:45.45pt\"> The table</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.93pt\">below breaks down the amounts owed by the Group in future periods by maturity, relating to the main</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482pt\">contractual commitments for the use of third-party assets. At 31 December 2025 they mainly related to</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">warehouses for storing goods and maturing stock as well as information technology, buildings and vehicles.</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.59pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.99pt\">The decrease compared to 2024 is primarily attributable to lower expenses for warehouse space for storing</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">stocks and maturing inventories, which were recognised as lease contracts, and a reduction in information</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:130.56pt\">technology and vehicle costs.</span></div><div class=\"ps12357 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:255.75pt\"></td><td style=\"padding:0;width:120pt\"></td><td style=\"padding:0;width:120pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26140 ss807\"><div><div class=\"ps476 ss806\"><span class=\"f charStyle-183bdf94 ps16160\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15309 ss807\"><div><div class=\"ps476 ss806\"><span class=\"f charStyle-183bdf94 ps16160\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26142 ss1915\"><div><div class=\"ps22869 ss806\"><span class=\"f charStyle-183bdf94 ps26141\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps15313 ss1915\"><div><div class=\"ps22869 ss806\"><span class=\"f charStyle-183bdf94 ps26141\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1916\"><div><div class=\"ps476 ss1913\"><span class=\"f charStyle-183bdf94 ps132\">Within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26143 ss807\"><div><div class=\"ps476 ss806\"><span class=\"f charStyle-183bdf94 ps18960\">19.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26144 ss807\"><div><div class=\"ps476 ss806\"><span class=\"f charStyle-183bdf94 ps18960\">17.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"padding:0\"><div class=\"ps490 ss1917\"><div><div class=\"ps22869 ss1913\"><span class=\"f charStyle-183bdf94 ps132\">1-5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26145 ss1915\"><div><div class=\"ps22869 ss806\"><span class=\"f charStyle-183bdf94 ps18960\">32.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26146 ss1915\"><div><div class=\"ps22869 ss806\"><span class=\"f charStyle-183bdf94 ps18960\">44.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7311 ss1917\"><div><div class=\"ps22869 ss1913\"><span class=\"f charStyle-183bdf94 ps132\">After 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26147 ss1915\"><div><div class=\"ps22869 ss806\"><span class=\"f charStyle-183bdf94 ps18960\">25.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26148 ss1915\"><div><div class=\"ps22869 ss806\"><span class=\"f charStyle-183bdf94 ps18960\">24.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13077 ss1916\"><div><div class=\"ps476 ss1913\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26149 ss807\"><div><div class=\"ps476 ss806\"><span class=\"f charStyle-ba8ac8da ps18960\">77.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26150 ss807\"><div><div class=\"ps476 ss806\"><span class=\"f charStyle-ba8ac8da ps18960\">86.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-571": {
   "value": "<div class=\"ps25977 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Provisions for Risks, Charges and Contingent Assets and Liabilities<span id=\"ia9081d352c7d4bd0a5d90f2f36c22ab9\"></span></span></div><div class=\"ps1543 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">The Group may be involved in legal proceedings, in respect of which it is not possible to make a reliable</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1544 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">estimate of any expected settlement. Such cases are reported as contingent liabilities with a specific disclosure</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17156 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:180.55pt\">made available for information purposes.</span><span class=\"f charStyle-2293a859 ps25984\" style=\"width:2.77pt\"> </span></div><div class=\"ps25985 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The Group discloses purely contingent assets and provides information when there are material amounts that</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps25986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">are highly likely to be realised. The Group records the relevant asset only when the original uncertainty relating</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25988 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.68pt\">to it no longer applies and it is virtually certain that the asset will be realised</span><span class=\"f charStyle-2293a859 ps25987\" style=\"width:2.77pt\">.</span></div><div class=\"ps26111 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:81.1pt\">Contingent liability</span></div><div class=\"ps26112 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The information reported below concerns contingent liabilities arising from outstanding disputes, for which the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26114 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:323.83pt\">provision recognition criteria have not been met on the date of this report.</span><span class=\"f charStyle-58d8bcbe ps26113\" style=\"width:2.77pt\"> </span></div><div class=\"ps26115 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">After having finally resolved the outstanding dispute related to ICMS (tax on the consumption of goods and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26116 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">services), the following dispute is still outstanding with the Brazilian tax authorities; however, the Group believes</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps26117 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">it is unlikely to lose the case, based on the information available at the date of this report. On the date of this</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps26120 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:419.14pt\">report, a dispute amounting to BRL6.6 million (\u20ac1.0 million at the exchange rate on 31 </span><span class=\"f charStyle-58d8bcbe ps26118\" style=\"width:46.12pt\">December</span><span class=\"f charStyle-58d8bcbe ps26119\" style=\"width:30.88pt\"> 2025)</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps10271 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">including the related penalties (excluding interests) corresponding to production tax (IPI) remains ongoing. The<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps10272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">tax authorities contested the correct classification of products sold by Campari do Brasil Ltda.. Based on the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps10273 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">assessments conducted by external legal consultants, the Group believes that the outcome of the dispute will be</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps10274 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:451.95pt\">in favour of the Company. It is therefore deemed unnecessary at present to create a specific provision.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-570": {
   "value": "<div class=\"ps25977 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Provisions for Risks, Charges and Contingent Assets and Liabilities<span id=\"ia9081d352c7d4bd0a5d90f2f36c22ab9\"></span></span></div><div class=\"ps1543 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">The Group may be involved in legal proceedings, in respect of which it is not possible to make a reliable</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1544 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">estimate of any expected settlement. Such cases are reported as contingent liabilities with a specific disclosure</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17156 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:180.55pt\">made available for information purposes.</span><span class=\"f charStyle-2293a859 ps25984\" style=\"width:2.77pt\"> </span></div><div class=\"ps25985 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The Group discloses purely contingent assets and provides information when there are material amounts that</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps25986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">are highly likely to be realised. The Group records the relevant asset only when the original uncertainty relating</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25988 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.68pt\">to it no longer applies and it is virtually certain that the asset will be realised</span><span class=\"f charStyle-2293a859 ps25987\" style=\"width:2.77pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-569": {
   "value": "<div class=\"ps25977 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Provisions for Risks, Charges and Contingent Assets and Liabilities<span id=\"ia9081d352c7d4bd0a5d90f2f36c22ab9\"></span></span></div><div class=\"ps3959 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps3960 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Provisions arising from legal or constructive obligations resulting from past events are reliably estimated and</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps3961 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">reviewed periodically to reflect changes in circumstances, timescales and discount rates. Revisions to estimates</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3962 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">of provisions are booked to the same statement of profit or loss item that contains the accrual, or, if the liability</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">relates to tangible assets (i.e., dismantling and restoration), these revisions are reported as an offsetting entry to</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps3963 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">the related asset. Where the financial impact of the timing is significant and the payment dates of the obligations</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">can be reliably estimated, the provision is discounted to present value. The related amount over time is</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17511 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">allocated to the statement of profit or loss. When the Group expects that all or part of the provisions will be</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25980 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">repaid by third parties, a receivable is recorded under assets only if it is virtually certain and the accrual and</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25981 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:276.03pt\">related repayment are posted to the statement of profit or loss.</span></div><div class=\"ps1580 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Dedicated restructuring provisions are only reported if there is a restructuring obligation deriving from a formal</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17017 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">detailed restructuring program, which has led to a reasonable expectation by interested parties that the</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25982 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">restructuring will be carried out with an outflow of resources whose amount can be reliably estimated, either</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1540 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">because the process has already started or because the main features of the restructuring program have</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1541 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:128.35pt\">already been communicated.</span></div><div class=\"ps25990 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps17029 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:106.08pt\">Provision for risks and c</span><span class=\"f charStyle-ca5f4806 ps4932\" style=\"width:30.57pt\">harges<span class=\"f ps21\"> </span></span></div><div class=\"ps26035 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:207pt\"></td><td style=\"padding:0;width:72pt\"></td><td style=\"padding:0;width:72pt\"></td><td style=\"padding:0;width:72pt\"></td><td style=\"padding:0;width:72pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4586 ss1434\"><div><div class=\"ps979 ss199\"><span class=\"f charStyle-183bdf94 ps25992\">tax provision<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10809 ss1434\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-40131897 ps25993\">restructuring </span></div><div class=\"ps2777 ss199\"><span class=\"f charStyle-40131897 ps25994\">provisions</span><span class=\"f charStyle-85922b7e ps25995\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25997 ss1434\"><div><div class=\"ps979 ss199\"><span class=\"f charStyle-183bdf94 ps25996\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25999 ss1434\"><div><div class=\"ps979 ss199\"><span class=\"f charStyle-183bdf94 ps25998\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4595 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12798 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26001 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26002 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4607 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26003\">8.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12804 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">76.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26005 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">34.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26007 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26006\">118.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-183bdf94 ps132\">Accruals<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4617 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12807 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">4.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26009 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">7.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26010 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26004\">12.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-183bdf94 ps132\">Utilisations<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25734 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12810 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26011\">(42.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26013 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(5.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26014 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26011\">(47.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-183bdf94 ps132\">Releases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25739 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12813 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps2656\">(11.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26015 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(6.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26016 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26011\">(18.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25743 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12816 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26017 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(1.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26018 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4628 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4632 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26003\">7.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26019 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">25.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26020 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">28.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26021 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">61.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1911\"><div><div class=\"ps13402 ss262\"><span class=\"f charStyle-183bdf94 ps132\">of which:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26022 ss1912\"><div><div class=\"ps13402 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26023 ss1912\"><div><div class=\"ps13402 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26024 ss1912\"><div><div class=\"ps13402 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26025 ss1912\"><div><div class=\"ps13402 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps26026 ss1580\"><div><div class=\"ps2776 ss262\"><span class=\"f charStyle-d669f8f1 ps132\">- due within 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26027 ss200\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-d669f8f1 ps26003\">6.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26028 ss200\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-d669f8f1 ps26004\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26029 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">9.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26030 ss200\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-d669f8f1 ps26004\">37.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8335 ss1580\"><div><div class=\"ps2776 ss262\"><span class=\"f charStyle-d669f8f1 ps132\">- due after 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26031 ss200\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-d669f8f1 ps26003\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26032 ss200\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-d669f8f1 ps26003\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26033 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26004\">19.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26034 ss200\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-d669f8f1 ps26004\">23.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26036 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.53pt\"> The restructuring provision recorded a movement during the year, reflecting the release of the portion of the provision originally recognised for the</span><span class=\"f charStyle-40131897 ps123\" style=\"width:1.94pt\"> </span></div><div class=\"ps26037 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:496.08pt\">restructuring programme. The release relates to personnel who subsequently left the Group but were not initially included in the restructuring plan, with the</span><span class=\"f charStyle-40131897 ps123\" style=\"width:1.94pt\"> </span></div><div class=\"ps26038 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:340.93pt\">amounts corresponding to payments that were, in any case, executed in respect of such departing employees.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:207.75pt\"></td><td style=\"padding:0;width:72pt\"></td><td style=\"padding:0;width:72pt\"></td><td style=\"padding:0;width:72pt\"></td><td style=\"padding:0;width:72pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26039 ss1434\"><div><div class=\"ps979 ss199\"><span class=\"f charStyle-183bdf94 ps25992\">tax provision<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12383 ss1434\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-183bdf94 ps25993\">restructuring <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss199\"><span class=\"f charStyle-183bdf94 ps26040\">provisions</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26041 ss1434\"><div><div class=\"ps979 ss199\"><span class=\"f charStyle-183bdf94 ps25996\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7940 ss1434\"><div><div class=\"ps979 ss199\"><span class=\"f charStyle-183bdf94 ps25998\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26042 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26043 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26044 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26045 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26046 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26003\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12394 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26003\">6.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24701 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">29.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26047 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">41.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">Perimeter effect for acquisition<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26048 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">3.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12401 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26049 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26050 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">3.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">Accruals<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26051 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12405 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26006\">102.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26052 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26004\">14.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26054 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26053\">116.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">Utilisations<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26055 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12410 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26011\">(30.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26056 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps2656\">(11.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26057 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26011\">(42.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">Releases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26058 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12414 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(2.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26059 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8001 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(5.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">Reclassification<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26060 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12419 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26061 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26062 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26063 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26064 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26065 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(2.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26066 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26067 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26003\">8.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26068 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">76.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26069 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">34.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26070 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26006\">118.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">Of which:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26071 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26072 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26073 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26074 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4642 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">- due within 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26075 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">7.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26076 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26004\">70.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26078 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26077\">11.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26079 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26004\">88.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4652 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">- due after 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26080 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26081 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">6.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26082 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26004\">22.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26083 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26004\">29.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26087 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:399.13pt\">On 29 October 2024 a restructuring program was launched, reflecting a balance of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26085\" style=\"width:19.45pt\">25.1</span><span class=\"f charStyle-58d8bcbe ps26086\" style=\"width:77.54pt\"> million as of 31<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26088 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">December 2025. This initiative is among several strategic measures aimed at enhancing performance,</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps26089 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">alongside efforts to drive growth, improve profitability, streamline processes and contain costs. At 31 December</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps26092 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:346.65pt\">2025, payments related to employee severance under the plan amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps26090\" style=\"width:19.45pt\">54.4</span><span class=\"f charStyle-58d8bcbe ps26091\" style=\"width:130.08pt\"> million (total cash outflow for</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps26095 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:140.61pt\">employee termination of \u20ac62.9 </span><span class=\"f charStyle-58d8bcbe ps26093\" style=\"width:28.33pt\">million</span><span class=\"f charStyle-58d8bcbe ps9764\" style=\"width:9.54pt\">). </span><span class=\"f charStyle-58d8bcbe ps26094\" style=\"width:317.61pt\">The program yielded incremental benefits in the latter part of the year,</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps26096 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">with the majority of the planned cost containment initiatives already underway. The program remains on track to</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps26097 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">deliver a cumulative 200 basis point improvement in the selling, general and administrative expenses-to-sales</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps26099 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:422.36pt\">ratio over the period 2025 to 2027, of which 70 basis points were already achieved in 2025. </span><span class=\"f charStyle-58d8bcbe ps26098\" style=\"width:73.76pt\">Other provisions</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps26100 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">involved recognition by the Company and subsidiaries of liabilities for various lawsuits, including a Brazilian</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps26101 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">legal dispute totalling \u20ac9.8 million over a distribution agreement, provision for onerous contract in China (\u20ac4.1</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps26102 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">million) and a number of customer and supplier legal claims in France and Mexico totalling \u20ac5.9 million.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps12210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:394.7pt\">Moreover, the other provisions for risks and charges were utilised for a total amount of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26103\" style=\"width:13.89pt\">5.0</span><span class=\"f charStyle-58d8bcbe ps26104\" style=\"width:87.6pt\"> million to offset the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26105 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">cost deriving from the settlement of legal cases, primarily in Italy, the United States and New Zealand.</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26108 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:93.53pt\">Provisions totalling \u20ac</span><span class=\"f charStyle-58d8bcbe ps26106\" style=\"width:13.89pt\">6.4</span><span class=\"f charStyle-58d8bcbe ps26107\" style=\"width:388.81pt\"> million were released, primarily in relation to a dispute in the United States that is no</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26109 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:474.17pt\">longer outstanding. Significant effect of the passage of time over provisions was deemed to be not material.</span></div><div class=\"ps26515 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iv.\u00a0  Defined Benefit and Contribution Plans<span id=\"ie00818342c8e417ebceb6ac5d03ee5fc\"></span></span></div><div class=\"ps17523 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps26517 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:124.92pt\">Post-employment benefits</span></div><div class=\"ps26518 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:490.29pt\">Group companies provide post-employment benefits to staff, both directly and by contributing to external funds.</span></div><div class=\"ps3023 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">The procedures for providing these benefits vary depending on the legal, fiscal and economic conditions in each</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps26519 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:163.31pt\">country in which the Group operates.</span></div><div class=\"ps26520 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:93.89pt\">Defined benefit plans</span></div><div class=\"ps25680 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">The Group\u2019s obligations and the annual cost reported in the statement of profit or loss are determined by</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25682 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:270.55pt\">independent actuaries using the projected unit credit method.</span></div><div class=\"ps25688 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">The costs associated with an increase in the present value of the obligation, as the time for payment of the</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps17251 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">benefits draws nearer, are included under financial expenses, while the service costs are posted under the</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps26522 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:354.4pt\">reporting line of cost of sales and selling, general and administrative expenses.\u00a0 <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps26521\" style=\"width:5.54pt\">\u00a0 </span></div><div class=\"ps26531 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps26532 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Regarding the Group\u2019s Italian subsidiaries, the defined benefit plans consist of the employee indemnity liability<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps12526 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">(\u2018TFR\u2019), to which its employees are entitled by law. Following the reform of the supplementary pension scheme</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps12527 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">in 2007, for companies employing at least 50 people, TFR contributions accrued up to 31 December 2006 are</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps12528 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">considered to be \u2018defined benefit plans\u2019, while contributions accruing from 1 January 2007, which have been</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps12530 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">allocated to a fund held at the INPS (Italian social security agency) or to supplementary pension funds, are</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps26533 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">considered to be \u2018defined contribution plans\u2019. The portion of the TFR considered as a defined benefit plan</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">consists of an unfunded plan that does not, therefore, hold any dedicated assets. The other unfunded defined</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">benefit plans relate to Campari France Distribution SAS, Courvoisier SAS and Jubert SAS. Campari</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">Deutschland GmbH and Campari Schweiz A.G. have some funded defined benefit plans in place for employees</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:275.92pt\">and/or former employees. These plans have dedicated assets.</span><span class=\"f charStyle-58d8bcbe ps26534\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">The liability for medical insurance in place at 31 December 2025 relates to J. Wray and Nephew Ltd. and offers</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">access to health care provided that employees stay with the company until pensionable age and have</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">completed a minimum period of service. The cost of these benefits is spread over the employee\u2019s service period</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:341.07pt\">using a calculation methodology similar to that used for defined benefit plans.</span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">The following table summarises the changes in the present value of defined benefit obligations, and the fair</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:186.62pt\">values of the assets relating to the plan in </span><span class=\"f charStyle-58d8bcbe ps26535\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps26536\" style=\"width:22.22pt\"> and </span><span class=\"f charStyle-58d8bcbe ps26537\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps26538\" style=\"width:2.77pt\">.</span><span class=\"f charStyle-58d8bcbe ps26539\" style=\"width:2.77pt\"> </span></div><div class=\"ps15446 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:329.25pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:83.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6835 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26540\">liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24088 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps22595\">assets<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1842\"><div><div class=\"ps476 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Liabilities (assets) at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22186 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23823\">36.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24042 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(5.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in profit or loss:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-40131897 ps132\">current service costs</span><span class=\"f charStyle-85922b7e ps26541\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22199 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24044 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- past service costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24045 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24046 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- reduction/plan amendment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24047 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24048 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- net interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24049 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24050 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">- gains/(losses) on regulations implemented<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24052 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24053 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24055 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23827\">2.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24056 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in the statement of other comprehensive income:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- gain (losses) resulting from changes in actuarial assumptions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22231 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24059 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22240 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24060 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5134 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24061 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(2.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5140 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9630 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">Other changes:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- benefits paid<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24065 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(2.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24066 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- contribution to the plan by other members<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24069 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24070 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11650 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- contributions to the plan by employees<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24071 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24072 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11655 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- benefits transferred<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24073 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24074 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11659 ss1842\"><div><div class=\"ps476 ss1840\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:48.6pt\">- other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24076 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24077 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11663 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26543 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(4.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26544 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23827\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11174 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-4b81288d ps132\">Liabilities (assets) at 31 December 2025</span><span class=\"f charStyle-263a08f6 ps26545\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24078 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23823\">31.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24079 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(5.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26547 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:162.06pt\">Of which \u20ac1.1 million related to defined benefit plans</span><span class=\"f charStyle-40131897 ps26546\" style=\"width:92.1pt\"> and \u20ac-0.4 million related to ot</span><span class=\"f charStyle-40131897 ps14192\" style=\"width:40.4pt\">her liabilities.</span></div><div class=\"ps26551 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.39pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps26548\" style=\"width:366.2pt\">Of which \u20ac22.3 million included under Defined Benefit Plans (note 8 iv-'Defined benefit and contribution plans') and </span><span class=\"f charStyle-40131897 ps26549\" style=\"width:43.9pt\">\u20ac4.1 million in</span><span class=\"f charStyle-40131897 ps26550\" style=\"width:78.71pt\">cluded under Other Non-</span></div><div class=\"ps26552 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:357.85pt\">Current Liabilities (note 4 vi-'Other non-current liabilities' of this Campari Group Consolidated Financial Statements).</span></div><div class=\"ps26556 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:329.25pt\"></td><td style=\"padding:0;width:83.25pt\"></td><td style=\"padding:0;width:83.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6835 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26540\">liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24088 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps22595\">assets<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1842\"><div><div class=\"ps476 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Liabilities (assets) at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22186 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23823\">31.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24042 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(4.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in profit or loss:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1842\"><div><div class=\"ps485 ss1840\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b7fd29e5 ps132\" style=\"width:69.74pt\">'- current service costs</span><span class=\"f charStyle-3ee680ac ps26554\" style=\"width:5.55pt\"><sup>(1)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22199 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24044 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- net interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24045 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24046 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24047 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23827\">1.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24048 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in the statement of other comprehensive income:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- gain (losses) resulting from changes in actuarial assumptions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24052 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24053 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24055 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23827\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24056 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">Other changes:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- benefits paid<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22231 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24059 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1842\"><div><div class=\"ps485 ss1840\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b7fd29e5 ps132\" style=\"width:72.86pt\">'- business combination</span><span class=\"f charStyle-3ee680ac ps26555\" style=\"width:5.55pt\"><span class=\"f ps21\"> </span><sup>(2)</sup></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22240 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24060 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- contribution to the plan by other members<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24061 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps5140 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- contributions to the plan by employees<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24063 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24064 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-183bdf94 ps132\">- benefits transferred<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24065 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps23713\">(1.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24066 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps11645 ss1842\"><div><div class=\"ps476 ss1840\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:48.6pt\">- other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24069 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps23827\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24070 ss588\"><div><div class=\"ps485 ss288\"><span class=\"f charStyle-183bdf94 ps26542\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps11650 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24071 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23827\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24072 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11655 ss1842\"><div><div class=\"ps485 ss1840\"><span class=\"f charStyle-4b81288d ps132\">Liabilities (assets) at 31 December 2024</span><span class=\"f charStyle-263a08f6 ps26545\"><sup>(3)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24073 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23823\">36.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24074 ss588\"><div><div class=\"ps476 ss288\"><span class=\"f charStyle-ba8ac8da ps23713\">(5.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26557 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:292.23pt\">Of which \u20ac0.7 million related to defined benefit plans and \u20ac0.2 million related to other liabilities.</span></div><div class=\"ps26559 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:271.29pt\">Of which \u20ac3.1 million of business combination and \u20ac0.3 million of movement of the year.</span><span class=\"f charStyle-40131897 ps26558\" style=\"width:1.94pt\"> </span></div><div class=\"ps26561 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.44pt\"><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps26560\" style=\"width:488.73pt\">Of which \u20ac25.9 million included under Defined Benefit Plans (note 8 iv-'Defined benefit and contribution plans'); of which \u20ac5.4 million included under Other</span><span class=\"f charStyle-40131897 ps118\" style=\"width:1.94pt\"> </span></div><div class=\"ps26562 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:374.95pt\">Non-Current Liabilities (note 4 vi- 'Other non-current liabilities' of this Campari Group Consolidated Financial Statements).</span></div><div class=\"ps22936 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:20.86pt\">The </span><span class=\"f charStyle-58d8bcbe ps26563\" style=\"width:64.2pt\">following table</span><span class=\"f charStyle-58d8bcbe ps6061\" style=\"width:411.03pt\"> shows the total changes in obligations for defined benefit plans financed using assets that</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps22937 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">serve the plan (funded obligations) and the liabilities relating to long-term unfunded benefits. It also includes</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps22942 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">benefits categorised as \u2018other liabilities\u2019 linked to medical cover provided by J. Wray and Nephew Ltd. to its</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps22943 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:448.59pt\">current and/or former employees, and the long-term benefits of the Group\u2019s Italian companies (\u2018TFR\u2019).</span></div></div><div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:187.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Current value of obligations<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7930 ss931\"><div><div class=\"ps476 ss930\"><span class=\"f charStyle-183bdf94 ps26564\">unfunded obligations<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25872 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps6566\">funded obligations<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1971\"><div><div class=\"ps979 ss363\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22183 ss1437\"><div><div class=\"ps979 ss1423\"><span class=\"f charStyle-183bdf94 ps26565\">pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11809 ss1437\"><div><div class=\"ps979 ss1423\"><span class=\"f charStyle-183bdf94 ps26566\">other liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26568 ss1437\"><div><div class=\"ps2776 ss1423\"><span class=\"f charStyle-183bdf94 ps26567\">gross value of <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1423\"><span class=\"f charStyle-183bdf94 ps26565\">pension plans</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12113 ss1437\"><div><div class=\"ps2776 ss1423\"><span class=\"f charStyle-183bdf94 ps4114\">fair value of <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1423\"><span class=\"f charStyle-183bdf94 ps20499\">assets</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4104 ss1437\"><div><div class=\"ps979 ss1423\"><span class=\"f charStyle-183bdf94 ps26569\">net values<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-ba8ac8da ps132\">Liabilities (assets) at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26571 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26570\">24.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4608 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">5.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26573 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12123 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(5.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12125 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">1.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in profit or loss:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- current service costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26574 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26575 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26576 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26577 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26578 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- past service costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26579 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26581 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26582 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26583 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps4552 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- reduction/plan amendment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps7990 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26584 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26585 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps15962 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26586 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- net interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26587 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps4633 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26588 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26589 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26590 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6894 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- gains/(losses) on regulations implemented<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26591 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26592 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26593 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26594 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26595 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26596 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26597 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26598 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26599 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26600 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss1971\"><div><div class=\"ps1094 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in the statement of other <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss363\"><span class=\"f charStyle-183bdf94 ps132\">comprehensive income:</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps12742 ss1971\"><div><div class=\"ps1094 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- gain/(losses) resulting from changes in actuarial <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss363\"><span class=\"f charStyle-183bdf94 ps132\">assumptions</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26601 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26602 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26603 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26604 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26605 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14096 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26606 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26607 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26608 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26609 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26610 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19374 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26611 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26612 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26613 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26614 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26615 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19377 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">Other changes:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps25084 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- benefits paid<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26616 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26617 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26618 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26619 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26620 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps25097 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- contribution to the plan by other members<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26621 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26622 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26623 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26624 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26625 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps20135 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- contributions to the plan by employees<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26626 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26627 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26628 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26629 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26630 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14031 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-183bdf94 ps132\">- benefits transferred<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26631 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26632 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26633 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26634 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26635 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14032 ss364\"><div><div class=\"ps476 ss363\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:48.6pt\">- other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22298 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26636 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26637 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26638 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26639 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25145 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26640 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(3.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26641 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26642 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26643 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26644 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14105 ss364\"><div><div class=\"ps476 ss363\"><span class=\"f charStyle-4b81288d ps132\">Liabilities (assets) at 31 December 2025</span><span class=\"f charStyle-263a08f6 ps26545\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26645 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26570\">20.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26646 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">4.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26647 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">6.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26648 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(5.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26649 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">1.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26653 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.5pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps26650\" style=\"width:363.9pt\">Of which \u20ac22.3 million included under Defined benefit plans (note 8 iv-'Defined benefit and contribution plans') and</span><span class=\"f charStyle-40131897 ps26651\" style=\"width:34.79pt\"> \u20ac4.1 millio</span><span class=\"f charStyle-40131897 ps26652\" style=\"width:89.84pt\">n included under Other non-</span></div><div class=\"ps26654 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:353.96pt\">current liabilities (note 4 vi-'Other non-current liabilities' of this Campari Group Consolidated Financial Statements).</span></div><div class=\"ps26737 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:188.25pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td><td style=\"padding:0;width:61.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">Current value of obligations<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22022 ss931\"><div><div class=\"ps476 ss930\"><span class=\"f charStyle-183bdf94 ps26564\">unfunded obligations<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22862 ss1042\"><div><div class=\"ps476 ss1041\"><span class=\"f charStyle-183bdf94 ps6566\">funded obligations<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1973\"><div><div class=\"ps979 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26656 ss1437\"><div><div class=\"ps979 ss1423\"><span class=\"f charStyle-183bdf94 ps26565\">pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20503 ss1437\"><div><div class=\"ps979 ss1423\"><span class=\"f charStyle-183bdf94 ps26566\">other liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22864 ss1437\"><div><div class=\"ps2776 ss1423\"><span class=\"f charStyle-183bdf94 ps26567\">gross value of <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1423\"><span class=\"f charStyle-183bdf94 ps26565\">pension plans</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26657 ss1437\"><div><div class=\"ps2776 ss1423\"><span class=\"f charStyle-183bdf94 ps4114\">fair value of <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1423\"><span class=\"f charStyle-183bdf94 ps20499\">assets</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26658 ss1437\"><div><div class=\"ps979 ss1423\"><span class=\"f charStyle-183bdf94 ps26569\">net values<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-ba8ac8da ps132\">Liabilities (assets) at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26659 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26570\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26660 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">3.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22871 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">5.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24111 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(4.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26661 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in profit or loss:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- current service costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22037 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26662 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26663 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24122 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26664 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- past service costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps22048 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26665 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps4549 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24128 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26666 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- net interest<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26667 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26668 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26669 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps24137 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps21482 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4628 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26670 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26671 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26672 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps24145 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26673 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1973\"><div><div class=\"ps1094 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">Amounts included in the statement of other comprehensive <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">income:</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps8719 ss1973\"><div><div class=\"ps1094 ss1713\"><span class=\"f charStyle-40131897 ps132\">- gain/(losses) resulting from changes in actuarial </span></div><div class=\"ps473 ss1713\"><span class=\"f charStyle-40131897 ps132\">assumptions</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26674 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26675 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26676 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26677 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26678 ss1437\"><div><div class=\"ps473 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14175 ss1714\" style=\"overflow:hidden\"><div><div class=\"ps26680 ss1713\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:182.96pt\">- changes to plan assets (excluding components already<span class=\"f ps21\"> </span></span><span class=\"f charStyle-183bdf94 ps26679\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26681 ss1713\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:106.9pt\">considered in net interest payable)</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26682 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26683 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26684 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26685 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26686 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5299 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26687 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26688 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26689 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26690 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26691 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14096 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26692 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26693 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26694 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26695 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26696 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19374 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">Other changes:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps19377 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- benefits paid<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26697 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26698 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26699 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26700 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26701 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps25084 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- business combination<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26702 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">3.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26703 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26704 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26705 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26706 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps25097 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- contribution to the plan by other members<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26707 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26708 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26709 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26710 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26711 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps20135 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- contributions to the plan by employees<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26712 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26713 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26714 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26715 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26716 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14031 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-183bdf94 ps132\">- benefits transferred<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26717 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps17650\">(1.7)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26718 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26719 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26720 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26721 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14032 ss1714\"><div><div class=\"ps476 ss1713\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:48.6pt\">- other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26722 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26572\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26723 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26724 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26725 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26726 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-183bdf94 ps26580\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps25145 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26727 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26728 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">1.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26729 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26730 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26731 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(0.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14105 ss1714\"><div><div class=\"ps476 ss1713\"><span class=\"f charStyle-4b81288d ps132\">Liabilities (assets) at 31 December 2024</span><span class=\"f charStyle-263a08f6 ps26545\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26732 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-ba8ac8da ps26570\">24.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26733 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">5.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26734 ss1972\"><div><div class=\"ps485 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26735 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps17650\">(5.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26736 ss1972\"><div><div class=\"ps476 ss1423\"><span class=\"f charStyle-ba8ac8da ps26572\">1.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26738 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.5pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps26650\" style=\"width:488.53pt\">Of which \u20ac25.9 million included under Defined benefit plans (note 8 iv-'Defined benefit and contribution plans') and \u20ac5.4 million included under Other non-</span></div><div class=\"ps26739 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:352.8pt\">current liabilities (note 4 vi-'Other non-current liabilities' of this Campari Group Consolidated Financial statements).</span></div><div class=\"ps19818 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">The cost of work provided is classified under personnel costs, financial liabilities on obligations are classified</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps17294 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">under financial liabilities, and the effects of the recalculation of actuarial impacts are recognised in the other</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps19819 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:269.82pt\">items of the statement of other comprehensive income. The </span><span class=\"f charStyle-58d8bcbe ps26740\" style=\"width:63.77pt\">following table</span><span class=\"f charStyle-58d8bcbe ps26741\" style=\"width:162.64pt\"> provides a breakdown of the values</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps19820 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:177.75pt\">of assets that service the pension plans.</span></div></div><div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:287.25pt\"></td><td style=\"padding:0;width:104.25pt\"></td><td style=\"padding:0;width:104.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14913 ss981\"><div><div class=\"ps485 ss980\"><span class=\"f charStyle-183bdf94 ps26742\">at 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14918 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-183bdf94 ps26743\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26744 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-183bdf94 ps26743\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1975\"><div><div class=\"ps476 ss1974\"><span class=\"f charStyle-183bdf94 ps132\">- equity investments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14922 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps23800\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26745 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps23800\">3.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1976\"><div><div class=\"ps22869 ss1974\"><span class=\"f charStyle-183bdf94 ps132\">- insurance policies<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14925 ss1977\"><div><div class=\"ps22869 ss1014\"><span class=\"f charStyle-183bdf94 ps23800\">2.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26746 ss1977\"><div><div class=\"ps22869 ss1014\"><span class=\"f charStyle-183bdf94 ps23800\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1975\"><div><div class=\"ps476 ss1974\"><span class=\"f charStyle-ba8ac8da ps132\">Fair value of plan assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24448 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-ba8ac8da ps23800\">5.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26747 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-ba8ac8da ps23800\">5.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26749 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:463.29pt\">Obligations related to the plans indicated above are calculated on the basis of the following assumptions.</span></div><div class=\"ps26787 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:110.25pt\"></td><td style=\"padding:0;width:70.5pt\"></td><td style=\"padding:0;width:70.5pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:60.75pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1369\"><div><div class=\"ps485 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">31 December<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26751 ss1979\"><div><div class=\"ps485 ss1978\"><span class=\"f charStyle-183bdf94 ps26750\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25542 ss1979\"><div><div class=\"ps485 ss1978\"><span class=\"f charStyle-183bdf94 ps26750\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21078 ss941\"><div><div class=\"ps485 ss409\"><span class=\"f charStyle-183bdf94 ps12315\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26753 ss225\"><div><div class=\"ps485 ss210\"><span class=\"f charStyle-183bdf94 ps26752\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11338 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23894\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps17054 ss1400\"><div><div class=\"ps485 ss304\"><span class=\"f charStyle-183bdf94 ps23894\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24494 ss391\"><div><div class=\"ps476 ss390\"><span class=\"f charStyle-183bdf94 ps26754\">unfunded pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12108 ss322\"><div><div class=\"ps476 ss299\"><span class=\"f charStyle-183bdf94 ps26755\">funded pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5480 ss400\"><div><div class=\"ps476 ss389\"><span class=\"f charStyle-183bdf94 ps26756\">other plans<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Discount rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26757 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94 ps9114\">2,98%-4,10%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26758 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-40131897 ps9114\">3.00%-3.40%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26760 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94 ps26759\">1,10%-3,63%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26761 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps20117\">1.05%-1.90%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4120 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26762\"></span><span class=\"ps26762\">6.50%</span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26763 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94 ps23072\">8.50%-9.00%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Future salary increases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps24502 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94 ps9114\">2,00%-2,50%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26764 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-40131897 ps9114\">2.00%-3.42%</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26765 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94 ps26759\">0,00%-2,40%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26766 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps20117\">1.40%-2.40%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps4137 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:47.32pt\"></span></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23939 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:47.32pt\"></span></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Future pension increases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26768 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:62.46pt\"></span></span><span class=\"ps24954\">-<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26769 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:62.46pt\"></span></span><span class=\"ps24954\">-<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26770 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94 ps26759\">1,25%-2,00%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26771 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94 ps20117\">1.05%-2.00%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps4150 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:47.32pt\"></span></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23944 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:47.32pt\"></span></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1980\"><div><div class=\"ps473 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Growth rate of healthcare costs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps24507 ss1981\"><div><div class=\"ps473 ss1978\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:62.46pt\"></span></span><span class=\"ps24954\">-<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26772 ss1981\"><div><div class=\"ps473 ss1978\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:62.46pt\"></span></span><span class=\"ps24954\">-<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26774 ss410\"><div><div class=\"ps473 ss409\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:53.32pt\"></span></span><span class=\"ps26773\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26776 ss226\"><div><div class=\"ps473 ss210\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:48.82pt\"></span></span><span class=\"ps26775\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps4161 ss1402\"><div><div class=\"ps473 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26762\"></span><span class=\"ps26762\">5.50%</span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23953 ss1402\"><div><div class=\"ps473 ss304\"><span class=\"f charStyle-183bdf94 ps23072\">7.50%-8.00%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Expected return on assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26777 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:62.46pt\"></span></span><span class=\"ps24954\">-<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25560 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:62.46pt\"></span></span><span class=\"ps24954\">-<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22973 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26773\"></span><span class=\"ps26773\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26778 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:48.82pt\"></span></span><span class=\"ps26775\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps12197 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26767\"></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26779 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26767\"></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Staff turnover rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26780 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94 ps6738\">0,00%-39,00%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25563 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-40131897 ps6738\">0.00%-37.00%</span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps22975 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26773\"></span><span class=\"ps26773\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26781 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26775\"></span><span class=\"ps26775\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps5544 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26767\"></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps5546 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26767\"></span><span class=\"ps26767\">-<span style=\"display:inline-block;height:5.09pt;width:6.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1369\"><div><div class=\"ps476 ss1368\"><span class=\"f charStyle-183bdf94 ps132\">Forecast inflation rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26782 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-183bdf94 ps9114\">2,00%-2,00%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26783 ss1979\"><div><div class=\"ps476 ss1978\"><span class=\"f charStyle-40131897 ps9114\">2.00%-2.50%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps22977 ss941\"><div><div class=\"ps476 ss409\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26784\"></span><span class=\"ps26784\">1.00%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25243 ss225\"><div><div class=\"ps476 ss210\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26785\"></span><span class=\"ps26785\">1.00%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25006 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26762\"></span><span class=\"ps26762\">4.00%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26786 ss1400\"><div><div class=\"ps476 ss304\"><span class=\"f charStyle-183bdf94\"><span class=\"ps26762\"></span><span class=\"ps26762\">6.00%</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26789 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The rates relating to the costs of future medical costs are not included in the assumptions used in determining</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps4984 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:434.6pt\">the above-defined benefit obligations. Thus, any changes in these rates would not have any effect.</span><span class=\"f charStyle-58d8bcbe ps26790\" style=\"width:2.77pt\"> </span></div><div class=\"ps4992 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:313.07pt\">A quantitative sensitivity analysis of the significant assumptions used </span><span class=\"f charStyle-58d8bcbe ps26791\" style=\"width:98.46pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26792\" style=\"width:84.56pt\"> is provided below.</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps4993 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">Specifically, it shows the effect on the final net obligation arising from a positive or negative percentage change</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps4994 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:128.88pt\">in the key assumptions used.</span></div><div class=\"ps26847 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1982 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15607 ss1815\"><div><div class=\"ps476 ss1814\"><span class=\"f charStyle-183bdf94 ps26794\">unfunded pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20559 ss1815\"><div><div class=\"ps476 ss1814\"><span class=\"f charStyle-183bdf94 ps26795\">funded pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9101 ss1815\"><div><div class=\"ps476 ss1814\"><span class=\"f charStyle-183bdf94 ps26796\">other plans<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:36pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15620 ss1499\"><div><div class=\"ps2374 ss1397\"><span class=\"f charStyle-183bdf94 ps16489\">change in the <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss1397\"><span class=\"f charStyle-183bdf94 ps8004\">assumptions</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26798 ss1499\"><div><div class=\"ps2974 ss1397\"><span class=\"f charStyle-183bdf94 ps13246\">impact of <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss1397\"><span class=\"f charStyle-183bdf94 ps4034\">positive </span></div><div class=\"ps2976 ss1397\"><span class=\"f charStyle-183bdf94 ps26797\">change<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26800 ss1499\"><div><div class=\"ps2974 ss1397\"><span class=\"f charStyle-183bdf94 ps13246\">impact of <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss1397\"><span class=\"f charStyle-183bdf94 ps26799\">negative </span></div><div class=\"ps2976 ss1397\"><span class=\"f charStyle-183bdf94 ps26797\">change<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20561 ss1499\"><div><div class=\"ps2374 ss1397\"><span class=\"f charStyle-183bdf94 ps16489\">change in the <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss1397\"><span class=\"f charStyle-183bdf94 ps8004\">assumptions</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11809 ss1499\"><div><div class=\"ps2974 ss1397\"><span class=\"f charStyle-183bdf94 ps13246\">impact of <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss1397\"><span class=\"f charStyle-183bdf94 ps4034\">positive </span></div><div class=\"ps2976 ss1397\"><span class=\"f charStyle-183bdf94 ps26797\">change<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6310 ss1499\"><div><div class=\"ps2974 ss1397\"><span class=\"f charStyle-183bdf94 ps13246\">impact of <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss1397\"><span class=\"f charStyle-183bdf94 ps26799\">negative </span></div><div class=\"ps2976 ss1397\"><span class=\"f charStyle-183bdf94 ps26797\">change<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps20646 ss1499\"><div><div class=\"ps2374 ss1397\"><span class=\"f charStyle-183bdf94 ps16489\">change in the <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss1397\"><span class=\"f charStyle-183bdf94 ps8004\">assumptions</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps21296 ss1499\"><div><div class=\"ps2974 ss1397\"><span class=\"f charStyle-183bdf94 ps13246\">impact of <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss1397\"><span class=\"f charStyle-183bdf94 ps4034\">positive </span></div><div class=\"ps2976 ss1397\"><span class=\"f charStyle-183bdf94 ps26797\">change<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23609 ss1499\"><div><div class=\"ps2974 ss1397\"><span class=\"f charStyle-183bdf94 ps13246\">impact of <span class=\"f ps21\"> </span></span></div><div class=\"ps1083 ss1397\"><span class=\"f charStyle-183bdf94 ps26799\">negative </span></div><div class=\"ps2976 ss1397\"><span class=\"f charStyle-183bdf94 ps26797\">change<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1089 ss546\"><div><div class=\"ps476 ss538\"><span class=\"f charStyle-ba8ac8da ps132\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps5494 ss546\"><div><div class=\"ps476 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Discount rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26802 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps17826\">+\\- 0.25%-0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps26803 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps24792\">-1,43%/-1,87<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26805 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps26804\">1,43%/1,94%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26806 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps23865\"> +/- 0.5%/1%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps26807 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps8959\">-6,19%/-8,4%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26808 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps26804\">6,95%/9.80%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26810 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+/- 1.0%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps26811 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps22038\">-8.98%/-7,77%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps26813 ss1399\"><div><div class=\"ps26801 ss1397\"><span class=\"f charStyle-ef51c266 ps26812\">7.63/8,86%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps5738 ss543\"><div><div class=\"ps1094 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Future salary <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss538\"><span class=\"f charStyle-183bdf94 ps132\">increases</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps15644 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+\\- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26815 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps14860\"></span><span class=\"ps14860\">0.04%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26816 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps4124\"></span><span class=\"ps4124\">-0.05%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26817 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+/- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26818 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps14860\"></span><span class=\"ps14860\">1.60%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26819 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-c6dd72c8 ps4107\">-1.60%</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26821 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26822 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26823 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps4965 ss543\"><div><div class=\"ps1094 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Future pension <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss538\"><span class=\"f charStyle-183bdf94 ps132\">increases</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26824 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26826 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:38.05pt\"></span></span><span class=\"ps26825\">-<span style=\"display:inline-block;height:4.36pt;width:5.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26827 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:38.05pt\"></span></span><span class=\"ps26825\">-<span style=\"display:inline-block;height:4.36pt;width:5.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps22467 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps18466\"> +/-0.50%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26828 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps14860\"></span><span class=\"ps14860\">3.18%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps6370 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps4124\"></span><span class=\"ps4124\">-3.28%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26829 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps21856 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps23618 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps5271 ss543\"><div><div class=\"ps1094 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Forecast <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss538\"><span class=\"f charStyle-183bdf94 ps132\">inflation rate</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26831 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26830\">+\\- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26832 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps14860\"></span><span class=\"ps14860\">0.27%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26833 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps4124\"></span><span class=\"ps4124\">-0.26%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26834 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26597 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:38.05pt\"></span></span><span class=\"ps26825\">-<span style=\"display:inline-block;height:4.36pt;width:5.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26835 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:38.05pt\"></span></span><span class=\"ps26825\">-<span style=\"display:inline-block;height:4.36pt;width:5.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26836 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps21804 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26837 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps5285 ss543\"><div><div class=\"ps1094 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Staff turnover <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss538\"><span class=\"f charStyle-183bdf94 ps132\">rate</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26838 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+\\- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26839 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps14860\"></span><span class=\"ps14860\">0.90%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26840 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps4124\"></span><span class=\"ps4124\">-0.88%</span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26841 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26842 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:38.05pt\"></span></span><span class=\"ps26825\">-<span style=\"display:inline-block;height:4.36pt;width:5.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26843 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:38.05pt\"></span></span><span class=\"ps26825\">-<span style=\"display:inline-block;height:4.36pt;width:5.33pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26844 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26845 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26846 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps132\"><span style=\"display:inline-block;height:4.36pt;width:41.39pt\"></span></span><span class=\"ps26820\">-<span style=\"display:inline-block;height:4.36pt;width:1.99pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26875 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1982 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:54pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td><td style=\"padding:0;width:48.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss546\"><div><div class=\"ps476 ss538\"><span class=\"f charStyle-ba8ac8da ps132\">2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:17.25pt\"><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1983\"><div><div class=\"ps14944 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Discount rate<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps15620 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps17826\">+\\- 0.25%-0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps26798 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps22038\">-4.80%/-0.78%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26800 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps26804\">0.90%/5.20%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps20561 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+/- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps11809 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps22038\">-6.53%/-8.40%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps6310 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps26804\">7.38%/9.90%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps20646 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+/- 1.0%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps21296 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps22038\">-4.35%/-7.75%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;padding:0\"><div class=\"ps23609 ss1984\"><div><div class=\"ps20250 ss1397\"><span class=\"f charStyle-ef51c266 ps26804\">8.98%/4.35%<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps2347 ss543\"><div><div class=\"ps1094 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Future salary <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss538\"><span class=\"f charStyle-183bdf94 ps132\">increases</span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26848 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+\\- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26849 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26804\">0.47%/1.30%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26850 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps22038\">-0.44%/-1.20%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26851 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+/- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26852 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps14860\"></span><span class=\"ps14860\">1.70%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26853 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps4124\"></span><span class=\"ps4124\">-1.60%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26854 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26855 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26856 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps3332 ss543\"><div><div class=\"ps1094 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Future pension <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss538\"><span class=\"f charStyle-183bdf94 ps132\">increases</span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26857 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26858 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26859 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26860 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps6738\">+/-0.50%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26861 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps14860\"></span><span class=\"ps14860\">3.45%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26862 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266\"><span class=\"ps4124\"></span><span class=\"ps4124\">-3.28%</span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26863 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26864 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt dotted #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26865 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps11246 ss543\"><div><div class=\"ps1094 ss538\"><span class=\"f charStyle-183bdf94 ps132\">Staff turnover <span class=\"f ps21\"> </span></span></div><div class=\"ps473 ss538\"><span class=\"f charStyle-183bdf94 ps132\">rate</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26866 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26809\">+\\- 0.5%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26867 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps26804\">0.05%/0.50%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26868 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps22038\">-0.05%/-0.50%<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26869 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26870 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26871 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26872 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26873 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt dotted #000000;padding:0\"><div class=\"ps26874 ss1398\"><div><div class=\"ps26814 ss1397\"><span class=\"f charStyle-ef51c266 ps4329\">0.00<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps10283 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">The sensitivity analysis shown above is based on a method involving the extrapolation of the impact on the net</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps10284 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">obligation for defined benefit plans of reasonable changes to the key assumptions made at the end of the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps10285 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">financial year. The methodology and the assumptions made in preparing the sensitivity analysis remain</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps10286 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:153.9pt\">unchanged from the previous year.</span></div><div class=\"ps10287 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">Given that pension liabilities have been adjusted based on the consumer price index, the pension plan is</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps10288 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">exposed to the various countries\u2019 inflation rates, to interest rate risks, and to changes in the future salary and</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps10289 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">pension increases. Given that the assets servicing the plans mainly relate to investments in bonds, the Group is</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps10290 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">also exposed to market risk in the related sectors. Overall, considering the contained exposure to funded</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps10291 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">pension plans leveraging on plan assets, the financial volatility of markets is not generating material disruption</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps10292 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:52pt\">or criticality.</span><span class=\"f charStyle-58d8bcbe ps26876\" style=\"width:2.77pt\"> </span></div><div class=\"ps10295 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">The following payments are the expected contributions made in future years to provide for the obligations of the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps10296 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:95pt\">defined benefit plans.</span><span class=\"f charStyle-58d8bcbe ps26877\" style=\"width:2.77pt\"> </span></div></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:195.75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1878\"><div><div class=\"ps979 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23897 ss376\"><div><div class=\"ps979 ss281\"><span class=\"f charStyle-183bdf94 ps26878\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8551 ss376\"><div><div class=\"ps2776 ss281\"><span class=\"f charStyle-183bdf94 ps11957\">unfunded pension <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss281\"><span class=\"f charStyle-183bdf94 ps26879\">plans</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7280 ss376\"><div><div class=\"ps979 ss281\"><span class=\"f charStyle-183bdf94 ps26880\">funded pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps8442 ss376\"><div><div class=\"ps979 ss281\"><span class=\"f charStyle-183bdf94 ps26881\">other plans<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Within 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26882 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8446\">13.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8559 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8446\">12.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps480 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26883 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">From 2 to 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26884 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">5.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26885 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">3.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps486 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">2.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26886 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps490 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-40131897 ps132\">More than 5 years</span><span class=\"f charStyle-85922b7e ps26887\"><sup> (1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26888 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">8.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26889 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">3.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps495 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26890 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">1.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps498 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26891 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8446\">27.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26892 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8446\">19.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps503 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8450\">5.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26893 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8450\">1.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps505 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">Average plan duration (years)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26895 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">12<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26896 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">12<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps508 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">13<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26897 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">14<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3136 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:278.71pt\">Italian and Swiss companies have expected future contributions calculated up to 10 years.</span><span class=\"f charStyle-40131897 ps107\" style=\"width:1.94pt\"> </span></div><div class=\"ps26899 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:195.75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1878\"><div><div class=\"ps979 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23897 ss376\"><div><div class=\"ps979 ss281\"><span class=\"f charStyle-183bdf94 ps26878\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8551 ss376\"><div><div class=\"ps2776 ss281\"><span class=\"f charStyle-183bdf94 ps11957\">unfunded pension <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss281\"><span class=\"f charStyle-183bdf94 ps26879\">plans</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7280 ss376\"><div><div class=\"ps979 ss281\"><span class=\"f charStyle-183bdf94 ps26880\">funded pension plans<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8442 ss376\"><div><div class=\"ps979 ss281\"><span class=\"f charStyle-183bdf94 ps26881\">other plans<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">Within 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26882 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8446\">14.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8559 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8446\">13.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps480 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26883 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">From 2 to 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26884 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">5.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26885 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps486 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">2.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26886 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-183bdf94 ps132\">More than 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26888 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">9.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps26889 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">4.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps495 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">3.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26890 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-183bdf94 ps8450\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26891 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8446\">29.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26892 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8446\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps503 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8450\">5.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26893 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps8450\">2.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1877\"><div><div class=\"ps476 ss1875\"><span class=\"f charStyle-ba8ac8da ps132\">Average plan duration (years)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26895 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">13<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26896 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">13<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps508 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">13<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26897 ss502\"><div><div class=\"ps476 ss281\"><span class=\"f charStyle-ba8ac8da ps26894\">15<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:278.71pt\">Italian and Swiss companies have expected future contributions calculated up to 10 years.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-568": {
   "value": "<div class=\"ps25977 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">i.\u00a0  Provisions for Risks, Charges and Contingent Assets and Liabilities<span id=\"ia9081d352c7d4bd0a5d90f2f36c22ab9\"></span></span></div><div class=\"ps3959 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps3960 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Provisions arising from legal or constructive obligations resulting from past events are reliably estimated and</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps3961 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">reviewed periodically to reflect changes in circumstances, timescales and discount rates. Revisions to estimates</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3962 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">of provisions are booked to the same statement of profit or loss item that contains the accrual, or, if the liability</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1935 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">relates to tangible assets (i.e., dismantling and restoration), these revisions are reported as an offsetting entry to</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps3963 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">the related asset. Where the financial impact of the timing is significant and the payment dates of the obligations</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">can be reliably estimated, the provision is discounted to present value. The related amount over time is</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps17511 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">allocated to the statement of profit or loss. When the Group expects that all or part of the provisions will be</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25980 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">repaid by third parties, a receivable is recorded under assets only if it is virtually certain and the accrual and</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps25981 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:276.03pt\">related repayment are posted to the statement of profit or loss.</span></div><div class=\"ps1580 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">Dedicated restructuring provisions are only reported if there is a restructuring obligation deriving from a formal</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17017 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">detailed restructuring program, which has led to a reasonable expectation by interested parties that the</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25982 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.11pt\">restructuring will be carried out with an outflow of resources whose amount can be reliably estimated, either</span><span class=\"f charStyle-2293a859 ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1540 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.2pt\">because the process has already started or because the main features of the restructuring program have</span><span class=\"f charStyle-2293a859 ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1541 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:128.35pt\">already been communicated.</span></div><div class=\"ps1542 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:453.23pt\">For detailed information on the accounting policy related to tax provisions, refer to note 3 xiii-\u2018Taxation\u2019.</span><span class=\"f charStyle-2293a859 ps25983\" style=\"width:8.31pt\">\u00a0  </span></div><div class=\"ps1543 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">The Group may be involved in legal proceedings, in respect of which it is not possible to make a reliable</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1544 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">estimate of any expected settlement. Such cases are reported as contingent liabilities with a specific disclosure</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps17156 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:180.55pt\">made available for information purposes.</span><span class=\"f charStyle-2293a859 ps25984\" style=\"width:2.77pt\"> </span></div><div class=\"ps25985 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The Group discloses purely contingent assets and provides information when there are material amounts that</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps25986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">are highly likely to be realised. The Group records the relevant asset only when the original uncertainty relating</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps25988 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:332.68pt\">to it no longer applies and it is virtually certain that the asset will be realised</span><span class=\"f charStyle-2293a859 ps25987\" style=\"width:2.77pt\">.</span></div><div class=\"ps25990 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps17029 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:106.08pt\">Provision for risks and c</span><span class=\"f charStyle-ca5f4806 ps4932\" style=\"width:30.57pt\">harges<span class=\"f ps21\"> </span></span></div><div class=\"ps26035 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:207pt\"></td><td style=\"padding:0;width:72pt\"></td><td style=\"padding:0;width:72pt\"></td><td style=\"padding:0;width:72pt\"></td><td style=\"padding:0;width:72pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4586 ss1434\"><div><div class=\"ps979 ss199\"><span class=\"f charStyle-183bdf94 ps25992\">tax provision<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10809 ss1434\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-40131897 ps25993\">restructuring </span></div><div class=\"ps2777 ss199\"><span class=\"f charStyle-40131897 ps25994\">provisions</span><span class=\"f charStyle-85922b7e ps25995\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25997 ss1434\"><div><div class=\"ps979 ss199\"><span class=\"f charStyle-183bdf94 ps25996\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps25999 ss1434\"><div><div class=\"ps979 ss199\"><span class=\"f charStyle-183bdf94 ps25998\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4595 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12798 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26001 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26002 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4607 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26003\">8.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12804 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">76.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26005 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">34.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26007 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26006\">118.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-183bdf94 ps132\">Accruals<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4617 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12807 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">4.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26009 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">7.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26010 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26004\">12.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-183bdf94 ps132\">Utilisations<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25734 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12810 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26011\">(42.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26013 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(5.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26014 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26011\">(47.5)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-183bdf94 ps132\">Releases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps25739 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12813 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps2656\">(11.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26015 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(6.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26016 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26011\">(18.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps25743 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12816 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26017 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(1.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26018 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4628 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4632 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26003\">7.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26019 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">25.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26020 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">28.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26021 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">61.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss1911\"><div><div class=\"ps13402 ss262\"><span class=\"f charStyle-183bdf94 ps132\">of which:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26022 ss1912\"><div><div class=\"ps13402 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26023 ss1912\"><div><div class=\"ps13402 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26024 ss1912\"><div><div class=\"ps13402 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26025 ss1912\"><div><div class=\"ps13402 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps26026 ss1580\"><div><div class=\"ps2776 ss262\"><span class=\"f charStyle-d669f8f1 ps132\">- due within 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26027 ss200\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-d669f8f1 ps26003\">6.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26028 ss200\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-d669f8f1 ps26004\">21.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26029 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">9.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26030 ss200\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-d669f8f1 ps26004\">37.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps8335 ss1580\"><div><div class=\"ps2776 ss262\"><span class=\"f charStyle-d669f8f1 ps132\">- due after 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26031 ss200\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-d669f8f1 ps26003\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26032 ss200\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-d669f8f1 ps26003\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26033 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26004\">19.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26034 ss200\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-d669f8f1 ps26004\">23.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26036 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:5.55pt\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\" style=\"width:490.53pt\"> The restructuring provision recorded a movement during the year, reflecting the release of the portion of the provision originally recognised for the</span><span class=\"f charStyle-40131897 ps123\" style=\"width:1.94pt\"> </span></div><div class=\"ps26037 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:496.08pt\">restructuring programme. The release relates to personnel who subsequently left the Group but were not initially included in the restructuring plan, with the</span><span class=\"f charStyle-40131897 ps123\" style=\"width:1.94pt\"> </span></div><div class=\"ps26038 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:340.93pt\">amounts corresponding to payments that were, in any case, executed in respect of such departing employees.</span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:207.75pt\"></td><td style=\"padding:0;width:72pt\"></td><td style=\"padding:0;width:72pt\"></td><td style=\"padding:0;width:72pt\"></td><td style=\"padding:0;width:72pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26039 ss1434\"><div><div class=\"ps979 ss199\"><span class=\"f charStyle-183bdf94 ps25992\">tax provision<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12383 ss1434\"><div><div class=\"ps2776 ss199\"><span class=\"f charStyle-183bdf94 ps25993\">restructuring <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss199\"><span class=\"f charStyle-183bdf94 ps26040\">provisions</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26041 ss1434\"><div><div class=\"ps979 ss199\"><span class=\"f charStyle-183bdf94 ps25996\">other<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7940 ss1434\"><div><div class=\"ps979 ss199\"><span class=\"f charStyle-183bdf94 ps25998\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26042 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26043 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26044 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26045 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26000\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26046 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26003\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12394 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26003\">6.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps24701 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">29.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26047 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">41.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps490 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">Perimeter effect for acquisition<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26048 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">3.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12401 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26049 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26050 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">3.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">Accruals<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26051 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12405 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26006\">102.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26052 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26004\">14.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26054 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26053\">116.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps505 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">Utilisations<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26055 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12410 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26011\">(30.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26056 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps2656\">(11.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26057 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26011\">(42.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1043 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">Releases<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26058 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12414 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(2.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26059 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps8001 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(5.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4628 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">Reclassification<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26060 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12419 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26061 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26062 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6894 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">Exchange rate differences and other changes<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26063 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26064 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26065 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(2.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26066 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26012\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5271 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26067 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26003\">8.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26068 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">76.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26069 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26004\">34.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26070 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-ba8ac8da ps26006\">118.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6904 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">Of which:<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26071 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26072 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26073 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26074 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26008\">-<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4642 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">- due within 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26075 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">7.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26076 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26004\">70.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26078 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26077\">11.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26079 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26004\">88.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4652 ss933\"><div><div class=\"ps476 ss932\"><span class=\"f charStyle-183bdf94 ps132\">- due after 12 months<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26080 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">0.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26081 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26003\">6.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26082 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26004\">22.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26083 ss200\"><div><div class=\"ps476 ss199\"><span class=\"f charStyle-183bdf94 ps26004\">29.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26087 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:399.13pt\">On 29 October 2024 a restructuring program was launched, reflecting a balance of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26085\" style=\"width:19.45pt\">25.1</span><span class=\"f charStyle-58d8bcbe ps26086\" style=\"width:77.54pt\"> million as of 31<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26088 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">December 2025. This initiative is among several strategic measures aimed at enhancing performance,</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps26089 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">alongside efforts to drive growth, improve profitability, streamline processes and contain costs. At 31 December</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps26092 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:346.65pt\">2025, payments related to employee severance under the plan amounted to \u20ac</span><span class=\"f charStyle-58d8bcbe ps26090\" style=\"width:19.45pt\">54.4</span><span class=\"f charStyle-58d8bcbe ps26091\" style=\"width:130.08pt\"> million (total cash outflow for</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps26095 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:140.61pt\">employee termination of \u20ac62.9 </span><span class=\"f charStyle-58d8bcbe ps26093\" style=\"width:28.33pt\">million</span><span class=\"f charStyle-58d8bcbe ps9764\" style=\"width:9.54pt\">). </span><span class=\"f charStyle-58d8bcbe ps26094\" style=\"width:317.61pt\">The program yielded incremental benefits in the latter part of the year,</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps26096 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">with the majority of the planned cost containment initiatives already underway. The program remains on track to</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps26097 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">deliver a cumulative 200 basis point improvement in the selling, general and administrative expenses-to-sales</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps26099 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:422.36pt\">ratio over the period 2025 to 2027, of which 70 basis points were already achieved in 2025. </span><span class=\"f charStyle-58d8bcbe ps26098\" style=\"width:73.76pt\">Other provisions</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps26100 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">involved recognition by the Company and subsidiaries of liabilities for various lawsuits, including a Brazilian</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps26101 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">legal dispute totalling \u20ac9.8 million over a distribution agreement, provision for onerous contract in China (\u20ac4.1</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps26102 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">million) and a number of customer and supplier legal claims in France and Mexico totalling \u20ac5.9 million.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps12210 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:394.7pt\">Moreover, the other provisions for risks and charges were utilised for a total amount of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26103\" style=\"width:13.89pt\">5.0</span><span class=\"f charStyle-58d8bcbe ps26104\" style=\"width:87.6pt\"> million to offset the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26105 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">cost deriving from the settlement of legal cases, primarily in Italy, the United States and New Zealand.</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26108 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:93.53pt\">Provisions totalling \u20ac</span><span class=\"f charStyle-58d8bcbe ps26106\" style=\"width:13.89pt\">6.4</span><span class=\"f charStyle-58d8bcbe ps26107\" style=\"width:388.81pt\"> million were released, primarily in relation to a dispute in the United States that is no</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26109 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:474.17pt\">longer outstanding. Significant effect of the passage of time over provisions was deemed to be not material.</span></div><div class=\"ps26111 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:81.1pt\">Contingent liability</span></div><div class=\"ps26112 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">The information reported below concerns contingent liabilities arising from outstanding disputes, for which the</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26114 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:323.83pt\">provision recognition criteria have not been met on the date of this report.</span><span class=\"f charStyle-58d8bcbe ps26113\" style=\"width:2.77pt\"> </span></div><div class=\"ps26115 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">After having finally resolved the outstanding dispute related to ICMS (tax on the consumption of goods and<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26116 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">services), the following dispute is still outstanding with the Brazilian tax authorities; however, the Group believes</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps26117 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">it is unlikely to lose the case, based on the information available at the date of this report. On the date of this</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps26120 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:419.14pt\">report, a dispute amounting to BRL6.6 million (\u20ac1.0 million at the exchange rate on 31 </span><span class=\"f charStyle-58d8bcbe ps26118\" style=\"width:46.12pt\">December</span><span class=\"f charStyle-58d8bcbe ps26119\" style=\"width:30.88pt\"> 2025)</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps10271 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">including the related penalties (excluding interests) corresponding to production tax (IPI) remains ongoing. The<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps10272 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">tax authorities contested the correct classification of products sold by Campari do Brasil Ltda.. Based on the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps10273 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">assessments conducted by external legal consultants, the Group believes that the outcome of the dispute will be</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps10274 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:451.95pt\">in favour of the Company. It is therefore deemed unnecessary at present to create a specific provision.</span></div><div class=\"ps10277 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:80pt\">Contingent assets</span></div><div class=\"ps10278 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">In 2021, the Brazilian Supreme Court issued a final ruling on the fiscal dispute concerning the exclusion of</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps26121 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">certain PIS/COFINS taxes from the ICMS calculation base, affirming the Group\u2019s right to offset amounts paid</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps26122 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">since 2002. The related impacts were duly reflected in the Group\u2019s financial statements. In 2024, the Brazilian</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps5912 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">Federal Revenue introduced new regulations governing the calculation of credits arising from the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps26123 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">aforementioned exclusion of PIS and COFINS from the ICMS tax base resulting in additional credits totalling</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26124 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">BRL 14.4 million (\u20ac2.2 million as of 31 December 2025). As of 31 December 2025, in the absence of a definitive<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps11365 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">ruling from the relevant Brazilian authorities in favour of the Group, this position has been classified as</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps26125 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:196.06pt\">contingent until it is deemed virtually certain.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-574": {
   "value": "<div class=\"ps26126 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">ii.\u00a0  Commitments and Risks<span id=\"ibc2397973d78493993013f4c55e0c2b3\"></span></span></div><div class=\"ps26128 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps24677 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">Guarantees are disclosed at fair value determined based on the present value of the difference in cash flows</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps26129 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">between the contractual payments required under the debt instrument and the payments that would be required</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps26130 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">without the guarantee, or the estimated amount that would be payable to a third party for assuming the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26131 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:50.56pt\">obligations.</span></div><div class=\"ps26133 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:404.94pt\">For the accounting policy on financial guarantees, please refer to note 6-\u2018Net financial debt\u2019.</span><span class=\"f charStyle-2293a859 ps26132\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure<span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">The main commitments and risks of the Campari Group on the reporting date are divided into the following<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:48.89pt\">categories:</span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-ca5f4806 ps1256\" style=\"width:268.08pt\">Contractual commitments to purchase goods or services</span><span class=\"f charStyle-58d8bcbe ps26134\" style=\"width:213.96pt\"> totalled \u20ac580.1 million (\u20ac566.0 million at 31</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.97pt\">December 2024). These mainly included commitments for the purchase of packaging and pallets, amounting</span><span class=\"f charStyle-58d8bcbe ps1259\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.04pt\">to \u20ac 228.5 million (\u20ac195.7 million at 31 December 2024); the purchase of raw materials, semi-finished goods</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.98pt\">totalling \u20ac263.8 million (\u20ac260.1 million at 31 December 2024); initiatives to enhance and outsource selected</span><span class=\"f charStyle-58d8bcbe ps1279\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.95pt\">Group information technology services totalling \u20ac22.4 million (\u20ac21.6 million in 2024); the purchase of<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.04pt\">advertising and promotional services and sponsorships totalling \u20ac20.2 million (\u20ac20.3 million at 31 December</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:412.14pt\">2024); as well as for advisory services for \u20ac 22.2 million (\u20ac34.3 million at 31 December 2024).</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-ca5f4806 ps1256\" style=\"width:443.14pt\">Contractual commitments for purchasing of property, plant and equipment, and intangible assets</span><span class=\"f charStyle-58d8bcbe ps26135\" style=\"width:38.88pt\"> totalling</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:5.56pt\">\u20ac<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps7210\" style=\"width:11.12pt\">37</span><span class=\"f charStyle-58d8bcbe ps26136\" style=\"width:8.33pt\">.2</span><span class=\"f charStyle-58d8bcbe ps7211\" style=\"width:456.92pt\"> million (\u20ac18.3 million at 31 December 2024). The increase compared to 2024 mainly relates to tangible</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:31.66pt\">assets.</span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-ca5f4806 ps1256\" style=\"width:92.79pt\">Financial guarantees</span><span class=\"f charStyle-58d8bcbe ps26137\" style=\"width:389.21pt\">. Following the disposal of Tannico by the Dioniso Group, no further financial guarantees</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:86.13pt\">have been granted.</span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-ca5f4806 ps1256\" style=\"width:80.91pt\">Other guarantees.</span><span class=\"f charStyle-58d8bcbe ps26138\" style=\"width:401.02pt\"> The Group has provided other forms of security in favour of third parties, totalling \u20ac 757.6</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.95pt\">million at 31 December 2025 (\u20ac677.0 million at 31 December 2024). These mainly include securities to</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482pt\">Group companies for credit lines totalling \u20ac692.3 million (\u20ac602.4 million at 31 December 2024) and customs</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:391.06pt\">guarantees for excise duties totalling \u20ac 65.3 million (\u20ac61.6 million at 31 December 2024).</span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-ca5f4806 ps1256\" style=\"width:436.58pt\">Contractual commitments for the use of third-party assets not recognised using lease accounting.</span><span class=\"f charStyle-58d8bcbe ps26139\" style=\"width:45.45pt\"> The table</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps1353 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.93pt\">below breaks down the amounts owed by the Group in future periods by maturity, relating to the main</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482pt\">contractual commitments for the use of third-party assets. At 31 December 2025 they mainly related to</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">warehouses for storing goods and maturing stock as well as information technology, buildings and vehicles.</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.59pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.99pt\">The decrease compared to 2024 is primarily attributable to lower expenses for warehouse space for storing</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">stocks and maturing inventories, which were recognised as lease contracts, and a reduction in information</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1405 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:130.56pt\">technology and vehicle costs.</span></div><div class=\"ps12357 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:255.75pt\"></td><td style=\"padding:0;width:120pt\"></td><td style=\"padding:0;width:120pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26140 ss807\"><div><div class=\"ps476 ss806\"><span class=\"f charStyle-183bdf94 ps16160\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps15309 ss807\"><div><div class=\"ps476 ss806\"><span class=\"f charStyle-183bdf94 ps16160\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26142 ss1915\"><div><div class=\"ps22869 ss806\"><span class=\"f charStyle-183bdf94 ps26141\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps15313 ss1915\"><div><div class=\"ps22869 ss806\"><span class=\"f charStyle-183bdf94 ps26141\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1916\"><div><div class=\"ps476 ss1913\"><span class=\"f charStyle-183bdf94 ps132\">Within 1 year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26143 ss807\"><div><div class=\"ps476 ss806\"><span class=\"f charStyle-183bdf94 ps18960\">19.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26144 ss807\"><div><div class=\"ps476 ss806\"><span class=\"f charStyle-183bdf94 ps18960\">17.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"padding:0\"><div class=\"ps490 ss1917\"><div><div class=\"ps22869 ss1913\"><span class=\"f charStyle-183bdf94 ps132\">1-5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26145 ss1915\"><div><div class=\"ps22869 ss806\"><span class=\"f charStyle-183bdf94 ps18960\">32.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26146 ss1915\"><div><div class=\"ps22869 ss806\"><span class=\"f charStyle-183bdf94 ps18960\">44.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7311 ss1917\"><div><div class=\"ps22869 ss1913\"><span class=\"f charStyle-183bdf94 ps132\">After 5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26147 ss1915\"><div><div class=\"ps22869 ss806\"><span class=\"f charStyle-183bdf94 ps18960\">25.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26148 ss1915\"><div><div class=\"ps22869 ss806\"><span class=\"f charStyle-183bdf94 ps18960\">24.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13077 ss1916\"><div><div class=\"ps476 ss1913\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26149 ss807\"><div><div class=\"ps476 ss806\"><span class=\"f charStyle-ba8ac8da ps18960\">77.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26150 ss807\"><div><div class=\"ps476 ss806\"><span class=\"f charStyle-ba8ac8da ps18960\">86.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-576": {
   "value": "<div class=\"ps26151 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Fair Value Information on Assets and Liabilities<span id=\"if2edeecf2a55458e960be05d8323a9a7\"></span></span></div><div class=\"ps24485 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps24487 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:188.86pt\">Fair value on financial assets and liabilities</span></div><div class=\"ps24488 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:408.78pt\">For fair value information on financial assets and liabilities, please refer to note 6 i-\u2018Financial </span><span class=\"f charStyle-6e73145d ps26152\" style=\"width:56.65pt\">instruments\u2019.</span><span class=\"f charStyle-6e73145d ps1927\" style=\"width:2.77pt\"> </span></div><div class=\"ps26153 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:133.88pt\">Fair value on biological assets<span class=\"f ps21\"> </span></span></div><div class=\"ps26154 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group\u2019s biological assets include grapes for champagne production, sugar cane plantations for rum</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26155 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">production and agave for tequila/mezcal production, which are used as raw materials for the production of those</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps26156 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:28.87pt\">spirits.</span><span class=\"f charStyle-2293a859 ps6790\" style=\"width:2.77pt\"> </span></div><div class=\"ps26157 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">Grapevines remain classified as fixed biological assets valued at cost, net of accumulated depreciation and</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps17581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">accumulated impairment losses. Immature vines are stated at accumulated cost. Capitalisation of costs ceases<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26158 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">when the vines reach maturity. Depreciation commences when the grapevines are considered mature, which is</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26159 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">when they produce their first commercially viable crop. Grapes growing on the plant are immediately classified</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26160 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">as biological inventory since agricultural output covers a one-year period and the harvest is expected to occur in</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps26161 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">the second half of the year. Taking into account the biological and vegetative cycle, all the costs incurred in</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps15429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">anticipation of the future harvest (services, products and other ancillary costs) are considered as inventory in</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15430 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">current biological assets at the reporting date, at a value that is in line with the fair value of the growing grapes<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15431 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:249.43pt\">based on available information on commodities markets.</span></div><div class=\"ps15433 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">Sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps12184 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">depreciation and accumulated impairment losses up to the harvest, which occurs from February to June. At</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps12185 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">harvest time, the agricultural output that covers a one-year period is classified as an inventory item at a value</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps12186 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">estimated based on the costs of infrastructure, land preparation and sugar cane cultivation, with reference to an</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">active market for comparable plantations and similar output in terms of age and qualitative characteristics, if<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:42.23pt\">available.</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Agave plantations remain classified as fixed biological assets valued at cost, net of accumulated depreciation</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">and accumulated impairment losses. The vegetative cycle for the ripening of the agave fruit is approximately six</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">years. During this period, the agave plants have not yet matured to be used for distillation purposes but can</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">theoretically be sold as medium-aged plants. Agave cannot be distinguished from planting and can only be</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:81.93pt\">harvested once. T</span><span class=\"f charStyle-2293a859 ps26162\" style=\"width:414.26pt\">he value of the growing product is represented as biological inventory and the reported fair</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">value is estimated on the basis of the costs of infrastructure, soil preparation and agave cultivation, in the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">absence of an active reference market for comparable plantations and similar productions in terms of age and</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.42pt\">qualitative characteristics.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The following biological assets are not measured at fair value, and consequently are not represented in this</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:82.22pt\">disclosure section:</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">grapevines and agave plantations which remain classified as fixed biological assets valued at cost, net of</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:278.9pt\">accumulated depreciation and accumulated impairment losses,</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:332.21pt\">depreciation and accumulated impairment losses, up to the annual harvest.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Fair value measurement of current biological assets in inventory (agricultural produce: agave, grapes and sugar)</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">is determined based on the sale price net of estimated sales costs, if available, or having as the main reference</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">the total production costs in case the agricultural product is so peculiar that there is an absence of any active</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps1352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:486.02pt\">reference market for comparable plantations and similar output in terms of age and qualitative characteristics. </span><span class=\"f charStyle-2293a859 ps26163\" style=\"width:2.77pt\"> </span></div><div class=\"ps1401 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps1402 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">A summary of the financial and non-financial assets and liabilities measured at fair value is shown in the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps1403 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">following table. As complementary information, the fair value of the financial items measured at amortised cost<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1404 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:211.68pt\">based on the applicable business model is also </span><span class=\"f charStyle-58d8bcbe ps26164\" style=\"width:37.24pt\">included</span><span class=\"f charStyle-58d8bcbe ps26165\" style=\"width:2.77pt\">.</span></div><div class=\"ps23930 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:306pt\"></td><td style=\"padding:0;width:94.5pt\"></td><td style=\"padding:0;width:94.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26167 ss1469\"><div><div class=\"ps485 ss1468\"><span class=\"f charStyle-183bdf94 ps26166\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26168 ss1469\"><div><div class=\"ps485 ss1468\"><span class=\"f charStyle-183bdf94 ps26166\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18190 ss1469\"><div><div class=\"ps485 ss1468\"><span class=\"f charStyle-183bdf94 ps26169\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26170 ss1469\"><div><div class=\"ps485 ss1468\"><span class=\"f charStyle-183bdf94 ps26169\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1919\"><div><div class=\"ps476 ss1918\"><span class=\"f charStyle-ba8ac8da ps132\">A) Items reported at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26172 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-ba8ac8da ps26171\">24.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26173 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-ba8ac8da ps26171\">50.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1919\"><div><div class=\"ps485 ss1918\"><span class=\"f charStyle-c70bfe2f ps26174\">of which assets<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26175 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-c70bfe2f ps26171\">64.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26177 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-c70bfe2f ps26176\">114.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26179 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26180 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Current assets for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26181 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26182 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Non-current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26183 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26184 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">2.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Other non-current assets (non-financial item)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26185 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26171\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26186 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26171\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Biological asset inventory (non-financial item)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26187 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26171\">34.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26188 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26171\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6293 ss1919\"><div><div class=\"ps485 ss1918\"><span class=\"f charStyle-c70bfe2f ps26189\">of which liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26190 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-c70bfe2f ps26171\">88.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26191 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-c70bfe2f ps26176\">172.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps6297 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26192 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26193 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps6300 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Non-current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26194 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26195 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Current liabilities for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26196 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26197 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26178\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9630 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Liabilities for put option and earn-out payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26198 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26171\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26199 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">164.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:20.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps3137 ss1920\"><div><div class=\"ps2776 ss1918\"><span class=\"f charStyle-ba8ac8da ps132\">B) Financial liabilities reported at amortised cost method but for which fair value <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1918\"><span class=\"f charStyle-ba8ac8da ps132\">information is provided</span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26200 ss1592\"><div><div class=\"ps473 ss1468\"><span class=\"f charStyle-ba8ac8da ps22486\">2,524.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26201 ss1592\"><div><div class=\"ps473 ss1468\"><span class=\"f charStyle-ba8ac8da ps22486\">2,794.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps10236 ss1919\"><div><div class=\"ps485 ss1918\"><span class=\"f charStyle-c70bfe2f ps26189\">of which liabilities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26202 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-c70bfe2f ps22486\">2,524.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26203 ss1469\"><div><div class=\"ps476 ss1468\"><span class=\"f charStyle-c70bfe2f ps22486\">2,794.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14618 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26204 ss1469\"><div><div class=\"ps2776 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">920.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26205 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps22486\">1,215.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4674 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Bonds issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26206 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">533.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26207 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">517.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps14639 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Bonds issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26208 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">315.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26209 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">319.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps14238 ss1919\"><div><div class=\"ps6279 ss1918\"><span class=\"f charStyle-d669f8f1 ps132\">Bonds issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26210 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">754.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26211 ss1469\"><div><div class=\"ps6279 ss1468\"><span class=\"f charStyle-d669f8f1 ps26176\">742.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8897 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">There were no changes in the Group\u2019s valuation processes, techniques, and types of inputs used in the fair</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps26213 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">value measurements during the period regarding the fair value of a) financial and b) non-financial instruments.</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.59pt\"> </span></div><div class=\"ps26216 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:148.83pt\">The valuation date for all items is </span><span class=\"f charStyle-58d8bcbe ps26214\" style=\"width:85.02pt\">31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps26215\" style=\"width:2.77pt\">.</span></div><div class=\"ps26217 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:103.25pt\">Financial Instruments</span></div><div class=\"ps26218 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">An analysis of financial instruments measured at fair value based on three different valuation levels is provided</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps26223 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:411.42pt\">in the following table. There were no transfers between fair value measurement levels during </span><span class=\"f charStyle-bdf8be45 ps26219\" style=\"width:36.11pt\"><span style=\"background-color:inherit\">the year</span></span><span class=\"f charStyle-bdf8be45 ps26220\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span><span class=\"f charStyle-58d8bcbe ps26221\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps26222\" style=\"width:2.77pt\">.</span></div><div class=\"ps26225 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:151.62pt\">Fair value of financial instruments:</span></div><div class=\"ps26226 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.91pt\">for financial assets and liabilities that are liquid or nearing maturity, it is assumed that the carrying amount</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps26227 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.05pt\">equates to fair value; this assumption also applies to term deposits, securities that can be readily converted</span><span class=\"f charStyle-58d8bcbe ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps26228 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:209.41pt\">to cash, and variable-rate financial instruments;</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.02pt\">for the measurement of hedging instruments at fair value, the Group used valuation models based on market</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:53.33pt\">parameters;</span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.02pt\">the fair value of non-current financial payables was obtained by discounting all future cash flows to present</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:253.66pt\">value under the conditions in effect at the end of the year.</span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">Derivatives, valued using techniques based on market data, are mainly interest-rate swaps and forward sales/</span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:466.06pt\">purchases of foreign currencies to hedge both the fair value of the underlying instruments and cash flows.</span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">The most commonly applied measurement methods include forward pricing and swap models, which use</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">present value calculations. The models incorporate various inputs, including the non-performance risk rating of</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:468.42pt\">the counterparty, market volatility, spot and forward exchange rates and current and forward interest rates.</span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">An analysis of financial instruments measured at fair value, based on three different valuation levels is provided</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:79.99pt\">in the table below.</span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.02pt\">level 1: valuation for the financial assets in question was calculated using a methodology based on the NAV,</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:241.1pt\">which was obtained from specialised external sources;</span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.92pt\">level 2: valuation used for financial instruments measured at fair value was based on parameters such as<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.01pt\">exchange rates and interest rates, which are quoted on active markets or are observable on official yield</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:32.22pt\">curves;</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.05pt\">level 3: valuation used for financial liabilities deriving from or connected to business combinations, where a</span><span class=\"f charStyle-58d8bcbe ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.05pt\">portion of the consideration was determined as a condition subordinated to the company\u2019s performance<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1261\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:226.12pt\">acquired, based on contractually agreed indicators.</span></div><div class=\"ps15383 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:225.75pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23355 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14435 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14436 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26231 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14838 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6687 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Assets reported at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14843 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">0.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14848 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Non-current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps15180 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Liabilities reported at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps15185 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1765\"><div><div class=\"ps485 ss1760\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:137.58pt\">Non-current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps15187 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps15189 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">0.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Liabilities for put option and earn-out payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26232 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15156\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Financial liabilities at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16629 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">920.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16643 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">533.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps3137 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps16657 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">315.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps11645 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16672 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">754.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps26233 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:225.75pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:90pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-23317bb7 ps132\"><span style=\"background-color:inherit\">at 31 December 2024</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23355 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14435 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14436 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26229\">level 3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26231 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps14838 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6687 ss413\"><div><div class=\"ps485 ss255\"><span class=\"f charStyle-183bdf94 ps26230\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Assets reported at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps14843 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current assets for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps14848 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Non-current assets for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps15180 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">2.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4163 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Liabilities reported at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedging derivatives<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps15185 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Current liabilities for hedge derivatives, not in hedge accounting<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps15187 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps15161\">1.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6293 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Liabilities for put option and earn-out payments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps15190 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">164.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6297 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-ba8ac8da ps132\">Financial liabilities at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps6300 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Loans due to banks<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps16614 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps6988\">1,215.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2020<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps16629 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">517.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps9630 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td><td style=\"padding:0\"><div class=\"ps16643 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">319.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps3137 ss1765\"><div><div class=\"ps485 ss1760\"><span class=\"f charStyle-183bdf94 ps132\">Bonds issued in 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps16657 ss413\"><div><div class=\"ps476 ss255\"><span class=\"f charStyle-183bdf94 ps14840\">742.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps11291 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:472.2pt\">The following tables show the valuation techniques used in measuring level 2 and level 3 fair values </span><span class=\"f charStyle-58d8bcbe ps26234\" style=\"width:23.92pt\">at 31<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps11292 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.76pt\">December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps26235\" style=\"width:424.33pt\"> for financial instruments measured at fair value in the statement of Financial Position, and the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps11293 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:163.9pt\">significant unobservable inputs used.</span><span class=\"f charStyle-58d8bcbe ps26236\" style=\"width:2.77pt\"> </span></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:123.75pt\"></td><td style=\"padding:0;width:196.5pt\"></td><td style=\"padding:0;width:95.25pt\"></td><td style=\"padding:0;width:80.25pt\"></td></tr><tr style=\"height:45pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss960\"><div><div class=\"ps2465 ss458\"><span class=\"f charStyle-ba8ac8da ps132\">type<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7719 ss1922\"><div><div class=\"ps2465 ss1921\"><span class=\"f charStyle-ba8ac8da ps132\">valuation technique<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22946 ss1923\"><div><div class=\"ps2455 ss1822\"><span class=\"f charStyle-ba8ac8da ps132\">Significant unobservable <span class=\"f ps21\"> </span></span></div><div class=\"ps2456 ss1822\"><span class=\"f charStyle-ba8ac8da ps132\">inputs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26237 ss1924\"><div><div class=\"ps2463 ss618\"><span class=\"f charStyle-ba8ac8da ps132\">inter-relationship <span class=\"f ps21\"> </span></span></div><div class=\"ps2464 ss618\"><span class=\"f charStyle-ba8ac8da ps132\">between significant <span class=\"f ps21\"> </span></span></div><div class=\"ps2465 ss618\"><span class=\"f charStyle-ba8ac8da ps132\">unobservable inputs </span></div><div class=\"ps2466 ss618\"><span class=\"f charStyle-ba8ac8da ps132\">and fair value <span class=\"f ps21\"> </span></span></div><div class=\"ps2468 ss618\"><span class=\"f charStyle-ba8ac8da ps132\">measurement</span></div></div></div></td></tr><tr style=\"height:53.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1925\"><div><div class=\"ps2618 ss458\"><span class=\"f charStyle-183bdf94 ps132\">Forward and option exchange <span class=\"f ps21\"> </span></span></div><div class=\"ps2619 ss458\"><span class=\"f charStyle-183bdf94 ps132\">contracts</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26238 ss1926\"><div><div class=\"ps2415 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">The fair value is determined using quoted forward exchange <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">rates at the reporting date based on high credit quality yield <span class=\"f ps21\"> </span></span></div><div class=\"ps2419 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">curves in the respective currencies. The models incorporate </span></div><div class=\"ps2420 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">various inputs, including the counterparty's credit rating, </span></div><div class=\"ps2421 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">market volatility, spot and forward exchange rates and current </span></div><div class=\"ps2422 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">and forward interest rates.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22953 ss1927\"><div><div class=\"ps10643 ss1822\"><span class=\"f charStyle-183bdf94 ps132\">Not applicable.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26239 ss1928\"><div><div class=\"ps10643 ss618\"><span class=\"f charStyle-183bdf94 ps132\">Not applicable.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:104.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12854 ss1929\"><div><div class=\"ps10783 ss458\"><span class=\"f charStyle-183bdf94 ps132\">Interest rate<span class=\"f ps21\"> </span></span></div><div class=\"ps10785 ss458\"><span class=\"f charStyle-183bdf94 ps132\">swaps<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps13331 ss1930\"><div><div class=\"ps2415 ss1921\"><span class=\"f charStyle-40131897 ps132\">The fair value of interest rate swap agreements is calculated </span></div><div class=\"ps2417 ss1921\"><span class=\"f charStyle-40131897 ps132\">as the present value of the estimated future cash flows. </span></div><div class=\"ps2419 ss1921\"><span class=\"f charStyle-40131897 ps132\">Estimates of future floating-rate cash flows are based on </span></div><div class=\"ps2420 ss1921\"><span class=\"f charStyle-40131897 ps132\">quoted swap rates, futures prices and interbank borrowing </span></div><div class=\"ps2421 ss1921\"><span class=\"f charStyle-40131897 ps132\">rates. Estimated cash flows are discounted using a yield </span></div><div class=\"ps2422 ss1921\"><span class=\"f charStyle-40131897 ps132\">curve constructed from similar sources reflecting the </span></div><div class=\"ps2426 ss1921\"><span class=\"f charStyle-40131897 ps132\">applicable benchmark interbank rate used by market </span></div><div class=\"ps2429 ss1921\"><span class=\"f charStyle-40131897 ps132\">participants when pricing interest rate swaps. The fair value </span></div><div class=\"ps2432 ss1921\"><span class=\"f charStyle-40131897 ps132\">estimate is subject to a credit risk adjustment that reflects the </span></div><div class=\"ps2434 ss1921\"><span class=\"f charStyle-40131897 ps132\">credit risk of the Group and the counterparty; this is </span></div><div class=\"ps2436 ss1921\"><span class=\"f charStyle-40131897 ps132\">calculated based on credit spreads derived from current </span></div><div class=\"ps2438 ss1921\"><span class=\"f charStyle-40131897 ps132\">credit default swap or bond prices.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26240 ss1931\"><div><div class=\"ps10776 ss1822\"><span class=\"f charStyle-183bdf94 ps132\">Not applicable.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26241 ss1932\"><div><div class=\"ps10776 ss618\"><span class=\"f charStyle-183bdf94 ps132\">Not applicable.<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:129pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11659 ss1933\"><div><div class=\"ps2470 ss458\"><span class=\"f charStyle-183bdf94 ps132\">Contingent consideration and put or <span class=\"f ps21\"> </span></span></div><div class=\"ps2471 ss458\"><span class=\"f charStyle-183bdf94 ps132\">put/call agreements connected with </span></div><div class=\"ps2472 ss458\"><span class=\"f charStyle-183bdf94 ps132\">business combination</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14235 ss1934\"><div><div class=\"ps2460 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">The valuation model considers the present value of expected <span class=\"f ps21\"> </span></span></div><div class=\"ps2461 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">payments, discounted using a risk-adjusted discount rate.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26246 ss1935\"><div><div class=\"ps2456 ss1822\"><span class=\"f charStyle-40131897 ps132\">Wilderness Trail Distillery </span></div><div class=\"ps2457 ss1822\"><span class=\"f charStyle-40131897 ps132\">option</span></div><div class=\"ps2458 ss1822\"><span class=\"f charStyle-40131897 ps132\">- expected contractually </span></div><div class=\"ps2459 ss1822\"><span class=\"f charStyle-40131897 ps132\">target business </span></div><div class=\"ps2460 ss1822\"><span class=\"f charStyle-40131897 ps132\">performances measured </span></div><div class=\"ps2461 ss1822\"><span class=\"f charStyle-40131897 ps132\">over a period of 9 years from </span></div><div class=\"ps26242 ss1822\"><span class=\"f charStyle-40131897 ps132\">the acquisition date;</span></div><div class=\"ps26243 ss1822\"><span class=\"f charStyle-40131897 ps132\">- risk-adjusted discount rate: </span></div><div class=\"ps26244 ss1822\"><span class=\"f charStyle-40131897 ps132\">3.9%.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26252 ss1936\"><div><div class=\"ps2463 ss618\"><span class=\"f charStyle-40131897 ps132\">Estimated fair value </span></div><div class=\"ps2464 ss618\"><span class=\"f charStyle-40131897 ps132\">would increase <span class=\"f ps21\"> </span></span></div><div class=\"ps2465 ss618\"><span class=\"f charStyle-40131897 ps132\">(decrease) if:</span></div><div class=\"ps2466 ss618\"><span class=\"f charStyle-40131897 ps132\">- the expected </span></div><div class=\"ps2468 ss618\"><span class=\"f charStyle-40131897 ps132\">contractually targeted </span></div><div class=\"ps2469 ss618\"><span class=\"f charStyle-40131897 ps132\">business performance </span></div><div class=\"ps2470 ss618\"><span class=\"f charStyle-40131897 ps132\">was higher (lower); or</span></div><div class=\"ps2471 ss618\"><span class=\"f charStyle-40131897 ps132\">the risk-adjusted <span class=\"f ps21\"> </span></span></div><div class=\"ps2472 ss618\"><span class=\"f charStyle-40131897 ps132\">discount rate was lower </span></div><div class=\"ps2473 ss618\"><span class=\"f charStyle-40131897 ps132\">(higher) with related </span></div><div class=\"ps26247 ss618\"><span class=\"f charStyle-40131897 ps132\">impact on financial </span></div><div class=\"ps26248 ss618\"><span class=\"f charStyle-40131897 ps132\">liabilities affecting the <span class=\"f ps21\"> </span></span></div><div class=\"ps26249 ss618\"><span class=\"f charStyle-40131897 ps132\">expected cash out </span></div><div class=\"ps26250 ss618\"><span class=\"f charStyle-40131897 ps132\">value and Campari </span></div><div class=\"ps26251 ss618\"><span class=\"f charStyle-40131897 ps132\">Group net equity.</span></div></div></div></td></tr><tr style=\"height:153.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9479 ss1937\"><div><div class=\"ps2587 ss458\"><span class=\"f charStyle-183bdf94 ps132\">Variable payments in form of earn-out <span class=\"f ps21\"> </span></span></div><div class=\"ps2588 ss458\"><span class=\"f charStyle-183bdf94 ps132\">agreements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps14249 ss1938\"><div><div class=\"ps2587 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">The valuation model considers the present value of expected <span class=\"f ps21\"> </span></span></div><div class=\"ps2588 ss1921\"><span class=\"f charStyle-183bdf94 ps132\">payments.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26253 ss1939\"><div><div class=\"ps2415 ss1822\"><span class=\"f charStyle-40131897 ps132\">CT Spirits Japan variable </span></div><div class=\"ps2417 ss1822\"><span class=\"f charStyle-40131897 ps132\">earn-out<span class=\"f ps21\"> </span></span></div><div class=\"ps2419 ss1822\"><span class=\"f charStyle-40131897 ps132\"> - expected contractually </span></div><div class=\"ps2420 ss1822\"><span class=\"f charStyle-40131897 ps132\">target business </span></div><div class=\"ps2421 ss1822\"><span class=\"f charStyle-40131897 ps132\">performances measured </span></div><div class=\"ps2422 ss1822\"><span class=\"f charStyle-40131897 ps132\">over a period of 3 years from <span class=\"f ps21\"> </span></span></div><div class=\"ps2426 ss1822\"><span class=\"f charStyle-40131897 ps132\">the acquisition date</span></div><div class=\"ps2429 ss1822\"><span class=\"f charStyle-40131897 ps132\"> - risk-adjusted discount rate </span></div><div class=\"ps2432 ss1822\"><span class=\"f charStyle-40131897 ps132\">3.5%.</span></div><div class=\"ps2436 ss1822\"><span class=\"f charStyle-40131897 ps132\">Courvoisier earn-out</span></div><div class=\"ps2438 ss1822\"><span class=\"f charStyle-40131897 ps132\"> - company performance </span></div><div class=\"ps2440 ss1822\"><span class=\"f charStyle-40131897 ps132\">contractually envisaged with </span></div><div class=\"ps2441 ss1822\"><span class=\"f charStyle-40131897 ps132\">targets based on sales </span></div><div class=\"ps2444 ss1822\"><span class=\"f charStyle-40131897 ps132\">performances (in USD) in </span></div><div class=\"ps2445 ss1822\"><span class=\"f charStyle-40131897 ps132\">2028</span></div><div class=\"ps2447 ss1822\"><span class=\"f charStyle-40131897 ps132\"> - risk adjusted discount rate </span></div><div class=\"ps2449 ss1822\"><span class=\"f charStyle-40131897 ps132\">5.8%.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26260 ss1940\"><div><div class=\"ps10824 ss618\"><span class=\"f charStyle-40131897 ps132\">The estimated fair value </span></div><div class=\"ps2724 ss618\"><span class=\"f charStyle-40131897 ps132\">would increase </span></div><div class=\"ps2725 ss618\"><span class=\"f charStyle-40131897 ps132\">(decrease) if: </span></div><div class=\"ps2726 ss618\"><span class=\"f charStyle-40131897 ps132\"> - the expected </span></div><div class=\"ps2727 ss618\"><span class=\"f charStyle-40131897 ps132\">contractually targeted </span></div><div class=\"ps2728 ss618\"><span class=\"f charStyle-40131897 ps132\">business performance, </span></div><div class=\"ps2729 ss618\"><span class=\"f charStyle-40131897 ps132\">was higher (lower) with </span></div><div class=\"ps26254 ss618\"><span class=\"f charStyle-40131897 ps132\">related impact in </span></div><div class=\"ps26255 ss618\"><span class=\"f charStyle-40131897 ps132\">financial liabilities </span></div><div class=\"ps26256 ss618\"><span class=\"f charStyle-40131897 ps132\">affecting the expected <span class=\"f ps21\"> </span></span></div><div class=\"ps26257 ss618\"><span class=\"f charStyle-40131897 ps132\">cash out value and the </span></div><div class=\"ps26258 ss618\"><span class=\"f charStyle-40131897 ps132\">statement of profit or </span></div><div class=\"ps26259 ss618\"><span class=\"f charStyle-40131897 ps132\">loss.</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26262 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">The following table shows a reconciliation from the opening balance to the closing balance of the periods for</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps26263 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:79.98pt\">level 3 fair values.</span></div><div class=\"ps26274 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:269.25pt\"></td><td style=\"padding:0;width:226.5pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1941\"><div><div class=\"ps979 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps22765 ss846\"><div><div class=\"ps2776 ss841\"><span class=\"f charStyle-183bdf94 ps2687\">liabilities for contingent considerations, put option and earn-out and <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss841\"><span class=\"f charStyle-183bdf94 ps26265\">derivatives over equity investments and joint-ventures</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">level 3 fair values at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26267 ss842\"><div><div class=\"ps485 ss841\"><span class=\"f charStyle-ba8ac8da ps26266\">164.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">- change in fair value included in profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26269 ss842\"><div><div class=\"ps476 ss841\"><span class=\"f charStyle-183bdf94 ps26268\">(49.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">- change in fair value included in Group net equity<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26270 ss842\"><div><div class=\"ps476 ss841\"><span class=\"f charStyle-183bdf94 ps26268\">(15.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps498 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-183bdf94 ps132\">- exchange rate effect and other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26271 ss842\"><div><div class=\"ps476 ss841\"><span class=\"f charStyle-183bdf94 ps26268\">(13.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1739\"><div><div class=\"ps485 ss1738\"><span class=\"f charStyle-ba8ac8da ps132\">level 3 fair values at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26273 ss842\"><div><div class=\"ps485 ss841\"><span class=\"f charStyle-ba8ac8da ps26272\">86.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26283 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:261pt\"></td><td style=\"padding:0;width:234.75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1943\"><div><div class=\"ps979 ss1942\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26277 ss1945\"><div><div class=\"ps2776 ss1944\"><span class=\"f charStyle-183bdf94 ps4227\">liabilities for contingent considerations, put option and earn-out and <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss1944\"><span class=\"f charStyle-183bdf94 ps26276\">derivatives over equity investments and joint-ventures</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-ba8ac8da ps132\">level 3 fair values at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26279 ss1947\"><div><div class=\"ps485 ss1944\"><span class=\"f charStyle-ba8ac8da ps26278\">231.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1126 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-183bdf94 ps132\">- change in fair value included in profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6476 ss1947\"><div><div class=\"ps476 ss1944\"><span class=\"f charStyle-183bdf94 ps26280\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps490 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-183bdf94 ps132\">- disposal<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6492 ss1947\"><div><div class=\"ps476 ss1944\"><span class=\"f charStyle-183bdf94 ps653\">(125.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps498 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-183bdf94 ps132\">- additions<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6507 ss1947\"><div><div class=\"ps476 ss1944\"><span class=\"f charStyle-183bdf94 ps19136\">50.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps505 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-183bdf94 ps132\">- exchange rate effect and other movements<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6519 ss1947\"><div><div class=\"ps476 ss1944\"><span class=\"f charStyle-183bdf94 ps26281\">7.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1043 ss1946\"><div><div class=\"ps485 ss1942\"><span class=\"f charStyle-ba8ac8da ps132\">level 3 fair values at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26282 ss1947\"><div><div class=\"ps485 ss1944\"><span class=\"f charStyle-ba8ac8da ps26278\">164.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">For the level 3 fair value items, reasonably possible changes at the reporting date to one of the significant</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">unobservable inputs, holding other inputs constant, would have been the following effects. The baseline is the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:470.49pt\">contingent consideration recorded as put option liability in the Consolidated Financial statements </span><span class=\"f charStyle-58d8bcbe ps26285\" style=\"width:25.69pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2025</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:2.77pt\">.</span></div><div class=\"ps16923 ss1\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:300.75pt\"></td><td style=\"padding:0;width:97.5pt\"></td><td style=\"padding:0;width:97.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps3073 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26286\">profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26287 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps7014\">group net equity<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps3059 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps6638\">(+) increase/(-) decrease<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24777 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps6638\">(+) increase/(-) decrease<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-ba8ac8da ps132\">liabilities for contingent considerations, put option and earn-out<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">risk adjusted discount rate +/-1% (+/-100 basis points)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps4133 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-40131897 ps26288\">'-/-</span><span class=\"f charStyle-85922b7e ps26289\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps26291 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26290\">4.7/-4.4<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">expected contractually target business performances +/-10% (+/-1000 basis points)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps4148 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-40131897 ps26288\">'-/-</span><span class=\"f charStyle-85922b7e ps26289\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26293 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26292\">-8.6/+8.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26294 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-85922b7e ps579\"><sup>(1)</sup></span><span class=\"f charStyle-40131897 ps1167\">Non-meaningful figure.</span></div><div class=\"ps26297 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:300.75pt\"></td><td style=\"padding:0;width:97.5pt\"></td><td style=\"padding:0;width:97.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps3073 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26286\">profit or loss<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26287 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps7014\">group net equity<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps3059 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps6638\">(+) increase/(-) decrease<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps24777 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps6638\">(+) increase/(-) decrease<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-ba8ac8da ps132\">liabilities for contingent considerations, put option and earn-out<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-right:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">risk adjusted discount rate +/-1% (+/-100 basis points)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps4133 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26290\">1.8/-1.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26291 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26290\">6.9/-7.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1949\"><div><div class=\"ps476 ss1948\"><span class=\"f charStyle-183bdf94 ps132\">expected contractually target business performances +/-10% (+/-1000 basis points)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;padding:0\"><div class=\"ps4148 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26292\">-5.0/+5.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;padding:0\"><div class=\"ps26293 ss1951\"><div><div class=\"ps476 ss1950\"><span class=\"f charStyle-183bdf94 ps26296\">-11.5/+11.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26299 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">In light of the negligible amount of derivatives over equity investments and joint-ventures classified as level 3 fair</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps26300 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">value items, no sensitivity was detected as any reasonably possible changes at the balance sheet date of one of</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps26301 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">the significant unobservable inputs, keeping the other variables constant, would not have generated material</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps26303 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:321.19pt\">effects either on the statement of profit or loss or on the group net equity.<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps26302\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps21573 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ca5f4806 ps56\" style=\"width:90.55pt\">Financial derivatives</span></div><div class=\"ps26307 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:280.69pt\">A summary of financial derivatives implemented by the Group </span><span class=\"f charStyle-58d8bcbe ps26305\" style=\"width:98.22pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26306\" style=\"width:117.26pt\">, broken down by hedging<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26308 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:110.35pt\">strategy, is shown below.<span class=\"f ps21\"> </span></span></div><div class=\"ps26310 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:169.99pt\">Derivatives used for fair value hedging</span><span class=\"f charStyle-58d8bcbe ps26309\" style=\"width:2.77pt\"> </span></div><div class=\"ps26312 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:103.79pt\">At 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26311\" style=\"width:392.42pt\">, certain Group subsidiaries have contracts for hedging payables and receivables in</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps26313 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">foreign currency in place that meet the requirements to be defined as fair value hedging instruments. These</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps26314 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">contracts were negotiated to match maturities with incoming and outgoing cash flows resulting from sales and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps26315 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:41.13pt\">purchase</span><span class=\"f charStyle-bdf8be45 ps2595\" style=\"width:454.98pt\"><span style=\"background-color:inherit\">s in individual currencies. At the reporting date the valuation of these contracts gave rise to the</span></span><span class=\"f charStyle-bdf8be45 ps63\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26320 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:69.02pt\"><span style=\"background-color:inherit\">reporting of ass</span></span><span class=\"f charStyle-58d8bcbe ps26316\" style=\"width:24.5pt\">ets of</span><span class=\"f charStyle-58d8bcbe ps26317\" style=\"width:178.22pt\"> \u20ac0.6 million and liabilities of \u20ac0.1 million</span><span class=\"f charStyle-58d8bcbe ps26318\" style=\"width:6.17pt\"> (</span><span class=\"f charStyle-bdf8be45 ps26319\" style=\"width:218.28pt\"><span style=\"background-color:inherit\">\u20ac0.9 million of assets and \u20ac4.2 million of liabilities</span></span><span class=\"f charStyle-bdf8be45 ps465\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26322 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:38.89pt\"><span style=\"background-color:inherit\">in 2024).</span></span><span class=\"f charStyle-bdf8be45 ps26321\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26323 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">Gains and losses on the hedged and hedging instruments used in all the Group\u2019s fair value hedges,</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps26325 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:216.67pt\">corresponding to the contracts mentioned above,</span><span class=\"f charStyle-bdf8be45 ps26324\" style=\"width:105.55pt\"><span style=\"background-color:inherit\"> are summarised below.</span></span></div><div class=\"ps26338 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:252.75pt\"></td><td style=\"padding:0;width:121.5pt\"></td><td style=\"padding:0;width:121.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8246 ss1040\"><div><div class=\"ps476 ss1039\"><span class=\"f charStyle-183bdf94 ps26327\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26328 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps25460\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9583 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps25460\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18341 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps14653\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9589 ss1954\"><div><div class=\"ps485 ss1953\"><span class=\"f charStyle-183bdf94 ps14653\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Gains on hedging instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26330 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9592 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Losses on hedging instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26332 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26331\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9595 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26333\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-ba8ac8da ps132\">Total gains (losses) on hedging instruments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26334 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26329\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9599 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26329\">1.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Gains on hedged items<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26335 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9603 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26329\">3.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-183bdf94 ps132\">Losses on hedged items<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26336 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26333\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9607 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-183bdf94 ps26333\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4965 ss1955\"><div><div class=\"ps485 ss1952\"><span class=\"f charStyle-ba8ac8da ps132\">Total gains (losses) on hedged items<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26337 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26333\">(0.2)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps9611 ss1954\"><div><div class=\"ps476 ss1953\"><span class=\"f charStyle-ba8ac8da ps26329\">2.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26340 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:171.1pt\">Derivatives used for cash flow hedging</span></div><div class=\"ps26341 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:279.93pt\">The Group uses the following contracts to hedge its cash flows:</span></div><div class=\"ps26342 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.03pt\">interest-rate swaps hedging the risk of interest rate fluctuations on future transactions relating to the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps26344 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:124.98pt\">stipulation of financial loans;</span><span class=\"f charStyle-58d8bcbe ps26343\" style=\"width:2.77pt\"> </span></div><div class=\"ps26345 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.93pt\">hedging of future sales and purchases in currencies other than the \u20ac and interest rates on future</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps26346 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:56.66pt\">transactions.</span></div><div class=\"ps26347 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:496.22pt\"><span style=\"background-color:inherit\">The fair value variation of the hedging instruments during the year generated a negative impact in other</span></span><span class=\"f charStyle-bdf8be45 ps74\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26352 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:127.81pt\"><span style=\"background-color:inherit\">comprehensive income of \u20ac</span></span><span class=\"f charStyle-bdf8be45 ps26348\" style=\"width:13.89pt\"><span style=\"background-color:inherit\">0.4</span></span><span class=\"f charStyle-bdf8be45 ps26349\" style=\"width:64.46pt\"><span style=\"background-color:inherit\"> million and \u20ac</span></span><span class=\"f charStyle-bdf8be45 ps26350\" style=\"width:13.89pt\"><span style=\"background-color:inherit\">1.8</span><span class=\"f ps21\"> </span></span><span class=\"f charStyle-bdf8be45 ps26351\" style=\"width:276.11pt\"><span style=\"background-color:inherit\"> million in profit or loss related to the reversal of cash flow</span></span><span class=\"f charStyle-bdf8be45 ps70\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26356 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:378.41pt\"><span style=\"background-color:inherit\">reserve associated with the pre-hedge derivative (compared with negative impact of \u20ac</span></span><span class=\"f charStyle-bdf8be45 ps6166\" style=\"width:13.89pt\"><span style=\"background-color:inherit\">2.9</span></span><span class=\"f charStyle-bdf8be45 ps26353\" style=\"width:58.91pt\"><span style=\"background-color:inherit\"> million and \u20ac</span></span><span class=\"f charStyle-bdf8be45 ps26354\" style=\"width:13.89pt\"><span style=\"background-color:inherit\">0.8</span></span><span class=\"f charStyle-bdf8be45 ps26355\" style=\"width:31.11pt\"><span style=\"background-color:inherit\"> million</span><span class=\"f ps21\"> </span></span><span class=\"f charStyle-bdf8be45 ps94\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps21\"> </span></span></div><div class=\"ps26359 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:66.1pt\">respectively in </span><span class=\"f charStyle-58d8bcbe ps19241\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps26357\" style=\"width:6.1pt\">).</span><span class=\"f charStyle-58d8bcbe ps26358\" style=\"width:2.77pt\"> </span></div><div class=\"ps26361 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:419.95pt\">At the reporting date, the valuation of these contracts gave rise to the reporting of assets of</span><span class=\"f charStyle-58d8bcbe ps26360\" style=\"width:65.1pt\"> \u20ac1.0 million a</span><span class=\"f charStyle-58d8bcbe ps22941\" style=\"width:11.12pt\">nd</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps26365 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:339.33pt\">\u20ac1.5 million of liabilities (assets of \u20ac2.5 million and \u20ac2.1 million of liabilities in </span><span class=\"f charStyle-58d8bcbe ps26362\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps26363\" style=\"width:6.1pt\">).</span><span class=\"f charStyle-58d8bcbe ps26364\" style=\"width:2.77pt\"> </span></div></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:487.85pt\">The following table shows when the aforementioned hedged cash flows are expected to be received (paid), </span><span class=\"f charStyle-58d8bcbe ps26367\" style=\"width:8.33pt\">at</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:89.8pt\">31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26368\" style=\"width:406.42pt\">. These cash flows concern both interest and currency derivatives and have not been</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps2 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:54.31pt\">discounted. </span><span class=\"f charStyle-bdf8be45 ps26369\" style=\"width:441.78pt\"><span style=\"background-color:inherit\">Since the Group does not distinguish the outflows for positive and negative fair values of derivative</span></span><span class=\"f charStyle-bdf8be45 ps372\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdf8be45 ps56\" style=\"width:236.07pt\"><span style=\"background-color:inherit\">contracts, the below cash outflows are presented net.</span></span></div><div class=\"ps16923 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1956 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:198.75pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8757 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26371\">within one year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26373 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26372\">1-5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26374\">total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26375 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6310 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps15089 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1105 ss556\"><div><div class=\"ps485 ss555\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:55.18pt\">Cash outflows (A)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps26377 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(0.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6319 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(1.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23574 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps906 ss556\"><div><div class=\"ps485 ss555\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:50.9pt\">Cash inflows (B)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26378 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6331 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23575 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">7.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps914 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-ba8ac8da ps132\">Net cash flows (A+B)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26379 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps26376\">(0.1)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6346 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">6.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23576 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps21570 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:198pt\"></td><td style=\"padding:0;width:99.75pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1343\"><div><div class=\"ps485 ss504\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8654 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps26380\">within one year<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26373 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26372\">1-5 years<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26374\">total<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:1pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps15942 ss845\"><div><div class=\"ps485 ss844\"><span class=\"f charStyle-183bdf94 ps21299\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6310 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps15089 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:1pt solid #000000;padding:0\"><div class=\"ps1105 ss1343\"><div><div class=\"ps485 ss504\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:55.18pt\">Cash outflows (A)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4509 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps21891\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6319 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps23574 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(5.2)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1343\"><div><div class=\"ps485 ss504\"><span class=\"f charStyle-183bdf94 ps132\">Cash inflows (B)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps4523 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-183bdf94 ps21894\">0.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6331 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">10.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23575 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">10.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1343\"><div><div class=\"ps485 ss504\"><span class=\"f charStyle-ba8ac8da ps132\">Net cash flows<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps4535 ss845\"><div><div class=\"ps476 ss844\"><span class=\"f charStyle-ba8ac8da ps21891\">(1.3)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6346 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">6.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23576 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">5.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26382 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:461.66pt\">The overall changes in the cash flow hedge reserve and the associated deferred taxes are shown below.</span></div><div class=\"ps26388 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:198.75pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8757 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26384\">gross amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26373 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26385\">tax effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps23758\">net amount<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26375 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6310 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps15089 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26377 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">8.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6319 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23574 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">6.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">profit or loss impact<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26378 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(1.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6331 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">0.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23575 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(1.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">net equity impact<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26379 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6346 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23561\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23576 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss556\"><div><div class=\"ps476 ss555\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26386 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">6.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26387 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps26376\">(1.5)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23577 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-ba8ac8da ps23567\">4.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26390 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:198.75pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:99pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8757 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26384\">gross amount<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26373 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps26385\">tax effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23573 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps23758\">net amount<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26375 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6310 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps15089 ss1666\"><div><div class=\"ps485 ss1665\"><span class=\"f charStyle-183bdf94 ps21314\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26377 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps21325\">12.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6319 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23574 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">9.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">profit or loss impact<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26378 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(0.8)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps6331 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">0.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23575 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss556\"><div><div class=\"ps485 ss555\"><span class=\"f charStyle-183bdf94 ps132\">net equity impact<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26379 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(2.9)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6346 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">0.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps23576 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(2.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss556\"><div><div class=\"ps476 ss555\"><span class=\"f charStyle-183bdf94 ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26386 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">8.6<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26387 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps26376\">(2.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps23577 ss1666\"><div><div class=\"ps476 ss1665\"><span class=\"f charStyle-183bdf94 ps23567\">6.6<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15452 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:252.81pt\">Hedging derivatives not reported using hedge accounting</span></div><div class=\"ps9895 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:470.68pt\">These instruments are mainly related to hedges of future purchases in currencies other than the \u20ac. </span><span class=\"f charStyle-58d8bcbe ps26391\" style=\"width:25.45pt\">At 31</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps15455 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:72.28pt\">December 2025</span><span class=\"f charStyle-58d8bcbe ps26392\" style=\"width:97.9pt\">, financial assets of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26393\" style=\"width:13.89pt\">1.3</span><span class=\"f charStyle-58d8bcbe ps26394\" style=\"width:151.3pt\"> million and financial liabilities of </span><span class=\"f charStyle-58d8bcbe ps26395\" style=\"width:5.56pt\">\u20ac</span><span class=\"f charStyle-58d8bcbe ps26396\" style=\"width:13.89pt\">0.3</span><span class=\"f charStyle-58d8bcbe ps26397\" style=\"width:26.69pt\"> millio</span><span class=\"f charStyle-58d8bcbe ps26398\" style=\"width:91.23pt\">n were recognised (</span><span class=\"f charStyle-58d8bcbe ps26399\" style=\"width:23.37pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps3764 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2024</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:90.53pt\"> financial assets of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26400\" style=\"width:13.89pt\">0.4</span><span class=\"f charStyle-58d8bcbe ps26401\" style=\"width:149.96pt\"> million and financial liabilities of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26402\" style=\"width:13.89pt\">1.5</span><span class=\"f charStyle-58d8bcbe ps26403\" style=\"width:95.52pt\"> million, respectively).</span></div><div class=\"ps7849 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:126pt\">Non-Financial Instruments</span></div><div class=\"ps15459 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">The following table details the hierarchy of non-financial instruments measured at fair value, based on the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps15460 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:426.45pt\">valuation methods used. There were no transfers between fair value measurement levels during </span><span class=\"f charStyle-bdf8be45 ps26404\" style=\"width:36.11pt\"><span style=\"background-color:inherit\">the year</span></span><span class=\"f charStyle-bdf8be45 ps26405\" style=\"width:2.77pt\"><span style=\"background-color:inherit\"> </span></span><span class=\"f charStyle-58d8bcbe ps26406\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps26407\" style=\"width:2.77pt\">.<span class=\"f ps21\"> </span></span></div><div class=\"ps15462 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:171.63pt\">Fair value of non-financial instruments:</span></div><div class=\"ps15463 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.09pt\">The following table details the hierarchy of non-financial instruments measured at fair value, based on the</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps15464 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:108.34pt\">valuation methods used:</span></div><div class=\"ps15465 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:482.04pt\">level 1: the valuation methods use prices quoted on an active market for the assets and liabilities subject to</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps15466 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:42.78pt\">valuation;</span></div><div class=\"ps15467 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:481.94pt\">level 2: the valuation methods take into account inputs other than the quoted market prices in level 1, but</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps15468 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:319.37pt\">only those that are observable on the market, either directly or indirectly;</span></div><div class=\"ps15469 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps1256\" style=\"width:428.84pt\">level 3: the methods used take into account inputs that are not based on observable market data.</span></div><div class=\"ps26417 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:171.75pt\"></td><td style=\"padding:0;width:108pt\"></td><td style=\"padding:0;width:108pt\"></td><td style=\"padding:0;width:108pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18012 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps26408\">level 1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12383 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps26408\">level 2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18812 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps26408\">level 3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18027 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps25627\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12385 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps25627\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12389 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps25627\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1105 ss1960\"><div><div class=\"ps485 ss1957\"><span class=\"f charStyle-ba8ac8da ps132\">Assets valued at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1960\"><div><div class=\"ps485 ss1957\"><span class=\"f charStyle-183bdf94 ps132\">Third-party investment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps23936 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26410 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26412 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26411\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1960\"><div><div class=\"ps485 ss1957\"><span class=\"f charStyle-183bdf94 ps132\">Biological assets in inventory<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps23942 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26413 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26414 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26411\">34.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1960\"><div><div class=\"ps485 ss1957\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps23948 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26415 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26416 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-ba8ac8da ps26411\">61.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:171.75pt\"></td><td style=\"padding:0;width:108pt\"></td><td style=\"padding:0;width:108pt\"></td><td style=\"padding:0;width:108pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18012 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps26408\">level 1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps12383 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps26408\">level 2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18812 ss1959\"><div><div class=\"ps485 ss1958\"><span class=\"f charStyle-183bdf94 ps26408\">level 3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:9pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps18027 ss1961\"><div><div class=\"ps9673 ss1958\"><span class=\"f charStyle-183bdf94 ps25627\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12385 ss1961\"><div><div class=\"ps9673 ss1958\"><span class=\"f charStyle-183bdf94 ps25627\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps12389 ss1961\"><div><div class=\"ps9673 ss1958\"><span class=\"f charStyle-183bdf94 ps25627\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps8198 ss1960\"><div><div class=\"ps485 ss1957\"><span class=\"f charStyle-ba8ac8da ps132\">Assets valued at fair value<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"border-top:0.5pt solid #000000;padding:0\"></td></tr><tr style=\"height:9pt\"><td style=\"padding:0\"><div class=\"ps1126 ss1962\"><div><div class=\"ps9673 ss1957\"><span class=\"f charStyle-183bdf94 ps132\">Third-party investment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps18656 ss1961\"><div><div class=\"ps22869 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12394 ss1961\"><div><div class=\"ps22869 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps12396 ss1961\"><div><div class=\"ps22869 ss1958\"><span class=\"f charStyle-183bdf94 ps26411\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps2371 ss1960\"><div><div class=\"ps485 ss1957\"><span class=\"f charStyle-183bdf94 ps132\">Biological assets in inventory<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26419 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26420 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26421 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26411\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps7311 ss1960\"><div><div class=\"ps485 ss1957\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26422 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26423 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-183bdf94 ps26409\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26424 ss1959\"><div><div class=\"ps476 ss1958\"><span class=\"f charStyle-ba8ac8da ps26411\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps1889 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:472.2pt\">The following tables show the valuation techniques used in measuring level 2 and level 3 fair values </span><span class=\"f charStyle-58d8bcbe ps26234\" style=\"width:23.92pt\">at 31<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1891 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.58pt\">December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps26425\" style=\"width:424.53pt\"> for non-financial instruments measured at fair value in the statement of Financial Position, and</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1892 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:180.56pt\">the significant unobservable inputs used.</span></div><div class=\"ps26438 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:122.25pt\"></td><td style=\"padding:0;width:124.5pt\"></td><td style=\"padding:0;width:124.5pt\"></td><td style=\"padding:0;width:124.5pt\"></td></tr><tr style=\"height:27.75pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss762\"><div><div class=\"ps2415 ss659\"><span class=\"f charStyle-ba8ac8da ps132\">type<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26426 ss1963\"><div><div class=\"ps2415 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:65.65pt\">valuation technique<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26427 ss1963\"><div><div class=\"ps2415 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:34.96pt\">significant<span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:68.37pt\">unobservable inputs<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7723 ss1963\"><div><div class=\"ps2415 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:119.24pt\">inter-relationship between<span class=\"f ps21\"> </span></span><span class=\"f charStyle-ba8ac8da ps26428\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:119.23pt\">significant unobservable inputs<span class=\"f ps21\"> </span></span><span class=\"f charStyle-ba8ac8da ps26429\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2419 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba8ac8da ps132\" style=\"width:92.49pt\">and fair value measurement<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:78pt\"><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7726 ss759\"><div><div class=\"ps2381 ss659\"><span class=\"f charStyle-183bdf94 ps132\">biological assets (inventory)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26431 ss1964\"><div><div class=\"ps2415 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.24pt\">The fair value of agricultural products<span class=\"f ps21\"> </span></span><span class=\"f charStyle-183bdf94 ps26428\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.24pt\">grown on the plant is determined by</span><span class=\"f charStyle-183bdf94 ps26428\" style=\"width:1.94pt\"> </span></div><div class=\"ps2419 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.22pt\">considering the market value of</span><span class=\"f charStyle-183bdf94 ps26430\" style=\"width:1.94pt\"> </span></div><div class=\"ps2420 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.22pt\">similar commodities and the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-183bdf94 ps26430\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2421 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.24pt\">biological/vegetative cycle which is<span class=\"f ps21\"> </span></span><span class=\"f charStyle-183bdf94 ps26428\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2422 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.22pt\">based on all costs incurred in</span><span class=\"f charStyle-183bdf94 ps26430\" style=\"width:1.94pt\"> </span></div><div class=\"ps2426 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.22pt\">anticipation of the future harvest</span><span class=\"f charStyle-183bdf94 ps26430\" style=\"width:1.94pt\"> </span></div><div class=\"ps2429 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.24pt\">(service, products and other ancillary</span><span class=\"f charStyle-183bdf94 ps26428\" style=\"width:1.94pt\"> </span></div><div class=\"ps2432 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:20.6pt\">costs).</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26434 ss1964\"><div><div class=\"ps1083 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps9423\" style=\"width:2.33pt\">-<span class=\"f ps21\"> </span></span><span class=\"f charStyle-40131897 ps9424\" style=\"width:112.12pt\">actual cost of cultivation and</span><span class=\"f charStyle-40131897 ps26432\" style=\"width:1.94pt\"> </span></div><div class=\"ps2976 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps9424\" style=\"width:112.14pt\">preparation of the land and the</span><span class=\"f charStyle-40131897 ps26429\" style=\"width:1.94pt\"> </span></div><div class=\"ps2989 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps9424\" style=\"width:52.48pt\">plant per hectare</span><span class=\"f charStyle-40131897 ps26433\" style=\"width:1.94pt\"> </span></div><div class=\"ps2990 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps9423\" style=\"width:2.33pt\">-<span class=\"f ps21\"> </span></span><span class=\"f charStyle-40131897 ps9424\" style=\"width:87.46pt\">estimated yields per hectare</span></div><div class=\"ps2991 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps9423\" style=\"width:2.33pt\">-<span class=\"f ps21\"> </span></span><span class=\"f charStyle-40131897 ps9424\" style=\"width:112.14pt\">estimated market price for similar</span><span class=\"f charStyle-40131897 ps26429\" style=\"width:1.94pt\"> </span></div><div class=\"ps2992 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps9424\" style=\"width:41.2pt\">commodities.</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7733 ss1964\"><div><div class=\"ps2374 ss353\"><span class=\"f charStyle-183bdf94 ps132\">The estimated fair value would <span class=\"f ps21\"> </span></span></div><div class=\"ps2377 ss353\"><span class=\"f charStyle-183bdf94 ps132\">increase (decrease) if:</span></div><div class=\"ps2378 ss353\"><span class=\"f charStyle-183bdf94 ps132\"> - the estimated cost of cultivation and <span class=\"f ps21\"> </span></span></div><div class=\"ps2381 ss353\"><span class=\"f charStyle-183bdf94 ps132\">preparation of the land and plantation </span></div><div class=\"ps2382 ss353\"><span class=\"f charStyle-183bdf94 ps132\">was higher (lower); or</span></div><div class=\"ps2385 ss353\"><span class=\"f charStyle-183bdf94 ps132\"> - the estimated yield per hectare was <span class=\"f ps21\"> </span></span></div><div class=\"ps2350 ss353\"><span class=\"f charStyle-183bdf94 ps132\">higher (lower).</span></div></div></div></td></tr><tr style=\"height:87pt\"><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps5110 ss1965\"><div><div class=\"ps2458 ss659\"><span class=\"f charStyle-183bdf94 ps132\">third-party investments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26435 ss1966\"><div><div class=\"ps2415 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.24pt\">The valuation model considers<span class=\"f ps21\"> </span></span><span class=\"f charStyle-183bdf94 ps26428\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2417 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.24pt\">investments in companies that are</span><span class=\"f charStyle-183bdf94 ps26428\" style=\"width:1.94pt\"> </span></div><div class=\"ps2419 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.23pt\">strategic investments for the Group for<span class=\"f ps21\"> </span></span><span class=\"f charStyle-183bdf94 ps26429\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2420 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.22pt\">which the election has been to</span><span class=\"f charStyle-183bdf94 ps26430\" style=\"width:1.94pt\"> </span></div><div class=\"ps2421 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.23pt\">recognise changes in the related fair</span><span class=\"f charStyle-183bdf94 ps26429\" style=\"width:1.94pt\"> </span></div><div class=\"ps2422 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.24pt\">values through profit or loss. The fair</span><span class=\"f charStyle-183bdf94 ps26428\" style=\"width:1.94pt\"> </span></div><div class=\"ps2426 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.22pt\">value is defined based on the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-183bdf94 ps26430\" style=\"width:1.94pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps2429 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.23pt\">performance result of the companies</span><span class=\"f charStyle-183bdf94 ps26429\" style=\"width:1.94pt\"> </span></div><div class=\"ps2432 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:119.22pt\">based on the last Financial</span><span class=\"f charStyle-183bdf94 ps26430\" style=\"width:1.94pt\"> </span></div><div class=\"ps2434 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps132\" style=\"width:66.85pt\">Statements available.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26436 ss1966\"><div><div class=\"ps2458 ss353\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-183bdf94 ps11548\" style=\"width:2.33pt\">-</span><span class=\"f charStyle-183bdf94 ps132\" style=\"width:75.03pt\">- business performance.<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26437 ss1966\"><div><div class=\"ps2457 ss353\"><span class=\"f charStyle-40131897 ps132\">The estimated fair value would </span></div><div class=\"ps2458 ss353\"><span class=\"f charStyle-40131897 ps132\">increase (decrease) if the business </span></div><div class=\"ps2459 ss353\"><span class=\"f charStyle-40131897 ps132\">performance, was higher (lower).</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12611 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">All the biological products (agave, sugar cane and grapes) are classified as current inventory in consideration of</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps26440 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">their annual vegetative growing process, apart from agave which is classified as inventory even during the 6-</span></div><div class=\"ps26441 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">year growing period in consideration of the vegetative characteristics of the product. The amount disclosed in</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps26444 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:124.91pt\">the consolidated accounts </span><span class=\"f charStyle-58d8bcbe ps26442\" style=\"width:102.69pt\">at 31 December 2024</span><span class=\"f charStyle-58d8bcbe ps26443\" style=\"width:268.55pt\">, for sugar cane and grapes, was used in the production</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps25640 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:118.22pt\">process during the year </span><span class=\"f charStyle-58d8bcbe ps26445\" style=\"width:22.24pt\">2024</span><span class=\"f charStyle-58d8bcbe ps26446\" style=\"width:330.72pt\"> and the value reported in the Group statement of financial position </span><span class=\"f charStyle-58d8bcbe ps22554\" style=\"width:24.97pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps26448 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2025</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:361.62pt\"> represented the new value of agricultural products that are growing on the plants.</span><span class=\"f charStyle-58d8bcbe ps26447\" style=\"width:2.77pt\"> </span></div><div class=\"ps26450 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.06pt\">The following table shows a reconciliation from the opening and the closing balance for level 3 fair values as of</span><span class=\"f charStyle-58d8bcbe ps389\" style=\"width:2.77pt\"> </span></div><div class=\"ps26453 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:89.8pt\">31 December 2024</span><span class=\"f charStyle-58d8bcbe ps26368\" style=\"width:27pt\"> and </span><span class=\"f charStyle-58d8bcbe ps26451\" style=\"width:89.8pt\">31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26452\" style=\"width:289.62pt\"> for biological assets in inventory and third-party investments,</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps26455 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:54.81pt\">respectively.</span><span class=\"f charStyle-58d8bcbe ps26454\" style=\"width:2.77pt\"> </span></div><div class=\"ps26457 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:477.12pt\">The significant movement of the year related to valuation of the third-party investments in Capevin Holdings.</span><span class=\"f charStyle-58d8bcbe ps26456\" style=\"width:2.77pt\"> </span></div><div class=\"ps26460 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:11.72pt\">In </span><span class=\"f charStyle-58d8bcbe ps26458\" style=\"width:22.24pt\">2025</span><span class=\"f charStyle-58d8bcbe ps26459\" style=\"width:462.23pt\">, the change in fair value indicated referred to the harvests of agave and sugar cane carried out during</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps26462 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:38.33pt\">the year.</span><span class=\"f charStyle-58d8bcbe ps26461\" style=\"width:2.77pt\"> </span></div><div class=\"ps26473 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:366pt\"></td><td style=\"padding:0;width:129.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18723 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-40131897 ps15411\">biological assets in inventory</span><span class=\"f charStyle-85922b7e ps26464\"><span class=\"f ps21\"> </span><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18730 ss1661\"><div><div class=\"ps485 ss1658\"><span class=\"f charStyle-ba8ac8da ps26465\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-183bdf94 ps132\">harvest and reclassification to raw materials<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26467 ss1661\"><div><div class=\"ps485 ss1658\"><span class=\"f charStyle-183bdf94 ps26466\">(5.1)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-183bdf94 ps132\">accretion<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26468 ss1661\"><div><div class=\"ps485 ss1658\"><span class=\"f charStyle-183bdf94 ps26465\">19.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-183bdf94 ps132\">change in fair value included in profit or loss (cost of goods sold)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26469 ss1661\"><div><div class=\"ps485 ss1658\"><span class=\"f charStyle-183bdf94 ps26466\">(1.9)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26471 ss1661\"><div><div class=\"ps485 ss1658\"><span class=\"f charStyle-183bdf94 ps26470\">0.7<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26472 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-ba8ac8da\"><span class=\"ps132\"><span style=\"display:inline-block;height:5.09pt;width:110.43pt\"></span></span><span class=\"ps11556\">34.2<span style=\"display:inline-block;height:5.09pt;width:2.33pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26475 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:183.04pt\">Please refer to note 5 iii-\u2018Inventories and Biological Assets\u2019.</span><span class=\"f charStyle-40131897 ps26474\" style=\"width:1.94pt\"> </span></div><div class=\"ps26487 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:366.75pt\"></td><td style=\"padding:0;width:129pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26477 ss421\"><div><div class=\"ps476 ss418\"><span class=\"f charStyle-183bdf94 ps26476\">biological assets in inventory<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26479 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-ba8ac8da ps26478\">15.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-183bdf94 ps132\">harvest and reclassification to raw materials<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26481 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-183bdf94 ps26480\">(0.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-183bdf94 ps132\">accretion<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26483 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-183bdf94 ps26482\">9.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-183bdf94 ps132\">change in fair value included in profit or loss (cost of goods sold)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26484 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-183bdf94 ps26482\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26485 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-183bdf94 ps26480\">(2.6)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26486 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-ba8ac8da ps26478\">21.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3002 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:366pt\"></td><td style=\"padding:0;width:129.75pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18723 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-40131897 ps26489\">third-party investments</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-4b81288d ps132\">at 31 December 2024</span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps18730 ss1661\"><div><div class=\"ps485 ss1658\"><span class=\"f charStyle-ba8ac8da ps26465\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-40131897 ps132\">revaluation / devaluation</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26467 ss1661\"><div><div class=\"ps485 ss1658\"><span class=\"f charStyle-183bdf94 ps9386\">(59.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26468 ss1661\"><div><div class=\"ps485 ss1658\"><span class=\"f charStyle-183bdf94 ps26466\">(3.4)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps914 ss1968\"><div><div class=\"ps476 ss1967\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26469 ss1661\"><div><div class=\"ps476 ss1658\"><span class=\"f charStyle-ba8ac8da ps26465\">27.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26492 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:366.75pt\"></td><td style=\"padding:0;width:129pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps47 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-183bdf94 ps132\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26477 ss421\"><div><div class=\"ps476 ss418\"><span class=\"f charStyle-183bdf94 ps26490\">third-party investments<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps1081 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2023<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26479 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-ba8ac8da ps26478\">16.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-183bdf94 ps132\">investments<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26481 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-183bdf94 ps26478\">96.9<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-183bdf94 ps132\">revaluation / devaluation<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26483 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-183bdf94 ps26491\">(24.7)<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-183bdf94 ps132\">perimeter effect<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26484 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-183bdf94 ps26482\">0.1<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps919 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-183bdf94 ps132\">exchange rate differences<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps26485 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-183bdf94 ps26482\">1.3<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1970\"><div><div class=\"ps476 ss1969\"><span class=\"f charStyle-ba8ac8da ps132\">at 31 December 2024<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps26486 ss421\"><div><div class=\"ps485 ss418\"><span class=\"f charStyle-ba8ac8da ps26478\">89.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26493 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">The most significant portion of third\u2011party investments classified within level 3 of the fair value hierarchy related</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps26494 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">to the minority stake in Capevin Holdings Proprietary Ltd. and the carrying amount recognised in the financial</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps26495 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">statements reflected the investment\u2019s fair value measurement. An impairment loss of \u20ac59.4 million was</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps26498 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:139.2pt\">recognised in 2025 (refer to n</span><span class=\"f charStyle-58d8bcbe ps26496\" style=\"width:59.84pt\">ote 3 xii- 'Sh</span><span class=\"f charStyle-58d8bcbe ps26497\" style=\"width:297.16pt\">are of Profit (loss) of Joint-Ventures and Profit (loss) from Other</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps26500 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:429.6pt\">Investments'). No material sensitivity to changes in significant unobservable inputs was identified.</span><span class=\"f charStyle-58d8bcbe ps26499\" style=\"width:2.77pt\"> </span></div><div class=\"ps26503 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:283.82pt\">In light of the negligible amount of biological assets in inventory </span><span class=\"f charStyle-58d8bcbe ps26502\" style=\"width:41.11pt\">classified</span><span class=\"f charStyle-58d8bcbe ps651\" style=\"width:135.59pt\"> as level 3 fair value items, no </span><span class=\"f charStyle-58d8bcbe ps4930\" style=\"width:35.55pt\">material</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps26504 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">sensitivity effect was detected as any reasonably possible changes at the balance sheet date of one of the</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps26505 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">significant unobservable inputs, keeping the other variables constant, would not have generated material effects</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps26507 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:283.22pt\">either on the statement of profit or loss, or on the inventory item.</span><span class=\"f charStyle-58d8bcbe ps26506\" style=\"width:2.77pt\"> </span></div><div class=\"ps26508 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">As the majority of the value classified as level 3 fair value items related to third-party investments (reference</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps26509 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">was to the minority stake in Capevin Holdings Proprietary Ltd.) the amounts reported in the relevant financial</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26512 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:308.39pt\">statements lines were considered to be aligned with their fair value at </span><span class=\"f charStyle-58d8bcbe ps26510\" style=\"width:85.04pt\">31 December 2025<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps26511\" style=\"width:102.76pt\">. No material sensitivity</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps26513 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">effect was detected, as any reasonably possible changes at the balance sheet date of one of the significant</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps11420 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.22pt\">unobservable inputs, keeping the other variables constant, would not have resulted in material changes in the</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps12155 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">fair value measurement, nor in additional impacts on the statement of profit or loss or on the statement of</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps7437 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:288.89pt\">financial position, beyond the impairment loss already recognised</span><span class=\"f charStyle-58d8bcbe ps26514\" style=\"width:2.77pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-575": {
   "value": "<div class=\"ps26151 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">iii.\u00a0  Fair Value Information on Assets and Liabilities<span id=\"if2edeecf2a55458e960be05d8323a9a7\"></span></span></div><div class=\"ps24485 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b96b9181 ps56\" style=\"width:86.57pt\">Accounting policy</span></div><div class=\"ps24487 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:188.86pt\">Fair value on financial assets and liabilities</span></div><div class=\"ps24488 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:408.78pt\">For fair value information on financial assets and liabilities, please refer to note 6 i-\u2018Financial </span><span class=\"f charStyle-6e73145d ps26152\" style=\"width:56.65pt\">instruments\u2019.</span><span class=\"f charStyle-6e73145d ps1927\" style=\"width:2.77pt\"> </span></div><div class=\"ps26153 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e73145d ps56\" style=\"width:133.88pt\">Fair value on biological assets<span class=\"f ps21\"> </span></span></div><div class=\"ps26154 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">The Group\u2019s biological assets include grapes for champagne production, sugar cane plantations for rum</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26155 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">production and agave for tequila/mezcal production, which are used as raw materials for the production of those</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps26156 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:28.87pt\">spirits.</span><span class=\"f charStyle-2293a859 ps6790\" style=\"width:2.77pt\"> </span></div><div class=\"ps26157 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.12pt\">Grapevines remain classified as fixed biological assets valued at cost, net of accumulated depreciation and</span><span class=\"f charStyle-2293a859 ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps17581 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">accumulated impairment losses. Immature vines are stated at accumulated cost. Capitalisation of costs ceases<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26158 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">when the vines reach maturity. Depreciation commences when the grapevines are considered mature, which is</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26159 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">when they produce their first commercially viable crop. Grapes growing on the plant are immediately classified</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps26160 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">as biological inventory since agricultural output covers a one-year period and the harvest is expected to occur in</span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps26161 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.23pt\">the second half of the year. Taking into account the biological and vegetative cycle, all the costs incurred in</span><span class=\"f charStyle-2293a859 ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps15429 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">anticipation of the future harvest (services, products and other ancillary costs) are considered as inventory in</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps15430 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.07pt\">current biological assets at the reporting date, at a value that is in line with the fair value of the growing grapes<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps405\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps15431 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:249.43pt\">based on available information on commodities markets.</span></div><div class=\"ps15433 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">Sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps12184 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">depreciation and accumulated impairment losses up to the harvest, which occurs from February to June. At</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps12185 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.13pt\">harvest time, the agricultural output that covers a one-year period is classified as an inventory item at a value</span><span class=\"f charStyle-2293a859 ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps12186 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.15pt\">estimated based on the costs of infrastructure, land preparation and sugar cane cultivation, with reference to an</span><span class=\"f charStyle-2293a859 ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps0 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">active market for comparable plantations and similar output in terms of age and qualitative characteristics, if<span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps1 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:42.23pt\">available.</span></div><div class=\"ps3 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.18pt\">Agave plantations remain classified as fixed biological assets valued at cost, net of accumulated depreciation</span><span class=\"f charStyle-2293a859 ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps4 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.19pt\">and accumulated impairment losses. The vegetative cycle for the ripening of the agave fruit is approximately six</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps5 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.14pt\">years. During this period, the agave plants have not yet matured to be used for distillation purposes but can</span><span class=\"f charStyle-2293a859 ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps6 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.1pt\">theoretically be sold as medium-aged plants. Agave cannot be distinguished from planting and can only be</span><span class=\"f charStyle-2293a859 ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:81.93pt\">harvested once. T</span><span class=\"f charStyle-2293a859 ps26162\" style=\"width:414.26pt\">he value of the growing product is represented as biological inventory and the reported fair</span><span class=\"f charStyle-2293a859 ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps8 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.21pt\">value is estimated on the basis of the costs of infrastructure, soil preparation and agave cultivation, in the</span><span class=\"f charStyle-2293a859 ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps9 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">absence of an active reference market for comparable plantations and similar productions in terms of age and</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps10 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:114.42pt\">qualitative characteristics.</span></div><div class=\"ps11 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.17pt\">The following biological assets are not measured at fair value, and consequently are not represented in this</span><span class=\"f charStyle-2293a859 ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps12 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:82.22pt\">disclosure section:</span></div><div class=\"ps13 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">grapevines and agave plantations which remain classified as fixed biological assets valued at cost, net of</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps14 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:278.9pt\">accumulated depreciation and accumulated impairment losses,</span></div><div class=\"ps15 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps644\" style=\"width:11.64pt\">-\u00a0  <span class=\"f ps21\"> </span></span><span class=\"f charStyle-2293a859 ps1256\" style=\"width:482.05pt\">sugar cane plantations remain classified as fixed biological assets valued at cost, net of accumulated</span><span class=\"f charStyle-2293a859 ps1261\" style=\"width:2.77pt\"> </span></div><div class=\"ps16 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps1256\" style=\"width:332.21pt\">depreciation and accumulated impairment losses, up to the annual harvest.</span></div><div class=\"ps17 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.22pt\">Fair value measurement of current biological assets in inventory (agricultural produce: agave, grapes and sugar)</span><span class=\"f charStyle-2293a859 ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps18 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.16pt\">is determined based on the sale price net of estimated sales costs, if available, or having as the main reference</span><span class=\"f charStyle-2293a859 ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps1351 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2293a859 ps56\" style=\"width:496.08pt\">the total production costs in case the agricultural product is so peculiar that there is an absence of any active</span><span class=\"f charStyle-2293a859 ps123\" style=\"width:2.77pt\"> </span></div>reference market for comparable plantations and similar output in terms of age and qualitative characteristics.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-577": {
   "value": "<div class=\"ps26973 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vi.\u00a0  Remuneration to the Parent Company\u2019s Board of Directors<span id=\"i7adecbbec26c432baac6f2ef2df2146b\"></span></span></div><div class=\"ps26975 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps26979 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:244.45pt\">The remuneration to the Parent Company\u2019s Board of </span><span class=\"f charStyle-58d8bcbe ps422\" style=\"width:18.33pt\">Dire</span><span class=\"f charStyle-58d8bcbe ps26976\" style=\"width:21.66pt\">ctors</span><span class=\"f charStyle-58d8bcbe ps26977\" style=\"width:56.96pt\"> included in </span><span class=\"f charStyle-58d8bcbe ps26978\" style=\"width:154.74pt\">selling, general and administrative<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps26980 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:112.77pt\">expenses was as follows.</span></div><div class=\"ps26984 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:288.75pt\"></td><td style=\"padding:0;width:103.5pt\"></td><td style=\"padding:0;width:103.5pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19293 ss1580\"><div><div class=\"ps476 ss262\"><span class=\"f charStyle-183bdf94 ps19292\">for the year ended 31 December<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6978 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19294\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps11811 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19294\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps6983 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19296\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19366 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19296\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps906 ss1989\"><div><div class=\"ps485 ss1988\"><span class=\"f charStyle-183bdf94 ps132\">Short-term fixed and variable remuneration<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps6989 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19336\">7.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19367 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19336\">6.0<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps914 ss1989\"><div><div class=\"ps485 ss1988\"><span class=\"f charStyle-40131897 ps132\">Termination benefits and settlement\u00a0 payments</span><span class=\"f charStyle-85922b7e ps26981\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6993 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19321\">31.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19396 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19336\">3.2<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps919 ss1989\"><div><div class=\"ps485 ss1988\"><span class=\"f charStyle-40131897 ps132\">Long-term and share - based remuneration</span><span class=\"f charStyle-85922b7e ps26982\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps6997 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19336\">2.1<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps19398 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19336\">2.8<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps4163 ss1989\"><div><div class=\"ps485 ss1988\"><span class=\"f charStyle-40131897 ps132\">Last mile long-term retention scheme</span><span class=\"f charStyle-85922b7e ps26983\"><span class=\"f ps21\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps7001 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19322\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps19400 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-183bdf94 ps19336\">2.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps4962 ss1989\"><div><div class=\"ps485 ss1988\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps7005 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-ba8ac8da ps19321\">40.4<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:0\"><div class=\"ps19402 ss1471\"><div><div class=\"ps485 ss1470\"><span class=\"f charStyle-ba8ac8da ps19321\">14.5<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps26986 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:8.21pt\"><sup>(1) </sup></span><span class=\"f charStyle-40131897 ps26985\" style=\"width:487.88pt\">The amount accounted for in 2025 encompasses the settlement payments recognised to previous Chief Financial and Operating Officer, following the</span><span class=\"f charStyle-40131897 ps372\" style=\"width:1.94pt\"> </span></div><div class=\"ps26987 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:368.49pt\">consensual termination of his responsibilities, and in accordance with the remuneration policy and existing agreements.</span></div><div class=\"ps26988 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:6.81pt\"><span class=\"f ps21\"> </span><sup>(2) </sup></span><span class=\"f charStyle-40131897 ps580\" style=\"width:388.69pt\">The value shown above also includes the liability relating to the cancellation of stock option plans granted to outgoing director.</span></div><div class=\"ps26989 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-85922b7e ps579\" style=\"width:7.54pt\"><sup>(3) </sup></span><span class=\"f charStyle-40131897 ps5055\" style=\"width:488.59pt\">Pursuant to the Remuneration Policy, in 2024 a shared-based last mile incentive scheme with retention purpose to be potentially awarded to the previous</span><span class=\"f charStyle-40131897 ps104\" style=\"width:1.94pt\"> </span></div><div class=\"ps26990 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-40131897 ps56\" style=\"width:313.45pt\">Chief Financial and Operating Officer had been approved by the Parent Company\u2019s corporate bodies.</span></div><div class=\"ps26995 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:237.63pt\">On the date of this report, a payable to directors of \u20ac</span><span class=\"f charStyle-58d8bcbe ps26992\" style=\"width:13.89pt\">5.4</span><span class=\"f charStyle-58d8bcbe ps26993\" style=\"width:221.81pt\"> million was recognised in the Group\u2019s accounts (</span><span class=\"f charStyle-58d8bcbe ps26994\" style=\"width:22.82pt\">at 31</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps26996 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:71.13pt\">December 2024</span><span class=\"f charStyle-58d8bcbe ps3437\" style=\"width:138.84pt\">, this amounted to \u20ac3.7 million).</span></div><div class=\"ps26997 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:452.88pt\">For more information regarding the remuneration of directors, please refer to the \u2019Governance\u2019 section.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-578": {
   "value": "<div class=\"ps26999 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-6c6fcc93 ps1243\">vii.\u00a0  Employees<span id=\"i99abddd8ba214882878bb25555cbb6b2\"></span></span></div><div class=\"ps27001 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a745408e ps56\" style=\"width:51.09pt\">Disclosure</span></div><div class=\"ps27004 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:158.12pt\">The following table indicates the </span><span class=\"f charStyle-58d8bcbe ps27002\" style=\"width:36.13pt\">average</span><span class=\"f charStyle-58d8bcbe ps27003\" style=\"width:301.84pt\"> number of employees at the Group, broken down by business</span><span class=\"f charStyle-58d8bcbe ps372\" style=\"width:2.77pt\"> </span></div><div class=\"ps27005 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:135pt\">segment, category and region.</span></div><div class=\"ps27029 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss49 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:287.25pt\"></td><td style=\"padding:0;width:104.25pt\"></td><td style=\"padding:0;width:104.25pt\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1975\"><div><div class=\"ps476 ss1974\"><span class=\"f charStyle-ba8ac8da ps132\">Business segment<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14913 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-ba8ac8da ps26743\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27007 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-ba8ac8da ps26743\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps1081 ss1975\"><div><div class=\"ps476 ss1974\"><span class=\"f charStyle-183bdf94 ps132\">Production<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14918 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps27008\">2,094<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps26744 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps27008\">2,137<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps1105 ss1975\"><div><div class=\"ps476 ss1974\"><span class=\"f charStyle-183bdf94 ps132\">Sales and distribution<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14922 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps27008\">2,025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26745 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps27008\">2,055<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps906 ss1975\"><div><div class=\"ps476 ss1974\"><span class=\"f charStyle-183bdf94 ps132\">General<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps14925 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps27009\">895<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps26746 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps27009\">922<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps914 ss1975\"><div><div class=\"ps476 ss1974\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps14928 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-ba8ac8da ps27008\">5,014<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps27010 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-ba8ac8da ps27008\">5,114<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps919 ss1975\"><div><div class=\"ps476 ss1974\"><span class=\"f charStyle-ba8ac8da ps132\">Category<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27011 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-ba8ac8da ps26743\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27012 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-ba8ac8da ps26743\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps4163 ss1975\"><div><div class=\"ps485 ss1974\"><span class=\"f charStyle-183bdf94 ps132\">Managers<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27013 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps27009\">799<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps27014 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-183bdf94 ps27009\">839<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4962 ss1975\"><div><div class=\"ps485 ss1974\"><span class=\"f charStyle-183bdf94 ps132\">Office staff<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps27015 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps27008\">3,086<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps27016 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-183bdf94 ps27008\">3,168<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps4965 ss1975\"><div><div class=\"ps485 ss1974\"><span class=\"f charStyle-183bdf94 ps132\">Manual workers<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps27017 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps27008\">1,129<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps27018 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-183bdf94 ps27008\">1,107<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6293 ss1975\"><div><div class=\"ps476 ss1974\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps27019 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-ba8ac8da ps27008\">5,014<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps27020 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-ba8ac8da ps27008\">5,114<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps6297 ss1975\"><div><div class=\"ps485 ss1974\"><span class=\"f charStyle-ba8ac8da ps132\">Region<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27021 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-ba8ac8da ps26743\">2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27022 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-ba8ac8da ps26743\">2024<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps6300 ss1975\"><div><div class=\"ps485 ss1974\"><span class=\"f charStyle-183bdf94 ps132\">Italy<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27023 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps27008\">1,194<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-top:0.5pt solid #000;padding:0\"><div class=\"ps27024 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-183bdf94 ps27008\">1,194<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"padding:0\"><div class=\"ps5134 ss1975\"><div><div class=\"ps485 ss1974\"><span class=\"f charStyle-183bdf94 ps132\">Abroad<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;padding:0\"><div class=\"ps27025 ss1015\"><div><div class=\"ps476 ss1014\"><span class=\"f charStyle-183bdf94 ps27008\">3,820<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps27026 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-183bdf94 ps27008\">3,920<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps9630 ss1975\"><div><div class=\"ps485 ss1974\"><span class=\"f charStyle-ba8ac8da ps132\">Total<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps27027 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-ba8ac8da ps27008\">5,014<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000000;padding:0\"><div class=\"ps27028 ss1015\"><div><div class=\"ps485 ss1014\"><span class=\"f charStyle-ba8ac8da ps27008\">5,114<span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps27033 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:16.04pt\">As </span><span class=\"f charStyle-58d8bcbe ps27031\" style=\"width:100.95pt\">at 31 December 2025</span><span class=\"f charStyle-58d8bcbe ps27032\" style=\"width:379.23pt\">, the actual headcount of employees stood at 4,837, while the average number of</span><span class=\"f charStyle-58d8bcbe ps74\" style=\"width:2.77pt\"> </span></div><div class=\"ps27040 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:146.76pt\">employees during the year was </span><span class=\"f charStyle-58d8bcbe ps27034\" style=\"width:25.01pt\">5,014</span><span class=\"f charStyle-58d8bcbe ps27035\" style=\"width:52.23pt\">. Of these, </span><span class=\"f charStyle-58d8bcbe ps27036\" style=\"width:25.01pt\">1,194</span><span class=\"f charStyle-58d8bcbe ps27037\" style=\"width:169.37pt\"> employees were based in Italy, and </span><span class=\"f charStyle-58d8bcbe ps27038\" style=\"width:25.01pt\">3,820</span><span class=\"f charStyle-58d8bcbe ps27039\" style=\"width:52.82pt\"> around the<span class=\"f ps21\"> </span></span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> <span class=\"f ps21\"> </span></span></div><div class=\"ps27041 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:257.76pt\">world. No Group employees are based in the Netherlands.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-579": {
   "value": "<div class=\"ps27043 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-b817d055 ps56\">9.\u00a0  Subsequent Events<span id=\"i0905f8d2c86a4e7dbdf0cbbf0689145b\"></span></span></div><div class=\"ps4438 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">There have been no events subsequent to period end which require adjustment of, or disclosure in, the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><div class=\"ps4447 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:168.3pt\">Consolidated Financial Statements at </span><span class=\"f charStyle-58d8bcbe ps27044\" style=\"width:85.02pt\">31 December 2025</span><span class=\"f charStyle-58d8bcbe ps26538\" style=\"width:2.77pt\">.</span></div><div class=\"ps15514 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:207.22pt\">Other subsequent events were reported below.</span></div><div class=\"ps0 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-a745408e ps56\">Campari Group new geographical business unit structure</span></div><div class=\"ps1881 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">As mentioned in the 'Campari Group's identity and business overview' section of the Management Board</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps4582 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">Report, a new geographical management structure will be introduced in 2026 comprising of four business units,</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps7631 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">with dedicated leadership for each geographical area (Europe, North America, Asia-Pacific, Developing</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps1529 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:461.39pt\">Markets). The new structure will be considered as the base for the 2026 segment reporting of the Group.</span></div><div class=\"ps1530 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">It is noted that the changes in representation do not imply changes in the disclosures provided in the</span><span class=\"f charStyle-58d8bcbe ps63\" style=\"width:2.77pt\"> </span></div><div class=\"ps1531 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:467.2pt\">consolidated financial statements at 31 December 2025, which remain fully comprehensive and complete.</span></div><div class=\"ps1479 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">The table below shows the segment reporting originally published in the consolidated financial statements at 31</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps1480 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:344.42pt\">December 2025 with reconciliation to the updated segment reporting structure</span><span class=\"f charStyle-58d8bcbe ps27045\" style=\"width:2.77pt\">.</span></div><div class=\"ps27095 ss1\"><div class=\"ss54 ws0 ps258\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:134.25pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:14.25pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td><td style=\"padding:0;width:57.75pt\"></td></tr><tr style=\"height:20.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps47 ss1340\"><div><div class=\"ps979 ss812\"><span class=\"f charStyle-183bdf94 ps132\">for the year ended 31 December 2025<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps14684 ss542\"><div><div class=\"ps979 ss536\"><span class=\"f charStyle-183bdf94 ps27046\">published<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26914 ss542\"><div><div class=\"ps979 ss536\"><span class=\"f charStyle-183bdf94 ps27047\">North America<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27049 ss542\"><div><div class=\"ps979 ss536\"><span class=\"f charStyle-183bdf94 ps27048\">Europe<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps22697 ss542\"><div><div class=\"ps979 ss536\"><span class=\"f charStyle-183bdf94 ps27050\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27051 ss542\"><div><div class=\"ps2776 ss536\"><span class=\"f charStyle-183bdf94 ps3393\">Developing <span class=\"f ps21\"> </span></span></div><div class=\"ps2777 ss536\"><span class=\"f charStyle-183bdf94 ps7317\">markets</span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27052 ss542\"><div><div class=\"ps979 ss536\"><span class=\"f charStyle-40131897 ps25552\">Total</span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27053 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps7964\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26922 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps7964\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27054 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps7964\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27055 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps7964\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27056 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps7964\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27057 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps7964\">\u20ac million<span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1126 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27058 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps8619\">1,337.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps26926 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps8619\">1,131.5<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27059 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27060 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27061 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">206.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps490 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-183bdf94 ps132\">EMEA<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-right:0.5pt solid #000;padding:0\"><div class=\"ps27062 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps8619\">1,513.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps26927 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps27063 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps8619\">1,419.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps27064 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps27065 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">94.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps498 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps27066 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">199.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps26930 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps27067 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps27068 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">199.8<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps27069 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps505 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-71fa1de4 ps132\"><span style=\"background-color:inherit\">net sales</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27070 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-ba8ac8da ps8619\">3,051.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27071 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-682c42b7 ps8619\"><span style=\"background-color:inherit\">1,131.5</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27072 ss545\"><div><div class=\"ps2415 ss536\"><span class=\"f charStyle-682c42b7 ps8619\"><span style=\"background-color:inherit\">1,419.8</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27073 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-682c42b7 ps9007\"><span style=\"background-color:inherit\">199.8</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27074 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-682c42b7 ps9007\"><span style=\"background-color:inherit\">300.0</span><span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27075 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-682c42b7 ps8619\"><span style=\"background-color:inherit\">3,051.2</span><span class=\"f ps21\"> </span></span></div></div></div></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps1043 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Americas<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27076 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">313.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27077 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">279.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27078 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27079 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27080 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">34.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-top:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps4628 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-183bdf94 ps132\">EMEA<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-right:0.5pt solid #000;padding:0\"><div class=\"ps27081 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">333.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-left:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps21561 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps27082 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps9007\">304.7<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps27083 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"><div class=\"ps27084 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23411\">29.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps6894 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-183bdf94 ps132\">Asia-Pacific<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;padding:0\"><div class=\"ps27085 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps4500\">(10.0)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps21564 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps27086 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23392\">(0.4)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps27087 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps23392\">(9.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"><div class=\"ps27088 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-183bdf94 ps20517\">-<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;padding:0\"></td></tr><tr style=\"height:11.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps5271 ss813\"><div><div class=\"ps476 ss812\"><span class=\"f charStyle-ba8ac8da ps132\">result from recurring activities<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #000;border-right:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27089 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-ba8ac8da ps9007\">636.9<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #000;border-left:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27090 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-ba8ac8da ps9007\">279.0<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27091 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-ba8ac8da ps9007\">304.3<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27092 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-ba8ac8da ps23392\">(9.6)<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27093 ss545\"><div><div class=\"ps476 ss536\"><span class=\"f charStyle-ba8ac8da ps23411\">63.2<span class=\"f ps21\"> </span></span></div></div></div></td><td style=\"background-color:#bdd6ee;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0\"><div class=\"ps27094 ss545\"><div><div class=\"ps485 ss536\"><span class=\"f charStyle-682c42b7 ps9007\"><span style=\"background-color:inherit\">636.9</span><span class=\"f ps21\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps27097 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-a745408e ps56\">Davide Campari-Milano N.V. joins the 'Cooperative Compliance' regime</span></div><div class=\"ps27098 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.11pt\">Following the successful completion of the required multi-year process, in February 2026, Davide Campari-</span></div><div class=\"ps27099 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">Milano N.V. received the confirmation that it has been admitted by the Italian Revenue Agency to the</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps27100 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:145.56pt\">Cooperative Compliance regime.</span></div><div class=\"ps27101 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.08pt\">The admission, effective from fiscal year 2024, follows the completion of the rigorous assessment carried out by</span><span class=\"f charStyle-58d8bcbe ps123\" style=\"width:2.77pt\"> </span></div><div class=\"ps27102 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">the Italian Revenue Agency on the adequacy of the Tax Control Framework, the system adopted by the</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps27103 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:368.26pt\">Company for the identification, measurement, management and control of tax risks.</span></div><div class=\"ps27104 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">Participation in the regime, established under Legislative Decree No. 128/2015, reflects the Group\u2019s</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps27105 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.15pt\">long\u2011standing commitment to national and international best practices and is fully aligned with its ethical</span><span class=\"f charStyle-58d8bcbe ps116\" style=\"width:2.77pt\"> </span></div><div class=\"ps27106 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">principles and corporate sustainability strategy. This recognition is grounded in transparency and in the belief</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps27107 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.16pt\">that the proper fulfilment of tax obligations is a meaningful contribution to the economic and social development</span><span class=\"f charStyle-58d8bcbe ps70\" style=\"width:2.77pt\"> </span></div><div class=\"ps27108 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">of the countries in which the Group operates and creates value. The admission further strengthens the Group\u2019s</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps27109 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.14pt\">collaborative relationship with the Italian Revenue Agency, aimed at increasing tax certainty through proactive,</span><span class=\"f charStyle-58d8bcbe ps61\" style=\"width:2.77pt\"> </span></div><div class=\"ps27110 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">ongoing and enhanced interaction on higher\u2011risk matters, while also broadening coverage to the most significant</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps27111 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.07pt\">tax issues. The inclusion in the list of entities admitted to the regime has been published on the official website</span><span class=\"f charStyle-58d8bcbe ps405\" style=\"width:2.77pt\"> </span></div><div class=\"ps17444 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">of the Italian Revenue Agency, in accordance with applicable regulations. In accordance with Article 14,</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17445 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">paragraph 2, of Legislative Decree No. 192 of 18 December 2025, Davide Campari-Milano N.V. will provide</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps17446 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">certification of its integrated system for the identification, measurement, management and control of tax risk by</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps17447 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:90.56pt\">30 September 2026.</span></div><div class=\"ps17449 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-a745408e ps56\">EMTN (Euro Medium Term Notes) Programme Establishment</span></div><div class=\"ps5699 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">The Board of Director of the Parent Company, at its meeting held on 4 March 2026, has approved the</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps5700 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">establishment of an EMTN programme. This programme will provide the Group an efficient documentation</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps27112 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.19pt\">platform to place Regulation S bonds maximizing its flexibility to take advantage of market windows as they</span><span class=\"f charStyle-58d8bcbe ps465\" style=\"width:2.77pt\"> </span></div><div class=\"ps27113 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">materialize and ensuring ease in execution of public Eurobond issues, with short lead times and minimised</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps27114 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.12pt\">exposure to market risk. At the same time, the Group will be able to execute opportunistic private placements as</span><span class=\"f charStyle-58d8bcbe ps381\" style=\"width:2.77pt\"> </span></div><div class=\"ps27115 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:470.56pt\">necessary, with less documentation burden and lower expenses. The programme will be updated annually.</span></div><div class=\"ps27118 ss1\" style=\"font-size:12pt\"><span class=\"f charStyle-a745408e ps56\">Change in additional financial information external </span><span class=\"f charStyle-a745408e ps7271\">disclosure</span><span class=\"f charStyle-a745408e ps27117\"> scope</span></div><div class=\"ps27119 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.23pt\">As of the first quarter of 2026, the Board of Director of the Company has approved the change in the additional</span><span class=\"f charStyle-58d8bcbe ps370\" style=\"width:2.77pt\"> </span></div><div class=\"ps27120 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">financial information published for the three and nine months ended 31 March and 30 September, to net sales</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps27121 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.1pt\">level financials. This is to align the scope and granularity of the Group\u2019s quarterly voluntary disclosure with the</span><span class=\"f charStyle-58d8bcbe ps413\" style=\"width:2.77pt\"> </span></div><div class=\"ps7893 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.13pt\">prevailing market practice and the disclosure level adopted by its competitors as well as to simplify and enhance</span><span class=\"f charStyle-58d8bcbe ps104\" style=\"width:2.77pt\"> </span></div><div class=\"ps27122 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.17pt\">the focus of interim communications on the most relevant performance indicators in order to ensure the</span><span class=\"f charStyle-58d8bcbe ps118\" style=\"width:2.77pt\"> </span></div><div class=\"ps27123 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.2pt\">investment community has visibility, while continuing to provide an update on its outlook for the overall Group</span><span class=\"f charStyle-58d8bcbe ps72\" style=\"width:2.77pt\"> </span></div><div class=\"ps17506 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.21pt\">performance and long-term perspectives. The half\u2011year and year\u2011end financial statements will remain</span><span class=\"f charStyle-58d8bcbe ps94\" style=\"width:2.77pt\"> </span></div><div class=\"ps27124 ss1\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:496.18pt\">unchanged and will continue to be prepared and published in accordance with IFRS requirements and the</span><span class=\"f charStyle-58d8bcbe ps402\" style=\"width:2.77pt\"> </span></div><span class=\"f charStyle-58d8bcbe ps56\" style=\"width:220.11pt\">applicable stock\u2011exchange disclosure regulations.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
    "language": "en",
    "entity": "scheme:213800ED5AN2J56N6Z02",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  }
 }
}